Clearwater Business Insurance

Your Complete Clearwater, FL Business Insurance Guide

Find the right business insurance policy for you.

Located just west of Tampa, Clearwater is a growing community that attracts thousands of vacationers each year. This city provides endless opportunities in the retail, dining and service industries, making it a perfect choice for small businesses. Recently, there were 2,180,556 small businesses in Florida offering employment to 3,000,167 residents. During the same year, small businesses received $19,737,799 in payouts. If you choose to start a small business in Clearwater, FL, make sure you are covered with comprehensive commercial insurance to minimize your risks. 

Our Independent Insurance Agents specialize in Clearwater business insurance and can guide you toward the best coverage options in your price range. Liability insurance is really the bedrock of Clearwater business insurance. As you browse your coverage options, there are three types of liability insurance you should consider. 

  • General Liability: For a broad umbrella of business protection, consider general liability insurance. If an employee is injured on the job or a customer falls and has a major injury, this coverage will pay for the resulting medical expenses. According to a recent 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 amount to $1 million or more. If you are selling any type of product through your Clearwater small business, make sure you are covered with a product liability policy.
  • Professional Liability: Professional liability policies offer protection for professionals who offer services rather than physical products. If your job centers on offering advice in any way, make sure you have a professional liability policy to protect you from lawsuits or negligence claims. 

Business Interruption Insurance for Small Business

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

As the owner of a Clearwater small business, you carry the full responsibility for keeping your business running. So what would happen if you got sick or injured and needed to be out of work while you received medical care? This is just one example of an interrupting event that would be eligible for payouts through business interruption insurance, a vital asset for any new business that relies heavily on the owner for daily operations. 

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

Due to its close prolixity to the Gulf shore, Clearwater is a prime target for yearly tropical storm systems and hurricanes. That's why it's crucial for Clearwater small businesses to invest in property insurance coverage to pay for repairs if a storm does major damage.

Employee Coverages for Small Business

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

Finding the right employee coverages for your Clearwater small business can be a challenge, but our friendly agents can help. Our independent insurance agents can offer quotes on multiple employee coverage policies so you can find affordable plans for health care, life insurance, and workers' compensation for your staff. 

Cyber Crime Insurance for Small Business

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

Research shows that only 22 percent of small businesses have a response plan in place for cyber-attacks. Yet Florida has more identity theft complaints than any other state. If you run a business in Clearwater, this is definitely cause for concern. Make sure you have a plan in place to handle data breaches with cybercrime coverage as part of your Clearwater commercial insurance. 

Our experienced independent insurance Agents are your go-to source for all matters related to Clearwater business insurance. Whether you're an aspiring entrepreneur or an experienced small-business owner in Clearwater, do your homework and compare quotes with help from our network. 

Contact an Agent today to learn more about the best Clearwater business insurance and to receive your personalized commercial quote.

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