Altamonte Springs Business Insurance

The Complete Altamonte Springs Business Insurance Guide

Find the right business insurance policy for you.

Located in the northern suburbs of Orlando, Altamonte Springs, FL offers endless opportunities for entrepreneurs to start new businesses or expand their existing operations. When it comes to small business, Florida is a great place to put down roots. Since the previous year, there have been 2,180,556 small businesses in the Sunshine State, providing jobs to 3,000,167 employees. During that same year, insurance payouts to Florida businesses topped out at $19,737,799. If you decide to start a business in Altamonte Springs, make sure you are protected with comprehensive business insurance.

Independent Insurance Agents can help you navigate the complicated world of commercial insurance coverage. Our friendly agents can explain all of your coverage options and help you create a customized Altamonte Springs business insurance plan that protects against property damage, liability and even cybercrime. 

Whether your Altamonte Springs business has been serving the area for a few days or for decades, you need liability coverage. There are three main types of liability insurance that can benefit your small business.

  • General Liability: According to a Travelers Business Risk Summary, 60 percent of small-business owners ranked medical cost inflation as their deepest concern and more than 30 percent said they felt least prepared to handle this issue. General liability coverage ensures that your company's assets are protected if someone gets hurt on your property.
  • Product Liability: According to a national study, 71 percent of product liability awards and 53 percent of medical malpractice awards by the courts amounted to $1 million or more. Even if you exercise vigilant quality control, a defective product could slip through. Make sure you are prepared with product liability coverage.
  • Professional Liability: For the Altamonte Springs small businesses that are focused on services rather than retail sales, professional liability is essential. If you give advice that causes harm to a client, you could be held liable for negligence. Professional liability coverage gives you a buffer of protection so that you can afford to keep going even if you face a lawsuit.

Business Interruption Insurance for Small Business

  • Gross domestic product in recent years: 2.2%
  • Florida gross state product in recent years: 2.2%
  • The recent GSP was 0% lower than the recent GDP

Small interruptions can cost your business a fortune in lost profits. If a hurricane crosses through Altamonte Springs and causes damage to your commercial property, you will have to shut down until repairs are finished. Business interruption insurance compensates your company for any losses you face during a covered interrupting event.

Property Insurance for Small Business

  • Number of natural disasters in recent years: 119
  • Only 61% of losses from natural disasters were covered
  • Total uncovered property damage in recent years: $9.7 billion

Neglecting to purchase property insurance for your Altamonte Springs small business could spell disaster for your company's financial future. Operating a business in Florida means dealing with unpredictable weather, tropical storms, and coastal flooding. Property insurance gives you a way to pay for repairs when needed, without added stress to your monthly fiscal budget. 

Employee Coverages for Small Business

  • Total recent spending on premiums in Florida: $3,131,293
  • Ranked 49th for the highest premiums in the U.S.
  • The annual cost of health care for small businesses in recent years: $5,408/person or $16,070/family
  • The average national cost of workers' compensation per employee: $612

Florida has some of the lowest premiums for employee insurance in the United States, which is good news for business owners in Altamonte Springs. You can provide your employees with excellent health insurance, life insurance, and workers' compensation benefits at an affordable price with help from Independent Insurance Agents. 

Cyber Crime Insurance for Small Business

  • 37,059 Identity theft complaints in Florida in recent years
  • Ranked highest for identity theft complaints in the U.S.

Identity theft and cybercrime are serious problems for small businesses in Altamonte Springs. Florida has more identity theft complaints than any other state in the nation. Unfortunately, only 22 percent of small businesses have a response plan in place for cyberattacks and data breaches. If you are doing business in Altamonte Springs, make sure you are covered with cybercrime insurance designed to protect small businesses.

When you put in the blood, sweat, and tears to make a small business succeed, you don't want to risk a tropical storm or a simple slip and fall accident ruining everything for your company. The experienced Independent Agents specialize in helping small businesses succeed by having the best commercial insurance coverage. Our agents can quote from multiple policies and help you create a customized policy with the coverage that matters most for your business. Contact an agent today to learn more about the best Altamonte Springs small business insurance. 

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