Reach out to our experienced agents, and receive a free personalized quote. Liquor liability insurance is business coverage that protects your business against loss or damages claimed as a result of a patron of your business becoming intoxicated and injuring himself or others. If your business manufactures, sells, serves or facilitates the use or purchase of alcohol, then your business will likely need this coverage.
If your business is in an industry that is more prone to accidents and injuries, than you will typically pay more for New York commercial general liability insurance Professional Liability Insurance (Errors & Omissions)Errors & Omissions (E&O) covers professionals for negligence and errors or omissions that injure their clients or cause damage to a third party’s data. This type of insurance is particularly important to licensed professionals such as accountants, attorneys, insurance agents, architects, engineers and technology companies.
Simply fill out this short form and we’ll get back to you within one day with a liability insurance policy that fits your business. You may even want to consider an umbrella liability insurance policy to protect your personal assets from a business lawsuit. Coverage can begin as soon as the next day, and if you’re really not sure how much insurance you need, or what kind, you can call, email, zoom, or speak to the chatbot on the website. There is online quoting and ten levels of coverage, so you can upgrade as your business grows. Some jobs that you do will also require you to have Professional Liability insurance. If you do any consulting or are providing any plans or advice, this is a great insurance policy to have.
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. All business-owned vehicles in New York must be covered by commercial auto insurance. This policy, also called errors and omissions insurance (E&O), protects New York businesses that provide professional services or advice. Commercial general liability insurance is usually the first policy that small businesses buy. It protects you from the legal costs of common accidents, and costs about $30 per month for basic coverage.
Anyone who wants to rent commercial property could be required to have coverage as part of their commercial lease. Professional liability insuranceisn’t, in general, required in New York, except malpractice insurance for doctors. However, your employers and/or your clients might require you to have it before they can employ you. New York actually has the most expensive malpractice insurance rate in the country. There are more than 450,000 small businesses in New York state, which make up over $950 million dollars in revenue. A small business is defined as having fewer than 100 employees and can include anything from coffee shops to IT services.
It makes sense, because you don’t even need to have done anything wrong for someone to sue you these days. As you may have gathered, New York can be a whole different animal when it comes to insurance for contractors. There was a study done in 2017 called the International Construction Market Survey by Turner & Townsend. It showed that New York had the most expensive construction market in the entire world. Maybe not so good for customers, but it proves that you can make a lot of money.