In addition to these core coverages, professional liability insurance protects small business owners against claims arising from poor guidance that they give to clients. Commercial auto insurance covers damages resulting from a car accident caused by you or one of your employees when using a vehicle for business purposes. Damage to inventory or equipment when it’s in transit is covered by inland marine insurance. Liberty Mutual offers business insurance through independent agents across the country. Liberty Mutual also advertises 24-hour claims assistance through its nationwide contractor referral network. The company also writes all the business New York commercial general liability insurance policies sold by GEICO.
Owners and contractors protective liability insurance provides coverage for the insured against bodily injury or property damage sustained from work being performed by a designated contractor on their job site. General liability insurance is designed to protect you from the expenses from some of the most common lawsuits that arise from doing business. Your commercial lease might require general liability insuranceIf you plan to lease commercial space, your landlord could also insist on seeing your general liability insurance certificate. Coverage is often required because it shows you will have the financial protection needed to cover expenses related to property damage or injuries related to your business at the leased space. Workers comp insurance pays for medical costs, lost wages, disability benefits, death benefits, re-training costs, etc. if and when an employee gets injured or becomes ill at work. It means that regardless who is at fault when accidents happen, employees still receive benefits.
Inland Marine – Chances are, you have a ton of equipment that you own to use for your business, as well as temporary pieces you may rent or lease. The equipment will be insured on an Inland Marine policy or Equipment Floater. 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. With any type of insurance there are certain underwriting and eligibility questions that must be answered in order for the insurance company to determine what the final rating will be. We insure your small business directly, without a middleman or insurance broker, so we pass that savings on to you – up to 20% less than policies with other insurance companies.
Commercial general liability insurance is usually the first policy that small businesses buy. It protects you from the legal costs of common accidents, and costs about $30 per month for basic coverage. The standard business owners’ policy includes property insurance, crime insurance, vehicle coverage, liability insurance, flood insurance, and business interruption coverage. Small businesses usually pay around $2,100-$3,500 a year for commercial auto insurance coverage. New York is a high-risk commercial auto state, with annual premium as high as $10,000.
Marine, Boat And WatercraftDiscover what types of commercial insurance government entities in New York need. Local, State And Federal GovernmentDiscover what types of commercial insurance government entities in New York need. In addition to the above, Specialty General Liability coverage is available for certain types of businesses. Our mission is to help businesses in NYC manage the costs of Insurance. The New York City Business Group has addressed the insurance needs of businesses and individuals in the Staten Island NY, Brooklyn NY, New York NY, Queens NY, Nassau and Bronx NY for over 10 years. Our editorial content is intended for informational purposes only and is not written by a licensed insurance agent.
Policies with high deductibles cost less, but you’ll have to pay that amount before you can collect on a claim. Most TechInsurance customers choose a deductible of $500 for general liability insurance. Learn more about commercial general liability insurance with the information below orfind an agent for a commercial general liability insurance quote. Combine general liability and commercial property into one policy to protect your business.
Small business insurance costs vary widely based on industry, location, and coverage types. However, business owners who own facilities or equipment, have employees, or give professional advice should all expect to pay more each year in order to protect against their specific risks. Costs can also be higher for business owners who choose higher coverage limits, lower deductibles, additional coverages, or extra endorsements. While small business insurance protects your company against legitimate losses, it doesn’t protect against damages caused by your negligence or fraud. It also may not cover you if you misrepresent the nature of your business or misclassify your employees in order to reduce premiums. Liquor liability insurance is business coverage that protects your business against loss or damages claimed as a result of a patron of your business becoming intoxicated and injuring himself or others.
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. We have auto, home, and boat insurance through Delmonico and they are always very responsive to any question we have about our policy…. Many times companies will require you to show them a certificate of insurance before you can do work for them. Get a quote entirely online or speak with one of our insurance experts right away for help getting a quote, buying a policy, or answering any questions you may have.
Children and PetsDiscover what New York commercial insurance policies cover for children and pet related businesses. No matter what your business is, if you’re in New York, you’ll benefit from being insured. If a non-employee slips and falls due to a workplace hazard or you accidentally damage a client’s property while working in their home, the last thing you need is to pay out-of-pocket for damages. 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.