Pembroke Pines Business Insurance

The Complete Pembroke Pines, FL Business Insurance Guide

Find the right business insurance policy for you.

Pembroke Pines was recognized as one of the “Fastest Growing Cities” in America in 1999. Today, it continues to grow and thrive with a blossoming local economy and abundant opportunities for small businesses. 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. Recently, loss pay-outs to Florida businesses topped out at $19,737,799. The best way to protect your business is by investing in Pembroke Pines business insurance.

Our Independent Insurance Agents offer customized business insurance solutions in Pembroke Pines. Our caring agents understand that every business is unique and there is no one-size-fits-all commercial insurance. That’s why each business owner is given personal attention and support while building a reliable business insurance plan that will protect from the most concerning Pembroke Pines risks.

Even a minor accident can have devastating consequences for a small business. Liability lawsuits are one of the leading reasons that a small business has to close the doors. According to a recent Travelers Business Risk Summary, 60% of small business owners ranked medical cost inflation as their highest concern and more than 30% said they felt least prepared to handle this issue. 

Product Liability: According to a national study, 71% of product liability awards by the court amount to $1 million or more. Whether you’re designing, manufacturing, or selling products as part of your business, you need the protection of product liability insurance. If your Pembroke Pines business gets sued over a defective product, this policy will cover the cost of legal fees and handle any court-ordered payments to the plaintiff.

E&O/Professional Liability: E&O Liability insurance protects consultants and other professionals who offer public services rather than physical products. This policy protects you against legal claims of errors and omissions, or contract breaches. 

Business Interruption Insurance for Pembroke Pines Businesses

  • Recent Gross Domestic Product: 2.2%
  • Recent Florida Gross State Product: 2.2%

Business interruption insurance is a life-saving policy for many small companies in the face of an unexpected tragedy. If your commercial space is damaged by a natural disaster and you have to close down temporarily to make repairs, this policy will pay you for the revenue you lose during the downtown. This is sometimes the only way a company can stay afloat after a hurricane, fire, or flood.

Property Insurance for Pembroke Pines 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

Pembroke Pines has a long history of serious hurricanes that bring heavy winds, torrential rainfall, and widespread destruction to local businesses. Property damage can place a major financial strain on a small business, but commercial property insurance gives you the resources you need to make repairs without tapping into your business bank account.

Worker's Compensation for Pembroke Pines Businesses

Worker’s compensation is an insurance policy that offers protection for both your Pembroke Pines business and your employees. If an employee gets hurt on the job, worker’s comp will pay the medical bills along with lost wages during recovery. The policy will also protect your company from any lawsuit related to the injury.

Employee Coverages for Pembroke Pines Businesses

  • Total recent Spending on Premiums in Florida: $3,131,293
  • Ranked 49th for Highest Premiums in the US
  • Annual Cost of Health Care for Small Businesses in recent years: $5,408/person or $16,070/family

As healthcare costs continue to climb each year, many small businesses in Pembroke Pines struggle to find affordable coverage for employees. Our agents can point you towards the most budget-friendly options for health insurance, life insurance, and disability benefits. Our agents offer rate quotes on multiple policies, giving you the chance to compare premiums and benefits so that you can choose the coverages that are best for your business.

Cyber Crime Insurance for Pembroke Pines Businesses

  • 37,059 Identity Theft Complaints in Florida in recent years
  • Ranked #1 Highest for Identity Theft Complaints in the US

Florida has more reports of identity theft than any other state in the nation. However, the threat is not just confined to individuals. Businesses can also be targeted by hackers and the damage can be severe. Only 22% of small businesses have a response plan in place to deal with data breaches and cyber-attacks. Independent insurance agents can help you choose a cybercrime insurance policy that will protect your company’s assets in case you ever find yourself in the middle of a serious breach. 

Selecting the best commercial insurance for your Pembroke Pines company starts with a call to our independent insurance agents. Our caring agents will take time to explain your coverage options and help you compare rates to find the most affordable policy for your business. With years of experiencing in helping small business owners succeed, our agents can help you figure out the areas where you face the highest risk and then build a commercial insurance plan that will protect your business. 

Contact an agent to learn more about Pembroke Pines commercial insurance and get a free rate quote today.

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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