Health insurance is on many minds these days. If you run a small business, you have a better chance at attracting good, loyal employees if you are able to offer them good benefits such as a health insurance plan. You may be able to find a group plan that you can offer your employees as many small businesses do. Usually employees do not have to pay for this policy themselves unless they want to include family members under the plan. You may also look into various professional and trade organizations to see if you can get good health insurance rates with your affiliation.
Another type of commercial insurance NY professionals will need to consider is errors and omissions insurance. All professionals need to have general liability insurance and property insurance, but these policies are not enough to fully protect your practice. An errors and omissions policy will protect you in the case of a lawsuit. A client may claim that your business made an error that had negative repercussions or did not adequately fulfill the terms of the contract. Your policy will pay your legal defense fees and any damages that may be awarded up to a specified amount. However, this type of policy usually does not cover punitive damages.
Commercial insurance NY that professionals need to have is errors and omissions coverage. You may already have general liability and property insurance but they are not enough to fully protect your business. If someone brings a lawsuit or claim against you, you will need to have errors and omissions insurance or you could go bankrupt defending yourself. Whether or not you made a mistake or did something wrong, you would still have legal fees if someone sues you. With e & o insurance, your legal defense would be paid up to the limits of your policy.
Not only do you have to insure your building and your property, but also any vehicles you or your employees use in the performance of your business. Be sure that you carry enough coverage in the event of any accidents with your vehicles, and that each employee is covered. Other commercial insurance NY may require that you carry, is unemployment insurance, workers' compensation insurance, or whatever the NY law says you need to conduct business.
In order to be sure that you are fully covered and in compliance with all the NY laws and regulations, as well as the insurance you need to protect yourself, contact a licensed agent for complete information. Find an insurance broker or an independent agent who is able to represent several companies rather than just one insurer. These agents or brokers can search through all their agencies to find coverage that meets your needs and is affordable for you. You also want an agent that does not specialize on just one kind of insurance, but has knowledge of all insurance to help you make the best possible choices.
