Disability Insurance offers your small business financial support if you or any of your employees are unable to work as a result of a work-related illness or accident. Disability insurance offers financial support to replace a portion of lost income while they're recovering.
Cyber Liability Insurance protects you from the theft of sensitive data. If you suffer a data breach or software attack, Cyber Liability Insurance will cover the costs of notifying and restoring affected customers, recovering data and repairing security systems.
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Commercial Auto Insurance covers your cars, trucks, and vans used in your business. It covers the costs from vehicle damage in collisions, theft, vandalism and weather damage. It also covers medical expenses for to injured parties.
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
How much will it cost to insure my New York business?
It depends on the carrier, type of business, and what types of insurance. Insurance carriers review claims history, experience, and the details of your daily operations to determine insurance premiums.
Do I need Worker’s Compensation Insurance?
Worker’s Compensation is required for businesses with employees in New York State. Even if you only have one employee, you still need to purchases this coverage.
I use my car for business, what limits do I need to carry?
New York requires $10,000 for property damage, $25,000 for bodily injury and $50,000 for death for one person. ($50,000 and $100,000 for more than two people). You will also need a Business Auto policy for coverage.
What limits do I need for General Liability Insurance?
Most small businesses choose a policy with one million dollars in coverage. If you are a larger business, you may need two or three million dollars in coverage.
What happens if I don’t buy insurance for my business?
You risk paying expenses from any incidents or lawsuits. In most cases, it’s a better decision to pay a few hundred dollars to prevent a few thousand dollars in expenses.
Guide to commercial insurance by state
Insurance laws and requirements may vary state by state. Click on your state to discover the insurance you will need for your small business: