You Should Consider “key person” Insurance

It makes sense, because you don’t even need to have done anything wrong for someone to sue you these days. If you are looking for a general liability insurance policy in New York and want to make sure to get the best and cheapest quote by comparing several quotes in one place, CoverWallet may be a good option. If you (and/or any other individual) are so critical to the operation of your business that it cannot continue in the event of your illness or death, you should consider “key person” insurance.

It’s also recommended for anyone with a home-based business whose assets aren’t completely covered by homeowners New York general liability A good construction insurance broker will ask about the type of construction projects you work on, where, how big and for whom, and will make appropriate insurance recommendations based on YOUR business. Remember your construction insurance policy is only as good as the language included within. We work for you, not the insurance companies, so it’s mutually beneficial to allow us to do the legwork for you. We’ll shop around for the policies that offer the greatest value for your money.

Manufacturers face many unique risks such as product liability and/or product recall exposures due to the nature of their business operations. Children and PetsDiscover what New York commercial insurance policies cover for children and pet related businesses. Property damage – If you get into an accident in which you are at fault, your auto policy’s Property Damage Liability coverage insures the cost to repair or replace the other party’s vehicle. The expiration date of the general liability insurance policy provided to the Department’s Licensing Unit. General Liability insurance requirements for construction or demolition projects are now in effect. When pulling permits, contractors must provide proof that the new insurance requirements have been met.

Our mission is to help businesses in NYC manage the costs of Insurance. The New York City Business Group has addressed the insurance needs of businesses and individuals in the Staten Island NY, Brooklyn NY, New York NY, Queens NY, Nassau and Bronx NY for over 10 years. The level of risk your company is exposed to is by far the biggest factor for how much you’ll pay. Anyone who deals with the public has a bigger risk than someone who works online in their basement.

No matter what your business is, if you’re in New York, you’ll benefit from being insured. If a non-employee slips and falls due to a workplace hazard or you accidentally damage a client’s property while working in their home, the last thing you need is to pay out-of-pocket for damages. In addition, project-specific general liability insurance is not required for storage sheds, garages or similar accessory uses for residential structures.

Read informative articles on New York small business insurance coverages – and how they can help shield your company from legal liabilities. NY general liability insurance protects your business against property damage, advertising injury claims, personal injury claims, and bodily injury claims. Such claims could jeopardize the success and reputation of your business. Taken at face value, a general liability insurance policy for your construction company sounds like it would protect against any accidents and injuries on company premises and customer property. However, while a general liability policy is the foundation of your construction insurance policy, it is only as good as the policy language that it contains.

A BOP bundles business property insurance and general liability coverage in one plan. It’s often the most cost-effective type of commercial insurance for a New York business. Insurance companies may include other insurance options in a business owner’s policy that cover risks that are unique to your industry. We recommend working with an experienced insurance agent in your industry to get customized coverage for your small business. Business interruption insurance is often required by your lender or the property management that you’re leasing your space from. If your business can’t operate because of a covered loss , this policy covers operational expenses, such as covering payroll for employees, paying your lease paying taxes, and even covering some lost profits.

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