6 Reasons Why Florists Need Insurance to Cover Their Businesses
6 Reasons Why Florists Business Needs Insurance Cover
The flower industry handles highly perishable products and therefore insurance is very important. Here are six reasons why florists business needs insurance coverage.
As with any other type of business, your florist business needs the proper insurance to protect itself. The products that you offer your clients and customers are beautiful, delicate, and highly perishable. You must do what's needed to insure these items in case of several different types of damage.
You wouldn't imagine finding many troubles inside a florist shop, but it's a business none the less and requires just as much insurance as any other type of business. Not only do you need to protect yourself, your business, and the items inside of it, but you need to protect your employees and clients as well.
If you're debating about insurance for your business, what type of coverage you need, or if it's even essential, then you'll want to continue reading below. Here's everything you need to know about why you need insurance for your new florist business!
1. Commercial Vehicle Issues
As a florist business owner, you most likely have a few or at least one commercial vehicle. You rely on this vehicle to transport all of your stunning flowers to different events. These events could be weddings, baby showers, or something else.
Either way, your commercial vehicles play a major role in getting your clients what they need. If something were to happen with your vehicle during delivery, you have to start thinking about how it'll affect your customer. When a vehicle breaks down, it causes you to be late on delivery or stops you from delivering altogether.
This is where professional liability insurance comes into play. This type of insurance will protect you in situations where an error or issue has occurred on your end that causes the customer to lose money or not get what they paid for.
2. Employee Injuries
You need professional and honest employees to help run your business. There are many tasks that your employees or one assistant might need to complete each day. Some of these tasks involve handling sharp tools for trimming and cutting trees, stems, and branches.
If any employee or assistant were to accidentally cut themselves with one of these sharp tools, then you'll need Workers' Compensation to help cover the accident. If the cut is bad enough, he or she might need to seek medical attention immediately.
Hospital bills, rehabilitation costs, and time missed from work will all be covered with your insurance.
3. Shop Damages
You can keep up with proper maintenance, but you never know when shops damages can happen that are out of your control. This is especially true when your shop is located inside a plaza. A fire can break out in your shop or a neighboring business that causes quick and unrepairable damages.
A leak in a ceiling pipe can flood your store, leaving the entire shop a mess. Whatever the case may be, you need property insurance to have your back. This type of insurance will help you cover the cost of damaged items.
You might even want to consider purchasing optional business interruption coverage, which will help cover finances until you're able to get your shop back up and running again.
4. Slips and Falls in the Shop
You always have your customers' safety in mind, but there are times when you're not as on top of things as you normally are. Because you operate a florist business, you most likely deal with a lot of water in your shop. Your beautiful flowers require water to stay fresh and healthy.
With all of this water in the shop, you run a high risk of slips and falls. Water can drip from flower vases unnoticed or there might be a leak coming from your refrigerator. If you're not able to clean up the spill quickly enough, a customer might come in and slip.
Any injuries that they suffer from may be your responsibility. When you're responsible for an accident, general liability coverage will help with medical bills, damages, and possible court costs.
5. Data Compromises
One type of shop damage that you might not think of when owning a florist business is data compromises. Even small businesses rely on computer systems to function. Think about how much information is stored within your system.
You could have your own information and your employees' information as well as your clients' information. If a data breach happens, insurance could help protect you. Unfortunately, many hackers are targeting small businesses, so it might be essential that you look into data compromise coverage.
This helps to ensure your protection if data is lost or stolen.
6. A Client Is Unhappy
You work hard each and every day to provide your clients and customers with the best service possible. Unfortunately, you can't please everyone and there might be a time when a client is unhappy with your services or products.
Some things are out of your control, such as not having a certain type of flower in stock for a client's event. When this situation happens, or something similar, your client might try to sue you. If a client sues you and you go to court, you'll want to have professional liability insurance.
This type of insurance could help keep you from piling up legal fees throughout the court process.
Your Florist Shop Needs Insurance!
Does your florist shop need insurance? Take into consideration these benefits of having insurance for your florist business and then take the steps necessary to purchase a policy.
To protect yourself, your business, your employees, and your clients, be sure to request an insurance quote today!