Florist Insurance
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What Insurance Do Florist Need?
Professional Liability Insurance (or E&O Insurance), protects your small business from claims of mistakes, negligence or malpractice made when providing your services that caused sobody financial loss. PLI covers your legal defense costs, damages and settlements.
Business Owners Policy (BOP) protects you from business liability and property damage at a lower cost. BOP covers claims resulting from fire, theft & disasters. BOP also covers claims of bodily injury or property damage during your business operations.
Employment Practice Liability Insurance, or EPLI, protects you from employment-related claims. If you're accused wrongful termination, discrimination in hiring or firing or workplace harassment, EPLI covers your defense and settlement costs.
Business Interruption Insurance protects your small business if impacted by a covered risk. It'll cover the costs in replacing lost income and paying for additional expenditures. Also known as Business Interruption Coverage, this policy is usually part of your BOP (Business Owners Policy).
Frequently Asked Questions
Why do Florists need insurance?
Every rose has its thorn, as they say. So your flower shop may be in its upside now, but there may be unforeseen accidents and risks that could cripple your business almost immediately. Insurance will make sure that these risks are covered by paying for it. Instead of wasting your business and personal assets on an accident or lawsuit, your insurance will pay for it in exchange for an inexpensive monthly fee.
What risks do Florists face?
Your insurance will have your back, so you can do your job with confidence. Here are some common risks that your business can face:
- A customer slips on a spill inside your shop, causing injuries. You are left liable for all expenses.
- A burst pipe in the ceiling floods your store and all your flowers soggy, leaving them unsellable.
- An employee while trimming trees, slips and cuts his hand deeply. Because of the injury, the employee can't work right away and may need physical therapy to get back on his/her feet again.
How much does Florist Insurance cost?
The cost of insurance for florists varies on the type of services you offer, the number of employees you have and the coverage requirements. There is no fixed rate for an insurance policy, so to get the cost of your insurance, give us a call or apply for a free quote online.