The success of any new business depends on providing a great product or service but also needs to incorporate sound property management decisions. Carrying the right types of business insurance to protect the business assets is one of the more important decisions that can be made to ensure longevity.
Theft and Vandalism Coverage
Any business can become a target for theft and vandalism. The costs of replacing merchandise, equipment, vehicles and repair buildings can wipe a small business out. The affordable cost of an insurance policy that can replace or repair these items can make it possible for a business to move forward without suffering a devastating loss.
Foul Weather Protection
Florida provides businesses with plenty of blue skies and sunny days, but there are times that the weather can be rough. The threat of hurricanes, hail, severe thunderstorms, and winds mean the very real possibility of property damage. Having adequate property insurance to cover damage from storms will help you better manage the costs of staying in business. You will be able to get back to normal quickly.
Flood coverage is not a part of normal business insurance. You have to take out a separate policy that specifically covers flood damages. It is a good policy to have with the unpredictable weather that has been occurring in many parts of the country. Any business that is close to large bodies of water and subject to tropical storm systems should carry flood insurance.
Business Interruption Insurance
Anytime a business has to be closed for an unexpected emergency, repair, or rebuild there is a loss of income. This can hit a smaller to mid-size business hard if it extends int weeks. Business interruption insurance policies help bridge the gap. It will help a business pay utility bills, employee payrolls, and mortgages while the business is down.
Commercial Vehicle Coverage
Businesses that operate commercial vehicles need to have the limits of commercial liability to operate on the Florida roadways legally. It is wise to check into additional policies to cover comprehensive/collision, uninsured/underinsured motorist and roadside assistance.
Contact an expert insurance company Lakeland Fl for all of your business insurance needs today!