Florida Business Insurance
Customized protection for your Florida business
Florida business owners should consider several types of commercial insurance for financial and legal reasons. A variety of incidents can threaten your business including customer slips and falls, natural disasters and employee injuries.
You’re required to have workers’ compensation if you employ one or more of Florida’s 3.4 million small business employees. You should also consider other types of coverage for your daily operations, business property and electronic data.
The Progressive Advantage® Business Program can help you personalize a Florida business insurance policy with the coverage you need.
Types of FL business insurance
This is the most common business insurance coverage and nearly all Florida businesses should have it. It protects against third-party bodily injury and property damage, as well as personal and advertising injury.
This coverage protects against damage to your vehicles and trailers, as well as injuries or property damage related to their use. You’ll need this coverage if you use your vehicle to transport supplies or travel between job sites.
This is required in Florida if your business has employees. Workers’ compensation pays for medical costs and lost wages of employees who become injured or ill on the job.
Business Owners Policy (BOP)
A BOP combines property and liability coverage into one easy-to-manage policy. It’s popular among owners of small to medium-sized businesses who rent or own the building in which they do business.
Florida businesses that provide professional services should consider this coverage. It protects businesses from claims of professional negligence, both actual or alleged, and helps pay for defense costs. It’s sometimes referred to as errors & omissions insurance (E&O).
Cyber insurance protects businesses from electronic threats such as cyber attacks and data breaches. It helps cover investigative services, data recovery, as well as legal fees and settlement costs. Businesses that store or manage customer data should consider this coverage.
How much does Florida business insurance cost?
The cost of business insurance in Florida depends on a variety of factors including a business’s size, location and coverage needs. For example, a business located on the coast near Miami will have a different rate than a business located inland near Gainesville.
The most influential factor, however, is the type of work that you do. Professions are typically rated on the exposures that are unique to their industry. Businesses that are considered highrisk typically pay more for coverage.
Florida business insurance requirements
Business insurance isn’t required by Florida state law except for workers’ compensation. Employers must carry this coverage to protect their employees should they become injured or ill while at work.
Coverage requirements depend on your industry, number of employees and other factors. For example, coverage must be provided for construction businesses with one or more employees, and for non-construction businesses with four or more employees.
While you’re not legally required to carry other types of coverage in Florida, you probably should. An unexpected incident can result in a claim that’s difficult to afford without it.
Resources for Florida small business owners:
- Commercial Property Insurance Overview (Florida Department of Financial Services, Division of Consumer Services)
- Workers’ compensation requirements in Florida (Florida Department of Financial Services, Division of Workers’ Compensation)
- Workers’ comp FAQs (Florida Department of Financial Services, Division of Workers’ Compensation)
- 2019 Florida Small Business Profile (US Small Business Administration)
Florida professions we insure
We help small business owners from a wide variety of industries, including these common professions:
- Food trucks
- Cleaning services
- Dry cleaners
- Personal trainers
Browse more examples of professions we insure.
Commercial Experts –As the #1 Commercial Auto Insurer in America*, you can trust us to help you with other business insurance needs. Our team of specialists are specially trained to build and service your Florida policy.
Options – We can help you secure coverage at any stage of your business’s development with the flexibility to adjust your policy as your business changes. Our agents will work with you to make sure you’re getting protection that meets both your needs and budget.
Business insurance for all cities in Florida
We offer coverage in all Florida cities, including, but not limited to:
- St. Petersburg
- Fort Lauderdale
- Port St. Lucie
- Cape Coral
*No. 1 commercial auto insurer from SNL Financial’s 2019 national written premium data.