Being covered means you can focus on growing your company without worrying about expensive insurance claims. Commercial property insurance is often included as part of a Business Owners’ Insurance Policy, or BOP. Whether you live in Rochester, Buffalo, Manhattan, Long Island, Syracuse or Albany, having sufficient general liability insurance is an important part of any small business plan in New York. The insurance products on (the “”Site””) are underwritten by different carriers dependent on the relevant line of business – see huckleberry.com/carriers.
If you have employees, Apple Insurance Agency recommends considering this type of coverage. Errors & Omissions (E&O) covers professionals for negligence and errors or omissions that injure their clients or cause damage to a third party’s data. This type of insurance is particularly important to licensed professionals such as accountants, attorneys, insurance agents, architects, engineers and technology companies https://www.bayareacrosswords.org/ Agency recommends that all professional and technology companies have E&O coverage. You may even want to consider an umbrella liability insurance policy to protect your personal assets from a business lawsuit.
Sometimes this can be added to a Commercial Property, BOP, or Commercial Package policy, but other times it may be a separate policy. It will depend on your circumstances and an experienced insurance agent can help to determine what is right for you. Advertising Liability – Do you advertise for your contracting business at all? Even if it is just on social media, you could unknowingly cause damages to another business by what you post. Your competitors may be watching and if they feel that something you posted resulted in financial damages to them, like loss of business, they can sue you for that in addition to libel, slander, and defamation.
The New York State Department of Financial Services regulates insurance in the Empire State. Organizations that employ a staff of part-time or full-time workers that are either hourly or salaried are required to carry workers’ compensation insurance. This type of insurance is required, no matter what size your staff is; even if it only consists of one W2 salaried person. You must also carry NY commercial auto insurance if you are using a vehicle to conduct any business affairs.
In addition, coverages can be designed to cover additional costs like attorney fees or court costs. If you use a vehicle for work, you need to have commercial auto insurance. Your personal auto insurance policy doesn’t cover your vehicle uses for business.
Have you fully protected your business from the impact that a customer lawsuit can have? Only a precisely crafted liability insurance policy can shield your business from this expense and stress. General liability is one of the most pervasive policies on the market today – and for good reason. It provides coverage for liability issues resulting from personal and advertising injury, including medical expenses.
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. New York general liability insurance is required by the state for most business owners. GL coverage is designed to protect NY business owners from direct or indirect damages to another party.
AgribusinessLearn about NY agribusiness insurance – a type of commercial insurance protects farmers against loss of, or damage to crops or livestock. This agency is responsible for regulating all insurance policies sold in the state, including commercial liability coverage. We offer a friendly, approachable atmosphere that maintains the utmost level of professionalism. Commercial insurance costs are higher for high-risk businesses – those with a large footprint or heavy foot traffic.