Best Small Business Insurance in Florida 2025
Florida Small Business Insurance Ratings
Types of Business Insurance in Florida
Whether you’re running a small donut shop or heading up a digital ad agency in Florida, having the right small business insurance is crucial for a business. You’ll want to make coverage decisions based on the size of your business and your industry. Here are some common types of small business insurance.
Florida General Liability Insurance
General liability insurance covers a small business for accidental injuries and property damage caused to others. It also covers claims against you for copyright infringement, libel and slander. General liability insurance also pays for your legal costs, such as attorney fees, settlements and judgments.
Florida Professional Liability Insurance
Professional liability insurance covers your small business if someone accuses you of making mistakes in your professional services, even if the claim has no merit. For example, if a client claims your tax preparation services resulted in financial harm, your professional liability will pay your legal costs.
Professional liability insurance is also called errors and omissions insurance.
Florida Workers’ Compensation Insurance
Florida workers’ compensation insurance covers your employees’ medical bills, lost wages and other expenses if they get injured or ill due to work-related tasks. Here’s who must have workers’ comp in Florida:
- Agricultural employers with six regular employees and/or 12 seasonal employees who work more than 30 days during the season but no more than a total of 45 days in a calendar year.
- Construction employers who have one or more employees including business owners who are members of a limited liability company or corporate officers.
- Employers who have four or more employees including business owners who are corporate officers or LLC members.
Other Types of Florida Business Insurance
You’ll likely need to add other types of small business insurance to cover the risks that your small business faces in Florida. For example, you’ll want to cover business property such as your building, signs, inventory and office equipment.
A good approach is to start with a business owners policy (BOP). A BOP bundles general liability insurance with business interruption insurance and commercial property insurance. It’s usually cheaper to buy a BOP compared to buying each coverage type separately. Here’s what they cover.
- Business interruption insurance: If you cannot open your business due to a problem covered by your policy, such as weather damage, business interruption insurance covers your lost business income. It also covers relocation costs if you have to move to a temporary location.
- Commercial property insurance: This covers the physical property of your small business for problems like theft and fire damage. Commercial property insurance covers business property such as furniture, tools, equipment, business records and inventory.
You can build on a BOP by adding extra coverage as needed. Here are some other business insurance types to consider:
- Builder’s risk insurance. This provides property coverage for buildings and structures that are under construction. Builder’s risk insurance is also known as “course of construction insurance.”
- Commercial auto insurance: If you drive a vehicle for work, you’ll need commercial auto insurance. Your personal car insurance policy won’t cover accidents that happen while you’re doing business.
- Commercial umbrella insurance: If your general liability insurance limits are exhausted, this coverage kicks in. For example, if your small business is sued for $800,000 and your general liability limit is $500,000, your commercial umbrella insurance would cover the shortfall.
- Cyber liability insurance: This covers data breaches and cyber attacks. Cyber liability insurance pays expenses like investigative services, data recovery and legal costs.
- Directors and officers (D&O) insurance: This liability insurance covers decisions made by company directors, officers and board members. If someone sues your business, directors and officers insurance can cover their legal costs.
- Inland marine insurance. If your business transports materials or products on land by truck or train, inland marine insurance pays for property that has been damaged, lost or stolen.
- Medical malpractice insurance: This covers claims resulting in patient death or injury, including medication errors. The types of professionals who need medical malpractice insurance include physicians, dentists, optometrists, nurses, counselors, acupuncturists and therapists.
- Product liability insurance. This covers your company if one of your products causes injuries to others or damages someone’s property. Product liability insurance pays the costs resulting from claims or lawsuits.
- Technology errors and omissions insurance: This covers technology businesses from customer claims. The types of small businesses that may need technology errors and omissions insurance include computer consultants, software developers, website developers and IT contractors.
Cost of Business Insurance in Florida
The average cost of general liability insurance in Florida is $45 per month, according to Insureon. Professional liability insurance costs an average of $61 per month and workers’ compensation insurance costs an average of $46 per month.
The exact amount you’ll pay for small business insurance depends on several factors, including:
- Annual revenue.
- Coverage limits and deductibles.
- Number of employees.
- Your industry.
How to Get Business Insurance in Florida
Here are a few tips to help simplify the buying process.
- Determine what coverage you need. A BOP is a great start for a small business, but you’ll most likely want to add more coverage types to address the risks that your particular industry faces. For example, if you store sensitive information like customer names, addresses and Social Security numbers, you’ll want to add cyber liability insurance.
- Compare quotes. The cost of business insurance can vary among insurers for the exact same coverage amounts, so make sure you get business insurance quotes from multiple companies. You can work with an independent agent to help you find the best coverage and price.
- Check your policy every year. As your business grows, you could add more risks and need additional coverage. For example, if you add a service that requires you to drive to a potential clients’ homes for consultations, you’ll want to add commercial auto insurance to your policy.
How To Save Money on Business Insurance in Florida
Jason Metz
Insurance Lead Editor
Ashlee Valentine
Insurance Editor
Michelle Megna
Insurance Lead Editor
Get Quotes From Multiple Insurers
It’s wise to shop around when buying business insurance. Once you figure out what coverage you need, request quotes from at least three companies to determine which one offers the best rates.
Insurance Lead Editor
Choose a Higher Deductible
A policy’s deductible is one factor that influences business insurance costs. Ask insurance companies how much you would save on your premiums by selecting a higher deductible. Remember that choosing a higher deductible means you will get a lower reimbursement from the insurance company when you file a claim.
Insurance Editor
Pay Annually
Business insurance companies may offer discounts if you pay your yearly premiums in full rather than paying monthly. That’s one type of discount that insurers may offer small businesses in Florida. Ask insurance companies for a list of their discounts when getting quotes.
Insurance Lead Editor
Methodology
To find the best small business insurance in Florida we analyzed large Florida business insurance companies based on 2022 complaint data for commercial liability, commercial property insurance and commercial auto insurance. Complaint data is based on complaints upheld by state insurance departments across the country and collected by the National Association of Insurance Commissioners.
Business Insurance in Florida Frequently Asked Questions (FAQs)
Is business insurance required in Florida?
You are only required to have workers’ compensation insurance in Florida if your business has four or more employees, including corporate officers and LLC members. Agricultural and construction businesses are also required to have workers’ compensation, depending on the number of employees.
You may be required to have other types of small business insurance if your client or Florida requires it. For example, Florida requires doctors to have medical malpractice insurance with at least a $100,000 per occurrence limit and a $300,000 aggregate limit.
Who regulates business insurance in Florida?
The Florida Office of Insurance Regulation is responsible for regulation, compliance and enforcement of statutes related to insurance. This includes business insurance rates, licensing, policy forms, claims and administrative supervision. The office is funded by taxes and fees charged to the insurance industry.
You can contact the Florida Office of Insurance Regulation at (850) 413-3140 or by visiting the Florida OIR website.
What insurance is needed for an LLC in Florida?
A Florida LLC needs small business insurance to cover risks such as accidental injuries and property damage to others, stolen business property, car accidents in work vehicles and other types of problems.
An LLC in Florida needs workers’ compensation insurance if you have four or more employees, including LLC members and corporate officers. If your LLC is an agriculture or construction business, you’ll also need to have workers’ comp depending on how many employees you have.
