Commercial Insurance

Owning a business in Florida is the result of hard work, commitment, and dedication which is why it is so important to protect your investment by having adequate commercial insurance. Similar to insurance on your personal vehicle or home, commercial insurance protects your business from a number of situations that could leave you financially responsible for damages that bankrupt the company and yourself.

When it comes to owning a business in Florida, there are two types of insurance that are likely to be required: workers’ compensation insurance and commercial auto insurance. The first, workers’ compensation insurance, is required for any business with four or more employees - regardless of whether they are full-time or part-time - to have workers’ compensation which pays for the medical bills associated with any injuries or illnesses that occur while working. If you are in the construction sector, then having just one employee mandates the requirement to have workers’ compensation insurance. Second, any business-owned vehicles must be protected by a commercial auto insurance policy with at least Florida state minimums for liability coverage. Although it is not required, if your employees use their personal vehicles for work tasks such as deliveries then having hired and non-owned insurance coverage is highly recommended as most personal auto policies will not cover business use.

In addition to workers’ comp and commercial auto insurance policies, Florida business owners may want to consider additional coverage options including cyber liability insurance which helps cover damages and legal costs associated with data breaches and cyber incidents or professional liability insurance for negligence and clerical errors. Working with a reputable insurance company like A+ Insurance of Sarasota Inc offers business owners the opportunity to discuss their coverage needs in depth and receive personalized insurance recommendations. Give us a call today or stop by to learn more.