If you own your own business of any size in the state of New York you want to be knowledgeable about New York insurance requirements. The good news is that the state’s commercial insurance requirements are straightforward and serve to protect business owners and their employees. At Toedt Insurance Agency LLC we serve Albany, NY and the surrounding areas with insurance services for businesses, homes, autos, and more. We will be happy to answer any questions you may have about coverage.
How Much Commercial Insurance Does Your Business Need?
The basic requirements for insurance for New York businesses are Worker’s Compensation and Disability for each and every employee (even if that employee is family), and commercial auto insurance if you use a company vehicle. These policies are easy to purchase and cover the basic needs of a business.
However, a wise business owner will look further than the basic legal requirements for insurance and add specific coverage for the unique risks and needs of their business. For example, if your business stores a significant amount of inventory, you may want to increase insurance on the building and its contents, if you work one on one with clients you have an increased liability and may need coverage for your protection. If you work with large sums of money it only makes sense to have specific coverage that protects your business in case of theft or fraud. You may be surprised at the individualized policies available for your specific business needs and unique risks.
Contact Us Today
If you own and business in or around Albany, NY contact us at Toedt Insurance Agency LLC to discuss your commercial insurance needs today.