Whether you love hiking, horseback riding or competing in triathlons, Clermont, FL, is the perfect place to live and work in. This city is commonly called the "Choice of Champions," with an abundance of opportunities for active living and athletic competition. Clermont is also a hot spot for small businesses, with a steady flow of visitors coming to the area to take in the beautiful Florida weather and annual Clermont athletic events. If you are a small-business owner in Clermont, you are already in a good position for success. Just make sure you have comprehensive business insurance coverage.
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. Every small business faces considerable risks, but you can give your company the best chances by investing in Clermont commercial insurance. Our independent insurance agents offer personalized consultations to every business owner, which gives you the opportunity to browse policy options, ask questions and find the coverage that is right for your company.
Liability insurance is the cornerstone of any commercial insurance policy. Our independent insurance agents will walk you through your options, but here are the three main levels of liability coverage you should consider.
- General Liability: 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. If an employee gets hurt on the job or a customer falls and suffers an injury in your place of business, you'll need general liability coverage to pay for the resulting medical care.
- 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. This kind of settlement would be devastating for most small businesses, but product liability insurance can protect your Clermont small business.
- Professional Liability: Professional liability policies protect businesses that offer advice or services to the general public. If one of your employees has a small judgment error or gives bad advice to a customer, you could be deemed negligent in court. Professional liability insurance covers the cost of your defense and any settlement fees you incur in the process.
Business Interruption Insurance for Small Business
- Gross domestic product in recent years: 2.2%
- Florida gross state product in previous years: 2.2%
- The recent GSP was 0% lower than the previous GDP
Most small-business owners shoulder a heavy load to keep their company going. But if the business owner gets cancer or needs surgery, everything screeches to a halt. Would your business be able to continue operations if you were unable to be on site? If not, Interruption Insurance might be a smart investment to protect your company from lost profits due to eligible interrupting 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
Clermont is a wonderful place to live and work in, but natural disasters still pose a risk for small businesses. Wildfires, flooding, hurricanes, and tornadoes all pose serious threats, so make sure you are covered with property insurance in case you need to make repairs.
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 recent years: $5,408/person or $16,070/family
- Average national cost of workers' compensation per employee: $612
Selecting the best employee coverages for your staff can be confusing, but our experienced agents can help you navigate all the options. Our agents offer quotes from multiple policies so you can handpick the coverage you like best for health care, life insurance, and workers' compensation benefits.
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.
Research shows that only 22 percent of small businesses have a response plan in place for cyber attacks. With so much riding on technology in the modern workplace, cyber crimes are a serious threat. Take time to put together a response plan now, and invest in this specialized Clermont business insurance to protect your business assets in case of a data breach.
Choosing Clermont business insurance starts with a call to our caring agents. Our independent insurance agents are intimately familiar with the struggles that small-business owners face. They can help you look at all of your coverage options and select the policies that will be the best fit to protect your small business from serious threats. Contact an independent insurance agent today to get a personalized quote and to learn more about your coverage options for Clermont commercial insurance.