Florida Business Insurance

Choose The Hartford for All Your Florida Business Insurance Needs

The Sunshine State has over 2.8 million small businesses, making up nearly all of the companies in Florida.¹ Whether you’re a small business owner or looking to open your company in Florida, a key part to running a successful business is making sure you have the right business insurance.

Small business insurance helps protect your company from financial losses due to different risks. This includes:

Bodily injury
Property damage
Lawsuits

Types of Florida Business Insurance Offered

Florida Business Owner’s Policy

A Business Owner’s Policy (BOP) combines three essential types of coverage to help protect your business from claims that can come up during normal operation, like bodily or personal injury and property damage.

Business Income Insurance, which helps replace your lost income if you can’t operate because of covered property damage.
Commercial Property Insurance covers the owned or rented building, tools and equipment you use to operate.
General Liability Insurance, also known as commercial general liability insurance or business liability insurance, helps protect your business from claims that it caused bodily injury or property damage to someone else.

With business income, commercial property and general liability insurance, Florida businesses have a good foundation for protection.

Florida Workers’ Compensation Insurance

The state of Florida requires employers with four or more employees to carry workers’ compensation insurance.² This law applies to part- and full-time employees. For employers in the construction industry with at least one employee, they must have workers’ compensation insurance.

Workers’ compensation gives benefits to employees if they get hurt or sick from their job. This coverage can help if an employee:

Hurts their head after a box they’re putting on a shelf falls on them
Has to go to the emergency room after getting into a car accident while driving back to the office from a client meeting
Slips on spilled water in the office and breaks her arm, requiring emergency medical treatment and weeks of physical therapy

Florida Data Breach Insurance

Data breach insurance helps your small business respond to a breach if personally identifiable information (PII) gets lost or stolen. Some insurance companies may call this coverage cyber liability insurance.

Data breaches can be costly for your business. This coverage can help pay for:

Identify protection solutions
Legal fees
Liability
Public relations

Your business may benefit from data breach insurance if your employees save data on a network or your business keeps patient and customer records in a database that hackers can target.

Florida Commercial Umbrella Insurance

Commercial umbrella insurance gives businesses an added layer. It helps extends the limits on certain policies to protect against potentially catastrophic costs of claims.

With Florida commercial umbrella insurance, you can protect your assets if:

A customer trips on uneven flooring and hurts herself. The costs of her medical injuries exceed the cost of your general liability policy limit.

Your employee accidentally backs the company truck up into a client’s house. The repair costs to fix the structural damage exceeds your primary business liability insurance limit.

Professional Liability Insurance in Florida

Professional liability insurance helps protect your business from claims that it made a mistake in the professional services given. Florida professional liability insurance can be helpful because even though you aim to run your business perfectly, mistakes can happen. This insurance can help pay your:

Attorney fees
Legal costs
Judgments
Settlements

Many types of businesses carry professional liability insurance, also known as errors and omissions insurance (E&O insurance). Some types of businesses that can benefit from professional liability insurance include:

What Business Insurance Is Required in Florida?

Employers in Florida must provide workers’ compensation insurance for their employees. Specific employer coverage requirements are based on the:

Type of industry
Number of employees
Entity organization

For more information about Florida minimum business insurance requirements, visit the Florida Department of Financial Services website.

How Much Does Small Business Insurance Cost in Florida?

Small business insurance costs vary in Florida. That’s because every business is unique and faces different risks. An insurance company looks at different factors when determining costs. This can include:

Location
Type of business
Number of employees
Revenue
Claims history

Costs can vary depending on the business and type of coverage. For example, your cost for general liability coverage will likely be different than a neighboring business – especially if it’s in a different industry and the revenue amounts aren’t the same. The best way to find out how much insurance costs your business is to get a quote.

Get a Quote for Florida Business Insurance

We know every small business has unique needs. Our specialists are here to help and work with you to understand your insurance needs and get you a business insurance quote that protects your Florida business.

Additional Florida Business Insurance Links

Last Updated: September 8, 2023

¹ U.S. Small Business Administration, “2021 Small Business Profile: Florida”

² Florida Legislature, “The 2021 Florida Statutes”

Additional disclosures below.