Tag Archives: Florida Business Insurance

11 Importance of Retail Store Insurance: How to Find the BEST Insurance Policy?

Florida Business Insurance

Do you own a retail store or shop of your own? Then you must have a retail store insurance for that too. If you do not have, then you need to work on it fast. There are so many risks that your retail store can go through. In order to protect your store from all those risks and dangers, you must have a proper insurance coverage for the store. It is always better to work on improving your business more and more. The insurance policy for a retail store acts like a risk management tool to cover the losses and damages caused. By paying relatively smaller amount as premium to the insurance company, you can protect your retail store against a significant financial loss and the possibility of the store going bankrupt.

Protect your store

Your store is your livelihood. Don't leave its protection to chance.

What Are The Major Risks Faced By Retail Store?

Owning a retail store is a great thing but with that comes bigger responsibilities too. Of course, your retail store is open to many customers and also there are some employees who work over there. Hence, there are also some risks associated with this. It can be man-made as well as natural too. Some of the common risks that a retail store may face are:

  • Physical damages by nature: This can happen anytime and anywhere due to many reasons. Specially In Florida where hurricanes historically affect the state every year.
  • Man-made damages: There can be a huge risk of fire damage in your retail store which can cause significant destruction. Of course vandalism and theft are a huge problems for retail stores. Theft cost retailers $32 billion a year.
  • Bodily injuries: Accidents can happen anywhere and anytime, be it customer or employee. If any of your customers get injured while visiting the store, the business may have to pay for the medical treatment.
  • Sleep and Fall claims file against retailers are on the increase. Not only it can very costly to settle with the client but the cost of hiring a competent attorney is about $75,000.

In order to cover all these risks, there are some insurance policies especially for retail store. These policies can provide coverage for all the losses and damages caused by the risks mentioned above. Simply put a $50,000 or $100,000 loss will put many retail stores out of business. You cant risk your business and the lively hood of your family by choosing not to purchase this protection.

How Costly Can These Risks Be For Your Business?

One of the most important steps to avoid these losses is to have a proper retail store insurance policy that will cover all the probable damages that can be caused to your store. Simply put a $50,000 or $100,000 loss will put many retail stores out of business. You can't risk your business and the lively hood of your family by choosing not to purchase this protection.

Steps To Lower Your Insurance Premium

The insurance premium for retail stores does not have to be expensive. When you talk to an commercial insurance agent at L and C insurance provider we go through steps to help and lower your premium. Here are some of the essential steps for you to take in order to save you money

  1. Remove unneeded or overlapping coverage.
    Make sure the coverage is up to date. There are often some unneeded coverages included in the policy which are not needed but still it adds to the premium.  All retail stores are not the same, coverage should be tailor to your specific needs.
  2. Research to find the best deal.
    There are many insurance companies in the market that provides the best insurance policy at a much lower rate than others. Of course, you have to do a bit of researches before you end up with them.  Let us at L and C insurance help on that research by obtaining 14 Different store insurance quotes.  We only work with Rated A+ insurance companies
  3. Ask for a list of the discounts.
    Often when you talk with the agent, you can ask for discounts. These discounts can help you to reduce your insurance premium. But are you reviewing the quote provided to make sure the discounts are listed. There are 10 major discounts available to retail stores. Make sure that all of the ones applicable to your store are included.
  4. Pay the entire premium upfront.
    Generally the premiums for the insurance are paid monthly. But if you pay your entire premium upfront, then you can get savings on average of 20%. This can be a great benefit for you to lower your insurance premium for the retail store.

Insurance is one of the things people think they can do without... Until they need it. Don't make the mistake of underestimating the cost of poor or even worse, no insurance coverage. At LNC Insurance Providers, we specialize in providing tailor made services to customers throughout Florida.

We pride ourselves in excellence and always go the extra step. Whether you need a personal insurance or protection for your place of business, we want to help.


Thus, it is evident that having a retail store insurance is very much important for your business. Weather, crime and accidents cannot be predicted and thus damages can happen anytime. You can at least be at complete peace of mind if you know that your retail store is completely insured. So, make sure to take a quick action and let the agents at L and C insurance help you save time and money on your store insurance.

11 Restaurant Insurance for Florida Businesses

Florida Restaurant Business Insurance

Owning and operating a dining establishment in Florida, usually requires plenty of work. Many elements need to come together in order for a restaurant to succeed. If you think about it, a stocked freezer and pantry and ensuring that there are sufficient tables in the dining area are only the basic principles of operating this sort of business. Your foremost concern as a restaurateur should be the proper protection of your business. Regardless of whether you're just about to venture into the food and beverage industry or have already been established, restaurant insurance Florida is something you will need.

What is restaurant insurance Florida?

Generally, restaurant insurance is a kind of business insurance catering particularly to the ones in the food and beverage industry. Regardless of the size of your company, there are always a number of possible risks. This is true whether you operate a small diner or coffee shop, or a Michelin-starred bistro. This coverage is coverage against a number of problems, which can include but aren't restricted to busted equipment, accidents, and even liability lawsuits. Generally, this type of cover isn't your typical general business insurance. It has many aspects that tailor to the demands of a restaurant. This means this type of restaurant business insurance is available in different types. The following are some of the insurance coverage policies under Restaurant Insurance Florida.

Protect your restaurant

You'be worked too hard to lose it all because you don't have insurance for your restaurant


If you serve beverages or food your insurance needs are different than standard merchant businesses. Here are some of the businesses this includes:

  • Restaurants
  • Hotels
  • Motels
  • Cafes
  • Bars
  • Inns
  • Dance clubs and night clubs
  • Resorts
  • Sandwich shops
  • Restaurant/gas station combos
  • Casinos
  • Portable or mobile lunch services
  • Catering companies


if you want to properly insure your food service business, you'll want to consider these insurance options:

  • General liability insurance
  • Commercial property coverage
  • Workman compensation
  • Product liability - food or beverage items can sometimes cause illness and you will be liable.
  • Building contents - this can include furnishings and customer possessions


Your insurance professional may recommend the following options for your food service policy:

  • Liquor liability coverage - do you plan to serve alcoholic beverages to customers? If someone gets into a traffic accident after drinking alcohol at your establishment, you might be sued for damages. Liquor liability covers problems like these.
  • Business interruption coverage - Reimburses lost income due to downtime associated with a damage or loss claim.
  • Employee health insurance coverage
  • Replacement cost insurance - if your business is destroyed by a catastrophe, your insurance may pay you the fair market value of the place. However, this can be a huge problem because it may cost much more than that to rebuild. This is why replacement cost is the best food service insurance option.
  • Earthquake insurance
  • Fire liability insurance - what will you do if a fire starts in the kitchen and spreads to other buildings? Fire liability protects you from these legal problems.
  • Fine art coverage
  • Equipment breakdown insurance
  • Flood coverage
  • Sewer backup insurance
  • Food spoilage
  • Sign insurance
  • Cyber insurance - protects you from problems associated with stolen data.

General Liability

This is the most common of the many different covers encompassing this type of insurance coverage. It's a policy that protects you from common problems occurring within your line of work. This could consist of situations such as someone slipping and falling because of wet floors, food poisoning issues, as well as other claims which may come from different sources. This policy will be handy considering the fact that customers sue for almost anything nowadays. Plan options vary depending on provider, but keep in mind that this should be one of the more flexible policies:

Commercial property coverage

Purchasing your restaurant space is a big investment. You can save money on rent. You will also be in full control of your work area and determine any changes you require. Getting cover policy for your place of business safeguards you from unexpected events like a fire or natural calamities. You won't have to worry about this if you're only leasing a unit, or if you do not own the structure where your restaurant is. The owners are going to have acquired this insurance already.

Equipment Breakdown coverage

This form of restaurant insurance is vital as you use lots of pricey equipment in your restaurant. Blast freezers, state-of-the-art ovens, and other cooking equipment cost you a lot of money. The manufacturer's warranty you get is limited, therefore it is not enough. You should safeguard these investments by obtaining insurance. Your cover provider will reimburse you if there is theft or damage due to accident or natural disaster. This policy covers not only your appliances but other fittings inside your establishment that the building insurance will not cover.

Liquor Liability

If your business sells, serves, or allows any alcoholic beverages to be consumed at your establishment, Liquor Liability protects you should your clients or patrons sue your business for damages related to their intoxication

Workman Compensation

The law mandates you to provide insurance for your employees. This is particularly essential for restaurant owners because your people deal with fire and gas each day. Your workers are your most vital investment, and you must safeguard their lives and their health. Your insurance company might cover any expenses if your employees suffer from an accident in your establishment.

Food spoilage

Cleanliness is a must for every restaurant kitchen, but you can't say for sure when something unexpected could get in your food. Insurance providers can take care of damages and legal costs in the unfortunate event that a customer complains about food contamination. It's best to be ready for all kinds of events than to be sorry and shell out a significant amount of money later on.

Vehicle Liability

Generally, there are many restaurants that have restaurant cars that make deliveries. if you have a vehicle for your restaurant, for transport or delivery, make sure that it is insured.

Business Interruption Coverage

This type of insurance coverage helps you when there is an interruption in a major operation of the business or company. It may be a loss of income as a result of disasters or damages. Such case can affect your cash flow and profit ultimately. Business interruption coverage protects you from these situations and gives peace of mind that operations and income is in a good continuous flow.

Getting the Best Restaurant and Bar Insurance In Florida

Usually, without coverage, it is too risky in running a restaurant. This is because it involves various types of risks. The risks involved are not only intensive but also numerous. If these short-term or unexpected risks are not handled properly, they will have a deteriorating effect on the business in the long run. Not having any insurance coverage as it might prove fatal. However, in order to get a restaurant insurance, you have to find a competent insurance company for you to choose the insurance policy your business needs.

If you want to make sure your business is fully protected, talk to our commercial insurance agents at L and C Insurance Providers. We will evaluate your risks factors and provide you with and policy that fits your budget and needs. We do this by comparing the different policy options with our 25 + partnered insurance companies.