At DR&V Financial Services LLC, we understand that building a business takes years of effort, investment, and dedication. But in an instant, unforeseen events such as property damage, lawsuits, accidents, or employee injuries can threaten everything you’ve worked for.

Our Commercial Insurance solutions are designed to protect your company’s assets, employees, and operations from financial loss, liability, and disruption allowing you to focus on what matters most: growing your business with confidence.

---

-We work with insurance carriers that help us find the best rates for you or your business.
-We offer multiple lines of business and products tailored to the specific needs of each individual or company.
-We can provide insurance for:

Commercial Auto
Personal Auto
Business Owner’s Policy (BOP)
Homeowners
Umbrella
Pet Insurance
Boat Insurance
Flood Insurance
Workers’ Compensation
Commercial Umbrella
General Liability Professional Liability
Excess Liability
Excess Liability
Cyber Insurance

---

These coverages include both personal and commercial insurance lines. Therefore, I’ll prepare for you a clear, professional, and practical summary focused on Florida and Texas, explaining:

When each coverage is required or recommended
Basic requirements to obtain it properly
Key regulatory or state-specific considerations (Florida & Texas)

Below is a detailed breakdown of each insurance type:

---

Commercial Auto Insurance

When it’s needed:
When a vehicle is used for business purposes—such as transporting goods, visiting clients, deliveries, or providing services.

Requirements:

• Vehicle registered in the business name (or under an individual with an EIN).
• Commercial driver’s license (CDL) if operating heavy trucks.
• List of authorized drivers and their motor vehicle records (MVRs).

State Notes:

• Florida: Minimum required coverage is $10,000 PIP + $10,000 PDL. However, businesses typically need higher liability limits.
• Texas: Minimum liability is 30/60/25 (bodily injury per person / per accident / property damage).

---

Personal Auto Insurance

When it’s needed:
For vehicles used strictly for personal or family (non-commercial) purposes.

Requirements:

• Valid state driver’s license.
• Vehicle registered in the insured’s name.

State Notes:

• Florida: Requires $10,000 PIP + $10,000 PDL.
• Texas: Minimum 30/60/25, but comprehensive & collision coverage is strongly recommended.

---

Business Owner’s Policy (BOP)

When it’s needed:
Ideal for small to mid-sized businesses (e.g., retail stores, offices, restaurants). Combines commercial property and general liability coverage.

Requirements:

• Active business registration.
• Estimated value of inventory, equipment, and furnishings.
• Description of business operations and risk level.

State Notes:

• Both Florida and Texas allow BOPs, typically for businesses with annual revenues under $5 million.

---

Homeowners Insurance

When it’s needed:
Required if you have a mortgage; highly recommended for all homeowners.

Requirements:

• Recent home inspection or appraisal.
• Exact property address and structural details.
• Claims history.

State Notes:

• Florida: Special attention needed for *hurricane risk. Many insurers exclude wind damage and require separate windstorm coverage.

---

Personal Umbrella Insurance

When it’s needed:
To protect personal assets when underlying policies (auto, home, etc.) don’t provide enough liability coverage.

Requirements:

• Minimum underlying limits (e.g., auto liability of $250,000/$500,000).
• Significant assets or elevated risk (e.g., multiple properties, domestic employees).

State Notes:

• Very common in Florida due to high frequency of civil lawsuits.

---

Pet Insurance

When it’s needed:
To cover veterinary costs for illness or accidents.

Requirements:

• Veterinary health certificate.
• Pet’s age and breed.

State Notes:

• Not mandatory in any state. In Florida, policies often include better coverage for heat-related conditions or tropical parasites.

---

Boat Insurance

When it’s needed:
For personal or commercial watercraft. Not legally required, but essential if financed or used in open water.

Requirements:

• Vessel registration.
• Intended use (recreational, charter, fishing, etc.).

State Notes:

• Florida: Many private marinas require proof of insurance.
• Texas: Not required by law, but highly recommended due to storms and water-related accidents.

---

Flood Insurance

When it’s needed:
Mandatory if the property is in a FEMA-designated flood zone and has a federally backed mortgage.

Requirements:

• FEMA flood zone determination.
• Property and contents valuation.

State Notes:

• Florida: High flood risk; coverage available through *NFIP or private insurers.
• Texas: High-risk areas include *Houston and the Gulf Coast.

---

Workers’ Compensation

When it’s needed:
Required for most businesses with employees.

Requirements:

• Employee payroll records.
• Job classification by risk level.

State Notes:

• Florida: Mandatory if you have 4+ employees (or 1+ in construction).
• Texas: The only state where it’s not mandatory, but highly recommended to avoid lawsuits.

---

Commercial Umbrella Insurance

When it’s needed:
For businesses needing higher liability limits beyond their general liability or commercial auto policies.

Requirements:

• Active underlying policies (GL, auto, etc.) with minimum required limits.
• Business risk assessment.

State Notes:

• Especially valuable for companies with large contracts or high customer traffic.

---

General Liability Insurance

When it’s needed:
Foundational coverage for all businesses—protects against third-party bodily injury, property damage, or negligence claims.

Requirements:

• Description of business activities.
• Desired coverage limit.

State Notes:

• Typically required by commercial landlords and most client contracts in both states.

---

Professional Liability (Errors & Omissions – E&O)

When it’s needed:
For professionals who provide advice or services (e.g., insurance agents, consultants, accountants, real estate agents, healthcare providers).

Requirements:

• Detailed description of services offered.
• Claims history.

State Notes:

• In Texas and Florida, certain professions (e.g., real estate agents) must carry minimum E&O coverage to maintain their license.

---

Excess Liability Insurance

When it’s needed:
Similar to umbrella insurance, but only increases limits on existing policies—does not expand coverage.

Requirements:

• Underlying policies with minimum limits.
• Risk and exposure evaluation.

---

Drone & Cyber Insurance

When it’s needed:

• Drone: For businesses using drones (e.g., photography, inspections).
• Cyber: For companies handling customer data, processing payments, or operating online.

Requirements:

• Drone: FAA registration (if applicable).
• Cyber: Cybersecurity assessment and data volume details.

State Notes:

Both coverages are rapidly growing. Florida sees more claims related to weather-related drone damage and cyberattacks compared to Texas.