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Recommended insurance policies for small businesses in Florida
These insurance products defend Florida small business owners against common lawsuits and other top risks.
General liability insurance
A commercial general liability policy covers common third-party risks for small businesses in Florida, including customer property damage and injuries. Commercial leases often require this coverage.
- Customer bodily injuries
- Damaged customer property
- Slander and other advertising injuries
Errors and omissions insurance
This policy is also called E&O insurance or professional liability insurance. It protects professionals against lawsuits over mistakes, missed deadlines, and oversights.
- Work errors and oversights
- Professional negligence lawsuits
- Late or incomplete work
Professional liability insurance
This type of coverage protects Florida businesses against lawsuits related to the quality of their professional services or advice. It's also referred to as errors and omissions insurance.
- Mistakes and oversights
- Breach of contract
- Missed deadlines
Business owner's policy
A BOP bundles commercial property insurance and general liability coverage at a discount. It's often the most cost-effective type of insurance for a Florida business.
- Customer injuries
- Accidental damage to client property
- Damaged business property
Workers' comp insurance
Florida law requires workers’ comp for businesses that have four or more employees. Sole proprietors and independent contractors also buy this coverage, as personal health insurance won’t cover work injuries.
- Employee medical expenses
- Disability benefits
- Lawsuits from employee injuries
Cyber insurance
This policy protects Florida small businesses against financial losses from data breaches and cyberattacks. It’s also called cyber liability insurance.
- Data breach investigations
- Client notification expenses
- Fraud monitoring services
Commercial auto insurance
This policy is required for vehicles owned by Florida small businesses. It helps cover financial losses from an accident, along with other types of damage.
- Injuries caused by your vehicle
- Property damage caused by your vehicle
- Vehicle theft and vandalism
Fidelity bonds
A fidelity bond reimburses your clients in the event of employee theft. Clients, especially those in financial services, may ask you to secure a bond before they will work with your business.
- Embezzlement
- Forged signatures
- Theft of cash or property
Commercial umbrella insurance
An umbrella policy boosts the coverage of your general liability, commercial auto, and employer's liability insurance. It can help your small business comply with requests for higher liability limits.
- Personal injury lawsuits
- Auto accident lawsuits
- Workplace injury lawsuits
Looking for different coverage? Check out our other policies.
What are Florida’s small business insurance requirements?
Workers' compensation insurance
The state of Florida requires businesses with four or more employees, full-time or part-time, to carry workers’ compensation coverage. Businesses in the construction industry must provide coverage for every employee.
Workers' comp covers medical bills for work-related injuries and illnesses. It also provides disability benefits for injured Florida workers.
Most policies include employer's liability insurance, which helps pay for legal fees related to employee injuries.
Commercial auto insurance
Vehicles owned by limited liability companies (LLCs), startups, and other businesses in Florida must be covered by commercial auto insurance. This type of insurance covers financial losses from auto accidents involving your business vehicle.
Florida's requirements for auto liability insurance coverage are:
- Property damage liability per accident: $10,000
- Personal injury protection (PIP): $10,000
Personal, rented, and leased vehicles driven for work purposes should be covered by hired and non-owned auto insurance (HNOA), as personal auto policies usually exclude business use. It can be added to general liability insurance or a business owner's policy.
How much does small business insurance cost in Florida?
Commercial insurance can be affordable for small business owners with low risks. Based on policy data from TechInsurance customers in Florida, the average premiums are:
General liability: $55 per month
Workers' compensation: $65 per month
Professional liability / E&O: $84 per month
Factors that influence the cost of business insurance include:
- Type of business
- Business operations
- Number of employees
- Location, such as Miami or Orlando
- Policy limits and other coverage options
- Claims history
Why Florida business owners choose TechInsurance
Gain financial protection
The costs from a lawsuit or data breach can overwhelm a small business. Protect against common risks with the right business insurance coverage.
Find insurance policies for your small business in Florida
Whether you need coverage to sign a contract, rent an office, or get a license, TechInsurance can help you find the right business insurance policies. Our insurance agents are licensed in Florida and can help you find affordable policies from top-rated insurance companies.
Fill out our easy application to get business insurance quotes today. You can chat with an agent about your insurance needs and get answers to any questions. When you're ready, pay for a policy online and get a certificate of insurance (COI) immediately to show clients that your business is protected.
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