Just south of Palm Beach, you'll find a growing coastal community called Boynton Beach. This area offers some of Florida's most stunning coral reefs along with oceanfront parks and well-kept beaches. Business owners love Boynton Beach because of the endless opportunities to appeal to tourists and the annual snowbirds that ride out the winters in the warm Florida sun. Since the previous year, there have been 2,180,556 small businesses in Florida offering employment to 3,000,167 residents. But during that same year, small businesses received $19,737,799 in payouts. If you are a small-business owner hoping to find success in this area, you will need a reliable Boynton Beach business insurance policy.
Finding business insurance begins with a call to the right Independent Insurance Agents. Our friendly agents are experts when it comes to commercial insurance, and they will walk you through your options, answer your questions and provide quotes on multiple policies. Whether you need liability protection, property insurance or employee coverages, Independent Insurance Agents can help.
Liability insurance offers protection against personal injury, property damage, and potential lawsuits. Some professionals are required to carry liability insurance before they can work in certain settings. Whether it's required or not, liability business insurance is always a smart choice.
- General Liability: General liability insurance provides an umbrella of protection for your business. If an employee gets injured on the job or a customer falls on your property, liability coverage could save your business financially. According to a Travelers Business Risk Summary, 60 percent of small-business owners ranked medical cost inflation as their highest concern and more than 30 percent said they felt least prepared to handle this issue.
- 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. If a defective product causes an injury or damage to a customer's property, you will be liable. Make sure you are covered with the best Boynton Beach business insurance.
- Professional Liability: Professional liability protects your company after accusations of negligence. This coverage pays for defense costs, medical bills or other financial hardships as a result of your professional interactions.
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
As the owner of a small business, only you are responsible for keeping your company on track. But what if you get cancer and need to spend a few months receiving treatments? What if you need surgery and have to be out of work while you recover? In these situations, business interruption insurance compensates you for lost profits at the end of the year, making it possible to mitigate losses and move forward with your business dreams.
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
Boynton Beach has been hit with 78 hurricanes since 1930. If a big storm causes damage to your property, having a reliable property insurance policy will make it possible to pay for repairs quickly and get back to work with minimum time lost.
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 to find loyal, hard-working employees, you'll have to offer some real incentives. Today's employees are looking for good health care, life insurance, and workers' compensation benefits. Independent Insurance Agents can help you shop around for the most affordable employee coverages in any price range.
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.
Businesses in Boynton Beach often rely on technology for daily operations. If a disgruntled employee steals your financial information or you find yourself as a victim of identity theft, it could spell disaster for your company's bank account. Only 22 percent of small businesses have a response plan in place for cyberattacks, so make sure you are the exception. Be prepared for anything by adding cybercrime coverage to your Boynton Beach commercial insurance policy.
If you want to run a successful Boynton Beach small business, you will need to think ahead and be prepared for potential liability issues. Independent Insurance Agents are familiar with the unique risks that a small business will face, and our experienced agents can help you find the best coverage to protect you from financial hardship. Contact an agent today to learn more about Boynton Beach business insurance and to receive a free quote on the coverage options that interest you most.