Aventura Business Insurance

The Complete Guide to Aventura Florida Business Insurance

Find the right business insurance policy for you.

Aventura, FL is a hot spot for tourists with the luxurious Turnberry Isle Resort attracting thousands of vacationers each year. People come from across Florida to shop at the Aventura Mall, well known as the fifth largest shopping mall in the United States. Even with all the big businesses crowding the city, small businesses still shine in Aventura. In fact, Florida is one of the best states for entrepreneurs seeking new opportunities. Since the previous year, there have been 2,180,556 small businesses in Florida, providing jobs to 3,000,167 employees. However, starting a business in Florida doesn't come without risks. During that same year, these businesses received $19,737,799 in insurance payouts. If you are a small-business owner in Aventura, make sure you are protected with comprehensive business insurance.

Finding the best Aventura commercial insurance starts with a call to Independent Insurance Agents. Our experienced agents know the ins and outs of business insurance and can help you find the best coverage options whether your business is brand new or has been around for decades. 

For a small business, liability insurance is critical for its ongoing success. It only takes a single moment of bad judgment or a solitary fall on your premises for your business to be wrapped up in a lengthy and expensive lawsuit. That's why every Aventura small business should invest in liability coverage.

  • General Liability: This most basic form of liability insurance covers the costs if your business is sued for accidents or injury. 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. With general liability insurance, you can have peace of mind that your business is covered.
  • Product Liability: If a product defect causes physical harm to a customer or to someone's property, your business will be responsible for the damages. 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. With so much at stake, make sure you have product liability coverage before you open the doors to customers.
  • Professional Liability: Many small businesses offer services rather than physical products. If that's the case for your company, you will need professional liability coverage. This policy option offers protection against lawsuits for negligence. If you give advice that a client deems is harmful, professional liability insurance will cover the cost of negotiating a settlement or handling the issue in court. 

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

If you find yourself dealing with a serious illness or family emergency, you may have to shut down your business for a brief period of time. Business interruption insurance offers protection against profit losses during eligible interruptive events. 

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

The balmy weather in Florida is what initially attracts many small businesses to the area. However, living near a coastal region could mean frequent property repairs. With storm surges, hurricanes and frequent flooding, every Florida business should have the protection of property coverage as part of its commercial insurance policy.

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

If you want your employees to stick around and be loyal to your company, you have to be prepared to provide excellent benefits like health care, life insurance, and workers' compensation. Experienced Independent Insurance Agents can offer quotes on multiple policies so you can choose affordable Aventura Business insurance that includes these must-have employee coverage options.

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.

Cybercrime is a serious threat in Aventura. In fact, Florida has the nation's highest number of identity theft complaints. Many small-business owners fail to think about the consequences of a data breach, and current research shows that only 22 percent of small businesses have a response plan in place for cyberattacks. Make sure you plan ahead with comprehensive coverage that includes cybercrime insurance for your Aventura small business. 

Starting a small business is hard work, so don't let property damage, liability claims, or cybercrime stand in the way of your success. Independent Insurance Agents can guide you through your policy options and help you find reliable Aventura business insurance with the best protection for your company. Contact an agent today to learn more about Aventura commercial insurance and to get a customized quote for your small business. 

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