Of all the places in America to start a business, fewer are more ideal than the Sunshine State. Behind the vast expanse of white sand and clear water lies the 4th largest economy in the United States.1 With a 4.458% corporate tax rate and zero income tax, it’s no wonder why 2.7 million businesses call Florida home.

Since the founding of St. Augustine in 1565, Floridians have been perfecting the age-old balance of work and play. No matter your industry, you’re bound to find the right place to set up shop and plenty of paying customers. But before you light up that open sign, you need to make sure you’re covered for potentially expensive mishaps. You need to get insured.

What business insurance am I required to get in Florida?

Florida workers’ compensation insurance

As a Florida business owner, you’re required to purchase workers’ compensation coverage if you have four or more part-time or full-time employees. Florida state laws are serious about workers’ comp. The penalty for not having a policy can be steep.

  • Workers’ compensation insurance exists to safeguard employees from financial impact related to injuries or illnesses sustained on the job. As a business owner, it also protects you from liability related to employee injuries.
  • Workers’ compensation covers expenses and lost wages caused by the following:

Work-related accidents and injuries, such as repetitive stress injury, and resulting disability Illnesses caused by or related to employment

Florida auto liability insurance

If you drive a car, truck or van as part of your business operation, you’re required to have auto liability insurance or qualify as a self-insurer. Auto liability insurance can protect you and your business from the following types of third-party claims resulting from auto accidents involving your vehicle:

Property damage – If you get into an accident in which you are at fault, your auto policy’s Property Damage Liability coverage insures the cost to repair or replace the other party’s vehicle.

Bodily injury – If you get into an accident in which you are at fault and the driver or a passenger of the other vehicle is injured, your auto liability insurance will cover the additional costs arising out of bodily injury, including medical expenses and death benefits once the injured party has exceeded all PIP benefits available under their policy.

In Florida, your auto liability insurance also provides coverage for:

Personal Injury Protection (PIP) – Personal Injury Protection covers 80 percent of all necessary and reasonable medical expenses up to $10,000 resulting from a covered injury, no matter who caused the crash.

Also, depending on the use of your vehicle, the kind of vehicle or if your vehicle is registered or titled under your business name, you may need a commercial auto insurance policy to secure the the appropriate coverage and vehicle registration, and avoid penalties.

What other types of business insurance are recommended for Florida?

Florida general liability Insurance

General liability insurance (also known as CGL—for commercial general liability) is one of the most essential and effective ways to safeguard your business. It protects your business from the financial consequences resulting from liability related to third-party non-employee bodily injury or third party property damage that arises from your business operations. It also provides coverage for personal and advertising injury. Without general liability insurance coverage, you could be in financial trouble in the event of an unfortunate accident involving a customer or other third party.

Florida professional liability insurance

If you provide professional services and your advice is alleged to have led to one of your clients suffering a financial loss, professional liability insurance can help. When a former customer or client claims—rightly or wrongly—that a mistake in your work led them to suffer a financial loss, professional liability insurance provides you with investigation and defense of the claim as well as making payments of any settlements or judgments.

Inland marine insurance

Inland marine insurance is designed to protect that vital equipment you use to make your business run smoothly. It protects your business by covering costs associated with accidentally damaged, lost or stolen equipment that is on the go with you. Whether you have an expensive tool collection, pricey construction materials, or other equipment you transport to a job site, having inland marine insurance is a no-brainer. At Thimble, we offer inland marine insurance, or Business Equipment Protection as we call it, with coverage for up to $5,000 worth of business property and equipment.

Commercial property insurance

Commercial property insurance protects your company’s building and the contents inside it from all kinds of risks of physical loss or damage, including theft, vandalism, fires and natural disasters such as floods, storms or earthquakes. Commercial property insurance is often included as part of a Business Owners’ Insurance Policy, or BOP.

Professions covered in Florida

No matter what your business is, if you’re in Florida, you’ll benefit from being insured. If a non-employee slips and falls due to a workplace hazard or you accidentally damage a client’s property while working in their home, the last thing you need is to pay out-of-pocket for damages. In Florida, Thimble’s business insurance covers:

Cost of business insurance in Florida

At Thimble, the cost of your small business insurance depends on a variety of factors. The amount of risk involved in your business, the industry you’re in, and the amount of business you do all play a part in determining your policy premium.

Another important factor is your location. Large metro areas like Miami, Orlando and Tampa might have higher premiums on average than a rural community in the Panhandle or Central Florida.

Finally, Thimble will look at factors such as your crew size, coverage amount and the number of years you’ve been in business before determining how much your premium will be.

Median Florida insurance costs

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Top cities for businesses in Florida

  • Fort Lauderdale
  • Fort Myers
  • Gainesville
  • Jacksonville
  • Miami
  • Naples
  • Orlando
  • Sarasota
  • St. Petersburg
  • Tampa
  • Tallahassee

Bottom line: Florida business insurance

There’s no getting around it, if you want to focus on doing what you do best without worrying about surprise expenses, you need to cover your bases. Florida is one of the top states for small business owners, and small business insurance is there to help you thrive and stay profitable.

Even if you’re just starting up, you can find Florida business insurance coverage that’s right for you. Through Thimble, you can get a quote for your general liability insurance, professional liability insurance or Business Equipment Protection in less than a minute and if you decide to buy, you’ll be able to access your policy and Certificates of Insurance (COIs) in your inbox instantly.


  1. Bureau of Economic Analysis: Gross Domestic Product by State, 4th Quarter 2020 and Annual 2020 (Preliminary).