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Florist Insurance Policy Information

Florist Insurance

Florist Insurance. Florists sell flowers, flower arrangements, planters, related items, gifts, and novelties. While customers may select and pick up flowers at the shop, most orders are taken over the phone with shops providing delivery service for their customers. Peak seasons include Valentine's Day and Mother's Day.

If you've achieved your dream of owning a flower shop, then it's important to protect yourself with flower shop insurance as soon as possible. If you're wondering why florist insurance is a necessity, then take a look at the top reasons listed below.

By understanding more, it will be clear why taking out a policy as soon as possible is critical for the health of your flower business.

Florist insurance protects your flower shop from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.

Below are some answers to commonly asked florist insurance questions:

What Is Florist Insurance?

Florist insurance is a type of insurance specifically designed for florists, floral designers, and flower shops. It provides coverage for a variety of potential risks and losses that florists may face, such as damage or loss of flowers, equipment, and inventory, as well as liability and property damage claims.

Some common types of coverage included in florist insurance policies may include property coverage, liability coverage, business interruption coverage, and loss of income coverage.

How Much Does Florist Insurance Cost?

The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small florists ranges from $27 to $39 per month based on location, size, payroll, sales and experience.

Why Do Florists Need Insurance?

Florist With Customer

Florists need insurance to protect their business and assets from potential risks and losses. There are many potential risks and liabilities that florists face on a daily basis. These risks can include damage to the florist's property or inventory, injuries to employees or customers, and financial losses due to unexpected events such as natural disasters or power outages.

Insurance helps to provide financial protection against these risks, allowing florists to continue operating their business and serving their customers without worrying about potential financial losses. It is important for florists to carefully consider the types of insurance they need in order to ensure that their business is adequately protected.

In addition to protecting against physical damage and injury, florists also need insurance to protect against financial risks. For example, a florist may need to cancel an event or lose a large order due to unexpected circumstances, resulting in financial losses. Insurance can help to cover these losses and ensure that the florist is able to continue operating their business.

Insurance can also provide protection against legal liabilities. For example, if a customer is injured on the florist's property, or if the florist is sued for any reason, insurance can help to cover the costs of legal fees and any settlements or judgments that may be awarded.

Overall, insurance is an essential tool for any business, including florists. It helps to protect against a wide range of risks and liabilities, and ensures that the business is able to continue operating and serving its customers, even in the face of unexpected challenges.

What Type Of Insurance Do Florists Need?

Flower shops needs several commercial insurance polices to make sure their operations are properly protected:

Coverage For General Liability

Commercial general liability helps protect your florist shop in case of an accident. Maybe a customer slips on a wet spot on your floor.What if a vendor is accidentally lacerated by one of your cutting tools while in your store? General liability helps protect you against these and other potential third party bodily injury or property damage claims.

Coverage For Professional Liability

What happens if a customer claims you ruined her expensive wedding by delivering the wrong floral order? professional liability coverage, also known as "errors and omissions" insurance (E&O), may help protect your business in similar circumstances.

Coverage For Property Damage

When it comes to protecting the property itself, it's essential to have property damage coverage. This will cover you in the event that a fire occurs, there's a damage from a break-in, or there's any other physical damage occurs to the property. The limit will depend on many factors, including the amount of coverage you feel is adequate. An agent can help determine the ideal florist insurance coverage options for your policy specifically.

*Tip: An additional consideration to make is whether or not you should add special endorsements and/or supplemental policies to provide you with extra coverage. For example, what if there was a flood that damaged your building and flowers? In these situations, you'd need a commercial flood insurance policy to cover the damage to the building and contents inside of your store. Another example is spoilage insurance, which will replace inventory that's lost as a result of outside failures, such as a broken thermostat or fridge.

Wholesale florists face some of the same but also different risks.

Workers Compensation Coverage for Illness or Injury to Employee

If an employee were to be injured on the job or become ill due to an allergic reaction, workers' compensation would help provide coverage for their medical expenses. This is required in most for any non owner employees, and it's strongly recommended no matter where you live.

Coverage for Delivery Vehicles

If you provide delivery services, then it's crucial to have the proper florist insurance commercial vehicle coverage for any cars or trucks used for the business. There are several different types of vehicle coverage to choose from, including:

  • Standard Commercial Vehicle Coverage: For business-owned vehicles, this insurance is mandatory. In order to take out a policy, most insurance companies will require license information for each person who needs to be covered for driving. While this helps protect you, it's important to keep in mind that those with a negative driving history may be denied for coverage. This type of policy is not only for the authorized driver but also for the vehicle in the event of a collision.
  • For-Hire Coverage: If you use vehicles that are rented or borrowed to deliver flowers, then this insurance is essential. It's also important if you plan on hiring an outside service to take care of deliveries, even if they aren't employees. This will extend liability protection so you're covered in the event of an accident.
  • Non-Owned Coverage: If you have employees who will be delivering flowers in their own vehicles, then it's important to have non-owned auto insurance coverage. This is crucial even if each individual already has personal auto insurance, as the coverage may not extend to situations where they are delivering on the job (which could leave you with a lawsuit).

Employee Dishonesty Coverage

In situations where an employee stole from your business or participated in illegal activities, this florist insurance would kick in.

Business Income Coverage

If a disaster were to force you to close your flower shop, this coverage would provide you with income until you could open your doors again (normally up to 12 months).

Liability Insurance For Employment Practices

If you were to be sued by an employee for discrimination, illegal business practices, sexual harassment, etc., this insurance would cover punitive damages as well as legal defense expenses.

What Are Florists Risks & Exposures

Florist Taking Order

Premises liability exposure comes from slips and falls due to public access to the premises. Water on the floor due to watering of plants or spilling of vases is common and must be attended to quickly to avoid slips and falls. Floor coverings must be in good condition with no frayed or worn spots on carpet and no cracks or holes in flooring. Steps and uneven floor surfaces should be prominently marked. Sufficient exits must be provided and be well marked, with backup lighting systems in case of power failure.

Parking lots and sidewalks need to be in good repair with snow and ice removed, and generally level and free of exposure to slips and falls. If the business is open after dark, there should be adequate lighting and appropriate security for the area.

Delivery service to customers' premises could result in property damage losses should the driver destroy property belonging to the customer.

Products liability exposure is normally low. Plants with poisonous properties should have warnings to the consumer.

Workers compensation exposure is from lifting which can cause back injury, hernias, sprains, and strains, from slips and falls, and injuries from cuts and punctures. Employees should be provided with safety equipment, trained on proper handling techniques, and have conveying devices available to assist with heavy lifting. Employees making deliveries are exposed to road and traffic hazards, and may carry heavy and awkward plants and arrangements through congested areas. In any retail business, hold-ups may occur. Employees should be trained to respond in a prescribed manner.

Property exposures are moderate due to the possibility of power outages, and malfunctioning or overheating of refrigeration units. Any smoke or fire will result in significant loss to all fresh flowers. Power outages of refrigeration equipment can result in high spoilage losses. Equipment should be maintained on a regular basis, with backup generators available. Due to seasonal fluctuations, values must be carefully reviewed and anticipated from a coverage standpoint.

Flower shops generally sell live or growing plants, shrubs, bushes, trees, and flowers. These items may be protected in a structure such as a greenhouse, or outside exposed to loss from wind, rain, or other natural elements. These structures may not be designed to withstand the forces of nature. Older greenhouses may be made of glass subject to frequent breakage. Newer greenhouses are simply frames with plastic coverings, which need frequent replacement as they tend to yellow or cloud in the weather and block out necessary sunlight. Special programs and coverages are available to protect the structures and the growing plants or crops.

Due to dependency of the business on sales for Valentine's Day and Mother's Day, even a small loss occurring right before these peak times could result in a large business interruption claim.

Crime exposures are from employee dishonesty and theft of money and securities either from holdup or safe burglary. Background checks should be conducted on all employees handling money. There must be separation of duties between persons handling deposits and disbursements and handling bank reconciliations. Money should be regularly collected from cash drawers and moved away from the collection area, preferably to a safe on premises. Bank drops should be made throughout the day to prevent a buildup of cash on the premises. Delivery drivers should not collect money.

Inland marine exposures are from accounts receivable if the store offers credit, computers to transact sales and monitor inventory, goods in transit from deliveries, and valuable papers and records due to customers' and vendors' records. Backup copies of all records, including computer records, should be made and stored off premises.

Commercial auto exposure is significant since delivery is a normal part of this operation. Although flower shops do not generally guarantee delivery times, peak seasons, such as Mother's Day and Valentine's Day, can substantially increase the volume, which can put pressure on drivers to drive more recklessly. All delivery drivers must have acceptable MVRs that are checked regularly. Vehicles should be regularly maintained with documented records.

What Does Florist Insurance Cover & Pay For?

Florist Insurance Claim Form

Florists can be sued for a variety of reasons, including:

  • Property damage: If a customer's property is damaged as a result of the florist's negligence, such as a vase breaking or water damage caused by a leaking floral arrangement, the customer may sue the florist for the cost of repairing or replacing the damaged property.
  • Injury: If a customer or employee is injured while on the florist's premises or as a result of the florist's actions, such as slipping on a wet floor or getting pricked by a thorn in a floral arrangement, the injured party may sue the florist for medical expenses, lost wages, and other damages.
  • Product liability: If a floral arrangement or plant sold by the florist causes harm to a customer or their property, the florist may be sued for product liability.
  • Breach of contract: If the florist fails to deliver a product or service as promised, the customer may sue for breach of contract.

To protect against these types of lawsuits, florists can purchase a variety of insurance policies, including:

General liability insurance: This type of insurance can cover property damage and bodily injury claims, as well as lawsuits stemming from advertising or personal injury claims.

Product liability insurance: This type of insurance can protect against claims arising from harm caused by a product sold by the florist.

Professional liability insurance: Also known as errors and omissions insurance, this type of insurance can protect against claims arising from mistakes or negligence in the florist's professional services.

Business property insurance: This type of insurance can cover damage to the florist's property, such as damage caused by fire or theft.

Workers' compensation insurance: This type of insurance can cover medical expenses and lost wages for employees who are injured on the job.

For example, if a customer slips and falls on a wet floor in a florist's shop, the florist's general liability insurance can help pay for any medical expenses or other damages the customer may seek in a lawsuit.

If a customer sues the florist for product liability after being harmed by a plant purchased from the shop, the florist's product liability insurance can help pay for legal fees and damages awarded in a settlement or judgment.

If an employee is injured while delivering a floral arrangement, the florist's workers' compensation insurance can cover their medical expenses and lost wages.

Overall, having the right insurance coverage can help protect florists from the financial impact of lawsuits and other unexpected events.

Commercial Insurance And Business Industry Classification

Description for 5992: Florists

Division G: Retail Trade | Major Group 59: Miscellaneous Retail | Industry Group 599: Retail Stores, Not Elsewhere Classified

5992 Florists: Establishments primarily engaged in the retail sale of cut flowers and growing plants. Establishments primarily engaged in the -retail sale of seeds, bulbs, and nursery stock are classified in Industry 5261, and greenhouses and nurseries primarily engaged in growing seeds, bulbs, flowers, and nursery stock are classified in Agriculture, Industry 0181.

  • Florists-retail
  • Flowers, fresh-retail
  • Potted plants-retail

Florist Insurance - The Bottom Line

Purchasing florist insurance can provide you with the protection that you both and want need for your business. In order to ensure you select the limits and specific coverage options that are right for you in particular, it's recommended to work with an experienced agent.

With their expertise and knowledge, they will help you minimize risks and ensure your business is fully covered for whatever comes your way.

Do you need to make sure you don't overspend so you can keep your business running smoothly? Fortunately you can compare quotes for various florist insurance policies to ensure you're able to keep within your budget while still getting the protection you need.

Additional Resources For Retail Insurance

Read valuable small business retail insurance policy information. In a retail business, you need to have the right type of commercial insurance coverage so that your store, employees, and inventory are protected.

Retail Insurance

The retail industry is a vital sector of the economy, providing goods and services to consumers across the globe. It is also a sector that is constantly evolving, with new technologies and trends emerging on a regular basis.

Despite its importance, the retail industry is not without its risks. Retail businesses face a variety of threats, including theft, damage to property, and liability issues. These risks can have significant financial consequences for retail businesses, which is why commercial insurance is so important.

Insurance can provide retailers with protection against financial loss resulting from unforeseen events. For example, if a retail store is damaged by a natural disaster, insurance can help cover the cost of repairs and help the business get back on its feet. Similarly, if a retail employee is injured on the job, insurance can help cover their medical expenses and any lost wages.

In addition to protecting against financial loss, commercial insurance can also help retail businesses protect their reputation. If a retail business is sued or faces other legal challenges, insurance can provide financial support and legal representation. This can help to protect the business's reputation and maintain customer trust.

Overall, insurance is an essential component of a successful retail business. It helps to safeguard against financial loss and protect against potential legal challenges, which can be especially important for smaller businesses that may not have the resources to absorb these types of losses.

By investing in business insurance, retail businesses can ensure that they are well-equipped to handle the many challenges that come with operating in this dynamic industry.

Minimum recommended small business insurance coverage: Business Personal Property, Business Income and Extra Expense, Equipment Breakdown, Employee Dishonesty, Money and Securities, Accounts Receivable, Computers, Valuable Papers and Records, General Liability, Employee Benefits, Umbrella, Hired and Non-owned Auto & Workers Compensation.

Other commercial insurance policies to consider: Building, Earthquake, Flood, Leasehold Interest, Real Property Legal Liability, Computer Fraud, Forgery, Bailees Customers, Goods in Transit, Jewelers Block, Cyber Liability, Employment-related Practices, Business Auto Liability and Physical Damage and Stop Gap Liability.

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