SEI knows that if you work in the construction industry, you are part of one of the world’s most dangerous businesses. Typically, full contractual means the insured will have no contractual limitations or labor law exclusions in their policy. Incidentally, if you already have general liability coverage, we’d be happy to give you a complimentary policy review to ensure that you’re not being overcharged for the coverages included in your existing policy. Unfortunately, the chances of your company getting sued have increased dramatically in the last decade, and the costs of tort litigation are especially burdensome to small businesses. Chamber Institute for Legal Reform, “”The tort liability price tag for small businesses in America in 2008 was $105.4 billion.”” There are more than 450,000 small businesses in New York state, which make up over $950 million dollars in revenue.
Or, you are pulling into a driveway of a client’s home and misjudge the distance to the neighbor’s mailbox and plow right into it. Business Insiderranks New York the 28thout of the fifty states in a list of the best states to start a business. New York has one of the highest tax rates and costs of living in the country. However, it has one of the highest rate of new entrepreneurs thanks to the massive opportunities in the state. Shop around for the best value.Get quotes from a few companies or compare the multiple quotes generated by a service like CoverWallet.
Our commercial auto New York general liability insurance policies are offered through a Berkshire Hathaway subsidiary. Business interruption insurance can provide sufficient funds to pay your fixed expenses and lost business income during a period of time when your business is not operational. Business income means the net income that would have been earned or incurred, as well as continuing normal operating expenses incurred, including payroll. Extra expense coverage will reimburse you for covered expenses while temporarily relocated at another premise during your reconstruction due to a covered loss. NY general liability insurance protects your business against property damage, advertising injury claims, personal injury claims, and bodily injury claims.
You can apply online and within a few minutes get and compare several quotes in the same place. 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.
UNAUTHORIZED/NON-LICENSED/ NON-ADMITTED— Insurance companies that are not licensed by New York. RIDER— Term used in insurance contracts to describe a document that amends or changes the original policy. FOREIGN INSURERS— Insurance companies domiciled in a state other than New York, but may be licensed by New York. DOMESTIC INSURERS— Insurance companies domiciled and licensed in New York State.
If you have employees, Falcone Agency recommends considering this type of coverage. Seven-figure verdicts are not uncommon in construction-related cases. This includes assistance with contractual risk transfers – reviewing insurance requirements, certificates of insurance and other documents – to maximize the transfer of risk to downstream parties. Additionally, Gramercy provides risk control and safety services designed to help insureds provide a safe work place for employees and others.
Our agency works with each of our carriers to offer more flexible payment options designed to help improve business cash flow. Commercial auto provides liability and physical damage coverage for your business vehicles. Most personal auto policies don’t cover vehicles used for business, which includes transporting supplies or traveling between job sites. We work for you, not the insurance companies, so it’s mutually beneficial to allow us to do the legwork for you.
Consider increasing your deductible to reduce your premium, and spend the savings by increasing your coverage. Learn the difference between replacement cost, actual cash value, agreed amount and functional replacement cost. The State of New York is famed for industry, particularly Manhattan and the surrounding areas. As such, it’s no wonder why so many entrepreneurs look to do business in this state. Experience the total flexibility of your policy anywhere, anytime, in an instant.