Popular QuestionsPopular Questions About Florida Business Insurance

Why Should I have 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.

How Have Other Business Owners Used Their Business Insurance?

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
How does Florida Business Insurance Help Me?

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.

What Insurance Does Florida Require for Businesses?

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.

How Much Does Florida Business Insurance Cost?

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
How Do I Find the Best Business Insurance in Florida?

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.
What are the Top Business Insurance Companies in Florida?

An independent insurance agent compares policies from multiple companies to find the best coverage for your needs.

liberty mutual insurance
westfield insurance
cna insurance

InformationFind the Best Insurance in Your City

How does your city measure up?

• Number of business in the U.S.: 27,626,360
• Number of businesses in Florida: 2,100,187
• Burglary rate per 1,000 residents in the U.S.: 4.69
• Burglary rate per 1,000 residents in Florida: 4.87
• Auto theft rate per 1,000 vehicles in the U.S.: 2.37
• Auto theft rate per 1,000 vehicles in Florida: 2.09



CityPopulationNumber of Established FirmsBurglary Rate Per 1,000 ResidentsAuto Theft Rate per 1,000 Vehicles
Tampa377,16544,8115.091.39
Jacksonville880,61970,1927.952.31
Miami453,57998,2228.675.26
Naples21,8459,1634.140.72
Orlando277,17337,54412.873.82
Tallahassee190,89415,71412.343.55
Gainesville131,5919,7644.632.33
Fort Lauderdale178,75232,91711.153.87
Melbourne81,1857,5185.911.40
St. Petersburg260,99925,54510.415.58
Boyton Beach75,56910,0887.302.26
Bradenton55,6875,4087.951.49
Cape Coral179,80418,2814.030.90
Clearwater114,36112,4886.861.91
Clermont33,5494,01514.062.97
Coconut Creek59,4056,8544.331.21
Coral Gables50,81513,2186.201.71
Coral Springs130,05918,0152.760.86
Cutler Bay44,7075,9413.911.97
Davie101,87112,6765.791.96


Tampa, FL Business Insurance Cost Factors

Covering Your Business Assets

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

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.

Based on a $100,000 annual payroll, here is what the two leading industries in Tampa, FL workers comp cost looks like.

  • Retail Trade Industry - $2,000/year 
  • Professional, Scientific, and Technical Services Industry - $5,200/year 

If you're in these industries, you need the proper workers' compensation coverage. Each type of business has its own associated risks, bringing a variety of average rates into the mix, but a workers’ compensation policy will pay out benefits to most employees who are hurt while performing their job.

Jacksonville, FL Business Insurance Cost Factors

Covering Your Business Assets

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

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.

Based on a $100,000 annual payroll, here is what the two leading industries in Jacksonville, FL workers comp cost looks like.

  • Retail Trade Industry - $2,000/year 
  • Construction Industry - $7,020/year 

A construction company is going to have different employee-related risks than a retail store. That's why these numbers matter so much. But it's all in relation to workers' compensation coverage — the necessary type of insurance that a business must have to protect itself.

Miami, FL Business Insurance Cost Factors

Covering Your Business Assets

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 

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.

Based on a $100,000 annual payroll, here is what the two leading industries in Miami, FL workers comp cost looks like.

  • Construction Industry -  $7,020/year 
  • Accommodation and Food Services Industry - $2,220/year 

If you're in one of the two most popular business industries, you need the right kind of coverage. But because there are much different risks associated with each one, the amount of workers' compensation coverage will vary greatly.

Naples, FL Business Insurance Cost Factors

Covering Your Business Assets

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

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.

Based on a $100,000 annual payroll, here is what the two leading industries in Naples, FL workers comp cost looks like.

  • Retail Trade Industry - $2,000/year 
  • Finance and Insurance Industry - $230/year

These are the top two most common businesses in the area, but each industry comes with its own business risks. That's why workers' compensation rates vary and why you should just use the numbers as a baseline.

Fort Lauderdale, FL Business Insurance Cost Factors

Covering Your Business Assets

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

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.

Based on a $100,000 annual payroll, here is what the two leading industries in Fort Lauderdale, FL workers comp cost looks like.

  • Retail Trade Industry - $2,000/year
  • Professional, Scientific, and Technical Services Industry - $5,200/year

Every industry has its own risks, and employee-related injuries and damage are no exception. When it comes to the top two most common industries in the Fort Lauderdale area, you can see a big difference in average rates for workers' compensation coverage. But that's because a number of unique factors go into the calculation.

Orlando, FL Business Insurance Cost Factors

Covering Your Business Assets

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

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.

Based on a $100,000 annual payroll, here is what the two leading industries in Orlando, FL workers comp cost looks like.

  • Retail Trade Industry - $2,000/year 
  • Accommodation and Food Services Industry - $2,220/year

An employee at a retail store will have different risks than a server in a restaurant. Because accidents happen, a business needs the proper amount of workers' compensation coverage — no matter the industry.

Gainesville, FL Business Insurance Cost Factors

Covering Your Business Assets

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

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.

Based on a $100,000 annual payroll, here is what the two leading industries in Gainesville, FL workers comp cost looks like.

  • Educational Services Industry - $420/year
  • Retail Trade Industry - $2,000/year

These rates are calculated from a base of averages for workers' compensation coverage, so consider them with a grain of salt. Your company's rate will vary, depending on what industry you're in and what associated risks there are. Workers’ compensation insurance is a complicated product, and it is always best to talk to an expert when shopping for coverage.

Melbourne, FL Business Insurance Cost Factors

Covering Your Business Assets

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

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.

Based on a $100,000 annual payroll, here is what the two leading industries in Melbourne, FL workers comp cost looks like.

  • Manufacturing Industry - $4,750/year 
  • Retail Trade Industry - $2,000/year 

Both are important contributors to the economy, but each has its own unique risks. For employees, there's a greater chance of being injured in a factory than in a storefront, which is why workers' comp coverage is more expensive.

St. Petersburg, FL Business Insurance Cost Factors

Covering Your Business Assets

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

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.

Based on a $100,000 annual payroll, here is what the two leading industries in St. Petersburg, FL workers comp cost looks like.

  • Retail Trade Industry - $2,000/year
  • Accommodation and Food Services Industry - $5,200/year

If you're a business owner in the retail and restaurant world, you need the proper coverage to protect yourself and your employees. Workers' compensation is necessary for all-around financial protection, but depending on what industry you're in, monthly rates can vary. Talk to a local independent insurance agent to understand what goes into determining your industry's insurance rates.

Tallahassee, FL Business Insurance Cost Factors

Covering Your Business Assets

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 

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.

Based on a $100,000 annual payroll, here is what the two leading industries in Tallahassee, FL workers comp cost looks like.

  • Public Administration Industry - $230/year 
  • Retail Trade Industry - $2,000/year 

You may see a stark difference here, but that's because no two industries are the same. Employees within each sphere have different kinds of risks in the workplace. Educate yourself on the differences, and talk to a local independent insurance agent about how to find a rate that makes sense for you.