Frequently Asked Questions About
Commercial General Liability Insurance
How much does small business insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number. (read more)
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it. (read more)
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
Commercial Liability Insurance Quotes New York
Commercial Liability Insurance Quotes New York. Protecting your NY business is important for many reasons. General liability insurance provides you with a safeguard in the event that someone makes a liability claim for bodily injury, or you need to cover the costs of property damage. With so many insurers on the market - more than $1.2 trillion worth of net premiums were written in the United States in 2015 alone, according to the Insurance Information Institute - it can be difficult to know where to start.
Here are some ideas how to find the best commercial liability insurance quotes New York.
What is the best way to get commercial liability insurance quotes in New York? Find out to protect your business from lawsuits, get a fast quote and your certificate of insurance now.
Use an Insurance Comparison Website
Type in "commercial liability insurance" into Google and you'll receive hundreds of thousands of results. There are hundreds of different insurers that offer this service, making your search for the best deals more like a headache. You will also find insurance comparison websites. These sites typically sell your quote request to multiple insurance agents - so get ready for a wave of phone calls. If you are willing to talk to multiple NY licensed brokers - this is one of the easiest ways to get quotes.
Use Third-Party Review Sites
Found a couple of insurers you are interested in? Head over to third-party review sites, where you'll find reviews from consumers who have used a particular type of commercial liability insurance quotes New York in the past. This helps you decide on the best policy for you, and you can find out whether an insurer provides good customer service, flexible payment options, and a simple application process.
Talk to a Real Person
The internet can only give you so much information. If you really want to find the best quotes, contact a broker by phone and talk to a real person. An commercial insurance broker will tell you about the different options for your business, such as you how much your premiums will cost and the maximum amount you can claim per occurrence and aggregate. Remember, ask plenty of questions before you commit to any service. If you're not sure about a particular policy, take some time and think about it for a while before making up your mind.
Get Enough Coverage
The commercial liability insurance quote New York you will be given will depend on the amount of coverage you need. Remember, you need a policy that covers your business properly. Not all insurance companies will give you the amount of coverage you need, however, and you might find that some events aren't even covered at all. That's why it's important to read through the quote before you set up NY commercial liability insurance.
Review Your Current Policies
If you already have NY commercial liability insurance with a company, contact them and ask them whether you currently have the best deal. Your insurer might recommend another service that benefits your company better, especially if you are paying for things on your policy that you don't need. Alternatively, you can contact the company where you hold other types of insurance and see whether they specialize in business liability insurance. Ask them to give you commercial liability insurance quote New York and see how they compare with other insurers on the market. They might be able to offer you a reduce rate if you add a commercial liability policy to any existing insurance policies you currently hold with them.
Review Your Insurance on a Regular Basis
Just because you have the best deal right now, doesn't mean that things won't change. In order to get the best commercial general liability insurance deals, you'll want to review your policy once a year and compare it with other types of coverage on the market. You might find that another company is offering a very similar policy for a cheaper price, for example. Alternatively, you might want to upgrade your business insurance so you have more coverage if your the risks to your business have increased.
Commercial Liability Insurance Quotes
Searching for commercial liability insurance quotes doesn't have to be a headache. Use the internet to compare insurance, check out reviews, contact a broker directly, review your current plan, review your insurance on a regular basis and make sure you have enough coverage.
New York Economic Data And Commercial Insurance Requirements
The State of New York is famed for industry, particularly Manhattan and the surrounding areas. As such, it's no wonder why so many entrepreneurs look to do business in this state.
If you are thinking about starting up a business in NY, it's important for you to have an understanding of the status of the state, regarding its economy. It's also important to know about the insurance requirements for business owners in the Empire state.
Below, we offer a brief overview of New York's economic status, as well as the types of insurance policies business owners are legally required to carry, and policies that they should consider investing in.
The Economic Status Of New York State
While the economy is growing in the State of New York, it is lagging behind other states, in terms of growth. Overall, more jobs have been added in this state in recent years. In 2018, it is expected that this trend in job growth will continue; however, it will likely be at a slower pace than previous years.
If you are thinking about doing business in the Empire State, one of the best industries to consider is finance. It is predicted that this sector will contribute largely to the economy in 2019, as well as in the coming years. Healthcare services and education are also expected to see growth, as are the transportation industry, and professional and business services.
Insurance Requirements For Business Owners In NY
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.
While there are no mandates surrounding commercial liability insurance, business owners in New York would be wise to invest in this type of coverage. Should a client or a contractor sue you for an accident or injury that happens at your place of work, or if a client claims you damaged his or her property, commercial liability insurance will protect you from having to pay the cost of legal fees and any settlements that may be awarded out of your own pocket.
Additional Small Business Commercial Insurance Resources
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Get useful tips and information about how much commercial insurance costs, small business risks and exposures, how insurance regulations effect your businesses' and detailed descriptions of coverages and exclusions and more. Most small businesses need to buy the following four types of insurance at a minimum to cover their operations from every day risks:
Property Insurance: This policy covers a business if the property used in the business is damaged or stolen as the result of common perils like fire or theft. Commercial property insurance covers the buildings, structures and also business personal property - which includes furniture, inventory, raw materials, machinery, computers and other items.
Liability Insurance: Any company can be sued. Slip-and fall lawsuits are very common and be costly. Customers can claim you injured them or damaged their property - and lawsuits are very expensive. Commercial liability insurance pays damages and can include attorney's fees and other legal expenses. It also ca pay for the medical bills of injured third parties
Commercial Auto Insurance: For vehicles owned by the business. Commercial auto insurance pays bodily injury or property damage costs for which the business is found liable - up the the policy limits for liability and property damage.
Workers Compensation Insurance: In almost every state employers must provide workers comp when there are W2 employees. Workers compensation pays for the medical care of employees and can replace a portion of lost wages - regardless of who was at fault for the injuries.
Request a free Commercial Liability Insurance Quotes New York quote in Airmont, Albany, Albion, Amityville, Amsterdam, Auburn, Babylon, Baldwinsville, Ballston Spa, Batavia, Bath, Bayville, Beacon, Binghamton, Briarcliff Manor, Brockport, Bronxville, Buffalo, Canandaigua, Canton, Cedarhurst, Chestnut Ridge, Cohoes, Colonie, Corning, Cortland, Croton-on-Hudson, Depew, Dobbs Ferry, Dunkirk, East Aurora, East Hills, East Rochester, East Rockaway, Elmira, Endicott, Fairport, Farmingdale, Floral Park, Fredonia, Freeport, Fulton, Garden City, Geneseo, Geneva, Glen Cove, Glens Falls, Gloversville, Goshen, Great Neck Plaza, Great Neck, Hamburg, Harrison, Hastings-on-Hudson, Haverstraw, Hempstead, Herkimer, Hilton, Hornell, Horseheads, Hudson Falls, Hudson, Ilion, Irvington, Ithaca, Jamestown, Johnson City, Johnstown, Kenmore, Kingston, Kiryas Joel, Lackawanna, Lake Grove, Lancaster, Larchmont, Lawrence, Lindenhurst, Lockport, Long Beach, Lynbrook, Malone, Malverne, Mamaroneck, Manorhaven, Massapequa Park, Massena, Mechanicville, Medina, Middletown, Mineola, Monroe, Monticello, Mount Kisco, Mount Vernon, New Hyde Park, New Paltz, New Rochelle, New Square, New York, Newark, Newburgh, Niagara Falls, North Syracuse, North Tonawanda, Northport, Norwich, Nyack, Ogdensburg, Olean, Oneida, Oneonta, Ossining, Oswego, Patchogue, Peekskill, Pelham Manor, Pelham, Plattsburgh, Pleasantville, Port Chester, Port Jefferson, Port Jervis, Potsdam, Poughkeepsie, Rensselaer, Rochester, Rockville Centre, Rome, Rye Brook, Rye, Salamanca, Saranac Lake, Saratoga Springs, Scarsdale, Schenectady, Scotia, Seneca Falls, Sleepy Hollow, Solvay, Spring Valley, Suffern, Syracuse, Tarrytown, Tonawanda, Troy, Tuckahoe, Utica, Valley Stream, Walden, Wappingers Falls, Warwick, Washingtonville, Waterloo, Watertown, Watervliet, Webster, Wesley Hills, West Haverstraw, Westbury, White Plains, Williamsville, Williston Park, Woodbury, Yonkers including the neighborhoods in the New York City Five Boroughs (Brooklyn, Manhattan, Queens, and Staten Island):
Borough Park, Bronx Park and Fordham, Brooklyn, Bushwick and Williamsburg, Canarsie and Flatlands, Central Brooklyn, Central Harlem, Central Queens, Chelsea and Clinton, East Harlem, East New York and New Lots, Flatbush, Gramercy Park and Murray Hill, Greenpoint, Greenwich Village and Soho, High Bridge and Morrisania, Hunts Point and Mott Haven, Inwood and Washington Heights, Jamaica, Kingsbridge and Riverdale, Lower East Side, Lower Manhattan, Manhattan, Mid-Island, North Queens, Northeast Bronx, Northeast Queens, Northwest Brooklyn, Northwest Queens, Port Richmond, Queens, Rockaways, South Shore, Southeast Bronx, Southeast Queens, Southern Brooklyn, Southwest Brooklyn, Southwest Queens, Stapleton and St. George, Staten Island, Sunset Park, Upper East Side, Upper West Side, West Central Queens, West Queens and all other cities in NY - The Empire State.
Quotes from leading small business insurance carriers including: ACE, AmTrust, Chubb, Cincinnati, CNA, Colony, Employers, Evanston, Fireman's, Foremost, Guard, Hanover, Hiscox, Liberty Mutual, LLoyd's of London, Markel, MSA, Nationwide, Penn America, Philadelphia, Prime, Progressive, Scottsdale, The Hartford, Travelers, USLI, Utica First, Western World, Zurich & others.