A floral business covers a lot of aspects of the insurance world. There are lots of moving pieces with a lot of possible liability that needs coverage. Let’s take a look at some of the things that you should consider when looking for a policy for your business.
Inventory And Space
As a florist, you usually have a lot of inventory. Your inventory only lasts for a little while and then it goes bad and is not good any more. A business insurance policy will provide protection in case something goes wrong with the items that you are trying to sell. If you don’t have any flowers to sell, you have no business. You also need liability insurance to cover the space where you are working. Say a pipe burst and sprays water all over the place. You need insurance coverage to pay for the damages and for someone to repair your space so you can continue to operate. This falls under commercial property insurance.
Employees
You need insurance to cover any employees that may be working for your business. If someone gets hurt at work, you need to have a way to help pay for their medical bills. If one of your employees causes damage to someone else’s property (on purpose or not), you will need to have insurance to help cover those expenses as well. There are a lot of things that could happen that might require your business to pay to fix them. Having liability insurance means that you are not hung out to dry and that your insurance policy will help you pay for these damages.
Business Income Coverage
If for some reason you need to close your business unexpectedly, you may need help paying your bills. If there is a medical issue, a location issue, or a problem with your employees, you will want to have a backup option available to supplement your income. Business income coverage can help you handle this. It is available just for these reasons and can help you not go bankrupt. Knowing you have it in your back pocket just in case will put your mind at ease, leaving you to deal with the daily things that may pop up.
If you are looking at getting insurance for your florist business, or any other small business, Amistad insurance has all the details you need to get the right policy for you. Give us a call and we’ll be happy to help you get a free Raleigh business insurance quote and figure out the best options. Having business insurance done the right way will let you be successful and focus on running your business.
