Largo Business Insurance

The Complete Largo, FL Business Insurance Guide

Find the right business insurance policy for you.

Largo, FL in the scenic Tampa Bay area is a magnet for growing families and small businesses. This laid back bedroom community is the perfect place to put down roots, raise a family and even start a small business. In previous years, there were 2,180,556 small businesses in Florida, providing employment to 3,000,167 people. Of course, owning a business also carries some heavy risks. In recent years, loss payouts to Florida businesses totaled $19,737,799. Every small-business owner in Largo should take action to minimize risks by investing in Largo business insurance. Our Independent Insurance Agents offer one-on-one support to small businesses that are searching for affordable Largo commercial insurance coverage options. From liability to property damage and even cybercrime, our experienced agents will help you design a commercial insurance plan that is perfect for your Largo business.

Liability insurance is a must for small businesses that want to succeed. The cost of even a single lawsuit is enough to ruin most of Largo’s small businesses. 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: Product liability is something you can’t afford to ignore. It only takes a single faulty product to cause damage to a customer or a customer's home. According to a national study, 71 percent of product liability awards by the courts amounted to $1 million or more. Take time to protect your small business from product liability claims by investing in commercial liability insurance.
  • Errors & Omissions/Professional Liability: E&O liability insurance provides a buffer of protection for businesses that focus on service rather than products. Consultants, contractors and marketing firms can all benefit from this coverage, which guards against “errors and omissions” and covers your legal costs if you are ever sued.

Business Interruption Insurance for Largo Businesses

  • Gross domestic product in recent years: 2.2%
  • Florida gross state product in recent years: 2.2%

Largo’s unpredictable storm systems can be worrisome for business owners. If a major storm damages your business property, you have to shut down until repairs are complete. While you’re waiting, you are stuck without any revenue. How long could your business survive in this kind of holding period? Business interruption insurance steps in to save small businesses by compensating them for lost profits after a disaster.

Property Insurance for Largo Businesses

  • 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

Largo business owners have a high risk of hurricanes and significant summer rainfall. The risks for flooding and wildfires is also worrisome, so make sure your property is covered with commercial property insurance. Then if a fire or flood causes damage, you can quickly access the funds you need to make repairs and get back to doing business.

Workers' Compensation for Largo Businesses

Employees can get injured in the blink of an eye. One moment, you see the employees stocking shelves, and the next, you hear screams of pain. One of your staff members is on the floor with a broken leg, and you’re responsible because it happened in your business. Workers' compensation steps in to pay for medical care and protect businesses from lawsuits after work-related injuries or illnesses.

Employee Coverages for Largo Businesses

  • 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

Finding affordable health care in Largo is definitely a challenge, but the experienced independent insurance agents can help. Our friendly agents can offer you quotes on multiple employee coverage policies so you can compare premiums and benefits and find a plan that will be a good fit for your employees and your business budget.

Cyber Crime Insurance for Largo Businesses

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

Florida has a raging problem with cyber crime and identity theft, and businesses in Largo really can’t afford to ignore this potential risk. You probably rely heavily on computers for daily operations such as receiving payments, tracking inventory and even doing your payroll. So what would happen if a hacker managed to get through to your company’s sensitive information? Studies show that only 22 percent of small businesses have a response plan in place to deal with data breaches and cyber-attacks. Make sure your company is prepared by investing in cyber crime insurance.

Our independent insurance agents provide a personalized approach to business insurance in Largo. Whether you’re shopping for product liability insurance, cyber crime coverage or property insurance, our friendly agents will point you toward the best options. You’ll receive quotes on multiple policies so you can choose a policy that not only protects your business but also keeps your bank account in good shape. 

Contact an agent today to get a free quote on Largo business insurance.

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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