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    Florida Business Owner's Policy

    Every smart business owner must ensure their assets are properly protected, whether a small local Florida business or a larger scale operation. Insurance coverage is required for all business owners, but numerous options are available, and selecting the right Florida business owner's policy can be difficult.

    Many of Florida's 2.5 million small businesses require business owners' policy to protect themselves from liabilities arising from various incidents involving their work vehicles. A Business Owners Policy (BOP) is popular among business owners because it provides more coverage at a lower cost than other options. 

    This type of Florida business insurance combines two essential types of business insurance: commercial property and general liability. Read on to know more about the cost, coverage, and requirements of business owner's insurance in Florida.

    What Does Florida Business Insurance Cover?

    A Florida business owners policy, also known as a "BOP," combines liability, property, and business income insurance for businesses into a single policy. This type of insurance protects a small business from a variety of issues that may arise, such as:

    • Theft
    • Fire
    • Vandalism
    • Personal property damage
    • Physical harm

    Various types of coverage can be customized in a Florida business owner's policy to meet the specific needs of a business. You can, for example, add income or data breach coverage to your policy if it meets your property insurance needs.

    What Does Business Owner's Insurance Cost In Florida?

    Different companies pay different premiums based on their risk exposures. A home-based business does not typically require as much coverage as a company with employees.

    A BOP plan can save some business owners up to 50% more than a standard business plan combined with a commercial property policy. Following are some of the main factors that go into the price of a policy:

    • Type of business (contracting, service, retail, etc.)
    • Business location
    • Years in business
    • Business experience
    • Annual payroll
    • Annual revenue
    • History of claims
    • Number of properties you wish to cover

    Other Insurance Types

    Knowing the different types of auto insurance and their coverages is important in getting the right policy for you if you want to cover your bases and get your commercial vehicles insured. Here are some of the most common types of car insurance, how they work, and what they cover:

    Reliable commercial or business auto insurance remains competitive in small and large enterprises. However, finding the right business owner’s policy can make a big difference in your business's future.

    To learn more about business owner’s  insurance policies, license and permit bonds, and surety bonds for your business in Texas, read through our blogs at Assured Standard and grasp what smart long-term business solutions could look like.

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    Assured Standard will protect your business with the right insurance, depending on your needs. Now more than ever, it’s crucial to have the right general liability insurance experts on your side. Protecting the future of your business starts today.
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