Commercial general liability insurance protects your business in the event that someone makes a claim against it for bodily harm or property damage. On a daily basis, your company touches the lives of many people, including contractors, clients, customers and the general public. And, at any given point, one or several of these people could claim that your business has caused them bodily injury or property damage and initiate legal recourse. Travelers helps you prepare and protect against these types of risks with our wide range of general and business liability New York general liability solutions Understanding this coverage is an important first step in managing CGL risks. If it’s possible that someone could claim bodily injury or property damage due to your business operations, your employees’ actions or your services or products, you should have general liability insurance.
Sometimes this can be added to a Commercial Property, BOP, or Commercial Package policy, but other times it may be a separate policy. It will depend on your circumstances and an experienced insurance agent can help to determine what is right for you. Advertising Liability – Do you advertise for your contracting business at all? Even if it is just on social media, you could unknowingly cause damages to another business by what you post. Your competitors may be watching and if they feel that something you posted resulted in financial damages to them, like loss of business, they can sue you for that in addition to libel, slander, and defamation.
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. Legal Defense and Judgments– costs to defend against real and frivolous suits and judgments up to the limit of your coverage. Note this generally does not include punitive damages for negligence or willful misconduct. A small business is defined as any company with fewer than 500 employees.
There are many different plans and options when choosing a General Liability plan, and our experienced agents at The Cesar Group, Inc can assist you in finding the right plan at the right budget. If you have the right liability insurance plan in place, you can be protected if you face a lawsuit. Certain Buffalo, New York businesses face more risk of accidents or injuries, so doing an analysis of your business can help in finding the best General Liability plan that fits your needs. The Empire State boasts one of the largest economies not just in America, but the entire world. If you’re serious about starting your business in New York, take some time to consider what kinds of insurance coverage you’ll need. Being covered means you can focus on growing your company without worrying about expensive insurance claims.
To find out more about these, as well as other business insurance products and services, call us and we’ll help make sure you’re properly covered. 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.
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. Out of 1,000 points, they earned 868, which takes into account price, products offered, customer service and claims. They have fourteen industry specialties to choose from, with a wide range of business insurance products. To get a quote, you fill out an online form and someone will get back to you, or you can call.
You’ll also want to be careful about using images, music, and other intellectual property to avoid copyright infringement claims. Though you can’t eliminate every risk, these steps help avoid conflicts that lead to third-party lawsuits. The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice.
Protect yourself from accidents that cause physical injury or damaged property. We offer seven types so it’s easy to design the coverage that fits your business. For example, a carpenter who takes saws and other tools to different locations is more likely to have an accident that would be covered by general liability than a tutor who mostly works at a desk with students. That’s why carpenter insurance is usually more expensive than tutor insurance.
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