Business insurance & workers’ compensation in Upstate New York

Business insurance in New York

Business insurance in New York is a type of insurance coverage that protects businesses against potential financial losses due to unforeseen events such as accidents, lawsuits, and natural disasters.

There are different types of business insurance policies available in New York, including:

• General liability insurance – Covers claims of bodily injury or property damage caused by the business’ operations or products.
• Commercial property insurance – Covers damage or loss to commercial buildings and their contents, such as inventory, equipment, and furnishings.
• Business interruption insurance – Covers lost income and expenses resulting from a covered event that disrupts the normal operation of the business.
• Professional liability insurance (errors and omissions) – Covers claims against a business for errors or omissions in the services provided.
• Workers’ compensation insurance – Covers medical expenses and lost wages for employees who are injured or become ill as a result of their job.
• Cyber liability insurance – Covers the costs associated with a data breach or cyber attack, including notification and credit monitoring services for affected customers.
• Product liability insurance – Covers claims against a business for injury or damage caused by a product that the business sells.
• Employment practices liability (EPLI) – Covers claims of wrongful termination, discrimination or harassment.
• Commercial umbrella – Extra liability limits over your GL, auto and employer’s liability.

The type and amount of business insurance needed will depend on several factors, including the size and type of business, the industry, and the level of risk involved. It is important for business owners in New York to work with a knowledgeable insurance broker or agent to assess their insurance needs and choose the coverage that best fits their needs and budget.

Business insurance vs. commercial insurance — what’s the difference?

Nothing, in practice; they are two names for the same family of coverage. We keep a separate commercial insurance page focused on contractors, restaurants, fleets and property owners, and this page for the full menu of business coverages — professional liability, cyber, EPLI, key-person life and the business owner policy (BOP) that bundles the essentials for offices, shops and service firms.

Protecting the owner, not just the business

Many of our business clients also use us for key-person and buy-sell life insurance, disability income, and retirement plans through the New York Life Professional Alliance Program — so the business survives the loss of the person who built it.

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Frequently asked questions

Where we write business insurance

From Hudson Falls and Galway we serve all of Washington, Warren, Saratoga, Fulton and Schenectady County — and anywhere in New York State.