An umbrella policy

General liability insurance for contractors is very expensive in New York. If you decide to buy a general liability insurance policy through them, you can get the certificate of insurance digitally and immediately. You can also use their great digital dashboard to manage all of your business New York general liability insurance policies in one place.

Do you have an office in which any person at all, customer or postman, visits? Regardless of whether you are on your premises or at a job site you are liable for any bodily injury that may occur to another person. For example, if the postman brings your mail and you failed to fix cracks in your porch leading up to the door and they tip and get injured, you will be responsible for the damages. Additionally, if a customer or food delivery person walks on your job site and is injured, you are liable for that as well.

It’s bad news for you, unless you have adequate limits of liability coverage. An umbrella policy kicks in only when the limit of the basic, underlying policy is reached. Buy an umbrella policy and you can dramatically extend your coverage for a relatively small additional cost. That’s your decision, and your answer should hinge on the total value of your assets. Your insurance agent should be able to guide you in picking an amount of coverage that will bring you peace of mind.

Read informative articles on New York small business insurance coverages – and how they can help shield your company from legal liabilities. A typical small business in New York can expect to pay anywhere between $300 and $5,000 annually for their general liability policy. The final cost of liability coverage from one business to the next will vary significantly based on the SIC code or the insurance company’s own classification system for GL rating. Some additional factors used to develop insurance costs include the nature of your business, your physical location, prior claims experience, and your years in business.

Rate hikes are inevitable as the insurance companies are trying to remain profitable, while being held to an impossible standard. Our experts pride themselves not only on their knowledge of insurance, but also on their expertise in specific industries. Understanding our clients’ businesses to better help them is a top priority at OneGroup. Take advantage of discounts.If they’re not offered to you when getting a quote, ask about them, whether you’re buying online or through an agent.

However, your employers and/or your clients might require you to have it before they can employ you. New York actually has the most expensive malpractice insurance rate in the country. If you are an LLC in New York, you should know the business climate has some of the highest taxes in the nation, not to mention red tape and union workers. On the other hand, the workforce is educated and the unemployment rate is low. You must register your vehicle at the DMV within 180 days of the effective date on your insurance ID card.