Choosing the right florist insurance is as important as choosing a business partner. A florist with an inadequate insurance policy would be in trouble if they ever faced any kind of claim. The flower industry is risky and there are many things that a florist might not know. There are a few important questions that you need to ask yourself before choosing Flower Shop Insurance Keep reading to discover more information.
What Does Flower Shop Insurance Protect?
The flower industry isn’t like most industries. The risk of injury is high which is why it’s important to have insurance coverage in place. A florist could be sued for a variety of reasons and that is something that should never happen. Insurance will protect the florist from liability and potential lawsuits related to their business, including:
- Loss or damage to flowers
- Personal injury
- Damage or theft of property by third parties
Flower shop insurance also protects against risks associated with running a business. For example, if your shop has a fire, those damages are covered by insurance. You are also protected against any injuries that employees sustain while they are on the job. There are many benefits to having this type of coverage and it’s one you need to consider before starting your own shop.
How Much Flower Shop Insurance Should You Buy?
There are four main types of coverage for the business. They include general liability, property, auto, and workers’ compensation. Although every florist’s needs are different, it is recommended to get workers’ compensation insurance along with general liability and property coverage.
What Flower Shop Policies Cover
Pick the right Flower Shop Insurance policy and you will be able to protect your business from any potential liability. Some policies provide broader coverage than others. Policies with higher premiums usually offer better coverage.
What Flower Shop Policies Do not Cover
Many florists think they’ve purchased the right insurance when they have a basic liability policy. However, this is not always the case. Basic liability policies cover only bodily injury and property damage that occurs on the premises.
Blowouts, thefts, or break-ins are not covered by a basic policy. Neither is any family violence or premises vandalism that occurs at your store. Your basic policy might also leave you uncovered if you ever have to close your shop for an extended period of time due to a natural disaster like a fire or flood. And finally, in the event of lawsuits from customers who were injured inside your store, you would be out of luck if you were only covered for accidents on the premises.
How Can You Get the Best Flower Shop Insurance Rates?
You will not be able to make an informed decision without looking at the different rates that are available. You don’t want to choose the first florist insurance quote that you receive. When you are looking for rates, start by getting a quote from your current provider. It may be more work, but it could also save you money in the long run.