Some Florida commercial insurance options are different from the way they used to be. This means that you need to be aware of how those changes may affect the way you put your insurance package together.
Terrorist attacks
Prior to the terrorist attacks on the World Trade Center and the Pentagon, terrorism insurance used to be incorporated into a standard commercial property policy. However, that is no longer the case. Businesses located in major cities or close to premises that may be specifically targeted cannot afford to ignore the risk of a future attack. This type of coverage can be obtained, but it’s now excluded from standard policies and needs to be purchased as additional coverage.
Cyber risks
On the upside, more insurers are offering or developing products designed to protect business operators from the new risks that have emerged in our online society. The risks for businesses that operate extensively online are many – from attacks by viruses and hackers, to loss of data due to systems failure, to intentional data and identity theft. The losses involved can be tremendous – if you doubt that, just ask Sony! Cyber coverage isn’t yet standard or consistent, so if you need it, speak to your agent about the options.
Does your current Florida commercial insurance policy really protect you financially from the risks of the decade we’re entering? Like every other aspect of business, you need to keep your eye on the ball when it comes to insurance. With Westgate-Jones Insurance Agency, you can get the coverage you need for your business. Contact us today for more information!