Naples Business Insurance

The Complete Naples, FL Business Insurance Guide

Naples, FL is a family-friendly destination that offers beautiful beach views and a nice assortment of shops and boutiques. Here, you’ll find an eclectic mix of waterfront dining and swanky resort restaurants. With a steady flow of curious tourists, Naples is a perfect place to start a business. In 2014, 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 2014, loss payouts to Florida businesses totaled $19,737,799. You can minimize your risk as a business owner by investing in comprehensive Naples business insurance. Trusted Choice® Independent Insurance Agents provide personalized support to small businesses that are looking for commercial insurance solutions to protect against liability, property damage and even cyber crime. 

Liability issues can lead to bankruptcy for many small businesses that fail to prepare for this common issue. According to the 2015 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 the least prepared to handle this issue.

  • Product Liability: Product liability insurance protects your company if a customer ever sues you over a defective product. If you sell a product that causes someone to get hurt, you could be in trouble, both legally and financially. According to a national study, 71 percent of product liability awards by the courts amounted to $1 million or more.
  • Errors & Omissions/Professional Liability: E&O Liability insurance is the best option if your company provides services rather than selling physical goods. This type of policy is mostly used by consultants, counselors and advisors. If one of your clients sues you for giving bad advice, your professional liability insurance steps in to help pay for legal fees and settlements.

Business Interruption Insurance for Naples Businesses

  • Gross domestic product in 2014: 2.2%
  • Florida gross state product in 2014: 2.2%

Small-business owners work hard to keep their companies afloat, especially during those first few years. Even the slightest interruption can be devastating for a small business, and that’s why business interruption insurance is so important. If your business gets hit by a hurricane or is damaged in a fire, business interruption insurance pays you for lost profits during the time you have to close down and make repairs.

Property Insurance for Naples Businesses

  • Number of natural disasters in 2014: 119
  • Only 61% of losses from natural disasters were covered
  • Total uncovered property damage in 2014: $9.7 billion

Naples has a long history of serious coastal storms and hurricanes. Property damage after these storms can total millions of dollars for local businesses, so it’s crucial that you safeguard your company by investing in commercial property insurance.

Workers' Compensation for Naples Businesses

If your business plans to hire employees, you need workers' compensation insurance. This policy pays for medical bills and lost wages if an employee is hurt on the job. Workers' comp also goes a long way to protect you from serious lawsuits after a workplace injury.

Employee Coverages for Naples Businesses

  • Total 2013 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 2013: $5,408/person or $16,070/family

If you’re struggling to find affordable health and life insurance coverages for your Naples business, you aren’t alone. The cost of health care continues to climb, leaving many small businesses struggling to find affordable solutions. Trusted Choice Independent Insurance Agents can help you tackle this issue by providing quotes on multiple policies. Take time to compare premiums, and find a plan that works within your small business budget. 

Cyber Crime Insurance for Naples Businesses

  • 37,059 Identity theft complaints in Florida in 2014
  • Ranked #1 highest for identity theft complaints in the U.S.

Florida is the leading state in the nation for identity theft complaints, but most businesses don’t even stop to consider the threat of cyber attacks until it’s too late. Only 22 percent of small businesses have a response plan in place to deal with cyber breaches, and this is a costly mistake that could jeopardize your company’s future. Cyber crime insurance protects your company’s financial assets if you are ever attacked by a hacker.

Trusted Choice Independent Insurance Agents offer personalized support to every business owner in Naples. Shopping for commercial insurance has never been so easy. With an experienced agent at your side, you can explore all of your coverage options and build a customized business insurance plan that is right for your company. To get your free quote on Naples commercial insurance, contact a Trusted Choice Agent today.

Now, who's ready to get their insurance problems solved?