Affiliates is an Insurance Agency Licensed to Sell Certain Insurance Products

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The Empire State is where you want to be if you want to start a new venture in one of the world’s business capitals. But to ensure everything goes smoothly with your undertaking, you’ll want to be doubly sure you’re meeting all the state’s insurance requirements. A small business is defined as any company with fewer than 500 employees. Of New York’s nearly 2 million small businesses in 2008 , 440,510 were small employers. After you share your information, you’ll have instant access to a customized insurance quote for general liability and other recommended coverage.

Next Insurance, Inc. and/or its affiliates is an New York general liability agency licensed to sell certain insurance products and may receive compensation from insurance companies for such sales. Policy obligations are the sole responsibility of the issuing insurance company. Your commercial lease might require general liability insuranceIf you plan to lease commercial space, your landlord could also insist on seeing your general liability insurance certificate. Coverage is often required because it shows you will have the financial protection needed to cover expenses related to property damage or injuries related to your business at the leased space.

Consult with your insurance professional about what type of coverage you need and how much. If your general liability policy, BOP or CPP do not provide sufficient coverage, you may want to consider purchasing a commercial excess policy, which will provide additional protection. Workers comp insurance pays for medical costs, lost wages, disability benefits, death benefits, re-training costs, etc. if and when an employee gets injured or becomes ill at work. It means that regardless who is at fault when accidents happen, employees still receive benefits. You should always have workers comp insurance coverage for employees in New York if you don’t want to pay these benefits out of pocket. Learn more atthe best workers comp insurance companies in New York.

Xtend Endorsements provide broadened liability coverage for auto dealers, architects and engineers, colleges and schools, technology, healthcare and service industry providers. Don’t let a liability claim derail the plans and aspirations you have for your business. To get started with general liability and other business insurance solutions, contact a Travelers independent agent or visit travelers.com. Learn more about commercial general liability insurance with the information below orfind an agent for a commercial general liability insurance quote. Learn about general liability insurance with more frequently asked questions about our coverage. If you don’t find the answers you’re looking for, our licensed insurance advisors are standing by to help.

A good rule of thumb for most small businesses is between $500,000 and $1 million. However, if yours is a high-risk business such as the building trades or has a high volume of interaction with the public such as a retail business, you should consider increasing your coverage. Note that if you operate out of your home, your homeowner’s or renter’s insurance has limited coverage for business liability and loss. The cost you pay for general liability insurance depends on your coverage limits.

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