Located less than an hour north of Palm Beach, Port St. Lucie is a growing urban area featuring lush rivers, top-rated golf courses, and beautiful beaches. Small businesses find endless opportunities in Port St. Lucie, where tourists frequently visit to enjoy the sunny summers and warm winters. 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. Our Independent Insurance Agents can help you minimize your risk by helping you find affordable Port St. Lucie business insurance. With years of experience connecting local businesses with commercial insurance solutions, our agents will help you build a customized business insurance plan to safeguard your business from Florida’s most worrisome risks.
Liability risks are a growing problem for small businesses across the nation. 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. By investing in general liability insurance for your Port St. Lucie business, you’ll gain peace of mind that you’re always protected even if your company faces a liability lawsuit in the future.
Product Liability: According to a national study, 71% of product liability awards by the court amount to $1 million or more. Product liability lawsuits put a serious financial strain on small businesses, forcing many to shut down permanently. Our agents can help you find a product liability insurance policy that will cover the cost of legal fees and related settlements if you ever encounter a lawsuit.
E&O/Professional Liability: Public service professionals face a high risk for liability lawsuits related to errors, omissions, or simple contract breaches. E&O insurance is designed to protect consultants by offering complete protection professional liability lawsuits. If you get sued, you can file a claim and your E&O liability policy will provide the financial resources you need to fight the issue in court.
Business Interruption Insurance for Port St. Lucie Businesses
- Recent Gross Domestic Product: 2.2%
- Recent Gross State Product: 2.2%
Florida’s coastal communities face an ongoing threat for severe weather. In Port St. Lucie, hurricanes are a major concern each year. If a storm causes serious damage to your business property, you’ll have to shut down until repairs are complete. Business interruption insurance can help a small business survive a natural disaster by paying for lost revenue during the time when you have to close due to unexpected interruptions.
Property Insurance for Port St. Lucie 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
Port St. Lucie is in a high-risk hurricane zone, with 72 hurricanes impacting the community since 1930. Tornadoes are another major concern for local businesses with an average of two per year causing damage and destruction to commercial areas. The best way to protect your business is with commercial property insurance. If your commercial space is damaged by high winds, flooding, lightning, or other natural disasters, you can file a claim and receive the money you need to make repairs.
Worker's Compensation for Port St. Lucie Businesses
Worker’s compensation insurance is required in most states for any business that hires employees. Worker’s comp protects your company from lawsuits in case an employee gets hurt on the job, while also paying for related medical expenses and lost wages. By investing in worker’s compensation insurance, you’ll have peace of mind that your company is protected from lawsuits while also providing the best possible care and benefits for your staff.
Employee Coverages for Port St. Lucie 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
Offering excellent health insurance benefits is a smart way to attract dedicated and hard-working employees, but these coverages can get quite expensive. If you’re looking for affordable healthcare, life insurance, or disability benefits for your staff, independent insurance agents can help. Our caring agents will take time to help you compare rates, providing quotes from multiple policies.
Cyber Crime Insurance for Port St. Lucie Businesses
- 37,059 Identity Theft Complaints in Florida in recent years
- Ranked #1 Highest for Identity Theft Complaints in the US
Florida is the leading state for identity theft complaints in the nation. Yet reports show that only 22% of small businesses have a response plan in place to deal with data breaches and cyber attacks. The best way to safeguard your company against cyber threats is with cyber crime insurance. This policy will protect your financial assets and give you an instant response plan if you ever deal with a malicious hacker.
Our independent insurance agents understand that each business is unique and there is no one-size-fits-all policy for commercial insurance. Our caring agents will provide complete support as you navigate your coverage options and design a customized business insurance plan to protect your Port St. Lucie business. Finding affordable commercial insurance solutions is easier than ever before with a reliable agent on your side.
Contact an agent today to get a free personalized rate quote on Port St. Lucie commercial insurance.