New York Business Liability Insurance

New York business liability insurance policies protect the interests of owners of businesses of all sizes in the state of NY. Whether you have a small business or large, you can truly benefit from having the protection included in these policies. While the specifics of a plan may vary according to the individual carrier, there are some basics that most plans have in common. When judgments are entered against your company and financial damages awarded to a plaintiff against the company, New York business liability insurance is there to offer great asset protection.

Other fees that are related to court judgment like legal fees, court fines and fees, and even reimbursement for lost productivity on the job are all available. These policies are more than just a plan to help pay you when you see your day in court however. Liability insurance for businesses is much more than that. It combines general, professional, and product liability protection for the company. These three basic parts comprise a tremendous span of coverage, making New York business liability insurance not only a good investment, but a good value as well. Understanding the three parts of a policy also helps potential buyers understand what they are getting for the money so that they can be sure this is really something worth having.

General Liability Coverage

This part of a New York business liability insurance plan is the main coverage element for your company. It is an umbrella policy, meaning a single source of protection covers a lot of different possible threats to the financial well being of the business. Slander and libel are covered, as are personal and property damage. This is the part of the plan that goes into action when someone gets injured on your business property on accident and decides to sue for medical damages and pain and suffering, for example.

It also provides coverage for injuries received due to the intentional actions of the owner or employees. In other words, damage does not have to be accidental for New York business liability insurance to provide coverage. This is a big point to ponder for companies that have employees. You can control your actions, but there is only so much an owner can do to control the actions of everyone else employed at a company. For this reason, it is great to be protected with an umbrella policy that shields you and the corporate assets in such a substantial way. With all that goes on in New York every day, there are always threats and risks, but a good New York policy can give you the protection you need.

Professional Liability Protection

This portion of a New York business liability insurance policy is meant to protect companies that provide services for their customers. Some common examples are doctors, dentists, and hair dressers. In some industries, this coverage is required for everyone who works in the field. It is meant to protect workers in businesses in which there is a high probability that at some time or another a mistake or error of omission might be made leading to an injury either physical or otherwise to the customer.

Being protected in this way is hugely important to doctors and lawyers, for example. The work they do every single day exposes them on a constant basis to threats of liability. Any business that has this much contact with customers and provides them with services can be exposed, however. This is not just insurance meant for attorneys and physicians.

Product Liability Insurance

Product insurance is different from the previous part of a New York business liability insurance plan in that it covers products rather than services. In the hair salon, conditioner that is sold to customers would be covered in this part, while haircuts and any injuries that might accidentally result from them are covered under professional coverage. Any business that sells products might very well end up being sued or otherwise exposed to risk of significant financial loss because of a sale.

Finding low rates on a New York business liability insurance plan is great for New York policyholders. NY businesses maybe more than those in many other states are exposed to negligence threats and other risks all the time. Get your New York company ready by getting quotes from business insurance specialists in New York. Find out how much money you could save on a great New York insurance plan. Companies of all sizes in many different types of industries can all benefit from the protection offered by this coverage. Use the free quote form located at the top of this page to request free estimates and find out about pricing. Save money on New York business liability insurance by comparing prices from leading area insurers

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