Business and commercial insurance helps provide financial protection from numerous perils. Your agent can help design a business insurance plan to address common risks faced by your organization. Contact B.I.A. & Company in Coral Gables, Florida, to get a personalized quote for business insurance.  

What Commercial Insurance Do You Need? 

Commercial insurance policies are highly customizable. Depending on your needs, your agent may recommend that you purchase the following: 

• Commercial property insurance helps provide coverage for loss or significant damage of your company’s buildings, structures and property such as inventory, standard furnishings and tools.

• Commercial general liability insurance helps provide coverage for general business risks, including third-party injury or illness claims, copyright infringement and advertising injury.

• Business interruption insurance helps provide financial support if your company must close or relocate to allow for repairs after a covered event.

• Business owners policy (BOP) helps provide coverage for three main types of business insurance, including general liability, commercial property and business interruption insurance. This policy combines common insurance policies at a discount. Not every business is eligible to purchase a BOP. Companies that can purchase a BOP can also customize their coverage to include other policies and endorsements. Consult your agent to learn more about this policy type.

• Cyber liability insurance helps provide coverage for a variety of risks, which may include media liability, network security liability and privacy liability after a security breach or an attack by hackers.

• Workers compensation insurance helps provide financial support and pay medical bills if an employee is injured or becomes ill in a work-related incident.

• Professional liability insurance, also called errors and omissions insurance, helps cover the costs of legal defense against judgements and claims made against your company, officers or employees.

• Commercial auto insurance is highly customizable and required for Florida companies using vehicles for everyday business purposes and is a highly customizable policy

There are numerous policies and endorsements available to help provide the coverage your company needs most. Talk with your agent to learn more about other commercial insurance types.   

Does Business Insurance Cover Theft? 

Theft is one of the perils commonly covered by business insurance. Depending on what is stolen, your business property insurance policy or business crime insurance may help cover your company’s losses.  

If you have specific concerns about the theft of company property, talk with your agent to determine which policy may provide appropriate coverage.  

How Much Does It Cost to Insure a Business? 

Your business insurance policy premiums depend on numerous factors about your coverage and your company. Insurers set rates using proprietary algorithms, which may include data about the following: 

• Your company’s location, industry, size and claims history

• Your policy coverages and limits

• Your deductibles

• The value of your company’s property

• Your company’s exposure to risk

Your agent can help you get multiple business insurance quotes from reputable insurers.  

What Are the Common Misconceptions About Business Insurance? 

There are a few business insurance myths that can be confusing. Small businesses may believe they are “too small” to need insurance. However, your need for business insurance isn’t related to the size of your company but rather the exposures and risks your organization may face.  

Some business owners decide not to purchase insurance because they mistakenly believe it’s too expensive. While business insurance isn’t free, the coverage it provides can help protect your organization from financial harm when unexpected events trigger a liability claim or the need for repairs.  

Contact Us 

Call B.I.A. & Company to get the business insurance you need tailored to meet your company’s needs.