You’ve just looked at your monthly business financials and they are grim. You have to find a corner or two to cut, but don’t be tempted to put your insurance budget line on the chopping block. No business should ever be without the Orlando commercial insurance coverage it is required to carry. If you decide to save money by reducing or canceling your coverage, you risk losing everything. If a disaster were to strike or there were to be an accident at your place of business, those injured could sue you for your business and personal assets. Consequently, it is never worth the risk to be uninsured.
In Florida, you must include workers’ compensation in your Orlando commercial insurance coverage if you have four or more part-time and/or full-time employees. While the state does not require you to carry liability coverage, keep in mind people love to sue in Florida almost as much as they love to sue in California so it’s best to have it. You want to protect your property against damages, including those from Florida’s famous hurricanes, and take into account your chances of damages from wind and hail. Should Mother Nature unleash her wrath on you or should someone get injured on your business property, proper insurance coverage will protect your bottom line better than anything else will.