Flower Shop Insurance & Florist Liability Insurance

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If you’re trying to do something nice for your significant other, what can beat a bottle of champagne from a fancy liquor store and a new piece of jewelry? No romantic gift would be complete without flowers. Flowers will never get outdated , and this is why a flower shop will always thrive no matter how nil sales may be. 

When you’re in the business of selling flowers, the last thing you want is a  bad day to ruin your dream of running a bustling and lively flower store. The best way to make sure that this doesn’t happen is by having the proper coverage. 

We’ll explore the different types of insurance that are available to florists as well as how much your insurance will end up costing you (including a breakdown of the average cost). We’re also going to take a look at three of the best insurance companies for florists.

Florist Liability Insurance

Liability insurance for florists is one of the more popular types of coverage that you’ll come across because it protects flower shops from one of the most common threats - litigation. Far too many businesses fall prey to this, and getting florist liability insurance is one of the most crucial  steps to keeping yourself protected.

For example, if someone ends up coming after you for medical expenses because your flower shop was found liable for their injuries, a liability insurance policy will pay out on your behalf. This can be due to something that’s almost entirely out of your control,  allergic reactions caused by flowers displayed outside. 

However, bodily injury isn’t the only thing that you’re protected from when you get yourself a liability insurance policy. Property damage is yet another component of your florist liability policy. For example, if someone accidentally upends one of your flowers into an expensive piece of clothing, your insurance will cover the damage.

Keep in mind that there is more than one kind of liability insurance, though there are two types of more popular coverage because of the broad protection they provide for risks. The first is general liability, which applies to everyone concerned with your business. 

General liability insurance is a little more expensive than the other option, which is public liability insurance. Public liability coverage will protect you from damages coming from members of the public. This can range from people who are walking by your business on the street to clients who step through the door.

However, with a public liability policy, you won’t be protected when your employees come after you, so keep that in mind. Opting for the cheapest insurance for florists may save you money up front, but you’ll have to carefully weigh the odds of this happening.

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Florist Business Insurance

If you like the sound of a liability insurance policy but you also want to get your hands on another form of coverage for your flower business, then you may prefer to opt for a business owner policy (BOP). These policies essentially bundle multiple forms of coverage together.

The advantage of bundling your insurance together is that you’ll pay less for it than you would if you got your hands on that insurance individually. This is because you’re securing more business for an insurance company and giving them more of your money at once. This makes them want to create an incentive for you.

Most business owner policies feature a few different components, but the two most common ones are commercial property insurance and liability coverage. Commercial property insurance insures the property where your business is located, so you’ll be able to pay for any damage that is done to your store.

As for liability insurance, there is no uniform type of liability cover that is included with BOPs. Some of them may come with a public liability policy while others will come packaged with a general liability insurance policy. This is usually based on the overall cost of the BOP itself.

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Flower Shop Insurance Cost

Flower shop insurance doesn’t have a universal cost because every client is different, meaning that they bring a different level of risk to the carrier’s table. Insurance is a business that exists solely because of risk, and insurance carriers are masters of determining the degree of risks your business faces.

While flower shops aren’t necessarily the riskiest kinds of businesses to insure, there are a couple of aspects that the insurance company will take a look at before they give you a quote. First, they’ll take a look at the history of the policyholder themselves, which is likely going to be you.

They’re going to see how many times you’ve filed a claim in the past to figure out if you’re likely to keep filing claims. In the eyes of an insurance company, filing claims too frequently means that your business likely has more problems than you’re letting on, even if they can’t find an issue themselves.

Another major thing that insurance companies consider when determining the cost of your insurance is the size of your business. A smaller business won’t have as many customers which means that there’s a smaller risk of something going wrong and the insurer needing to pay out on your behalf.

The opposite is true with larger businesses. If you have more clients that you’re dealing with on a daily basis, then it may be pretty likely that you’re going to file a claim at some point or another. We’ve gathered the following numbers using a medium-sized flower shop that has a clean sheet when it comes to their history:

CompanyCost per monthCost per year
The Hartford$30$360
State Farm$28$336
Average Cost$72.33$868

As you can see from the numbers in the table, the average cost of insurance for a flower shop is just over $72.33 a month and $868  a year. Keep in mind that this is just an average.

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Get all the best quotes from leading providers in a click of a button!

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Best Flower Shop Insurance Companies 

It’s crucial that you pick the right insurance company to work with when you’re getting your flower store insured. You want to be sure that your insurance company has enough financial backing to cover their obligations if something goes wrong, but there’s more to it than just that.

Picking out the right company will also ensure that you get access to the best customer service available and a quicker claims response time. When you’re on the hook for a large sum of cash, every moment you have to wait for your claim to process is likely going to have you sweating bullets, after all.

The Hartford Flower Shop Insurance

The Hartford is one of the oldest insurance companies in America, being founded in the early 1800s in Hartford, Connecticut. The company is known for its distinctive red logo which features a stag, an animal which is also featured on the city’s coat of arms.

The Hartford Insurance Policy Details

The Hartford offers specific insurance policies for flower shops that most commonly include the following types of coverage: general liability, commercial auto, commercial property, and workers’ comp. They also offer BOPs that combine general liability insurance and commercial property coverage.

  • Exceptional commercial property policy
  • Transparent quotation
  • Offers resources to help you make a decision
  • Quickness of claims processing have to be taken with a grain of salt

Average cost: $30

Best for: Flower shop commercial property nsurance coverage

Our rating: 5/5

AmTrust Flower Shop Insurance

AmTrust is an insurance carrier from New York City that mainly specializes in providing experience to small businesses, and flower shops fall under that umbrella. The company has an rating of A- (Excellent) from AM Best, and the business has been in operation since its founding in 1998.

AmTrust Policy Details

AmTrust has a somewhat more limited selection of coverage types than the competition but they make up for it in their degree of specialization. The company offers BOPs that combine liability and property coverage and they also have workers’ comp and cyber liability coverage.

  • Experienced in the small business insurance industry
  • Positively reviewed by AM Best
  • Insurance policies are more catered for starting flower shops

Average cost: $33

Best for: Small flower shops

Our rating: 5/5

State Farm Flower Shop Insurance

State Farm is known for being the single largest provider of auto insurance in America as well as the biggest property and casualty insurance carrier. Since the company’s inception, it has developed a reputation for working with a system of captive agents, helping to keep the carrier’s quality consistently high.

State Farm Policy Details

State Farm offers specific insurance policies for florists but they give the customer a good degree of leeway when it comes to customizing their coverage. For example, you can choose between many different kinds of coverage, including liability coverage, property coverage, seasonal increase coverage (useful for florists), and a lot more.

  • Has policies exclusively made for florists
  • Affordable liability policies
  • Customizable policies
  • Additional options for insurance policies have hefty costs

Average cost: $28

Best for: Custom insurance policies 

Our rating: 5/5

Business Insurance Updates

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2021-09-24 15:00:00

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