Best Small Business Insurance in Florida

ERGO 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: Business insurance costs vary sharply by region due to Florida’s litigation patterns. Palm Beach, Broward, and Miami-Dade counties record the highest volume of litigated claims, with Seminole, Orange, Lake and Osceola counties following close behind. Insurers spent $1.5 billion on legal and adjustment expenses for 2022 claims alone. Businesses operating in these high-litigation areas pay higher premiums than those in North Florida or rural parts of the state.
• Assignment of Benefits Crisis and 2023 Reform: Florida’s Assignment of Benefits issues pushed statewide lawsuits from 405 in 2006 to 28,200 by 2016, driving up commercial property insurance costs. Policies issued after January 1, 2023 no longer allow post-loss benefit assignments, cutting off contractor-driven litigation for newer properties. Businesses with policies written before 2023 still carry AOB-related cost pressure, while newer policies reflect rate relief tied to the reform.
• Hurricane Exposure and Annual Rate Increases: Storm risk continues to shape Florida’s commercial property market. Citizens purchased $3.56 billion in reinsurance for 2024, while commercial property rates rose 13% in March 2024 and will phase into 15% annual caps by 2026. Hurricane Ian fell within a 1-in-20 to 1-in-25 year event range. Coastal businesses in Tampa Bay, Miami-Dade, and the Panhandle see the highest premiums due to wind and storm surge exposure.
• 2023 Tort Reform Reducing Liability Costs: Florida’s 2023 tort reform under HB 837 shortened the general negligence statute of limitations from four years to two and adopted modified comparative negligence rules. Plaintiffs found more than 50% at fault can no longer recover damages. The reform also removed one-way attorney fee provisions that favored plaintiffs in insurance disputes. These changes ease liability insurance costs, though insurers expect pricing adjustments to unfold over the next 12 to 24 months.
• Industry-Specific Workers' Compensation Thresholds: Workers’ compensation requirements depend on industry type. Construction businesses must carry coverage once they hire a single employee. Non-construction businesses do not need coverage until they reach four employees, while agricultural operations face requirements at six regular workers or 12 seasonal workers employed for more than 30 days. Construction firms absorb workers’ compensation costs immediately, while retail and service businesses delay that expense until staffing levels increase.

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.

ERGO 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.