Free Report: Florist's Secrets of Comprehensive Protection
From a single rose to stunning bouquets, arrangements and centerpieces you craft each one as a work of art. And, your business is as different and unique from other florists as the variety of flowers that you carry. You keep your business running, meeting deadlines, filling orders, crafting bouquets, managing employees and working on your insurance plan! OK, maybe your insurance plan is not on your top 10 list of things to do. In fact, it’s probably not on your list at all. Besides, you work in a happy place and work with flowers - what could possibly go wrong?
We spend a lot of time working with our florist clients to learn exactly what the risks are and the best coverage package to protect them. Accidents happen to everyone and many times you have no control over the loss. Damages and injuries can lead to stress, lost time and costly expenses and sometimes in a catastrophe you can lose it all. That is why it is so important that you do not wait for an accident to find out if you have the insurance coverage that you need. Just like you, we craft an elegant insurance policy and work to design the coverage within your budget.
In today's cookie cutter - look alike products world some would have you believe that all insurance is the same. You just buy product X at the lowest price and you are covered. Nothing could be further from the truth. Every business is different and Product X may be too much insurance for a small florist and completely inadequate for a large one. And, if you are buying your florist insurance from your neighborhood insurance agent do they truly understand your business? Do they have access to the insurance markets that specialize in Florist Insurance Coverage and is it the right fit at the right price? You will never be pressured to buy insurance from Ted Hamm Insurance. We don’t believe that it is ethical and we want you to understand what you are buying and why. That is not all; throughout the course of the year we will send you tips on how to save money on your insurance and steps to take that can reduce the chance of loss and claims. And, we put out a monthly newsletter to our florist insurance clients. The newsletter is full of information that we have picked up over the years that is of interest and applicable to your field.
Do you get all of this and service from your current agent? If you don’t have an agent when was the last time that you heard from your insurance company other than sending you a bill? I know what you are thinking, this is all great but what is this going to cost me? The truth is probably nothing more and most likely you will end up saving money. You see, we have access to most all of the biggest florist insurance program carriers. For complex operations we can reach out to the open market and have access to many more. We shop them all to find the best package for you.
This is truly one of those win-win situations. You have nothing to lose by talking to us and everything to gain in correct coverage and lowest premiums. Please call or complete the form on this webpage and Ted or Chris will contact you!
Do You Want More Information? Keep Reading:
At Ted Hamm Insurance we take the time to study your business and select the coverage that you need to have such as:
Business Owners Policy (BOP): Most florists will qualify for the BOP which is a package if liability, property including building and inventory and business interruption (loss of income).
Liability: Also known as general liability protects your company assets and pays obligations such as medical costs when someone is injured while in your business or the cause was from you or an employee. Liability also covers your legal defense if you are sued and will pay the settlement including compensatory damages, non-monetary losses and punitive damages if you are found guilty. Liability can protect you if you rent your space and cause a fire that damages the building and covers claims of false or misleading advertising including slander, libel and copy-write infringement. Most landlords will require you to have this coverage.
Business Property: This is your equipment, inventory, fixtures, tools, office supplies and if you own your building - building coverage. If you have a loan most lenders will require you to have property insurance.
Workers Compensation Insurance: Most florists have an employee or multiple employees to help with customers, design arrangements, provide service and delivery. With employees it is mandated by law that you have workers compensation insurance. This form of insurance protects employees from injuries and illness suffered while in your employ. State Laws require workers compensation insurance and in return employees give up the right to sue their employer.
Commercial Auto Insurance: Most florists deliver. If your business delivers your vehicle needs to be insured as a commercial vehicle. Your personal auto insurance excludes delivery and you may not be insured in the event of an accident.
Product Liability: Are their products that you create and sell with flowers, bouquets and live plants? If so you could be held liable for product defects that cause injury, illness or monetary loss.
Spoilage: You work with living plants and they are subject to different risks than other businesses. You are dependent on fresh products for your business but what happens if a storm prevents your ability to cool or in some cases to heat your plants? Spoilage pays the owner for lost revenue.
Seasonal Coverage: Every florist has peaks and valleys with inventory. Wedding season and Valentines are just two examples to consider when your inventory may exceed your insurance coverage. What happens if you have a loss when your inventory is higher than normal? With seasonal coverage you have flexibility of additional insurance coverage during your peak business periods.