Small business insurance Florida

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Small business owners and self-employed professionals drive Florida’s economy. In addition to being the majority of businesses in the state, small businesses employ 3.6 million Floridians across many professions.1

One thing that almost all these small companies have in common is carrying Florida business insurance. That’s because it offers crucial protection for business owners and their employees if things don’t go as planned, such as when:

  • A landscaping company in Ft. Lauderdale accidentally injures a client at a jobsite. Florida General liability insurance can help.
  • There’s food spoilage at a Miami restaurant after a prolonged power outage.
  • An employee of a house painting business in Cocoa Beach falls from a ladder and requires medical care.
  • An employee backs your dry cleaning company’s van into another vehicle after a delivery in Tallahassee.

NEXT is 100% dedicated to small businesses and insures more than 1,300 types of small businesses and self-employed workers. We make it easy for you to get coverage at the right price online in less than 10 minutes.

Continue reading to learn about the important types of business insurance in Florida. Or get a free instant quote to see customized coverage options for your business.

Business insurance requirements in Florida

Curious about what types of coverage are required in the state of Florida? It’s different for each small business, depending on several factors, which include your:

  • Profession
  • Number of employees
  • Exposure to risk (For example, a construction company in Jacksonville could be more likely to have an injury or property damage accident than an accountant.)

Small businesses in Florida often purchase general liability, professional liability (also known as errors and omissions), commercial property and commercial auto insurance.

Many businesses also have workers’ compensation coverage to help cover medical expenses and lost wages after workplace accidents. It’s required by Florida law for many companies that have employees.2

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Explore the different types of Florida business insurance coverage

Every company in Florida has different small business insurance needs. That’s why insurance companies let you bundle different types of coverage, also known as policies, into a customized insurance package. Your package might include the following insurance products.
General Liability
General Liability insurance Florida

General liability insurance, also known as business liability coverage, is a good idea for many companies in Florida. That’s because it can help pay expenses if your business is held responsible for an injury or property damage involving anyone other than an employee.

Many commercial landlords in Florida will ask that you carry general liability coverage before they offer you a lease. It’s also common for clients to require proof of insurance for this kind of coverage before they’ll sign a contract with your business.

Here’s an example of general liability insurance in action:

An Orlando-based janitorial business uses the wrong cleaning solution at a client’s office and damages the carpet throughout the building. General liability insurance would help pay to replace the carpet, which could help the company avoid a lawsuit.

Workers Compensation
Workers’ Compensation insurance

Florida law requires most businesses with employees to have workers’ compensation insurance.2 This type of coverage protects your business and your employees when workers get hurt on the job.

Workers’ comp can help pay for expenses related to workplace injuries, including medical costs and lost wages while employees recover.

For instance, an employee of a retail store in Orlando falls when stocking shelves and suffers a bodily injury, like a broken collarbone or concussion, that requires a hospital visit and time to recover. Workers’ compensation insurance could help pay for their medical needs and cover missed wages while they’re getting better.

Commercial Auto
Commercial Auto insurance

Small businesses in Florida with company-owned vehicles need commercial auto insurance. It can help protect your business when accidents happen while driving for business-related purposes.

Personal auto insurance doesn’t cover accidents or damages that happen if you’re on the road for business purposes, even if you’re driving your personal vehicle.

For example, if a real estate agent drives to Miami to host an open house and has a fender bender, commercial auto insurance can help pay for damages to the agent’s car and the other driver’s vehicle. If the accident is serious, commercial auto insurance can also help cover medical bills and lawsuit costs.

Commercial Property
Commercial property insurance

Florida commercial property coverage can help protect the essential items you need to run your business. It can help pay to repair or replace your business property, like equipment and inventory, in the case of covered events like fire, water or wind damage.

Here’s an example of how commercial property converge works:

An automotive repair shop in Gulfstream experiences an electrical fire that causes smoke and heat damage in the office, ruining furniture and equipment. Commercial property insurance could help pay to clean up the damage and cover replacing damaged items.

Keep in mind that commercial property insurance can have exclusions, such as for flooding or hurricane damage. Be sure to read your policy documents carefully so you know exactly what your coverage includes.

Errors & Omissions
Professional Liability (E&O) insurance

Even if you’re careful with your business practices, a client could accuse you of making a work mistake or missing a deadline that caused them financial losses.

That’s where professional liability insurance can come into play. Also known as errors and omissions insurance (E&O insurance), it is purchased by small businesses across many different industries, especially professional services.

For example, a client accuses a Pensacola accounting firm of making a tax error that caused them significant monetary losses, and the customer files a lawsuit to recoup the damages. E&O coverage could help the accounting firm cover their attorney bills, even if the court exonerates them.

How much does Business insurance in Florida cost?

How much does Business insurance in Florida cost?

Florida insurance costs vary by industry and size. If you run a business that’s at greater risk of injuries or property damage, such as a construction company, you’ll pay more than a lower-risk business like a graphic design firm. And, as your number of employees or business vehicles increases, you’ll pay more for your business insurance policy.

The best way to know exactly what you’ll pay for business insurance is to get a free quote and explore your coverage options.

You can also use our insurance calculators for a general estimate of insurance costs in Florida:

How NEXT can help you with business insurance in Florida

How NEXT can help you with business insurance in Florida

We offer a fast and easy way for small business owners to get a business insurance quote online, purchase coverage and instantly share a certificate of insurance. The entire process usually takes less than 10 minutes.

You can also chat with our U.S.–based licensed insurance agents if you need help or have questions.

Helpful information for Florida small businesses

See what our customers have to say

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I was looking around trying to compare insurance and I am so lucky I found NEXT. I was able to compare levels of coverage, and all the options, without pressure from a salesperson or time limits. I was able to check out prices and it was more coverage for less than the “traditional” company I looked at.
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I needed liability insurance for my new small business brick & mortar location. I got the run around from another company, but NEXT provided a competitive insurance quote in a timely manner. I now have the insurance that I need and it was stress-free!
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* To the extent permitted by law, applicants are individually underwritten, not all applicants may qualify. Individual rates and savings vary and are subject to change. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only.
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Issuance of coverage is subject to underwriting. Not available in all states. Please see the policy for full terms, conditions and exclusions. Coverage examples are for illustrative purposes only. Your policy documents govern, terms and exclusions apply. Coverage is dependent on actual facts and circumstances giving rise to a claim. Next Insurance, Inc. and/or its affiliates is an insurance agency licensed to sell certain insurance products and may receive compensation from insurance companies for such sales. Policy obligations are the sole responsibility of the issuing insurance company. Refer to Legal Notices section for additional information.

Any starting prices or premiums represented before an actual customer quote are not guaranteed and are representations of existing premiums of active policies as of December 6, 2023. To the extent permitted by law, applicants are individually underwritten, not all applicants may qualify. Individual rates and savings vary and are subject to change. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only.