General liability is the most common commercial coverage and almost every New York business should consider it. It protects against third-party bodily injury and property damage, as well as personal and advertising injury. A general liability insurance policy protects a small business in case of damage to the client’s property. This is the maximum amount of insurance that you could claim from your general liability insurance policy. The higher your total coverage limit, the higher your small business liability insurance costs. General liability is included in most business insurance packages because it covers the risks that many business owners face every day.
In addition, pollution liability is excluded and can be purchased as an endorsement. However, this coverage is very limited, and high-risk businesses should consider purchasing a separate pollution liability policy. Liquor liability, professional liability and other risks may also be excluded. An New York commercial general liability insurance professional can help you to determine endorsements that are right for your type of business. Also known asbusiness liability insurance, general liability insurance protects you and your business from “general” claims involving bodily injuries and property damage.
New York Specific Commercial Insurance ArticlesRead informative articles on NY commercial insurance including costs and coverages. Information Technology and InternetLearn about New York IT technology insurance policies that help protect IT businesses, consultants & subcontractors from the unique risks that small tech businesses face when they work. This material does not amend, or otherwise affect, the provisions or coverages of any insurance policy or bond issued by Travelers.
Maybe not so good for customers, but it proves that you can make a lot of money. Keeping in mind that you have the right insurance protection so that you don’t lose all of that money made by a mistake or unforeseen event. General Liability insurance for contractors is an essential part of your insurance program. It is usually the first policy that any business purchases, but contractors often buy it when a contract requires it. Usually, if you are subcontracting for a General Contractor, they will require you to have General Liability insurance.
Chamber Institute for Legal Reform, “The tort liability price tag for small businesses in America in 2008 was $105.4 billion.” Submit a claim online or by phone, and we’ll work quickly to pay your covered claims up to your policy’s limit. Taking these steps will help ensure you’re not paying too much for your general liability coverage in New York. BROKER— Licensed producers , primarily representing the buyer to the insurance company. You agree to pay a premium, and the insurance company agrees to pay certain losses that may occur. Insurance companies understand that busy entrepreneurs don’t want to spend days studying the minutiae involved in evaluating numerous policies.
Schaefer Enterprises can help you craft airtight waivers of subrogation agreements between the insured and the potential negligent party, and between the insured and the insurer. Incidentally, if you already have general liability coverage, we’d be happy to give you a complimentary policy review to ensure that you’re not being overcharged for the coverages included in your existing policy. Even if you can get away without general liability insurance, you might have a difficult time getting clients without it. And general contractors usually require subcontractors to have it before they will consider working with them. There are more than 450,000 small businesses in New York state, which make up over $950 million dollars in revenue. A small business is defined as having fewer than 100 employees and can include anything from coffee shops to IT services.
This wage continuation starts after the seventh day of off-the-job illness or injury and continues for up to six months. The Department of Financial Services recognizes that small businesses are the backbone of our economy. As doing business online becomes indispensable, it is essential that small businesses protect themselves and their customers from cybercrime. Contact The Cesar Group, Inc today to speak with one of our trusted agents about your New York General Liability insurance & answer any questions you may have and provide you with a General Liability quote.
You must also carry NY commercial auto insurance if you are using a vehicle to conduct any business affairs. The company offers other types of business insurance including commercial auto, cyber liability, surety bonds, and workers’ comp, although prices vary by industry. It also protects assets from unforeseen environmental exposures that could have substantial impact on earnings. In addition, it protects against unforeseen pollution hazards that may lead to bodily injury, property damage or pollution clean-up costs.
Cover medical bills and lost wages if your employees have an accident at work. Protect yourself from accidents that cause physical injury or damaged property. If you like what you see, you can adjust the package limits and make your purchase. Your insurance will begin immediately after payment, and you’ll have access to your certificate of insurance.
In addition, this form covers any other loss, unless the peril is specifically excluded, such as flood, earthquake, war, nuclear accident, etc. If you (and/or any other individual) are so critical to the operation of your business that it cannot continue in the event of your illness or death, you should consider “key person” insurance. This type of policy is frequently required by banks or government loan programs. It also can be used to provide continuity in operations during a period of ownership transition caused by the death or incapacitation of an owner or other key employee.