Insurance FAQs in Florida

Yes, insurance premiums for policies that protect your business are generally tax-deductible as ordinary and necessary business expenses. This includes general liability, property insurance, and workers’ compensation. Be sure to consult with a tax professional to maximize your deductions and comply with Florida tax regulations.

Getting a certificate of liability insurance with Florida Insure is simple. Once you’ve secured your policy, contact us to request your certificate. We’ll provide it promptly, giving you the proof of insurance you need for clients, contracts, or business requirements.

A certificate of liability insurance is typically included at no additional cost when you purchase a policy from Florida Insure. If additional certificates are required, fees may vary depending on the specific request, but Florida Insure strives to keep this process affordable and straightforward.

If you don’t have business insurance in Florida, you will be exposed to significant financial risks. You could face out-of-pocket costs for property damage, medical bills for injured customers, or legal fees from lawsuits. In some cases, a single claim could bankrupt your business. Additionally, some contracts or leases may require proof of insurance, so you could lose opportunities without coverage.

Yes, bundling insurance policies can reduce costs and make managing coverage easier. A Business Owner’s Policy (BOP) is a common option that combines general liability, commercial property insurance, and business interruption insurance. Bundling provides comprehensive protection at a lower cost compared to purchasing each policy separately.

Yes, small business insurance can cover lawsuits depending on the type of policy. General liability insurance covers claims for bodily injury or property damage, while professional liability insurance protects against negligence or errors in services. Coverage typically includes legal defense costs, settlements, and court judgments.

Most insurance providers in Florida offer fast turnaround times, with some policies starting the same day or within 24 to 48 hours. To speed up the process, prepare details about your business, such as its size, industry, and revenue, before applying. 

Yes, you can adjust your coverage to match your growing needs. For example, you can increase policy limits, add more coverage types, or include new locations as your business expands. Regularly reviewing your policy ensures you’re adequately protected.

Commercial property insurance typically covers hurricane wind damage, which is crucial in Florida. However, flood damage caused by hurricanes is usually excluded and requires a separate flood insurance policy. Review your policy to ensure you’re fully covered.

Small business insurance typically excludes intentional acts, criminal activities, normal wear and tear, and certain natural disasters like floods or earthquakes (unless you have specific coverage for them). Understanding these exclusions is essential to avoid unexpected gaps in coverage.

Yes, independent contractors benefit from insurance in Florida, especially liability coverage, to protect against claims of negligence or property damage. Many clients require contractors to have coverage before starting work. Additionally, policies like professional liability insurance and tools/equipment coverage ensure you’re protected in your operations.

Mold damage is generally excluded from standard policies in Florida unless it’s directly caused by a covered event, like a burst pipe. Specific mold endorsements may be added for better protection.

Yes, businesses in flood-prone areas of Florida should have a separate flood insurance policy, as standard commercial property insurance does not cover flooding.

No, standard homeowner’s insurance policies generally do not extend coverage to business activities or equipment. Home-based businesses in Florida should obtain a separate business insurance policy to cover liability, property, and operations.

Florida law requires businesses with four or more employees (including seasonal and part-time workers) to carry workers’ compensation insurance. In the construction industry, coverage is required even if the business has just one employee. Seasonal workers must be covered for any injuries sustained during their employment period.

Yes, spoilage coverage can be added to a commercial property policy or purchased separately. This type of insurance is particularly important for businesses like restaurants, grocery stores, and catering companies in Florida, where frequent power outages during storms can lead to significant losses of perishable goods. It typically covers the cost of spoiled inventory and any related cleanup expenses.