Best Small Business Insurance in Florida

NEXT leads Florida business insurance with top-ranked customer service, affordable rates and strong coverage options. The Hartford and Simply Business are also solid choices for business owners throughout the Sunshine State.

Note: This data represents a small business with 2 employees, $150,000 in payroll and $300,000 in annual revenue. All scores were calculated for four of the most common coverage types in the industry across 79 industries in the United States.

Business insurance costs in Florida vary widely, with monthly premiums ranging from $80 for workers' compensation to $160 for a business owner's policy. Industry and risk factors drive these price differences. Below you can compare average rates for the four most common business insurance types in the Sunshine State:

We found average business insurance costs for Florida companies for commonly needed coverage are as follows:

• General Liability Cost: $112 monthly or $1,345 annually
• Workers' Comp Cost: $80 per month or $955 per year
• Professional Liability (E&O) Cost: $84 per month or $1,009 annually
• Business Owners Policy (BOP) Cost: $160 monthly or $1,916 annually

Note: We analyzed rates for your two-employee business across 79 industries, focusing on general liability, professional liability, workers' compensation and business owner's policies. Our Florida research covers the companies we surveyed and won't include every rate available to your specific business.

Business insurance costs in the Sunshine State range dramatically from $77 to $17,416 annually, with pricing determined by your specific industry and chosen coverage types. Compare Florida commercial insurance costs for your desired coverage type and industry below.

Note: We analyzed rates for your two-employee business across 79 industries, focusing on general liability, professional liability, workers' compensation and business owner's policies. Our Florida research covers the companies we surveyed and won't include every rate available to your specific business.

Multiple business insurance cost variables in Florida shape your premium:

• South Florida Litigation Concentration: Florida's litigation patterns create stark regional cost differences for business insurance. The tri-county area of Palm Beach, Broward and Miami-Dade leads the state in litigated claims, with Central Florida's Seminole, Orange, Lake and Osceola counties ranking second. Insurers paid $1.5 billion in legal and adjustment expenses for 2022 claims alone—businesses in these high-litigation counties pay higher premiums than those in North Florida or rural areas.
• Assignment of Benefits Crisis and 2023 Reform: Florida's Assignment of Benefits crisis drove lawsuits from 405 statewide in 2006 to 28,200 by 2016, inflating property insurance costs dramatically. Policies issued after January 1, 2023 eliminate post-loss benefit assignments, ending contractor-driven litigation for newer commercial properties. Businesses with older policies still experience AOB-related premium increases, while those purchasing coverage after 2023 benefit from reform-driven rate reductions.
• Hurricane Exposure and Annual Rate Increases: Hurricane exposure dominates Florida's commercial property insurance market. Citizens purchased $3.56 billion in reinsurance for 2024, while commercial property rates increased 13% in March 2024 and will reach 15% annual caps by 2026. Hurricane Ian represented a 1-in-20 to 1-in-25 year event. Coastal businesses in Tampa Bay, Miami-Dade and the Panhandle pay the steepest premiums due to storm surge and wind exposure.
• 2023 Tort Reform Reducing Liability Costs: Florida's 2023 tort reform through HB 837 reduced the general negligence statute of limitations from four years to two years and shifted to modified comparative negligence, where plaintiffs over 50% at fault cannot recover damages. The law eliminated one-way attorney fee provisions that automatically awarded plaintiffs fees against insurers. These changes reduce liability insurance costs, though businesses should expect gradual premium decreases as insurers adjust pricing models over 12 to 24 months.
• Industry-Specific Workers' Compensation Thresholds: Florida mandates workers' compensation coverage at different thresholds by industry: construction businesses need coverage with just one employee, while non-construction businesses don't require it until four employees, and agricultural operations at six regular or 12 seasonal workers (30+ days). Construction businesses pay workers' compensation costs from hiring their first employee, creating immediate expenses that retail or service businesses defer until reaching four employees.

Compare rates from multiple Florida business insurers to find coverage that fits your needs and budget. Use MoneyGeek's quote tool below to connect with providers offering competitive rates for your industry.

Florida mandates business insurance coverage based on industry type, employee count and vehicle weight. Workers' compensation insurance, reemployment tax, commercial auto coverage and physician professional liability represent the state's core legal requirements, while alcohol manufacturers, tobacco distributors and contractors face additional surety bond mandates for licensing.

Business insurance in Florida has heavier regulation, but you still can have flexibility to choose coverage that fits your specific needs. We've analyzed what works best for the major industries driving the Sunshine State's economy.

Getting business insurance in Florida means preparing for hurricane closures during peak tourist months, construction delays from sinkholes and aggressive litigation in South Florida. Follow these steps to find coverage that handles Florida's unique challenges without overpaying.

NEXT ranks first in Florida for customer service, The Hartford offers the lowest rates and Simply Business provides the broadest coverage. Choose based on whether you prioritize fast digital certificates, budget savings or specialized industry protection, then compare quotes and stack discounts.

Small business owners across the Sunshine State face countless decisions when selecting business insurance coverage. We answer your most common questions below:

Small business owners in Florida need reliable coverage that protects their operations without breaking their budgets. We designed our methodology to help Florida entrepreneurs navigate challenges like hurricane risks and the state's optional workers' compensation laws.

We studied thousands of quotes from 79 industries across four coverage types for a two-employee firm with $300,000 annual revenue and $150,000 payroll. All policies included $1 million per occurrence and $2 million total per year, with BOPs adding $5,000 business property coverage.

• Affordability (50% of score): We compared company rates across all coverage types to identify the most cost-effective options for small businesses that need comprehensive financial protection without overpaying.
• Customer experience (30% of score): We analyzed J.D. Power satisfaction ratings, NAIC complaint data, online review sites and independent agency feedback to assess real-world service quality when you need claims handled quickly.
• Coverage options (15% of score): We evaluated the breadth of coverage types, policy limits and add-on options available to accommodate growing businesses and Florida's diverse industry needs.
• Financial strength (5% of score): We reviewed AM Best ratings, Moody's assessments and company financial reports to ensure insurers can reliably pay claims, especially important given Florida's frequent weather disasters.

This approach helps Florida small business owners compare insurers on what matters most: affordable premiums, reliable service, adequate coverage and financial stability.