When a fire, accident or theft occurs at your business: Contact your insurance agent and company right away. Any burglaries or theft should also be reported to the police immediately. Read your insurance policy so that you know what your responsibilities are to your insurance company...Read More
Florida Business And Commercial Insurance Questions
Business income, or business interruption, insurance (BI) covers the profits a business would have earned, based on its own financial records, had the disaster not occurred. The policy covers additional operating expenses incurred as a result of the disaster such as the extra expense of operating...Read More
Most entrepreneurs are risk takers, willing to invest resources with an expectation and hope, but no guarantee, of reward. Risk" is another word for "peril" and refers to things that can go wrong. Crime, vandalism, fire, a personal injury lawsuit, a computer virus, equipment...Read More
When a fire, accident or theft occurs at your business:Contact your insurance agent and company right away. Any burglaries or theft should also be reported to the police immediately.Read your insurance policy so that you know what your responsibilities are to your insurance...Read More
I own retails stores in Palm Bay, Melbourne, Indian Harbour Beach, Viera and Rockledge. What type of insurance do I need?
Whether selling jewelry or garden plants, bicycles or lingerie, retail establishments typically have some features in common. For one, they usually have inventory that needs to be protected from physical perils, such as fire or theft. They also have a good deal of store traffic from the general...Read More
I am in the process of opening an electronics manufacturing business in Melbourne Florida what types of insurance do I need?
Generally, the most cost effective and efficient way to provide property and liability insurance for your small manufacturing operation is with a Businessowners Policy (BOP). This type of policy offers a package of different coverages for a single premium. Insurers have put together packages...Read More
Finding an independent agent that is familiar with this type of business is the key to getting the most competitive rates. Being specific on your daily business activities could be one of the most important things you do. For example, if you are strictly doing basic needs assistance for the...Read More
For many artisan contractors, the most cost effective and efficient way to obtain property and liability coverage is with a Businessowners Policy (BOP) especially tailored to their needs. Although marketed under a variety of names, these policies will typically have provisions similar to the...Read More
As a business owner, you will need some of the same insurance coverage for the cars, trucks, vans or other vehicles you use in your business as you do for vehicles used for personal travel. Your Business owners Policy (BOP) does not provide any coverage for vehicles, so you must have a separate...Read More
If your employees drive their own cars for business purposesto visit clients, for exampleyour business could wind up liable for property damage and bodily injuries resulting from a traffic accident for which an employee was at fault.Sometimes business owners dont notice they have this exposure...Read More
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...Read More
Your business may not possess all the following types of property, but you can use this list to help make sure that you have considered all the property categories and any insurance coverage that may be warranted: Building and other structures (owned or leased) Furniture, equipment and supplies...Read More
Business income insurance may reimburse you for ongoing expenses such as utility bills while your business is closed due to a property loss. This coverage also provides your loss of net income that you would have earned if a covered cause of property loss had not occurred. This coverage may also...Read More
An audit by your businesss insurance company will most likely require you to show proof that sub-contractors you used had their own coverage. Having the sub-contractors certificate of insurance will prevent you from being charged for their exposure.Read More
What if the products I manufacture are damaged in shipping? Does the shipping company reimburse me or do I put in a claim to my insurance company?
Shipping companies often carry insurance to cover their losses. However, the shipping companys insurance may be too low or you may have difficulty collecting on a claim after signing for the shipment. Therefore, Property in Transit insurance is available to cover your property being transported...Read More
Coverage on a claims made policy is triggered if both a claim is made against a company and reported during the same policy period. The incident must be reported by the insured to the insurer or the claim must first be made against the insured by the third party, during the period of insurance...Read More
A retroactive date sets the date after which claims may occur and be covered under a claims made policy. Losing your retroactive date creates a gap in coverage that could span several years, and would mean that the entire premium you paid for past policies is completely wasted. Avoid this at all...Read More
The law covers all accidental injuries and occupational diseases arising out of and in the course and scope of employment. This includes diseases or infections resulting from such injuries. The law also covers death resulting from such injuries within specified periods of time. Even if you do not...Read More
If you implement a drug-free workplace program in accordance with the criteria set forth in Florida Statutes you may be eligible for a 5% premium credit from your insurance carrier to your workers compensation insurance premium. In addition to the premium credit, having a Workers Compensation...Read More
Here are a few general guidelines on who is required to have workers compensation coverage: If you are in an industry, other than construction, and have four (4) or more employees, full-time or part-time, you are required to carry workers compensation coverage (an exempted corporate officer does...Read More
How you use your truck would determine if it should be insured as a commercial vehicle. If your vehicle is used for you or your families normal daily use, meaning you are not conducting business or use it during the course of your business, most likely you will be able to choose a personal auto...Read More
I have a service business with locations in Melbourne, Palm Bay, Orlando and Daytona; can I insure vehicles at all locations under one commercial vehicle policy?
Generally speaking you can insure all of the vehicles under one policy. The rates for each vehicle would be determined individually by the county in which it is garaged.Read More
I am opening a new business in Palm Bay. I will have a vehicle for that business that only I will drive; would I need a commercial auto policy?
In general, if a vehicle is used in tasks related to the operators business operation or profession other than driving to or from work (your commute), a commercial auto policy would be necessary for that vehicle.Tips to consider: If you are using your vehicle to transport goods or people for a...Read More
Every business has some property. And, when you think about it, your business is your property. Just like your home and car, your business needs to be protected from loss, damage and liability. In addition, your business is your source of income, so you need protection from the potential loss of...Read More
I own a business in Melbourne and we are expanding to several locations, including Palm Bay, Viera, and Merritt Island. With multiple locations I need to do all I can to lower my premiums. What can I do?
Taking steps to lower our risk can help safeguard your business but may also make you eligible for lower insurance rates. Insurance premiums are based on the risks involved. The insurance company evaluates the situation to determine the risk or potential for losses and bases it rates on the...Read More
Many small businesses are now insured under package policies that cover the major property and liability exposures as well as loss of income. A common package policy used by many small businesses is called the Business Owners Policy (BOP).Generally, these package policies provide the small...Read More
Business interruption insurance can be as vital to your survival as a business as fire insurance. Most people would never consider opening a business without buying insurance to cover damage due to fire and hurricanes. But too many small business owners fail to think about how they would manage...Read More
Workers compensation insurance provides for the well being of your employees and promotes a positive work environment. Be aware that some states have passed laws that make Workers Compensation mandatory once a business expands to three or more employees on payroll. Workers Compensation insurance...Read More
Businesses can really help protect themselves by purchasing a general liablility policy.oBodily Injury Liability Coverage: Helps protect you in case injuries occur to other people resulting from your business operationoProperty Damage Liability Coverage: Protection in case damage occurs to the...Read More
As a small business owner I am trying to watch every penny. What are some steps I can take in my business to help lower my insurance costs?
All businesses big or small can take certain steps in risk management. Taking precautions and having procedures in place before an accident can help keep your liability and insurance rates down!A few steps to consider are: Make sure all employees are properly trained Obtain and Implement safety...Read More
Commercial Insurance is designed to help protect many of the risks your business can face, including:oGeneral LiabilityoDamage or destruction to your business vehiclesoDamage to your building, office equipment, and inventoryoLoss of income in case you have to close-up shop temporarily because of...Read More
Commercial auto insurance has additional benefits.oLiability Coverage: In case you are sued as a result of an auto accidentoComprehensive Coverage: Helps cover physical damage to your vehicle due to fire, theft, and glass breakageoCollision Coverage: Helps cover physical damage to your vehicle...Read More
I have a landscaping/lawn maintenance business in Melbourne Florida what types of insurance do I really need?
First and foremost find a professional insurance agent that specializes in insuring this type of business. Second get an explanation of the following coverages: general liability, commercial auto, workers compensation, equipment floater and commercial property. Commercial landscapers may also be...Read More