Plantation Business Insurance

The Complete Plantation, FL Business Insurance Guide

Find the right business insurance policy for you.

Plantation is a picturesque community in the heart of Broward County, Florida. Over the years, Plantation has been featured in a number of popular films like “Caddyshack” and “There’s Something About Mary”. The city’s beautiful scenery is only one perk of living in Plantation. It’s also a perfect place to 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. Recently, loss pay-outs to Florida businesses topped out at $19,737,799. The best way to protect your business is by investing in Plantation business insurance. 

Our Independent Insurance Agents provide personalized support to Plantation business owners who are searching for affordable commercial insurance solutions. With an experienced agent on your side, you can create a customized business insurance policy that will protect against liability, property damage, business interruptions, and even cyber crime. 

Liability lawsuits are a threat that every business has to address. Whether you own a retail store or a consulting firm, liability issues can pose a major challenge. 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. The best way to safeguard your Plantation company against liability lawsuits is by investing in a general liability insurance policy. 

Product Liability: According to a national study, 71% of product liability awards by the court amount to $1 million or more. Even if you pay careful attention to quality control, a defective product could slip by unnoticed leading to a massive lawsuit that could put your whole business in jeopardy. Product liability insurance offers a buffer of protection to help your company stay afloat if you ever get sued. 

E&O/Professional Liability: For businesses that offer consulting, marketing, photography, or other public services, professional liability insurance can be crucial. If an unhappy client decides to sue you for errors or omissions, your professional liability insurance will cover the cost of your legal defense and any related settlements. 

Business Interruption Insurance for Plantation Businesses

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

Plantation businesses face a high risk for natural disasters that can cause devastating property damage. If a hurricane crosses through Plantation and leaves your business flooded, you will have to close down to make repairs. This can sometimes take weeks or even months to complete. In the meantime, business interruption insurance will pay you for lost profits, giving you the revenue you need to stay afloat after an unexpected interruption. 

Property Insurance for Plantation 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

Plantation is located in a high risk zone for both hurricanes and tornadoes. Since 1930, there have been 76 hurricanes in the city, but tornadoes are even more common. There have been 235 tornadoes recorded in Plantation since 1950, with an average of four each year. If one of these serious storms causes damage to your business property, you can file a claim with your commercial property insurance to receive the compensation you need to make repairs. 

Worker's Compensation for Plantation Businesses

If one of your employees gets sick or injured on the job, worker’s compensation insurance could be a life saving policy for your business. Worker’s comp covers the cost of medical bills and lost wages after work-related injuries or illnesses, while also protecting the employer from lawsuits related to the accident. 

Employee Coverages for Plantation 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 expenses continue to climb, today’s workforce is increasingly interested in securing jobs that offer health insurance. Finding affordable employee coverages can feel like an impossible task, but our independent insurance agents can help. Our experienced agents can help you find low cost health insurance, life insurance, or disability benefits for your employees. Independent insurance agents can provide you with free rate quotes on multiple policies, giving you more options and the best chance to find a budget-friendly option for employee coverages. 

Cyber Crime Insurance for Plantation 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. Yet Florida businesses deal with cyber crime on a daily basis. Data breaches can be devastating for both a business and its customers so make sure you’re prepared by investing in cyber crime insurance. This will protect your company’s assets and give you an instant response plan if a hacker ever targets you. 

Plantation is a business-friendly community where you can pursue your professional goals with a wide support network. However, don’t neglect commercial insurance. Investing in business insurance today could save you thousands of dollars in the future if you ever encounter a major disaster. Whether you’re worried about liability risks, property damage, or the high cost of employee coverages, our independent insurance agents can help you find the best business insurance policy for your company. 

Contact an agent today to get a free rate quote on Plantation commercial insurance. 

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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