What type of coverage do you need?

Orlando, Fla. — We have talked before about the importance of small businesses in America  the scenario is very similar around the world. In the UK alone, they are also one of the most vigorous sectors of the economy, with 97,000 new SMEs formed each year.


Most business owners, including home-based businesses, can’t visualize the impact of unpredicted events, to their small operation. Having an appropriate Business Owners Policy (BOP) coverage can mark the difference between escalating your business’ success to the next level, or failing to pursue your very own dream.

As a Small Business Executive you often need personalized advice but are not comfortable paying premium services tailored to bigger corporate clients.

An insurance survey from 

Global Digital Small Business explored more than 2,100 small businesses in 14 countries  and confirms that there is unmet demand for digital insurance services.

Here’s a reason why — Small businesses are confident about their business needs, but are often unknowingly underinsured. When we asked for details of their current insurance policies, investigators found that many were unknowingly underinsured:

  • 18% of businesses do not have liability insurance in place.
  • Only 50% of businesses had indemnity insurance.
  • Only 16% have cyber insurance in place, despite an additional 46% recognizing that it could be applicable to their business.

To find out, they spoke to 2,100 small businesses (with up to 50 employees) in 14 countries. Their responses uncovered a demand for digital insurance services that is not being met by the industry.

One important finding of this study, is that small businesses are also looking for insurers like Garzor who work as part of a broader ecosystem of service providers, with more than 50 of the most prestigious insurers of the country,  to provide services as a ‘one-stop shop’ digital platform for accessing a wide range of services, including market trends, tax, legal and regulatory advice, online banking, and accounting.

To give you genera idea, small business insurance costs could depend on many different factors:

Type of policy a business purchases. Your General Liability Insurance is one of the least expensive policies and pays losses arising from real or alleged bodily injury, property damage, or personal injury on your business premises or arising from your operations.

Size of the business. Your physical workspace affects your General Liability and Property Insurance requirements.

Type of industry. Businesses in high-risk industries may have slightly higher insurance rates. It is important to receive professional advice in order to avoid overlooking important details that may leave you under insured when not considered.

Location. Where your business is located does have an  impact in the value of your commercial real estate, the state insurance laws you must comply with, and geographical risks that can jeopardize your physical assets.

Revenue. Unfortunately for every business owner, the chances of getting sued have dramatically increased in the last decade. Generally, the more money you make, the more you stand to lose in a lawsuit.

Number of employees. The number of employees affects your Workers' Compensation Insurance rates.

Garzor Insurance is ready to service you with expert advice both online and in person in case our systems can’t answer your questions online.

You know what they say: “Just click or call!”

For personal insurance solutions check out our sister company Orlando Insurance Center
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