The thrill of starting a new business can lead to a lot of excitement. The world seems full of possibility. Just remember, nothing is as easy as it seems. Even the Sunshine State, which looks like warm days on the beach from afar, receives more lightning strikes than anywhere in the country in the central part of the state. Florida business insurance is your protection against threats, whether they come from the sky or from angry customers. You need to cover your business property from damages and yourself from lawsuits. Comparing Florida business insurance quotes online lets you find great coverage and save money.
Hurricanes and Your Business
Your business may be new, but that's no reason to ignore history: Florida is the most hurricane-prone state in the country. And if your business has been around for a while, you may have experienced some of the $25 billion in damages caused by Hurricane Andrew. Florida business insurance must include coverage for your business property. There some important considerations. While a standard property policy will cover wind damage, it might also cost a lot, given Florida's propensity for these wind events. Don't let that deter you. Instead, shop around for better Florida business insurance quotes. Also, review any policy very carefully to determine the extent of contents coverage. If all of your computers are destroyed, do you have enough coverage to replace them? Finally, make sure all of your possessions, from your office to company cars, are insured against flood damage. This will require you to buy a separate policy, usually from the federal National Flood Insurance Program. For a small business, this policy can cover both your building and contents for $500,000.
Liability and Florida Business Insurance
Protecting yourself and your assets from lawsuits is a crucial part of commercial success, since not everyone is as dependable as Tim Tebow. When you search for Florida business insurance quotes, remember that one of these liability coverages is required by law:
- Premises and operations: If someone is injured on the site of your business, you'll need this policy.
- Products and completed operations: This covers damages caused by your company's products.
- Commercial automobile insurance: If a company vehicle, or even an employee's vehicle driven for work purposes, causes damage, this policy will protect you. This form of Florida business insurance is required by the state.
Florida Workers' Compensation
Legally, you could say Florida business insurance begins with workers' compensation. If your business is not in the construction industry, and you have at least four employees (full- or part-time), you must provide workers' compensation as part of your search for Florida business insurance quotes. The state does not consider partners and sole proprietors as employees. In the construction industry, you'll need such a policy for just one full- or part-time employee. And in the agricultural industry, you need to purchase a workers' compensation policy if you have at least five regular employees and at least 12 who work for a season of at least 30 days.
Rather than the beachfront malls popular among tourists, focus on comparing Florida business insurance quotes. By shopping online, you can compare many, many Florida insurance quotes, which will help you save hundreds of dollars. In fact, a service like NetQuote.com makes the comparisons quick and easy. Such a free service makes Florida business insurance look pretty sunny after all.