The Empire State boasts one of the largest economies not just in America, but the entire world. If you’re serious about starting your business in New York, take some time to consider what kinds of insurance coverage you’ll need. Being covered means you can focus on growing your company without worrying about expensive insurance claims. This agency is responsible for regulating all New York general liability policies sold in the state, including commercial liability coverage.
If your business is small and low-risk, you may be eligible for a business owner’s policy , which combines general liability insurance and commercial property insurance at a discount. There are certain instances where your business is legally required to have general liability insurance. You may sign a contract with a client for work and that contract can specify that you prove you are covered. You may lease space and your lease contract may stipulate that you retain general liability coverage while you are a tenant.
Personal Injury– libel, slander, copyright infringement, invasion of property or privacy, wrongful eviction, false arrest and similar acts that cause damage to a person’s reputation or rights. Submit claims, check status of disability or leave, and see payments. “”The response time was almost immediate. The options I was given were based on my company’s needs. I received the policy in record time.””
An example of this would be you are working inside a client’s home replacing cabinets and damage the flooring. Or, you are pulling into a driveway of a client’s home and misjudge the distance to the neighbor’s mailbox and plow right into it. The State of New York is famed for industry, particularly Manhattan and the surrounding areas. As such, it’s no wonder why so many entrepreneurs look to do business in this state.
The level of risk your company is exposed to is by far the biggest factor for how much you’ll pay. Anyone who deals with the public has a bigger risk than someone who works online in their basement. Business is inherently risky, but General Liability insurance protects against many known and unknown risks. Submit a claim online or by phone, and we’ll work quickly to pay your covered claims up to your policy’s limit.
Personal injury protection – Personal Injury Protection covers 80 percent of all necessary and reasonable medical expenses up to $50,000 resulting from a covered injury, no matter who caused the crash. We’ve been providing this coverage to businesses in New York for years. It’s our goal to help you better protect your business and employees. If you own one of the many small businesses in New York, it’s important to understand the NY business insurance requirements. Adaptable – We can help you secure coverage at any stage of your business’s development with the flexibility to adjust your policy as your business changes. Our agents will work with you to find protection that meets both your needs and budget.
A commercial general liability insurance policy accounts for your business being at fault for bodily injury, property damage, personal or advertising injury. Professional liability insurance coverage, on the other hand, protects businesses and individuals against claims made by clients for wrongful acts resulting in economic damage. General liability insurance (also known as CGL—for commercial general liability) is one of the most essential and effective ways to safeguard your business. It protects your business from the financial consequences resulting from liability related to third-party non-employee bodily injury or third party property damage that arises from your business operations. Without general liability insurance coverage, you could be in financial trouble in the event of an unfortunate accident involving a customer or other third party.
The commercial insurance content available on this page is for informational purposes only and not for the purpose of providing legal or financial advice. Wholesale and DistributionRead informative articles on New York wholesale distribution insurance. Lodging PlacesFind out what types of business insurance that New York hotels, motels and other lodging places should have to protect their varied operations. Some clients might also need you to agree to a certain level of general liability before you can provide goods or services to them. With NY general liability insurance, such issues are adequately handled.