Is there anything more beautiful than nature's floral contribution to the world?
For the professional florist, the alluring colors of blue, green, red, pink, purple, yellow, white and all hues in between make it a creative work experience. Unfortunately, there's more to being involved in the industry than a talent for piecing together an attractive bouquet or arrangement of flowers that could fit in with a scheme likened to the Garden of Eden.
As in any business, there are definite risks and this line involves special hazards that are related to the trade. This is the reason that any florist must include the primary points of insurance coverage into an all-encompassing protective policy.
What are they? See below for a condensed explanation of defensive insurance.
1. General Liability
This coverage is necessary to protect the floral shop owner from liability in the event of a mishap that causes injury to customers or workers while on the business premises. For instance, if a shopper trips, falls and breaks his arm while entering your establishment, you will be liable for the damages. If a delivery man gets hurt while driving your commercial van on the way to bring flowers to a wedding, you will be liable.
2. Business Equipment
The florist relies on his computer for placing orders, keeping a check on inventory, storing data, communicating with customers and so much more. If the computer system breaks down, business will be put on hold and so will the involved income. Moreover, any equipment related to the industry, such as the fridge where flowers are kept at a cooling temperature need to work so that the floral supply will be kept fresh and marketable. This insurance protects from equipment dysfunction, or loss as a result of fire or theft.
3. Data Breach
In this day and age, it is not uncommon for business computers to be hacked. This coverage protects the business owner from customer and employee information hacking.
4. Employment Practices Liability
There are many, many instances where employees can feel they were slighted by the company or boss. If a worker sues you for damages in regard to discrimination, fair wages infringement, wrongful termination, sexual harassment, service refusal or any other allegation, you can face financial devastation without this necessary coverage.
5. Professional Liability
You need this insurance in the event your customer becomes angered by a mishap. As an example: a groom ordered 200 red roses for his wedding and the floral shop delivered 200 white roses. The ensuing décor fiasco caused by this mishap could be the basis for a Professional Liability insurance claim.
6. Commercial Auto
What happens if the florist driver is the responsible party in an accident? What happens if someone else is the liable party in an accident with your van but he is underinsured or uninsured? This coverage protects from the related scenarios.
For more information about insurance for the florist, speak to an independent agent with indemnity experience for the industry.