Can You Afford to Leave Your Business Unprotected?

Owning a business comes with various rewards and benefits, but achieving success isn’t devoid of its associated costs. For business owners, these expenditures manifest in the form of time, effort, and resources required to nurture, expand, manage, and protect your business. Fortunately, service providers like Karla Salmon Insurance are here to help protect the business you’ve worked so hard to build, especially for our Oviedo, FL area clientele.

The High Price of Inadequate Insurance Coverage

Most business owners understand the worth and advantages of comprehensive insurance coverage. However, numerous businesses realize the exorbitant costs of underinsurance and lack of protective coverage every year. This realization highlights that the pertinent question isn’t about having insurance but the appropriate coverage for your business and its assets.

Moreover, it doesn’t require complicated mathematics to understand the intrinsic value of comprehensive commercial insurance. For instance, what would it cost to replace your facility roof damaged by a storm? What would it cost to replenish your inventory lost in a warehouse fire due to an electrical storm? Unquestionably, the true value of a well-crafted commercial insurance plan for your business is undeniable.

Avoid Leaving Your Business Vulnerable

If you’re a business owner in Oviedo, FL, or have questions about your commercial insurance coverage, the proficient and cordial team at Karla Salmon Insurance is here to assist you. Contact us today to learn more about our bespoke services and secure the best protection your business needs.

Four Types of Commercial Property Insurance

Most Oviedo, FL businesses have assets to protect. A few different types of commercial property insurance help protect different assets.

1. Building Coverage

Building coverage is foundational to commercial property insurance. It generally protects the physical structure of the business premises, including walls, roofs, and attached fixtures. 

In Oviedo, FL, where weather conditions can sometimes be harsh, this coverage is vital for safeguarding buildings against storm damage. It normally protects against fire, vandalism, and other risks.

2. Contents Coverage

Contents coverage is designed to protect the items inside the business premises. This could include furniture, equipment, inventory, and other personal property. 

3. Tenants Betterment Coverage

Tenant betterment coverage is for businesses that lease their space. The coverage typically applies to any improvements or customizations made to the leased property. It could insure a range of built-in fixtures, such as cabinets, counters, storage closets, bookcases, plumbing and electricity, and more.

4. Signage Coverage

Signage coverage typically protects against the loss or damage of outdoor signs that are not attached to the building. Given Oviedo’s susceptibility to strong storms, this coverage is crucial for businesses with detached signs.

Make Sure Your Business’s Property is Insured

If you run a business with a building or any other notable assets, we at Karla Salmon Insurance can help ensure those assets are protected well. Our agents here at Karla Salmon Insurance have helped many businesses, large and small, insure their buildings, contents, improvements, and signs. We’ll work closely with you to find a commercial property insurance policy that gives the projections your business needs.

How commercial insurance can help save your small business

All businesses have to deal with risk to stay in business. This is of particular importance to small businesses, which are more vulnerable. Karla Salmon Insurance in Oviedo, FL, is an independent insurance agency that provides an experienced team of insurance professionals to help to answer any questions you may have about commercial insurance. 

Commercial property insurance

Commercial property insurance is particularly vital for small businesses. If your business is destroyed or damaged, you may not have what you need to continue to do business. Commercial insurance can help to replace the things you need to do business. Depending on your type of business, it could mean pipes and tools for a plumber, racks, display cases, a cash register for a store, machinery for a factory or office equipment, and records for an accountant. 

Commercial liability insurance

Being sued is one of the biggest dangers that all businesses face. If you don’t have commercial liability insurance, the cost of a judgment against you and the ensuing legal fees could force you to close your doors forever. It is not worth the risk when commercial insurance is easy to get and affordable. 

Business interruption insurance

Any business will struggle if its source of income is shut off. Small businesses are more vulnerable than large ones to temporary closures. The obligations that your business has are not going to stop just because you have no income. If your business is closed by a covered hazard, business interruption insurance will allow you to pay your bills, rent, payroll, and even salary yourself. 

Contact Karla Salmon Insurance in Oviedo, FL to discuss the commercial insurance your small business could benefit from. Please stop by our office or call us for a no-obligation quote. 

Why is Commercial Insurance Important?

The commercial insurance agents at Karla Salmon Insurance serving the Oviedo, FL area are touting the importance of commercial insurance for business owners. This type of insurance will help protect your business, which is also your livelihood, so this is an essential type of insurance to have in place.

Any Florida company that uses vehicles for business purposes must have commercial vehicle insurance, whether it’s the owner’s personal vehicle or a fleet of vehicles owned by the business.

Commercial Auto Liability

In Florida, commercial insurance is not required, but commercial auto liability insurance must be in place for any vehicles used for business purposes. This includes not only vehicles that have been purchased solely for business use but also any personal vehicles that are used for business. This will help protect your business if you or an employee of your company is involved in an accident.

Commercial Liability Insurance Coverage

Professional commercial liability insurance coverage is not required in Florida, but it is an excellent type of policy to have in place. Also referred to as errors and omissions insurance, this type of insurance can protect you against the cost and the lawsuit that is filed against you for work you’ve done for a client or customer that was not satisfactory. This type of insurance can also assist you in covering the costs of medical bills and possibly lost wages if a customer or visitor to your business is injured on your property.

Commercial Property Insurance

To help you recover any inventory that is lost due to vandalism, a burglary, a natural disaster, or even a fire, you should have commercial property insurance in place.

Contact Karla Salmon Insurance

The agents at Karla Salmon Insurance serving the Oviedo, FL area have the experience and knowledge needed to create the best possible commercial insurance policy for you and your business. Call today to get your policy started!

How to Choose Commercial Insurance in Florida

What Types of Commercial Insurance Are Available in Florida?

A few commercial insurance types are available in Florida, including the following.

  1. Property insurance
  2. Liability insurance
  3. Workers’ compensation insurance
  4. Automobile insurance

How Much Does Commercial Insurance Cost in Florida?

The cost of commercial insurance in Florida will vary, and premium costs depend on the type and amount of coverage you need.

For example, property insurance rates will be based on the replacement value of your property. In contrast, liability insurance rates will be based on the amount of coverage you need and the type of business you operate.

Consequences of Not Having Commercial Insurance in Florida

Suppose you do not have the proper amount of commercial insurance in Florida.

Without commercial insurance to protect your business, you could be held liable for damages or injuries on your property.

Additionally, your business could be sued and forced to pay expensive legal fees. In some cases, your business could even be forced to shut down!

How to Choose Commercial Insurance in Florida

The first step to choosing the best commercial insurance is determining your needed coverage.

Talk to a knowledgeable commercial insurance agency at Karla Salmon Insurance in Oviedo, FL, to learn about the insurance options for your business. Expert insurance agents at Karla Salmon Insurance can provide you with a commercial insurance quote that best suits your needs and budget.

The next steps are to review your policy options and choose your commercial insurance premiums, coverages, and policy add-ons. Once you’ve completed all the necessary steps and your premium payment, your insurance agent can officially activate your commercial insurance policy in Florida!

Get Commercial Insurance in Oviedo, FL

Contact a licensed commercial insurance agent at Karla Salmon Insurance for a free quote!

Commercial Insurance Tips for New Business Owners

Starting a new business is hard work. There are so many things to think about – from the products or services you offer, to the branding and marketing, to the day-to-day operations of your company. And that’s just the beginning. One thing that can be easy to forget in this excitement is ensuring your business is adequately insured. Commercial insurance can provide peace of mind, knowing that you and your company are protected in case of an accident or unexpected event. This post will give you tips on what to look for when purchasing commercial insurance for your new business. Keep reading for more information.

1. Consider the Risks of Your Business

Start by assessing the risks associated with your business. For example, what are the chances of someone being injured on your property? Do you have any equipment or inventory that could be damaged or stolen? Are you providing a service that could result in a lawsuit? Once you’ve identified the risks, you can start looking for policies covering those potential problems.

2. Consider the Size and Scope of Your Business

Another factor to consider when choosing commercial insurance is the size and scope of your business. If you’re a small business with just a few employees, you may not need the same level of coverage as a larger company. On the other hand, if you have a lot of employees or operate in multiple states, you’ll need to ensure your policy covers those risks.

3. Shop Around for the Best Policy

Once you know what you need, it’s time to start shopping around for the best policy. There are a lot of insurance companies out there, so take your time and compare different policies. Ensure you understand what each one covers and how much it will cost. You should also check out the company’s financial stability to make sure they’ll be able to pay out if you need to make a claim.

4. Read the Policy Carefully

Once you’ve found a policy that looks like a good fit, take the time to read it carefully. Make sure you understand all of the coverages and exclusions. You don’t want to be caught off guard if something happens and your policy doesn’t cover it.

5. Review Your Policy Regularly

Your business will change over time, so regularly reviewing your commercial insurance policy is essential. Please ensure the coverage is still appropriate for your business and update it as needed.

Get Commercial Insurance in Oviedo, FL

These are just a few tips to help you start commercial insurance for your new business. For more information or a quote, contact Karla Salmon Insurance today. We’ll be happy to help you find the right policy for your business.

Why should a business owner start their commercial insurance with a business owners’ policy (BOP)?

A BOP provides the four most essential business coverage at a reduced premium. It provides the foundation for most commercial policies. You can obtain a BOP and any of its many possible add-on insurance policy types from Karla Salmon Insurance.

Your Oviedo, FL business needs commercial insurance coverage, and a BOP makes the logical starting place because it provides the four most frequently purchased policy types in one package, and it costs less than if you purchased each policy separately. A BOP contains business interruption, perils, liability, and property damage coverage.

You can add any type of commercial insurance to your BOP. This lets you save money on your overall insurance costs while obtaining the customized policy you need for your business.

The BOP covers the four things that each business has in common. Customizing the coverage afterward covers the things that make your business different. For example, a pizzeria that offers delivery requires commercial auto insurance, while a doctor’s office requires malpractice. A manufacturer of medical devices, such as wheelchairs, leg braces, or IUDs requires errors and omissions insurance. A dry-cleaning business needs inland marine insurance.

The flexibility of the BOP option lets you add any type of commercial insurance to the BOP from boiler insurance to glass insurance. You can create a commercial policy that contains as many or as few types of coverage as you need to do so to adequately protect your business.

Karla Salmon Insurance serving Oviedo, FL can offer you a BOP and any type of insurance you need to add to it. Call us today.

What Exactly Does Commercial Insurance Cover?

If you own a business, you can testify that it didn’t come easy — you invested a lot of time, resources, and effort to bring your dream to fruition. For this reason, Karla Salmon Insurance in Oviedo, FL, cautions you against running your business without commercial insurance.

But what exactly does commercial insurance cover? Here are the areas covered by commercial insurance. 

Cyber protection

If you run an online-based business or store sensitive customer data, your business is susceptible to online malicious activities like hacking. What would you do if online criminals target your business? Commercial insurance can help you cover negotiation fees, legal suits, data restoration, notification costs, and so on.

Protects workers

Anything can happen to your business workers while they are attending to their duties. For example, they can sustain injuries when handling machinery or lifting heavy objects. If the injuries call for medications, you are responsible for their treatment costs.

Such costs can be huge to bear on your own, and that’s where commercial insurance steps in.

Liability protection

Slippery floors or other hazards can cause clients and customers to sustain injuries while on your premises. Besides, your products can harm your customers. When this is the case, ensuing medical bills and legal costs are paid by your commercial insurance and not money from your business coffers. 

Protect your assets

The cost of replacing damaged or stolen business assets such as furniture, buildings, and so on can cause you financial struggles. However, with commercial insurance, your insurer compensates you when a covered peril causes losses or damages to your assets.

Professional liability coverage

If you are in a professional career like accounting, auditing, or legal, you are bound to make mistakes or miss deadlines. When this happens, your clients could sue you for negligence. Fortunately, professional liability insurance pays for legal costs, including attorney fees, when facing a legal suit.

Buy commercial insurance today!

Don’t run a business that’s not insured — one peril is enough to put all your efforts down the drain. Instead, contact Karla Salmon Insurance in Oviedo, FL for a competitive quote. 

Is Commercial Insurance Required for Home-based Business?

Today, the mode of running businesses has changed. Instead of the brick-and-mortar office setting, many businesses are operating from home. Whether it’s with a view of making cost savings or flexibility, home-based businesses are here to stay. But with home-based business ventures, there is confusion when it comes to insurance. Does home insurance protect your business? Do you need commercial insurance? If you are a home-based entrepreneur wondering the kind of insurance you need, stick on as Karla Salmon Insurance of Oviedo, FL, clears the air. 

Does home insurance cover my home-based business?

Home insurance is designed to protect your home and other assets from damage or loss from perils like theft, fire, hurricanes, and many more. Although your home insurance has personal belongings coverage, this may cover your home-based assets for a limited amount. 

Furthermore, while your home insurance may have liability coverage, this won’t cover any liabilities related to your business operations. For instance, if a supplier falls and breaks their leg when making a delivery to your home-based business, home insurance won’t cover the medical expenses. So what’s next?

Commercial insurance for home-based businesses

Given the shortcomings of home insurance for your home-based business, home-based entrepreneurs need to consider commercial insurance for broad coverage. Here are commercial insurance options you should consider for your home-based business. 

  • Business liability coverage: Covers you against advertising injury, property damage, and bodily injury sustained to others. If third parties visit your business, you must consider this coverage. 
  • Commercial property insurance: Do you have significant assets for your business? If the value of your assets is above, let say, $2,500, you must purchase commercial property insurance to protect your assets. 
  • Professional liability: If you offer consultancy services, like accounting or legal, this coverage protects you against missed deadlines and alleged negligence. 
  • Cyber liability insurance: If your business has any online presence, this coverage protects you against malicious online activities. 

Would you like to cover your Oviedo, FL, home-based business? Please contact Karla Salmon Insurance to discuss your commercial insurance needs. 

How does commercial insurance protect someone in Oviedo?

The Oviedo, FL area continues to be a great place to live and work. For those that are familiar with the area, it is also a great place to start a business. As you are looking to establish a company here, you also need to get proper insurance. There are a few reasons why you should get a commercial insurance plan when in this area of Florida. 

Insurance Gives Protection for Liability

A reason that you should get a commercial insurance plan for your business is that it can offer you protection against liability risk. Anyone that would like to start a business is going to take on liability risk as you are ultimately responsible if your product or service causes harm to someone. With a commercial insurance plan, you are going to receive the coverage necessary to mitigate your liability risk.

Insurance Protects Company Assets

A business owner should also get a commercial insurance plan because it can protect all of their business assets. If you choose to invest in assets for your business, you will want to know that they are well protected. With a commercial insurance plan, you can receive coverage to repair or replace a variety of assets including inventory, major equipment or other valuable assets owned by your company.

Those that are going to start a company in the Oviedo, FL area need to get a commercial insurance plan. When you choose to get commercial insurance coverage here, it would be helpful to call Karla Salmon Insurance. The team with Karla Salmon Insurance understands the importance of getting the proper coverage for your business. When you speak with the team here, they can help give you the support that you need to build and choose a new plan for your organization.