Is Commercial Insurance Required for Your Florida Business?

Our agents at the Deboo Insurance Agency Inc., serving the Deerfield Beach, FL area, are stressing the importance of having commercial insurance if you are a business owner in Florida. While commercial insurance is not required under Florida law except for worker’s compensation and auto liability insurance, you should have a policy to protect the investment of time, money, and hard work you have put into your business.

Commercial Insurance Required in Florida

Workers’ Compensation Insurance

In Florida, businesses with four or more full-time or part-time employees are required by law to provide workers’ compensation coverage. This type of insurance compensates employees for medical expenses and lost wages if injured on the job.

Commercial Auto Insurance

If your business uses vehicles for any purpose, such as for deliveries or employee transportation, you must have at least a minimum amount of commercial auto insurance in case an accident occurs, which you are liable for.

Other Important Commercial Insurance Coverage Options

General Liability Insurance

This is the most important piece of commercial insurance since it covers bodily injury and property damage claims that can happen if someone is injured at your business or injured due to a product you produce.

Property Insurance

If you own the building your business is housed in, you will want property insurance to protect it if a hurricane or some other weather event occurs. This type of policy will also help you cover the costs of your inventory and equipment that can be lost due to a natural disaster, vandalism, fire, or robbery.

Professional Liability Insurance

Professional liability insurance is also known as errors and omissions insurance and covers legal expenses and damages if your business is sued for professional mistakes or negligence.

Contact Deboo Insurance Agency Inc.

To get your commercial insurance policy started, contact our agents at the Deboo Insurance Agency Inc. serving the Deerfield Beach, FL area today!