Types of New York Business Insurance Coverages Available
New York Business Insurance, as in other states, is a type of business insurance that provides coverage for claims of bodily injury, property damage, and advertising injury. It’s designed to protect businesses from financial losses resulting from lawsuits or claims made against them by third parties. However, depending on the nature of your business, you may be required to have specific types of insurance. For example, businesses with employees typically need workers’ compensation insurance, and certain professions such as healthcare providers may have additional insurance requirements.
New York Business Liability Insurance Package Policy.
Often referred to as a Business Owner Policy or “BOP,” this General Liability package policy protects your company in the event a client is injured on your premises, or if you or one of your employees causes an injury or property damage at a client’s location.
New York Professional Liability Insurance.
Professional Liability or “Errors & Omissions” Insurance provides coverage in the event you are legally obligated to pay for economic damages to your client or a third party caused by your alleged negligent or improper advice — or other errors or omissions in your work. This coverage is critical for professional services companies.
New York Workers’ Compensation Insurance.
Required in many states, Workers’ Compensation Insurance provides medical and disability coverage for company employees in the event of a work-related illness or injury.
New York Employment Practices Liability Insurance.
EPLI insurance provides the protection you need should one of your employees allege any number of employment practice violations. These violations include age, race, or gender discrimination, wrongful termination, and sexual harassment. EPLI is essential coverage in today’s litigious workplace.
ALL-IN-ONE PACKAGE POLICIES
Too many choices? Insurance companies understand that busy entrepreneurs don’t want to spend days studying the minutiae involved in evaluating numerous policies. The result is an increasing popularity of one-stop shopping policies, called BOPs, combining many coverages under one policy, usually at a competitive price.
A package policy offers protection for:
- buildings and other structures,
- leased or owned
- furniture, equipment, and supplies
- leased equipment
- inventory
- business income
- extra expense
- business liability
- medical expense
- losses from crime
Insurance as Fast-Paced as Your New York Business
As a business owner in New York, you have enough to worry about without wondering whether your business insurance is adequate to cover your company’s risks. Consult with a WeinsureXYZ agent today, and begin determining your company’s unique risks. Within a short time, we can have a customized commercial liability insurance quote waiting for you.
Give us 15 minutes or less… and we’ll have you covered! Start by getting our free, no-obligation online quote, and you’re on your way to saving time and money!
Best New York Business Insurance Compare Rates.
Ready to compare the cost of New York Business Insurance policies for your business? Fill out our brief online application, and one of our agents will send General Liability quotes to your email inbox. In most cases, you can expect to receive New York Business Insurance quotes within a matter of minutes. Get a free New York (NY) Business Insurance quote now! Let us help you find and bind any of the following coverages:
New York Workers Compensation Rules | New York State Insurance Department
Wall Street, Madison Avenue, Broadway…we can only be talking about one place in the world and that’s New York City. As one of the largest city-based economies in the world, second only to Tokyo, New York City is filled to the brim with businesses, large and small. New York business insurance risks affect nearly every industry, especially the consulting and trading sectors where millions of dollars are passed back and forth daily. With trading and consulting at the forefront of the state’s economy, tailor-made New York business insurance policies are more important than ever.
- You might not think “natural disasters” when talking about New York but don’t even think about skimping on your NY property insurance. With so much hustle and bustle you may make claims more often than anticipated.
- For consulting companies, New York professional liability insurance can be your biggest asset, but it doesn’t come standard with a BOP. Talk to an agent today about adding errors and omissions coverage to the policy and ensuring coverage in the event of a lawsuit.
- Check into the specifics of New York workers’ compensation laws – all state laws differ. Talk to your WeInsureXYZ agent today to ensure that you have adequate and proper insurance coverage for your employees.
