Business insurance Florida residents love

Business insurance Florida residents love

Why insure yourself?

Florida has it all: great weather, tourism hotspots, huge businesses, flashy homes. It’s the perfect place to launch a business, and given the current economic situation – with the world finally starting to find its feet after a horrendous few years – it seems as if now may be the perfect time to launch a  business, or consolidate one that has been functioning for a few years. Time to take your ideas to the next level – to take smart opportunities and to minimize risk. And how best to guarantee such a situation? By purchasing adequate business insurance from in Florida.

Every good business owner knows that to venture into the open world without a strong backup plan in the face of the risk is foolhardy at best, and downright self-destructive at worst. A simple and unavoidable storm, for instance, could uproot all of your produce, or swallow up all of your physical buildings – thereby halting any financial progress on your part. A spate of floods – much like those that hit Alabama and Florida in April 2014, ending the lives of 35 people – could not only cause catastrophic and crippling damage to your workforce and property, but in the best-case scenario, simply stop people from accessing the products you’re offering. And at that point, you start losing profits and making losses.

Who to choose

When you’re selecting the right insurance provider for your business, the first thing to do is to assess at what point on the business cycle your business fits. A smaller, start up type model requires differing levels of protection that a larger model – say, for instance, one without excessive employee protections and large bonus protections for upper management.

State farm has a great selection of insurance models geared specifically towards these situations, with different prescriptions for growing, maturing, and transferring businesses. They also pride themselves on protecting against employee liability lawsuits, making sure that once a business is large enough to expand towards its employee ceiling, it isn’t brought down by legal loopholes. In short, State Farm offer protections at every stage along the way.

What to focus on

Obviously there’s more to buying business insurance than simply getting a one-size fits all, generic license. According to, attention has to be paid to the stage that the business is in – as mentioned previously, with regards to the growth / maturity stage – and, just as importantly, attention has to be paid to the specific quirks of Florida.

Florida is prone to storms and flooding. The National Climatic Center for the US estimates that between the years 2000 and 2013 there was $64 billion of damage caused to businesses in the region as a result of cyclones. And with at least one tropical cyclone per year hitting Florida, it seems a safe bet to assume that at some point within a business’ lifespan, it will fall victim to the wrath of the clouds. Being inadequately protected at that point is simply asking for trouble. Protect against both flood and wind damage by having insurance that covers the costs incurred.