Florist Business Insurance in IL

Whether you are gathering hundreds of flowers for a client's wedding or putting together a single bouquet for a client's anniversary, great care is taken when curating each of your orders. Given the various risks associated with this industry, a similar level of care should be taken when selecting insurance policies for your floral business. From employee injuries during client events to unsatisfied customers, commercial insurance will allow you to navigate through any unforeseen business disasters confidently

What Insurance do I need as a florist? Although there are several types of insurance coverage to consider, the following policies are particularly relevant for florists.

Commercial Property Insurance:

Exposure to property damage can be high for florists. Coolers, generators, air conditioners, refrigerators, and various other forms of expensive equipment are necessary to maintain your floral stock. Even with great care, your plants and flowers are extremely vulnerable to damage from fire, excessive heat, incorrect water pressure, and deterioration. Your equipment, floral inventory, and your commercial space can be expensive to repair or replace if they're damaged. Commercial property insurance protects the value of your business's property by providing funds for repairs or replacements if your property is damaged or destroyed by a covered peril. Plans typically include coverage for buildings, the contents of those buildings, and any outdoor signage, fencing, or landscaping. Common perils covered by commercial property insurance may include fire, theft, vandalism, windstorm, and water damage

Business Income Insurance

Often, a florist will see an influx of business during a holiday or a particular season. For instance, a florist may reach high sales numbers on Valentine's Day and Mother's Day. As such, if your business must temporarily close during these holidays, you may face significant financial loss.

Business income insurance (also known as business interruption Insurance) provides funds for loss of Income and operating expenses if your florist business must temporarily close to recover from physical loss, damage, or destruction. This includes the business's net profits and normal operating expenses such as rent, employee salaries, and taxes, in order to qualify, the physical loss, damage, or destruction to property must be the direct result of a covered peril, such as fire, lightning, explosion, theft, vandalism, windstorm, and more.

General Liability Insurance

General liability insurance protects your business from accidental third party property damage and bodily injury liability. Your floral shop may allow customers on the premises to browse your flower selection. This creates a third-party liability at risk since customers, vendors, and other third parties are all at risk for slip-and-fall incidents and other accidents. Additionally, your employees may be tasked with settling up your floral arrangement in client locations. If you damage equipment or property at a client venue, you could be held liable.

General liability insurance will cover any legal defense or attorney's fees incurred while defending against covered lawsuits, as well as any medical payments.

Worker's Compensation Insurance

The possibility of employee injury can be high for florists. Employees may get injured from lifting heavy maintenance equipment, experience slip-and-fall injuries while setting up floral arrangements for an event, and even sustain an injury from cutting flowers for a bouquet. As such, workers' compensation insurance is vital for your business.

Worker's compensation insurance covers lost wages, medical expenses, and rehabilitation costs if one of your employees suffers a work-related injury or illness. Additionally, workers' compensation insurance will provide funds for funeral costs and death benefits for surviving family members in the event of a work-related death. Each state has its own regulations, so it is essential to understand your state's workers' comp require.