Pensacola Business Insurance

The Complete Pensacola, FL Business Insurance Guide

Find the right business insurance policy for you.

Pensacola is known for the world’s whitest beaches and its thriving coastal community that offers year-round hospitality to curious tourists. Businesses thrive in Pensacola, thanks to a welcoming community and many incentives that help new entrepreneurs succeed. 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 Pensacola business insurance.

Our Independent Insurance Agents take the guesswork out of shopping for business insurance. With a caring agent on your side, you can get a detailed look at all of your coverage options and design a customized policy that will protect your business from the most common Pensacola threats.

Liability insurance is the cornerstone of any commercial insurance policy. 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. You never know when an accident could happen so make sure you’re always prepared and covered by the best general liability insurance in Pensacola. 

Product Liability: According to a national study, 71% of product liability awards by the court amount to $1 million or more. This major financial expense is often far too great for a small business to handle on its own. That’s why many Pensacola businesses invest in product liability insurance. This policy will safeguard your company’s assets in case you ever get sued for a defective product. 

E&O/Professional Liability: Sometimes liability lawsuits are aimed directly at a professional for judgment errors, omissions, or contract breaches. If a disgruntled client ever comes back to sue you, having a professional liability insurance policy will give you peace of mind that you have the resources necessary to mount a strong legal defense or pay any settlement necessary to keep the case out of court. 

Business Interruption Insurance for Pensacola Businesses

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

Business interruption insurance is absolutely essential for small businesses in Pensacola, where the threat of natural disasters is ongoing and severe. If a hurricane strikes in your city and your business property is destroyed, business interruption insurance will compensate you for the revenue you lose while you rebuild and make repairs. This policy can help bridge the financial gap after a disaster, making it possible to pick up the pieces and keep chasing your professional dreams without permanent damage to your business finances. 

Property Insurance for Pensacola 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

Pensacola is located in a high-risk hurricane zone. Hurricane Ivan demolished 10,000 local homes and left 27,000 more with extreme damage. By the time the storm passed, there was $6 billion in damage to local homes and businesses. With commercial property insurance, you can have peace of mind that you always have the financial resources you need to make repairs or to completely rebuild if a serious catastrophe hits in your neighborhood. After numerous hurricanes in the past fifty years, Pensacola businesses just can’t afford to skimp on commercial property insurance.

Worker's Compensation for Pensacola Businesses

Worker’s compensation offer protection to both your business and employees by handling all work-related injuries or illnesses. If an employee falls on the job and gets hurt, your worker’s comp policy will pay for the hospital bills and rehabilitative services, along with lost wages. Worker’s comp also offers protection for your business, by safeguarding against lawsuits related to the accident.

Employee Coverages for Pensacola 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

Small businesses in Pensacola often struggle to provide affordable healthcare and life insurance coverage for employees. Yet today’s workforce is increasingly interested in finding jobs that offer these benefits. Trusted agents can help you choose employee coverages that won’t put an unnecessary financial strain on your budget. Our agents can offer you quotes on multiple policies, giving you a chance to do a side-by-side comparison of the cost and benefits of each plan. This could add up to significant savings in the long run.

Cyber Crime Insurance for Pensacola Businesses

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

Reports show that only 22% of small businesses have a response plan in place to deal with data breaches and cyber-attacks. However, cybercrime is a huge problem, particularly for Florida businesses. If a hacker targets your company, it could mean a dangerous breach of your sensitive financial information. Cybercrime insurance protects your company’s assets and gives you an instant response plan in case you ever face a major cyber attack. 

As a business owner, you invest everything into your company in hopes that it will succeed. When you have so much on the line, you just can’t afford to ignore the benefits of business insurance. By investing in an affordable commercial insurance policy, you could effectively save your company from paying thousands of dollars in property repairs, liability settlements, or cybercrime recovery. Our independent insurance agents can help you navigate the maze of business insurance and design a policy that addresses your biggest concerns. 

Contact an agent today to receive a free personalized rate quote on Pensacola commercial insurance. 

Share this page on Twitter Share this page on Facebook Share this page on LinkedIn

TrustedChoice.com Article | Reviewed by Jeffrey Green

©2020, Consumer Agent Portal, LLC. All rights reserved.