Business Insurance in Florida

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Business Insurance in Florida

In the Sunshine State, there are over 2.8 million employees employed by 3.6 million small businesses. Whether you're a small business owner wanting to open your business in Florida or an entrepreneur looking to start your company here, having the proper insurance will play a critical role.

Small business insurance in Florida offers you protection from financial losses due to different risks, such as:

  • Third-party Bodily injury
  • Third-Party Property damage
  • Employee Injuries
  • Business property damage

Business liability insurance isn't mandatory by law in Florida, however, many municipalities require that a business maintain general liability to operate within its jurisdiction. Florida employers must purchase workers’ compensation insurance depending on the industry and number of employees to ensure that their workers are protected if injured on the job.

For instance, the coverage requirements for construction companies with only one employee are different from those non-construction businesses with one employee.

Florida enjoys a reputation as a business-friendly state, with no state income tax and a simple set of regulations for businesses. Just because there is no state requirement for businesses to carry general liability, your local municipality may require it and certainly if you plan on leasing commercial space, your landlord will require.

Types of Commercial Business Insurance Offered in Florida

Small businesses in Florida most commonly buy these types of insurance.

General liability insurance

General liability insurance protects your business against typical incidents, such as customer injuries, property damage, and advertising injuries. It enables you to qualify for licenses and leases and may assist you in getting work since clients may request evidence of this coverage.

Workers’ compensation insurance

Workers’ compensation insurance covers medical costs and lost wages for work-related injuries. For this reason, workers' compensation policy is essential for all business owners with employees in most states. Workers’ compensation laws vary by state, but small companies usually should have a policy in place as soon as they hire their first employee if they don’t want to pay out of pocket for an employee’s injury and wage loss.  

Commercial auto insurance

Commercial auto insurance covers those sums the vehicle owner is liable for resulting from an at-fault auto accident. When someone is given a ticket for an accident, they are usually at fault and liable to pay the damages incurred by the other vehicle driver. These damages include cost of medical care for injuries, economic loss from missing work, and cost to repair the damage to their vehicle. If your company owns an automobile used for business purposes, your business will require commercial auto insurance. Virtually all states mandate some level of commercial auto liability coverage for any vehicle registered for road use.

Business owner’s policy

A business owner's policy (BOP) package combines commercial general liability insurance with commercial property insurance. The bundle is generally less expensive than when the policies are purchased separately. You need a BOP or a commercial package policy (CPP) if you own or rent your business location. In addition, client contracts typically require evidence of general liability coverage.

Professional liability insurance

Professional liability insurance, also called errors and omissions insurance, protects businesses from the costs for client litigation arising from negligence in performing your professional services. Professional liability insurance is for companies relying on specialized expertise for income. Even the most knowledgeable and seasoned professional may make a mistake or miss doing a step. Unfortunately, clients may not be forgiving if your error cost them a lot of money. Professional liability insurance can protect you from civil lawsuits caused by clients that suffered a financial loss due to your company’s services.

Florida Small Business Insurance Requirements

Although you may not be legally required to have small business insurance in Florida, it may offer protection from many risks you will encounter in your operations.

Florida has many thriving small businesses, and the wide variety of industries includes everything from selling vitamins to creating a documentary television show.

To put that in perspective, small businesses account for nine out of every ten firms within the state and employ 41.1 percent of their available personnel, a testament to the importance of small businesses in Florida's thriving economy. Nonetheless, despite the growth of business in Florida, there are exposures to business liability that you must be conscious of to protect your company.

Florida takes pride in being business-friendly, with no state personal income tax and laws favoring standard business practices. For instance, Commercial Liability Insurance isn't mandatory for small business owners at the state level as it is in other jurisdictions. Even though the business laws in Florida are favorable, the state is known to be incredibly litigious, and lawsuits in a state like Florida often award large sums of money to the plaintiffs. As a result, many small firms in Florida purchase multiple types of insurance, even though the law does not mandate it.

Several factors help establish the type of business insurance your business requires, including:

  • The industry you’re in
  • Number of employees
  • Risk exposure. For example, construction companies may have more exposures to claims than retail stores.

Small businesses in Florida tend to buy general liability, commercial property insurance, workers’ compensation, cyber insurance, professional liability (if applicable), and commercial auto insurance.

Cost of Business Insurance in Florida

Small business insurance premiums vary depending on what risks a business faces in Florida. Since many companies are dissimilar and face unique threats, insurance rates vary accordingly. An insurance provider considers a variety of factors when determining premiums. Some of the elements are:

  • Location
  • Type of business
  • Number of employees
  • Revenue
  • Claims history

A company’s industry can greatly impact costs. For example, your costs for general liability coverage may be different than a neighboring business if it's in another industry. The easiest way to determine how much insurance will cost you is by requesting an estimate.

Get a Quote for Florida Business Insurance

Visit us at to request a quote for your business.

Why Choose Insurance Advisor for Commercial Insurance in Florida?

We can provide quotes with many different insurance carriers and you can request quotes from the comfort of your home, office or anywhere by visiting us at Once you create an account, your business information is stored and you can come back at any time to request other lines of insurance, get a certificate of insurance, and update your information.

Frequently Asked Questions (FAQ) about Florida Insurance

1. How much is business insurance in Florida?

Commercial insurance can be affordable for small business owners. Typically, median costs in Florida are:

General liability: $45+ per month

Workers' comp: $46+per month

Professional liability/E&O: $100+per month

Costs of insurance for business are determined mainly by the following factors:

  • Your industry and risks
  • Annual revenue
  • Annual payroll
  • Business assets insured
  • Types of insurance purchased
  • Policy limits and deductibles

2. Where can I get inexpensive business insurance in Jacksonville, Florida?

If you are new in business, you may want to check with your agent who insures your home or car first to see if they can help you. If that doesn’t work out, you can visit us at to request a quote.

3. What types of business insurance are required for businesses in Florida?

Small business owners in Florida most frequently obtain these types of insurance.

  • General Liability Insurance
  • Workers Compensation Insurance
  • Commercial Auto Insurance
  • Business Property Insurance
  • Professional Liability Insurance
  • Cyber Insurance
  • Commercial Flood Insurance

4. Which insurance companies are best in Florida?

The best insurance company for your business is best determined by a licensed commercial insurance agent. Different insurance companies specialize in different business industries, your independent insurance agent will know best, visit us at to request a quote.

5. How to find out if a business has liability insurance in Florida?

Contact your vendor to request a copy of their liability insurance certificate, which will provide the policy number with information and documentation related to the insurance they hold with that agent. Companies may have a different agent on each policy. Ask to see a vendor’s general liability and workers compensation at minimum on a certificate of insurance before hiring them. Call the insurance agent or insurance company listed on the certificate for confirmation of the certificate validity.

6. What is the cost of essential business liability insurance in Florida?

General liability insurance's cost varies based on your company’s operations as explained above. Giving estimates when your business will pay more or less is not that helpful, is it? Please visit us at to request a quote. General liability insurance policies with $1 million in coverage is pretty standard for small businesses. This includes:

  • $1 million per-occurrence limit. While the policy is active, the insurer will pay up to $1 million to cover any single claim.
  • $2 million aggregate limit. During the lifetime of a policy (usually one year), the insurer will pay up to $1 million for each claim and $2 million total in any policy year to cover claims.

You'll pay more if you require business automobile, workers’ compensation or any other coverage that pays for a broad range of occurrences. If you opt for a policy with higher limits, expect to pay more than you would for lower limits.

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