Frequently Asked Questions About
Commercial General Liability Insurance
How much does commercial insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number.
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it.
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
Florida Process Server Insurance
Florida Process Server Insurance. In today's business and social climate, it's imperative that process servers have all the facts, but getting them is not always easy particularly in the face of legislation that has grown out of greater public focus on the issues of privacy, profiling and civil liberties. Conducting skip-traces and attorney services can be like walking a tightrope. One slip can have serious and lasting repercussions.
For such instances, having proper Florida process server insurance coverage specifically designed for process serving companies, or individuals, is critical. This not only protects your business, but also provides indemnity from, the acts of employees, independent contractors and others.
Florida process server insurance protects your business from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.
What Is The Role Of Process Servers?
Process servers are required for various tasks such as filing court papers and document retrieval. However, their principal task is delivering or "serving" legal documents to defendants or persons involved in the court case. Once they serve the legal documents, they have to deliver evidence that the documents were served.
Types Of Process Server Insurance
But before purchasing Florida process server insurance, it's important to speak with a qualified insurance agent. Making a mistake in your selection of coverage could prove extremely costly. Provided here is a quick guide to insurance coverages available for process servers:
Professional Liability: Even though no state requires that process servers carry professional liability (errors and omissions) insurance, that doesn't mean they shouldn't carry it. In fact it's something that many have in order to run a process service business. The liability of not having Florida process server insurance far outweighs the cost of having the policy.
Professional liability (E&O) protects your financial assets in case of alleged financial harm to a third party, resulting from an error or omission by the process server. Most commonly, this would occur from alleged negligence, wrongful service, missed filing deadlines, blown statute of limitations, etc.
For instance, the court documents you're to file with the Court has a mandated deadline of 4:30 pm. You arrive late at 4:35 pm due to a traffic problem. The client you are working for must now prepare documents to present to the court as well as appear in person before the court. Who pays the attorney's bill at $350.00 per hour? Your Florida process server insurance covers the bill.
Professional liability insurance also provides the extra reassurance that the process server is legitimate. Having insurance coverage demonstrates that the individual is organized, responsible and able to rectify an unfortunate incident.
General Liability: You need general liability insurance to provide coverage for legal hassles resulting from injuries and accidents. This Florida process server insurance policy protects against payments resulting from property damage, bodily injury, medical expenses, slander, libel, the cost of defending lawsuits, and settlement bonds or judgments required during an appeal procedure.
Commercial Property: Business property insurance provides coverage for the loss or damage of your company's property if caused by events like wind, fire, hail storms and vandalism. The definition of "property" is broad, and includes, buildings, computers and company papers.
Business Owner's Policy (BOP): A business owner policy packages all required coverage you would need for your company. Often, BOP's will include business interruption insurance, property insurance, vehicle coverage, liability insurance, and crime insurance . Typically, you will save money by choosing a BOP because the bundle of Florida process server insurance often costs less than the total cost of all the individual coverage's.
Property insurance also provides operating funds when you're trying to get your business on track following a catastrophic loss. Some policies include coverage for your equipment if they break down, water damage, debris removal after fires and other destructive events, among other losses.
Workers Compensation: This Florida process server insurance protects your company against injury and illness claims by employees. If you are a sole owner and employee, with no other staff, you don't need workers comp in most states. As soon as you employ one person, even if they are working for you on a voluntary basis, the law requires you to have FL workers comp in place. This will cover medical treatment, disability and death benefits in the event an employee is injured or dies when working for you.
Cyber Liability: If you store sensitive or non-public information about employees or clients on your computers, servers or in paper files you are responsible for protecting that information. If a breach occurs either electronically or from a paper file this Florida process server insurance policy will provide protection against the loss.
FL Process Server Insurance
While commercial insurance is not all inclusive, FL process server insurance plans will cover most of your businesses risks.
Florida Economic Data And Commercial Insurance Requirements
If you are thinking about starting up a business in the state of Florida, it's important to understand the economic standing of the state before you set up shop. Furthermore, you should understand the rules and regulations regarding FL commercial insurance.
With this information, you will be able to determine if Florida is the right place for your business, and if so, what type of insurance you will need to carry to protect yourself, your employees, and the people that you serve.
Economic Trends For Businesses In FL
Florida is known as the sunshine state, and the economic outlook for this state is just as bright as the weather. It is estimated that the economy in Florida will reach $1 trillion by the end of the 2019 calendar year. However, while financially, the economy is expected to boom, it is forecasted that job growth will decline.
The reason for the economic boom? While businesses do certainly contribute to the economy, industry isn't the reason why Florida's economy is expected to soar; the residents that move to the state are largely responsible for its economic growth. Approximately 898 people move to Florida every day, and those new residents bring a tremendous amount of income for the state.
In terms of job growth, the rate of new jobs has been its highest since 2007; however, it is forecasted to slow during 2018. Approximately 180,000 new jobs will be added in 2018, which is slightly less than the new jobs that were added in 2017.
The industries that contribute the most to Florida's economy include:
- Aviation & Aerospace
- Financial Services
- International Trade
- Life Sciences
Commercial Insurance: Regulations & Limits In Florida
The Florida Office of Insurance Regulation regulates insurance in FL. The only type of coverage that business owners must carry is workers' compensation. Organizations in any industry must carry this type of coverage if they employ a staff of hourly or salaried workers. But, organizations that employ three or less people are not legally required to carry this type of coverage.
Business owners are also required to carry commercial auto insurance if they use any vehicles for their operations, such as making deliveries or transporting goods. Commercial liability insurance is another type of coverage that Florida business owners should consider carrying, though they are not legally required to have this type of insurance.
Additional Resources For Miscellaneous & Non-Profit Insurance
Find informative articles on miscellaneous businesses including the types of commercial insurance they need, costs and other considerations.
- Agriculture, Forestry, Fishing & Hunting
- Assisted Living Facilities
- Employment / Staffing Agency
- Engraving Business
- Facility Support Services
- Mail Order
- Parking Lot
- Personal Concierge
- Photofinishing Lab
- Private Water Districts
- Process Server
- Public Liability
- RV Parks & Campgrounds
- Unmanned Aerial Vehicles (UAV) Drone
- Wedding Planner
An insurance contract is an agreement where one party obligates itself to make good the financial loss or damage sustained by a second party when a designated event occurs. The event must be fortuitous and happen by accident. The named insured must have insurable interest at the time of loss. One final point is that in order for any contract to be considered insurance, there must be a risk of loss.
Fortuitous Event - An occurrence largely beyond the control of any involved party; happening by chance; accidental; for example: fire, lightning, windstorm, explosion or flood.
Insurable Interest - In order to recover from a loss to property, the holder must have an insurable interest in the property at the time of the event or occurrence. An insurable interest is any right, title or interest in property where the holder of that right, title or interest sustains financial loss if the property is damaged or destroyed. Any lawful and substantial economic interest in the safety or preservation of the property from loss, destruction or damage also constitutes an insurable interest.
An entity does not have to be the property owner to have an insurable interest in it. Examples include, but are not limited to, mortgagees, trustees, vendors, lessees and bailees. Insurable interest for any entity must exist at the time the loss occurs.
Risk Of Loss - If property could never be destroyed, there is no risk of loss. If property must necessarily disintegrate or be destroyed, there is no risk of loss. Between these two extremes is the exposure of risk that can be insured.
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Quotes from leading small business insurance carriers including: ACE, AmTrust, Chubb, Cincinnati, CNA, Colony, Employers, Evanston, Fireman's, Foremost, Guard, Hanover, Hiscox, Liberty Mutual, LLoyd's of London, Markel, MSA, Nationwide, Penn America, Philadelphia, Prime, Progressive, Scottsdale, The Hartford, Travelers, USLI, Utica First, Western World, Zurich & others.