Florida Commercial Insurance Basics

Author: The Massey Clark Fisher Team | Tuesday, Sep 13, 2011


Tags: community • home insurance • homeowners insurance • insurance • local • safety tips • seasonal • tips

Planning to open a business? You’re in for a busy time. There’s a lot to get your head around, and the chances are you have a massive “to do” list close at hand. Perhaps you’re here because you’ve just worked your way down to “insurance” on your list! We know you’re busy, so here are the different types of Florida commercial insurance. You may need some or all of them:

Property insurance: if you own the property on which your business is located or the contents within it, you’ll want to protect yourself against financial loss from theft, natural disaster or other damage.

Liability coverage: from people tripping over your door mat to clients suing you for negligence, this type of coverage can be tailored to your business requirements. It is designed to protect you from the expense of legal fees and damages pay-outs.

Commercial auto insurance: if you use a vehicle for business purposes you must have commercial coverage, even if you use it privately, too.

Workers’ compensation coverage: if you have employees, this may be mandatory. Even if it isn’t, it’s still a good idea.

Business interruption: major catastrophes can bring trade to a halt for weeks. Would you survive financially? This can be an important area of cover.

Keep in mind that these are just the most common types of Florida commercial insurance. You may also be able to obtain a policy that is tailored to the type of business you operate – for example, garage or restaurant insurance, or a policy that’s tailored to professional consultancies. There is no one-size-fits-all commercial policy. Take the time to accurately evaluate your risk exposures so as to ensure your business is perfectly protected.