In Florida, employers are not required to purchase coverage for every aspect of running a business. However, certain types of insurance are state-mandated. For example, Florida businesses with four or more employees are required to provide workers’ compensation coverage. In the construction industry, coverage is required for even one employee, including the business owner. If your business uses vehicles for commercial purposes, you are also required to purchase commercial automobile insurance.
If you are involved in a profession that is susceptible to lawsuits, you may want to consider policies such as general liability insurance and professional liability insurance, also called errors and omissions insurance. Finally, to protect your business property from theft and damage, consider commercial property insurance.