Lauderhill Business Insurance

The Complete Lauderhill, FL Business Insurance Guide

Find the right business insurance policy for you.

Lauderhill is a beautiful Florida city, with endless opportunities for small businesses. This cultural melting pot has an eclectic mix of people coming from the Caribbean, West Indies, and Jamaica. With a growing population and a steady flow of tourist traffic, Lauderhill, FL is a great place to start a small business. Recently, 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 previous years, loss payouts to Florida businesses reached $19,737,799. The best way to minimize your risk as a small business is to invest in Lauderhill business insurance.

Our Independent Insurance Agents offer Lauderhill business owners one-on-one support in building a customized commercial insurance plan. Whether you’re concerned about liability, property damage or cyber crime, our experienced agents can design a Lauderhill commercial insurance policy that will protect you against the most common threats. 

Every Lauderhill small business will benefit from liability insurance. 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. It only takes one lawsuit to cause major damage to a small business, so make sure you’re prepared with general liability coverage.

  • Product Liability: If you design, manufacture or sell products as part of your business, you could be at risk for a product liability lawsuit. If a defective product injures one of your customers or a customer's property, you would be liable to pay for damages. According to a national study, 71 percent of product liability awards by the courts amounted to $1 million or more. Make sure your business is safeguarded against liability threats by having a reliable product liability insurance policy.
  • Errors & Omissions/Professional Liability: E&O liability insurance is an option that protects consultants, contractors and other professionals. This policy protects you from claims of errors and omissions. If you ever get sued by a client, your professional liability coverage could be a lifesaving backup to help your business survive. 

Business Interruption Insurance for Lauderhill Businesses

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

As a small-business owner, you probably work very hard to make sure your company succeeds. However, sometimes even the best laid plans fail due to uncontrollable circumstances. If a hurricane blows across Lauderhill and causes serious damage to your commercial property, you’ll have to shut down to make repairs. This sudden loss of revenue is often too much for a young or struggling business to absorb without going under. Business interruption insurance steps in to compensate you for lost profits after a disaster, giving you the resources you need to pick up and start fresh.

Property Insurance for Lauderhill 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

Lauderhill is a beautiful place to live in and run a business, but the Florida weather is oftentimes unpredictable. As a high risk hurricane zone, Lauderhill has a long history of serious storms. At any time, your business could face wind damage, flooding or even a fire after a major lightning storm. Take time to protect your commercial property by investing in a property insurance policy designed to protect small businesses.

Workers' Compensation for Lauderhill Businesses

Workers' compensation is an important part of a business insurance plan because it protects your company from lawsuits if an employee gets sick or injured on the job. Your workers' comp policy covers the employee’s medical bills and gives you a buffer of protection so that you won’t be sued after job-related accidents.

Employee Coverages for Lauderhill Businesses

  • 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

Finding quality health insurance benefits for your employees can be challenging, especially if your small business is operating on a tight budget. However, offering these employee coverages goes a long way in helping you build a devoted and loyal long-term staff. our independent insurance agents can provide you with quotes on multiple policies so you can compare your options and find a plan that works for your small-business budget.

Cyber Crime Insurance for Lauderhill Businesses

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

Cyber crime is especially problematic across Florida, with identity theft complaints reaching the thousands each month. Small businesses aren’t exempt from cyber crime, and many are actually prime targets due to the easy access to sensitive financial information. Research shows that only 22 percent of small businesses have a response plan in place to deal with cyber-attacks and data breaches. If your company hasn’t made a plan, it’s time to look into the benefits of cyber crime insurance.

Choosing the best commercial insurance can seem like an impossible task, but our independent insurance agents make the whole process simple. Our friendly agents specialize in helping small-business owners find affordable coverages for liability, property damage, business insurance and cyber crime. Whether you’re shopping for health care policies for your employees or a comprehensive business insurance policy that covers multiple risks, our agents can help. 

Contact an agent today to get your free customized quote on Lauderhill business insurance.

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