This can include legal fees and damages for suits such as wrongful termination, discrimination, sexual harassment, and other alleged violations of employees’ legal rights. If you have employees, Falcone Agency recommends considering this type of coverage. 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.
The consultant is paid by the buyer, based on a contract or agreement. PROFESSIONAL LIABILITYis incurred by a professional such as a physician, nurse, attorney, or architect for negligent acts occurring as professional, services are performed. The Department of Financial Services recognizes that small businesses are the backbone of our economy. As doing business online becomes indispensable, it is essential that small businesses protect themselves and their customers from cybercrime. Arts and RecreationRead up on New York arts and recreation commercial New York liability insurance
New York general liability insurance is required by the state for most business owners. GL coverage is designed to protect NY business owners from direct or indirect damages to another party. Your liability insurance helps pay for those damages caused by the actions of your business, or your employees.
Falcone Agency recommends that all professional and technology companies have E&O coverage. 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.
Cyber insurance protects against incidents like data breaches and cyber attacks. It includes first and third-party protection for things like investigative services, data recovery and legal costs. Businesses that store or manage credit card numbers should consider this coverage. We take care of New York construction insurance better than anyone else. Get a custom-built package of construction insurance coverage from BNC, an independent insurance agency specializing in the construction industry.
We willnever accept out-of-state vehicle insurance coverage of any type. If your vehicle is registered in New York, it must have New York State auto liability insurance coverage. Use the information listed below as a guide to help select specific insurance coverage most appropriate to protecting your operation from financial disaster. 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.
Typically, full contractual means the insured will have no contractual limitations or labor law exclusions in their policy. This coverage can be purchased as an add-on to a general liability, professional liability, or BOP policy. It helps cover costs related to system hacks or data security breaches in which sensitive information has been stolen and fraud has occurred or there is a reasonable expectation that it might occur. Many people who work in small business insurance say if you can only afford one type of insurance, you should get a general liability policy. It makes sense, because you don’t even need to have done anything wrong for someone to sue you these days. Workers compensation insuranceis required in New York if you have even just one employee.
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. 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.