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Buying a Better Business Insurance Policy

Obtaining quality Florida business insurance is an important part of running a successful business that provides sufficient protection from the many risks that you and your company face every day you open your doors to the public (and even when the “closed” sign is in the window). If you are wondering how to obtain the best, most comprehensive policy at a reasonable price, just know that your search becomes much easier when you turn to a professional insurance agent to guide you. Here are just a few of the things your agent will want to discuss with you: What Affects Your Premium Amounts? The amount of exposure your business will face. The amount of your policy premiums will also in part be determined on the location of your business, the type of building in which your business operates, the proximity and ability of the local fire department, the coverage amount you select, your track record—(have you filed many claims in the past?) and the deductible amount you are comfortable with assuming—that is, the out-of-pocket amount you will pay in the event of a claim. Higher deductibles generally result in lower premiums, but in exchange for that price discount you are taking on an additional element of financial risk; your agent will go through the pros and cons of each choice to arrive at the best decision for your circumstances. Of course, prices for coverage will also vary from one insurer to another, as does the specifics of what is covered and what is excluded from the policy. Coverage can be purchased separately on an a la carte basis or in a combined package with typical coverage options that together form a business owners policy, or BOP. If your business has unique, very specific exposures, it may be a good idea to purchase additional coverage for those risks. Talk to your agent for recommendations on a Florida business insurance program. That way, you can focus on profits while your agent focuses on protection.