Business Insurance

Business insurance is not required by law in the state of Florida for most corporations; however, having insurance is highly recommended.

It is important to know that business insurance is not one-size-fits-all. Insurance companies offer a wide variety of insurance packages targeted at your industries needs. A Dentist’s office would not require the same type of insurance as a website designer. And a construction company certainly needs coverage in areas that a bakery may not.

In fact, there are only two types of companies that are required by Florida law to carry business insurance. One of these is the construction industry, and the other is the agricultural industry.

If you elect to purchase business insurance, it is important that you select a trusted insurance agency that offers a clear package outlining the needs of your company.

If you are the sole member and employee of your company, perhaps you do not need insurance. But let us consider some of the reasons why one should purchase business insurance.

Once again, your industry will define the reasons you would be interested in business insurance. Perhaps your business insurance needs to include health insurance, because your employees work in high-risk conditions. Maybe your company needs property and casualty insurance, in the case of theft or destruction of expensive equipment. Even your work-vehicle auto-insurance can fall within the umbrella of business insurance coverages. Protect your investment by selecting insurance that will guard your specific organization from the potential disasters of your industry.

Even if you view your startup as “not worth suing” because it is clear you do not have assets worth “suing for,” it is imperative to protect both your owners, and your business in the case of accident or emergency.

Acquiring business insurance can be confusing because of the vast wealth of variety available to an entrepreneur; however, customizable packages allow you to select exactly what you need for the industry you work within.

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