BOP – A Businessowners policy, or BOP, is a great way to package together with your General Liability and Commercial Property coverage. It is designed for small to medium-sized businesses and allows for a little bit of savings since the two major coverages are combined on one policy. You will be able to cover a building you do business out of if you have one, your business personal property coverage, and your liability. You will even have the option to add additional insured’s as needed based on any contracts you sign for jobs. Small businesses usually pay around $2,100-$3,500 a year for commercial auto New York liability insurance coverage. New York is a high-risk commercial auto state, with annual premium as high as $10,000.
Protecting your premises from fire with good housekeeping, building code compliance, fire protection systems and alarms could help avoid claims. Injuries to others might be avoided by installing lights where needed, keeping walkways and steps in good repair, posting signs in hazardous areas, and eliminating other hazards whenever possible. The commercial insurance content available on this page is for informational purposes only and not for the purpose of providing legal or financial advice. Marine, Boat And WatercraftDiscover what types of commercial insurance government entities in New York need.
BROKER— Licensed producers , primarily representing the buyer to the insurance company. You agree to pay a premium, and the insurance company agrees to pay certain losses that may occur. While we buy insurance for protection against loss, claims can tend to result in higher insurance premiums. While you may decide to accept more risk by selecting higher deductibles, it’s equally important to take preventive steps to reduce the likelihood of loss.
The standard business owners’ policy includes property insurance, crime insurance, vehicle coverage, liability insurance, flood insurance, and business interruption coverage. Commercial Auto – The moment you start using a vehicle to do business, even if it is just driving to and from the job sites, you have to insure them on a Commercial Auto insurance policy. A Personal Auto insurance policy will exclude any claims that involve vehicles being used for business. Be sure to get your vehicles insured properly, because you don’t want to end up having to pay for a claim out of pocket, especially if it is a severe accident.
Please note, however, that this information is intended as a guide only. Some insurance companies may not offer all of the coverages listed, or may offer a variation. Always deal with a licensed insurance representative and read your policy carefully. These companies are often non-admitted carriers , so special caution and procedures are required.
For more information, contact the New York State Department of Financial Services, which is responsible for licensing carriers and monitoring their operations. Disability Benefits are another employee disability coverage mandated by New York State. It provides disability income for employee injury or illness off-the-job. This wage continuation starts after the seventh day of off-the-job illness or injury and continues for up to six months. General Liability Insure does not warrant or make any representations regarding the usefulness of or the expected results of the material contained on this website.
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. General Liability Shop.com has already helped hundreds of business owners in New York find the most affordable quotes for their business liability insurance coverages. We’re a national commercial insurance agency appointed to represent more than 35 insurance carriers throughout the U.S. We return business insurance quotes quickly with more efficient technology, highly trained insurance Specialists and dedicated underwriters servicing our agency.