Worker’s compensation insurance covers workers against a job-related accident or disease. This statutory insurance pays for medical bills, disability income benefits, and death benefits to dependents of an employee whose death is job related. Rates are based on payroll, and depend heavily on your industry, i.e., rates for clerical payroll are nominal, while a roofing company will be charged much more. If your work force is expanding, you should update your workers’ comp coverage as you go along to avoid being hit with an audited additional charge at the end of the year.
After two weeks, the owner of the home finds out that the washbasin is damaged and it leaked. Under this coverage the legal costs that a plumber has to bear in this case are covered in case a homeowner files a lawsuit because of faulty installation of the washbasin. Sports and FitnessLearn about New York sports & fitness insurance policies and what they cover so that your customers, employees, and equipment are protected. MiscellaneousFind informative articles on miscellaneous NY businesses including the types of New York commercial general liability insurance they need, costs and other considerations. Manufacturers face many unique risks such as product liability and/or product recall exposures due to the nature of their business operations. Education, Colleges, Universities & SchoolsLearn about New York commercial insurance for educators that helps protecting your professional reputation and other legal liabilities arising from your educational services.
It is not typically required by law, but some clients and agencies could ask you to have a certificate of insurance before they work with you. We chose State Farm as the best overall small business insurance company because it offers multiple types of coverage through a nationwide network of agents. What’s more, State Farm agents are business owners themselves, so they understand the needs of other small business owners.
Say a customer slips on your floor and breaks a wrist, or an employee causes damage while working in a customer’s home, or one of your products injures somebody or damages their property. Workers’ compensation insurance covers work-related accidents or injuries to employees while they’re on the job. The type of insurance you will be required to have in New York will vary by the county you operate in.
Liberty Mutual also advertises 24-hour claims assistance through its nationwide contractor referral network. General liability insurance (also known as CGL—for commercial general liability) is one of the most essential and effective ways to safeguard your business. It protects your business from the financial consequences resulting from liability related to third-party non-employee bodily injury or third party property damage that arises from your business operations. Without general liability insurance coverage, you could be in financial trouble in the event of an unfortunate accident involving a customer or other third party.
Of coverage to the insured and the injured person or any other claimant. Combine general liability and commercial property into one policy to protect your business. Upgrade your general liability coverage to protect any gear that’s stolen, damaged or lost. With NEXT, you can purchase affordable general liability coverage online and get your certificate of insurance 10 minutes, or less.
Accidents happen all the time, and business owners need to be protected in case there’s an accident in the workplace—especially since the average customer injury insurance claim is for $35,000. General liability insurance doesn’t coveremployee injuries, auto accidents, punitive damages , workmanship, intentional acts or professional mistakes. If you believe your business is protected by additional insured status in a construction agreement, you should have SEI’s Construction Group review the policy to make sure that is so.
New York is a high-risk commercial auto state, with annual premium as high as $10,000. Out of 1,000 points, they earned 868, which takes into account price, products offered, customer service and claims. They have fourteen industry specialties to choose from, with a wide range of business insurance products. To get a quote, you fill out an online form and someone will get back to you, or you can call. As a small business owner, there are certain bases you need to have covered before you can safely operate. In this guide, you’ll learn about the types of insurance you’re required to have, and some other coverage options to help you protect your business from potentially expensive claims.