I am just getting my business started in Melbourne, Florida. Do I need insurance right away?
Yes, because the chance that you could suffer a loss begins with the first day of business. You cannot get help after the fact. If you suffer a loss and have no insurance or have improper or insufficient coverage, there is very little, if anything, your agent can do to help you. You must be prepared for the risks that are inherent in any business and the losses, sometimes catastrophic, that they can cause.
In addition, many states and local jurisdictions require that business be insured to begin operating especially workers compensation insurance. And if you rent space for your business, your landlord probably requires that you be adequately insured as well.
NOTE: The answers to coverage questions are primarily based on ISO forms generally used in Florida by most companies. However, please keep in mind that all companies forms are NOT necessarily the same. Some companies may provide broader coverage and some may be more restrictive. IN ALL CASES, THE CONSUMER MUST REFER TO HIS OR HER OWN POLICY FOR SPECIFIC COVERAGE INFORMATION.