Because storms in the area often cause severe issues, many smaller companies have small business insurance in Florida. They need a policy in place to cover loss due to physical damage, and many will likely file their claims for lost sales due to equipment breakdown, provided they have the necessary coverage.


Many companies that suffer losses during tropical storms will seek compensation, often due to the fact that they suffered losses because suppliers were unavailable or customers were unable to provide them with business that they’re dependent upon.


If your business’s equipment is damaged or breaks down in an accident, this coverage helps with the cost of replacement or repair, with provisions partly determined by how long it takes damaged businesses to resume normal operations. The biggest risks are to small businesses, as they may lack sufficient coverage and can’t survive days or months of lost income.


Most businesses depend on equipment, everything from heating and air conditioning, to alarms and security. If computers and phones, or anything vital to your operations breaks down, it’ll likely affect your ability to run your business, as well as hurt your bottom line. While many businesses have insurance against direct losses, fewer have policies to cover loss of income when their operations are disrupted by a supplier’s unfortunate situation.


For companies that do file claims, proving how much business was actually lost can be difficult. It’s not really possible to know how much business was actually lost, but one can estimate based on routine income for any specific period of time your operation has been interrupted. Get records of income over the past month and the same time last year, if possible, as a comparison.


How to go about filing a claim


Once the unpleasant event has taken place, give notice by contacting the insurer that provides your small business insurance in Florida as soon as possible. Document any damage by taking pictures of the premises, from several angles. In the event of a storm, also present any pre-storm pictures, if available.


If the business was forced to stop operating due to a collapsed building or downed power lines, you must document that as well. As far as filing claims are concerned, time is of the essence, so don’t delay. Some of the time limits for filing a claim can be pretty stringent. Prepare as early as possible.