Mobile and Remote Businesses: Do You Still Need Business Insurance?

A physical storefront is not required for your business to face risks. Accidents, property damage, cyber threats and liability claims can affect any business, regardless of location. Business insurance can help you maintain your assets, reputation and financial stability.

Understanding Business Insurance

Business insurance generally refers to a collection of policies designed to help companies handle financial losses that can arise from accidents, lawsuits, property damage or other unexpected events. It can help address risks that could otherwise disrupt or strain a business. In the case of mobile and remote companies, appropriate policies may cover liabilities while working at clients’ locations and equipment while on the move or stored at employees’ homes.

Key Coverages to Consider

Business insurance policies can typically be customized to address your mobile or remote company’s exposures. Your agent may recommend the following inclusions:

• General liability insurance may cover third-party claims of bodily injury or property damage resulting from your business activities. It may also address allegations of personal and advertising injury.
• Professional liability insurance may help prevent financial loss if your business is sued for professional mistakes or missed deadlines.
• Commercial auto insurance may cover the cost of repairing or replacing vehicles used for business purposes, such as traveling between jobs and client locations.
• Commercial property insurance may provide financial protection for business equipment, inventory and technology.
• Inland marine insurance may be necessary if you move property, such as equipment and tools, between locations.
• Cyber liability insurance may help manage the financial impact of data breaches, cyberattacks and other technology-related incidents.

Florida-specific Considerations

Florida’s environment presents additional risks, including hurricanes and flooding. Review your policy for exclusions and consider supplemental coverage if your business could be affected by severe weather or natural disasters.

Get Business Insurance in Lake Worth, FL

The Marvelous Associates Inc. understands the changing needs of Florida’s mobile and remote businesses. Our team collaborates with entrepreneurs and small business owners to pinpoint potential risks and build insurance options that align with their operations, no matter where the work takes place. Contact us today to learn more and to get a custom quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.