Popular Questions About Florida Business Insurance

In 2018 small businesses in Florida made $576.3 billion. Florida businesses are thriving. But a company's revenue could be negatively affected in a moment's notice. Without insurance, business claims have to be paid out-of-pocket, meaning they have to be paid out of your business’s revenue. 

So if a pipe bursts and floods the sales floor or if a customer suffers an injury on the way out the door, you could suffer the financial consequences.

40% of small businesses are likely to experience a property or general liability claim in the next 10 years. Here are some things these companies have been using their insurance on:

  • Theft Or Burglary: Average Cost Per Claim - $8,000
  • Water Damage & Freezing Pipes: Average Cost Per Claim - $17,000
  • Wind & Hail Damage: Average Cost Per Claim - $26,000
  • Fire Damage: Average Cost Per Claim - $35,000
  • Customer Slip & Fall: Average Cost Per Claim - $20,000

There are a lot of moving parts to running your business. But insurance doesn't have to add to the complications. Florida business insurance will pay for covered claims so your business doesn’t have to. Business insurance gives you peace of mind knowing that you're fully protected from whatever may come your way. Here’s what a standard business insurance policy should do:

Pay For Damage To Your Building

  • We call this “Commercial Property Insurance.”
  • Example: A tree falls on your office building.

Pay For Damage To Your Business Property

  • We call this “Business Personal Property Insurance.”
  • Example: A fire destroys all your computers.

Pay For Damage To Someone Else’s Property

  • We call this “General Liability Insurance.”
  • Example: A contractor does a poor job of installing a cabinet, resulting in its falling and breaking homeowner's kitchenware.

Pay For Someone Else’s Medical Bills

  • We also call this “General Liability Insurance.” 
  • Example: A customer slips and falls on your recently mopped floor and breaks an arm.

Pay For Accidents in Company Vehicles

  • We call this “Commercial Auto Insurance.”
  • Example: Your salesperson rear-ends someone while driving to an appointment.

Pay For Employee Injuries & Compensation

  • We also call this “Workers' Compensation.”
  • Example: An employee falls off a ladder at work and can’t work for two weeks.

Sometimes, these coverages are not enough to properly protect a business against risk. Your business most likely faces unique risks and may need additional coverages.

To make sure you're properly insured, partner with an independent insurance agent. We can have someone on your side who understands your industry. You'll receive customized coverage that keeps your budgetary restrictions in mind.

A commercial insurance policy is not required for business owners, but certain aspects of it may be. For example, Florida businesses are required to have workers' compensation coverage — regardless of whether they have part-time or full-time employees. Additionally, employees must also carry commercial auto insurance, especially if they're driving company cars.

The requirements can get overwhelming. That's why you should talk with a local independent insurance agent to know what you absolutely need and what you should purchase to have full protection.

It primarily depends on how risky your business is. The riskier your business is, the higher your insurance will be. Here are two examples.

  • A sole proprietor who owns a garment hemming business: $260 per year
  • A commercial landscaper with five employees who operate heavy machinery: $22,700 per year

Business insurance rates are calculated using a number of factors such as the risks to your business property, your liability coverage needs, and the amount and types of coverage you want. 

Policies can vary significantly by business industry, so it is best to talk with an experienced insurance agent when building a suitable and comprehensive policy for your business.

It’s usually wise to work with an independent agent in Florida since they have access to multiple insurance companies. Sometimes its difficult to find an insurance company who will cover your business.

  • There are 12,427 independent agents in Florida who are ready to help.
  • In 2017 our agents helped 183,628 people.

An independent insurance agent compares policies from multiple companies to find the best coverage for your needs. these are the best companies in to work with for business insurance in Florida.

Mercury Insurance

Liberty Mutual

ICW Group

Progressive 

How does business insurance work?

Find the Best Insurance in Your City

How does your city measure up to the national average?

Number of businesses in the US: 27,626,360

Burglary rate per 1,000 residents in the US: 3.76

Auto theft rate per 1,000 vehicles in the US: 2.29

CityNo. businessesBurglaries / 1,000 peopleAuto thefts / 1,000 cars
Tampa44,8115.091.39
Jacksonville70,1927.952.31
Miami98,2228.675.26
Naples9,1634.140.72
Orlando37,54412.873.82
Tallahassee15,71412.343.55
Gainesville9,7644.632.33
Fort Lauderdale32,91711.153.87
Melbourne7,5185.911.40
St. Petersburg25,54510.415.58
Boyton Beach10,0887.302.26
Bradenton5,4087.951.49
Cape Coral18,2814.030.90
Clearwater12,4886.861.91
Clermont4,01514.062.97
Coconut Creek6,8544.331.21
Coral Gables13,2186.201.71
Coral Springs18,0152.760.86
Cutler Bay5,9413.911.97
Davie12,6765.791.96
  • Tampa, FL
  • Business Insurance Common Coverage Options
  • Property: The property crime rate in Tampa is much higher than the national average. That means that commercial property insurance in Tampa can sometimes be more expensive, since you need the extra protection.
  • Commercial Vehicle: Does your business own a vehicle or a fleet of vehicles? You'll definitely need commercial auto insurance. Although the area's crime rate will be taken into account, your rate will be based on unique factors, including the number and types of vehicles you are covering.
  • Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Florida employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.


  • Jacksonville, FL
  • Business Insurance Common Coverage Options
  • Property: Severe weather events are just one type of incident to keep in mind when talking about business insurance rate factors. Damage to other property can occur from crimes like theft and arson, which can lead to large business losses if you aren't properly insured. Keep this crime rate in mind when looking at insurance options.
  • Commercial Auto: You will need commercial auto insurance if your business owns a vehicle or a fleet of cars. Your rates will be based on a number of specific and unique factors like the number and types of vehicles you have, the risk of collisions in your city and the vehicle theft rate in your city.
  • Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Florida employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.


  • Miami, FL
  • Business Insurance Common Coverage Options
  • Property: Bad weather, theft and unexpected fires can lead to serious business losses. That's why you need the proper insurance that covers a number of specific risks. The crime rate in Miami can affect your coverage rate, so keep it in mind when shopping for insurance options.
  • Commercial Auto: Accidents happen — especially when you can't control other drivers on the road. So if your business owns a vehicle or two, you will need the right commercial auto insurance. Don't worry. A local independent insurance agent will find coverage that is comprehensive but doesn't hurt your bottom line.
  • Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Florida employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.


  • Naples, FL
  • Business Insurance Common Coverage Options
  • Property: Naples businesses should take note. Because the crime rate in the area is higher than average, your property insurance could be higher than you'd like. But that just means you're protecting yourself against realistic threats. Don't suffer financially if something unexpected happens. Get insured.
  • Commercial Auto: You may not be too concerned when you look at this number. But if your business owns a vehicle or a fleet of vehicles, you will definitely need commercial auto insurance. Each rate will be different, however, since the number and types of vehicles you are covering are unique to you.
  • Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Florida employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.


  • Fort Lauderdale, FL 
  • Business Insurance Common Coverage Options
  • Property: Severe weather events should certainly be a major concern, since you're in a coastal state. But other risks like theft and arson can lead to serious property damage and large business losses if you do not have the right insurance. Consider all the risks when looking at which insurance is right for your business.
  • Commercial Auto: Your commercial auto insurance rate will be based on the number and types of vehicles you are covering as well as the risk of collisions and vehicular theft in your city. It's a unique combination of characteristics that gives you personalized, yet comprehensive, coverage.
  • Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Florida employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.


  • Orlando, FL
  • Business Insurance Common Coverage Options
  • Property: You need to protect your physical property from a number of threats. Bad weather, an unexpected fire, a burst pipe or a break-in can cause both emotional and financial stress. Let an independent insurance agent find you comprehensive coverage at a price you can afford so you can have peace of mind knowing you'll be compensated efficiently.
  • Commercial Auto: Your commercial auto insurance rates will be based on a number of factors like the number and types of vehicles you are covering, the risk of collisions in your city and the average rate of vehicular theft in your city. It creates something personalized and unique so all your risks are covered.
  • Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Florida employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.


  • Gainesville, FL
  • Business Insurance Common Coverage Options
  • Property: In addition to severe weather events, property crimes like theft and arson can lead to large business losses if you do not have the right insurance. The crime rate in Gainesville can affect your coverage rates, which is why you should team up with an independent agent to make sure you're getting what you need.
  • Commercial Auto: There aren't nearly as many auto thefts in Gainesville as in other parts of the state. But if your business owns a vehicle or a fleet of vehicles, you need comprehensive protection. Accidents can happen in a moment's notice, and you need the right amount and type of coverages for these realistic threats.
  • Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Florida employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.


  • Melbourne, FL
  • Business Insurance Common Coverage Options
  • Property: How would your current commercial insurance policy respond if your property were damaged? Because your physical location is a key part of your business, you need to have the right amount of coverage to protect it. That way, rebuilding or reconstruction doesn't have to be complicated.
  • Commercial Auto: Does your business use cars for work? If so, you will need commercial auto insurance. Whether you're just renting a few times a month or actually own a fleet of cars, this coverage will ensure you're properly covered if something happens on the road.
  • Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Florida employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.


  • St. Petersburg, FL
  • Business Insurance Common Coverage Options
  • Property: Weather events, property crimes like theft and arson, and accidental fires can lead to large business losses if you don't have the right insurance. Considering the crime rate in St. Petersburg is relatively low, this could make insurance rates lower. But it's always a good idea to talk to a local independent insurance agent about your options.
  • Commercial Auto: How would you continue to do business if you wake up one morning to a stolen vehicle? If your business owns a vehicle or a fleet of vehicles, you will need commercial auto insurance. Your rates will be based on a number of unique factors, but at the end of the day, you'll feel good knowing you have the coverage you need.
  • Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Florida employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.


  • Tallahassee, FL
  • Business Insurance Common Coverage Options
  • Property: Keep your property safe. You can install cameras and a security system, but the only surefire way to be financially secure is with the right commercial insurance policy that protects against physical damage.
  • Commercial Auto: If your business owns a vehicle or two, you will need commercial auto insurance. But since your rates will be based on a number of factors, your rate could be above or below national and state averages. Talk to a local independent insurance agent to learn more.
  • Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Florida employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.