PINELLAS COUNTY, Fla. — Many local business owners are feeling the strain of commercial insurance rates.
Following Hurricanes Ian and Idalia, commercial insurance increased dramatically, putting stress on shops in the Tampa Bay area.
"It makes it tough," said Adam Gentile, who owns Largo Feed and Pet Supply.
"You know it just makes it more difficult," said Barbara Johnson who works at Salon 314 in Largo.
Business owners in Largo said insurance has skyrocketed within the last year.
"Everybody I talk to, all my friends, they have businesses and restaurants, whatever. When I mention it, they go 'ugh,'" said Gentile.
Gentile said his insurance is costing him thousands.
"It started out at being $10,000 more than I paid last year, then they shopped it around and found me someone that's about $6,000 more," said Gentile.
Commercial insurance has gone up over the last few years following major hurricanes that have caused damage.
Gentile said other business insurances have also increased.
"Automobile insurance went up about $5,000, and health insurance, of course, so it's gone up a lot," said Gentile.
Johnson said she's having to make adjustments.
"I will need to raise my prices, as I go along and the clients' paychecks don't go up so it's very difficult for them to do these things," said Johnson.
With those rising insurance costs, business owners said they are having to tough decisions and cut some of their products to make ends meet.
"Products that aren't moving too good. Just trying to keep stuff in here that sells honestly on a regular basis," said Gentile.
Despite the insurance, both Johnson and Gentile say they will do everything they can to keep their doors open.
"I love doing it, because I like dealing with people. I've always worked with people, retail sales basically, but I love talking to customers," said Gentile.
"Hang in there, it will get better, I hope," said Johnson.
