When you own a flower shop, you’re obviously concerned about protecting your business. Owning a flower shop means you need to take the necessary precautions to safeguard your inventory, equipment, and livelihood. A flower shop is a service-based business that requires a lot of upfront investment. You have to buy flower shop supplies, pay employees, buy flowers, create unique and custom bouquets and so much more. The more time and money you spend on the business, the more likely you are to lose money. The good news is that you can protect your investment with insurance. In this article, we’ll discuss the importance of flower shop insurance, examples of insurance, and how to choose the right policy for your business.
What is Florist Shop Insurance?
At its most basic level, Flower Shop Insurance is designed to protect your business. It does this by covering you for damages due to fire, flood, or other disasters. Your insurance policy will also cover you for the cost of medical treatment if an employee gets injured on the job.
Why is Insurance Important?
Florists work in an industry that’s ripe for lawsuits and other legal disputes. In fact, according to the National Council of State Garden Clubs, the number of lawsuits against florists has increased over the last few years. What’s more, most small business liability policies won’t cover many common claims related to a flower shop. Even if your policy does cover it, your premiums will skyrocket as you continue to get sued.
For those reasons, it’s important for someone in your florist business to purchase a business owner’s policy that covers both general liability and property insurance. This type of coverage will protect your flower shop from many different scenarios including theft, vandalism and even injuries sustained on your property.
How to Choose the Right Policy for Your Business
When choosing insurance, you want to find a policy that protects your flowers, customers, and employees. For example, if someone gets their dress stained by a bouquet at your store, you want to make sure your insurance policy covers the cost of cleaning it. It’s also important to have an umbrella insurance policy so that if you get sued for negligence or product liability, the costs don’t fall on you personally.
We offer different types of policies that cover different aspects of your business:
- Basic Business Insurance: Covers the cost of repairing or replacing any damaged property in a fire or natural disaster
- Commercial Property Insurance: Covers damage to property during a fire or other natural disaster
- Employees Compensation Insurance: Provides coverage for injuries sustained by employees at work
- Business Interruption Coverage: Provides humanitarian relief when an event occurs that interrupts business operations
Flower shop business insurance helps protect your business against financial loss as a result of damage or theft suffered in the course of your operation. In order to find the right type of policy for your business, it’s important to understand the different types of coverage available.