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BUSINESS OWNER

Insurance for Business Owners

Steve Turner
Insurance Agent & Broker
Serving Pinellas County, Fl

What Types of Insurance Does a Business Owner Need?

The types of insurance a business owner needs depend on the business’s size, industry, and operations:

  • Commercial property insurance: This insurance is not required by law but is essential for most small business owners. It protects against the cost of repairing or replacing business property damaged by vandalism, severe wind, or other problems.
  • Workers’ compensation insurance: This insurance is legally required for most business owners who have employees. It protects the business from lawsuits related to injured or ill employees on the job.
  • General liability insurance: Protects against lawsuits from people outside the business who claim that the company caused bodily injury, property damage, or harm to their reputation.
  • Cyber insurance: This insurance protects against the costs of cyberattacks and data breaches, including hacking, ransomware, and credit monitoring for affected customers.
  • Umbrella insurance: This insurance covers everything that other insurance policies leave out. It’s important to avoid creditors seizing assets and garnishing wages when other policies can’t cover settlements.
  • Business income insurance: This insurance is important for many businesses, including brick-and-mortar businesses and businesses with remote workforces.
  • Commercial auto policy: This insurance is recommended if the business owns vehicles or employees operate vehicles on behalf of the company. 

How I Can Help You

BUSINESS INSURANCE

Commercial insurance can protect you from some of the most common losses experienced by business owners, such as:

  • Property Damage
  • Business Interruption
  • Theft
  • Worker Injury
  • … and Much More!

KEY PERSON INSURANCE

“Key Person” insurance is a life insurance policy that a company purchases for an owner, a top executive, or another individual critical to the business.

BOP

A business owner’s policy (BOP) is a package that bundles basic insurance coverages and is sold at a premium. A BOP protects business owners against property damage, peril, business interruption, and liability.

  • Property Damage Protection
  • Business Interruption
  • Liability
  • … and Much More!

BUSINESS OWNER FAQ

A business owner insurance policy covers a wide range of risks, such as those that arise from claims and lawsuits, and it protects the physical components of your business, such as inventory, equipment, and the building. This covers situations such as fire, theft, vandalism, and bodily injury.

When you’re starting your own business, some types of coverage you should make sure to have are: General liability insurance. Professional liability insurance. Workers’ compensation insurance.

Commercial General Liability (CGL) is the standard commercial liability policy used to insure businesses. Three primary coverage sections comprise a CGL policy: premises liability, product liability, and completed operations.

Business insurance can cover many things, including workplace accidents, liability claims, theft, fire, legal fees, document loss, and business interruption.

BOPs do NOT cover professional liability, auto insurance, worker’s compensation, or health and disability insurance. You’ll need separate insurance policies to cover professional services, vehicles, and your employees.

Essentially, the key difference between a business owner’s policy vs. commercial general liability is that a BOP helps pay for a wider variety of possible accidents and risks that a business is exposed to. Compare commercial property insurance to a BOP.

On average, an insurance policy that offers coverage for up to $2 million can cost about $30 a month in premiums.

The IRS generally considers business insurance a cost of doing business, so your policy premiums may be deductible from your taxable income. A tax professional can ensure you fill out the proper paperwork to ensure you are taking advantage of all deductions available to you.

While commercial property pays for actual physical damages or losses, business interruption insurance covers lost net income due to the closure of the business while repairs are underway. These policies may cover rent or lease payments, relocation costs, employee wages, taxes, and loan payments.

  • General Liability Insurance (GLI).
  • Commercial Property Insurance.
  • Business Income Insurance.
  • Professional Liability Insurance.
  • Workers’ Compensation Insurance.
  • Data Breach Insurance.
  • Commercial Umbrella Insurance.
  • Commercial Auto Insurance.

WHAT ME CLIENTS SAY ABOUT ME
Pinellas County, Florida

INSURANCE OFFERINGS
Pinellas County, Florida

HEALTH INSURANCE

HEALTH INSURANCE
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MEDICARE ADVANTAGE

MEDICARE ADVANTAGE
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MEDICARE SUPPLEMENT

MEDICARE SUPPLEMENT
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PRESCRIPTION DRUGS

PRESCRIPTION DRUG PLANS
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LIFE INSURANCE

LIFE INSURANCE
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DISABILITY INSURANCE

DISABILITY INSURANCE
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DENTAL INSURANCE

DENTAL INSURANCE
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GROUP HEALTH INSURANCE

GROUP HEALTH
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ACCIDENT INSURANCE

ACCIDENT INSURANCE
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CONTACT + SOCIAL

I’m here to take your calls and emails and answer your questions 7 Days a week from 7:00 a.m. to 8:00 p.m., excluding posted holidays.

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7-DAYS | 7AM – 8PM
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EMAIL ME: 24×7


OFFICE LOCATION

STEVE TURNER INSURANCE SPECIALIST

STEVE TURNER REBC®

14502 N DALE MABRY HWY

SUITE 200

TAMPA, FL 33618

Website: steveturnerinsurancespecialist.com

Email: [email protected]

Phone and Text: +1.813.388.8373

Business Hours:

Monday: 7 am to 8 pm

Tuesday: 7 am to 8 pm

Wednesday: 7 am to 8 pm

Thursday: 7 am to 8 pm

Friday: 7 am to 8 pm

Saturday: 7 am to 8 pm

Sunday: 7 am to 8 pm

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