Did you know that New York is home to over 2 million small businesses that employ almost 4 million of New York’s residents? But if you’re a small business owner, you need to make sure you’re protecting your business with the right insurance coverage. So in this article, we talk about the insurance that New York requires businesses to have. Plus, we also cover business insurance policies you should consider to add a layer of protection. In New York, every business with employees is required to carry workers’ compensation insurance. Even if you only have one employee, you’re still required to carry workers’ comp.

Professional liability New York general liability should be considered if your business provides professional advice, offers a professional service, or has contractual requirements for the coverage. Many insurance companies have bundled property and liability coverage into what is commonly called a business owner’s policy , or a package policy. Since no two businesses are the same, property insurance can be tailored to fit your needs. We only share customer information with our insurance carriers to place business liability coverage.

Property insurance will cover physical damage to your building or office space. Covered perils usually include damage by vandalism, theft, fire, and storms. This policy typically covers the contents of your building, which can include your furniture, inventory, and equipment , as well as personal property. Commercial property insurance is recommended for any business that owns, rents, or leases a physical business location.

With other providers, the cost of your business insurance likely depends on a variety of factors. The amount of risk involved in your business, the industry you’re in, and the amount of business you do all play a part in determining your policy premium. Whether you are a new business, office, restaurant or you’re in a tough industry like contractors and trucking, we have insurance partners willing to write your GL insurance coverage. The information provided on this website does not constitute insurance advice. All content and materials are for general informational purposes only. Complete Insureon’s online application and contact one of our licensed insurance professionals to obtain advice for your specific business insurance needs.

If you need coverage for a year or more, You’re better off letting us shop your coverage with our network or carriers. All business-owned vehicles in New York must be covered by commercial auto insurance. This type of business liability insurance is important for all New York businesses. A general liability policy covers common third-party risks and is required for most commercial leases.

The cost of business insurance in New York depends on a variety of factors including your business’s size, location, and coverage needs. For example, a business in a highly populated area like New York City can expect to have a different rate than one located in a less populated city like Binghamton. Insureon’s licensed agents can help you find policies that fulfill New York’s requirements and your business insurance needs. Once you’ve purchased insurance with us, you can download a certificate of insurance by logging into your account. Every time you start to complain about that big check you write to the insurance company, do two things.