The Facts About Commercial Insurance

Small businesses form the backbone of the economy, but they remain vulnerable. One unfortunate event could be enough to drain an owner’s bank account and cripple the company in the process. Bouncing back from that can prove remarkably difficult.

As a business owner, you should know that you don’t have to accept that level of risk. There are ways for you to protect the investments you’ve made in your business. For example, you can purchase commercial insurance to protect your small business.

At The New Rochelle Agencies, we can present you with a wide array of commercial insurance plans. Check out what we have to offer and pick the one that works best for your business.

Are Small Business Owners in New York Required to Purchase Commercial Insurance?

Let’s address the question that’s likely on your mind if you own a business operating in New York. Are business owners in New York State required to purchase commercial insurance? Your answer to that question will depend on what kind of business you are running.

Start by considering your workforce. You will need to carry workers’ compensation and disability benefits if you have employees. A small business owner may also have to purchase insurance before a landlord rents out a property. Any vehicles you use for business-related purposes must also be insured. Lastly, investors may require you to buy insurance if you want them to commit to your business.

The list of insurance requirements for business owners can be quite long. Make things easier for yourself by purchasing a commercial insurance plan that covers all aspects of your business operations.

Choosing the Right Type of Commercial Insurance

Commercial insurance plans can vary significantly. Identifying the specific insurance plan that fits your business best will require extensive research. You may not have enough time for that if you’re also running a business.

Instead of conducting that research, you can seek to form a partnership with an insurer you trust. At The New Rochelle Agencies, we can craft the commercial insurance policy that suits your business perfectly. Get in touch with us today if that sounds like something that will interest you!

We are based in New Rochelle and the Larchmont areas and are licensed to sell Insurance in the States of NJ and NY.