New York Furniture Store Insurance
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Frequently Asked Questions About
Commercial General Liability Insurance
How much does commercial 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.
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.
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.
New York Furniture Store Insurance
New York Furniture Store Insurance. As a furniture store owner, it is important for you to maintain insurance that adequately covers any potential liability and claims that may arise from doing business - a step that ensures that you remain profitable, no matter the financial climate. Work with an independent insurance agent to help you craft a New York furniture store insurance policy that protects both you and your business from the exposures and perils you face in day-to-day operation.
New York furniture store insurance protects your shop from lawsuits with rates as low as $47/mo. Get a fast quote and your certificate of insurance now.
Why Do Furniture Stores Need Business Insurance?
There nearly 30,000 furniture stores doing business in the U.S. These stores employ nearly 217,000 people. The sector generates roughly $60 billion in revenue total annually across the country. This makes the business a broad one, and the risks faced by owners of these stores are likewise broad.
Because of this, you must have the right New York furniture store insurance policies in force at all times to prevent your business from financial downfall if you become the target of a lawsuit. Following are some of the most important New York furniture store insurance coverage types:
Commercial Property Insurance
Your store is likely stocked with a lot of high-quality merchandise. Your business also owns property that you must protect, such as equipment, shelving, fixtures, and more. These items must be protected with insurance. Your independent insurance agent will likely recommend one or all of the following types of coverage for your furniture store business:
Building Insurance - This coverage is important if you own the store in which you do business or if you own the warehouse where you keep your inventory. If you rent your space, you may also need to buy this coverage if the owner does not maintain it for you as part of your lease.
Business Property Insurance - Cover the contents of your furniture store or the warehouse where your furniture is stored with property insurance. This type of New York furniture store insurance coverage provides protection for hazards like fire, vandalism and heavy winds. This may include protection for things such as light fixtures, computers, furniture, fixtures or even flooring.
Flood Insurance - Provides coverage against flood and water damage from flooding with flood insurance. Flood water can impact your NY furniture store in a major way. You can supplement your property coverage with a flood insurance policy, which is sometimes available through the National Flood Insurance Program.
Earthquake Insurance - For damage that is caused by earthquakes, earthquake insurance is a must. If you do business within an area of the country where seismic activity is a problem, then a supplemental policy that guards against financial loss from earthquakes can be important.
Liability Insurance for Your Furniture Store
Nothing can wreck a business' financial outlook like getting hit with a liability claim. If you don't have a liability policy in force when someone is injured at your NY showroom or in your parking lot, then you can be hit with a major award that can send you into bankruptcy. The right New York furniture store insurance policy can provide for legal defense costs, court expenses and financial awards to injured parties. Some types of liability insurance to consider include:
- Commercial General Liability: This covers most common liabilities that you might face such as slip-and-fall claims.
- Product Liability: This New York furniture store insurance policy provides coverage for property damage or injuries caused by defective or faulty products you sell.
- Advertising Liability: Cover yourself against claims of trademark or copyright infringement with this type of policy.
- Personal Injury: Provide protection for claims of slander and libel with personal liability insurance.
- NY Commercial Auto: If you have a delivery truck or van, protect it with an auto liability policy that's specifically structured for commercial use.
- Cyber Liability: Protect your clients and customers from cyber attacks with this policy. This coverage provides protection for damage and loss occurred when someone hacks into your system and retrieves credit or other information.
Other Types of Furniture Store Insurance Coverage
Beyond property coverage and liability coverage, your furniture store might want to consider business income insurance. If your business must close due to a covered peril, then this insurance can provide financial assistance until you can reopen.
Worker's compensation is also a good type of policy to own, and it is required by most states. NY workers comp protects your employees from loss if they become ill or injured at work.
NY Furniture Store Insurance
Review your coverage needs with a licensed independent broker to determine if your portfolio contains the right levels and amounts of coverage for your individual needs. With the right insurance in place, you can rest assured that your NY furniture shop is completely guarded against perils that can and do arise during the course of business operation.
Request a free New York Furniture Store insurance quote in Albany, Amherst, Auburn, Babylon, Binghamton, Bronx, Brookhaven, Brooklyn, Buffalo, Clarkstown, Clay, Colonie, Elmira, Glen Cove, Greenburgh, Hamburg, Hempstead, Huntington, Islip, Ithaca, Jamaica, Jamestown, Long Beach, Manhattan, Middletown, Mount Vernon, New Rochelle, Newburgh, Niagara Falls, Orangetown, Oyster Bay, Perinton, Poughkeepsie, Queens, Rochester, Rome, Rye, Schenectady, Smithtown, Southampton, Staten Island, Syracuse, Tonawanda, Troy, Union, Utica, Watertown, West Seneca, White Plains, Yonkers and all other NY cities. Also see Pennsylvania Furniture Store Insurance, New Jersey Furniture Store Insurance, Delaware Furniture Store Insurance, Kentucky Furniture Store Insurance, California Furniture Store Insurance, Texas Furniture Store Insurance
Quotes from leading small business insurance carriers including: ACE, AmTrust, Builders & Tradesmen's, Chubb, CNA, Employers, Foremost, Guard, Hiscox, Liberty Mutual, Markel, Nationwide, Penn America, Philadelphia, Progressive, Scottsdale, The Hartford, Travelers, USLI, Western World, Zurich & others.