Think you can wait on getting insurance until you have more time or revenue? Think again. Let me tell you a story (there are many, but I watched this one unfold in real time).

While sitting in a Bloom Trust Co CIRCLE Retail session listening to retail insights from our facilitator Natalie Gill of Native Poppy, she got a phone call. Because she was in the midst of teaching, she had her phone muted, but could see that her husband was calling.

At first she dismissed it and figured she’d call him back after the session. But, after several back-to-back calls from him, she asked the group to pause the session for a few minutes so she could take the call thinking something seemed askew. And it was!

Moments before he called, a car had crashed into the side of their San Diego flower shop. Everyone in the CIRCLE session sat stunned as the story unfolded. After the crash, the driver of the car had jumped out and run away while bystanders were checking to make sure everyone in the flower shop was alright.

Sure, this scenario seems random and unlikely, but staying prepared as a business owner is crucial to building a sustainable business. And having insurance protection for those unpredictable moments gives you the best chance of overcoming the challenge and staying in business (Native Poppy was prepared, insured, and able to weather the setback!).

Recently a member of the Botanical Brouhaha/Bloom Trust Co community asked for a recommendation on insurance coverage, so we did what we always do. We leaned into the collective knowledge of working florists in our community. We hope the insights we received will also be helpful to you if you’re trying to figure out which insurance companies are beneficial to florists.

Here are some of the insurance companies used by florists in our network and the insights they shared about them:

 

STATE FARM

• Florist policy available which is very helpful
• Cost can be in the $300-800 range depending on your studio setup (working from a detached garage will increase your coverage cost, for example)

ACUITY

• Business owners policy designed for retailers (flower shop owners might want to look at this one)

GRINELLE

• Specialized plan for floral and event businesses

HORTICA

• Easy to work with and good pricing
• Specializes in insurance for horticultural businesses, including florists, offering tailored coverage options

HARTFORD

• Another well-known insurance company (like State Farm) who offers business owner’s policies (BOPs) and other coverage options for florists

EVENT HELPER

• Helpful for new florists who can’t afford full coverage yet
• Event Insurance with no deductible

 

Additional Resource:

Safeguard Your Business: Insurance Secrets Every Florist Should Know

 

We Need Your Feedback:

Do you have insurance for your business? If so, would you be willing to share your provider? Would you recommend them to others? We want to hear from you! Drop your insights in the comments.

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Ever wonder if your flower business is even legit? Feeling a heavy load of Imposter Syndrome? Here’s something to think about.