What type of coverage do you need?

Orlando, Fla.—As much as we love our sunny state, like it or not, every year we have to deal with Hurricane Season which begins June 1st and ends on November 30. Especially during the month of September, which is the peak of the season in the Atlantic, everyone in Florida knows the need to be well prepared to safeguard life and property. For the business community it is no different.

Small businesses, and those that are home based, very popular in Florida by the way, may be among the ones that suffer the most with the loss of services like power, internet and the need to protect the rest of the household. It becomes a complete business interruption for many.

Business owners who work from home, rarely understand the importance of getting their operation protected against these type of events in order to prevent loss of revenue. The rest of your home may be covered by your homeowner’s policy, and a policy with increased business property limits it may cover up to $1,500 for furniture like your desk and business promotional materials. In some cases this would be enough, in others not so. That is the reason why an endorsement could be needed.

This is an option suitable for businesses that would not exceed $4,999, you don’t host customers at your home-based business, and the $750 that your policy covers for personal property intended for business use from home, suffice.

Also, if you need coverage in the event a third party, such as a client or customer, visits your home for business reasons and gets injured there is a Commercial General Liability Insurance.

Home business insurance is not a type of insurance in itself, it is more like a combination of insurance policies needed by businesses operating out of a home. You could benefit from purchasing a business owners policy (BOP) if the following types of insurance are needed: commercial general liability, commercial property insurance, and certain other insurance types, if needed. The reason is that if you need at least two types of insurance, they can be packaged together into one BOP for a lower total premium cost and that’s how you save, compared to buying policies individually.

Now, if you own or lease a commercial space — there is a different story.

A commercial space of your own would require commercial property insurance to cover:

Physical structure

Permanent fixtures

Permanent machinery like air conditioning units.

Valuable documents

Loss of materials that prevent you from doing business.

If your space is leased your commercial property insurance covers contents only that belong to your business solely and not the landlord.

Now during the hurricane peak season, stay safe, be prepared and get the right coverage at the best possible prices in the market. Don’t shy away from letting us know your questions about your particular business needs. Our trained local commercial insurance agents are prepared to assist you with solutions that are tailored to you, and your business. Give us a call at Garzor Insurance at (321) 206-8035.

Posted 5:43 AM

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