Coconut Creek Business Insurance

The Complete Coconut Creek, FL Business Insurance Guide

Find the right business insurance policy for you.

Money Magazine recognized Coconut Creek, FL as one of the "Best Cities to Live in America." This "Butterfly Capital of the World" offers a growing climate for small businesses, with many incentives for entrepreneurs looking for a chance at success. Recently, there were 2,180,556 small businesses in the Sunshine State, providing jobs to 3,000,167 employees. During the same year, insurance payouts to Florida businesses topped out at $19,737,799.

While owning a small business can have many rewards, there are also lots of risks to consider, so make sure are covered with the best Coconut Creek business insurance. Our Independent Insurance Agents offer a customized approach to commercial insurance, explaining all of your coverage options and finding you the best commercial policy at a price you can afford. Every small business needs the protection of liability insurance. As you shop for the best Coconut Creek commercial insurance, there are three types 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. This blanket coverage will protect your business 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. If your small business was faced with this kind of settlement, would you be able to pay it without total financial ruin? If not, product liability insurance will give you peace of mind that you are covered in case a defective product ever leads to a lawsuit.
  • Professional Liability: Coconut Creek small businesses that offer public services rather than physical products will benefit most from professional liability coverage. If an employee makes a judgment error that causes harm to one of your customers, your business could be liable. This type of insurance protects you in case you are ever sued as a result of advice from one of your employees. 

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 2014 GDP

As a small-business owner, you are the heartbeat of your company. If you get sick or injured, and cannot make it to work, your profits can suffer greatly. Worst of all, your potential business will turn to the competition. Even a small interruption can have long-lasting consequences, so make sure you are prepared with business interruption coverage as part of your Coconut Creek commercial insurance policy. 

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

Coconut Creek is a coastal community, meaning there's a strong chance that you could be faced with flooding, high winds, and even hurricane damage. Property insurance for your small business makes it possible to make repairs to your business space quickly even if funds are running low.

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.
  • 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

One of the most challenging aspects of operating a small business is finding the best employee coverages. Our independent insurance agents can help you find the most affordable employee coverages for your staff regardless of your company size or budget. 

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.

Florida small businesses are constantly at risk for cybercrime and data breaches. However, studies show that only 22 percent of small businesses are prepared with a response plan for cyber-attacks. Talk to an agent about how cybercrime insurance can protect your company's financial information against data breaches. 

As a small business in Coconut Creek, you face dozens of things that can go wrong and have a devastating snowball effect on your ability to keep the doors open. A slip and fall accident in your parking lot, a data breach or a tropical storm can bring your business to a screeching halt. Make sure you are covered with the best Coconut Creek commercial insurance. Even if your company is operating on a tight budget, our independent insurance agents can help you find affordable coverage. Our agents can quote from multiple policies, giving you more options in a variety of price ranges so you can find the right policy for your business. 

Contact an agent today to get your personalized quote on Coconut Creek business insurance. 

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