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Securing Your Albany Enterprise: Why Commercial Insurance is a Must-Have for New York Business Owners

New York business owners in Albany, NY are likely aware of the unique opportunities and challenges of running a business in one of America’s most vibrant cities. If you’re a New Business owner in New York and looking for ways to safeguard your business — be mindful of the importance of having an adequate commercial insurance policy to protect your bottom line from extreme loss.  

Partner with Toedt Insurance Agency LLC in Albany, NY and learn how to protect your business investment! 

Understanding Commercial Business Insurance 

Commercial business insurance is a must-have for New York business owners who want to protect their finances from the devastating effects of legal liability claims, worker’s compensation claims, or cyber-attacks against their businesses. 

Depending on your line of business, you may be legally required to have commercial insurance to meet legal requirements and avoid hefty fines. Commercial insurance can protect your business from general liability-related claims for property damage, personal injury, bodily injury, and more. 

A knowledgeable insurance agent can help you customize a policy to meet your unique business needs. 

NY-area businesses who suddenly find their operations shut down have greater peace of mind when they know they have an active commercial insurance policy with business interruption coverage. Business interruption coverage kicks in when unexpected events like natural disasters, fires, floods, and other unforeseen circumstances disrupt your operations. 

Secure Your Business with Commercial Insurance

Commercial business insurance isn’t an option for most New York businesses — it is necessary to safeguard your business operations, finances, and peace of mind. 

Talk to a licensed insurance agent at Toedt Insurance Agency LLC to learn more about your options for commercial coverage, and request a free quote today! 

Tips to keep your work trucks running smoothly

When it comes to keeping your work truck running smoothly here in the Albany, NY area, there are a few tips from us at Toedt Insurance Agency LLC that we think can help you. 

Tips to keep your work trucks running smoothly

The first is to make sure you are regularly servicing your vehicle and changing any necessary fluids. This includes engine oil, transmission fluid, brake fluid, coolant, and more. Proper maintenance of these fluids helps keep your vehicle running smoothly and prevents costly repairs down the road. 

Another tip is to make sure your tires are properly inflated as this can help improve gas mileage and ensure optimal performance from your truck. Additionally, you’ll want to check the tire pressure every month or two to ensure they’re always at the correct pressure level. 

You’ll also want to be sure to have regular tune-ups done on your truck as well as any repairs that may come up. Regular maintenance will go a long way in ensuring that your work truck runs smoothly and efficiently for years to come. 

Finally, be sure to use quality parts when making any replacements or repairs on the truck. Using inferior parts could result in greater costs down the line when it comes time for repairs or replacements again soon after using subpar parts originally. 

Reach Out To Us

By following these simple tips, you can rest assured knowing that your work truck will stay in top condition for a long time; always running smoothly for all of those upcoming jobs. For more tips, give us at Toedt Insurance Agency LLC a call today. We are proud to serve the people of the Albany, NY area and would be happy to find a policy that will keep your business covered.

Do Single Employee Businesses Need Commercial Insurance?

If you own a business company, you need the right commercial insurance coverage. It’s an important tool that offers protection from risks. Anyone living in Albany, NY area can count on Toedt Insurance Agency LLC to provide them with quality insurance products that provide security and peace of mind. 

Commercial Insurance Protection 

Whether you are a single-person business or you have a large employee base, you’ll need adequate commercial insurance coverage to protect you from liability and other covered risks. Businesses, large and small businesses face various risks to their well-being and can incur losses without the right insurance coverage. Anyone currently interested in finding commercial insurance products that meet their needs can consult with one of our expert insurance agents, who can carefully assess their situation to determine their needs.

Once an agent has a clear picture of the situation, they can recommend insurance products that meet and exceed the client’s needs. We assist with product selection and provide ongoing support throughout the policy’s lifetime, even if there’s a submission of a claim. Our goal is to provide the best customer service to ensure our clients have the support they need to protect their businesses and the most important things.

Reach Out Today 

Anyone in the Albany, NY area interested in securing top-quality commercial insurance for their business can count on the expert support and guidance from Toedt Insurance Agency LLC. We look forward to serving the community members to help them protect their businesses and other interests. Call or stop by our office today to speak to one of our friendly representatives or to schedule an appointment for a consultation.

How commercial insurance can save your small business

Small businesses face lots of challenges every day. The risk level for failure is very high. While commercial insurance can’t protect you from everything, it offers a variety of lines that can come in very handy. At Toedt Insurance Agency LLC in Albany, NY, our team of insurance experts can help discuss your commercial insurance needs and determine the coverage that offers the most protection. 

How commercial insurance can save your small business

Commercial liability insurance

One of the biggest perils that businesses face and small businesses in particular is the danger of being sued. It is so common that about 30% of all businesses will be sued in any given year. In an atmosphere where suing is something that can bankrupt your small business, protecting yourself is vital. With commercial liability coverage, you will be able to pay a judgment up to the limit of your policy and also the legal cost associated with it. 

Commercial property insurance coverage

Commercial property insurance is different from individual home property insurance. Not only does it cover the physical building, but it also covers all the things you use to do business. This makes it valuable coverage for renters as well as building owners. It covers your tools, your machines, your office equipment, display cases and racks, raw materials, inventory, and lots more. 

Business interruption insurance

When something happens to your business to make it close its doors for the short term, income may come to a halt. Unfortunately, your expenses usually don’t. If you don’t have business interruption insurance coverage, you may not be able to recover from a temporary closure. It can help you to pay your bills and even payroll. It is a lifesaver. 

Give Us A Call

Contact Toedt Insurance Agency LLC in Albany, NY when you need to talk about the benefits of commercial insurance for your small business. 

Commercial Insurance Considerations For Your Growing Business

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. 


Accurately stating a building’s replacement cost or actual cash value with an adequate and current valuation has always been important for insureds. High inflation and supply chain constraints have further complicated matters making proper building valuation more important than ever.

The consequences of an undervalued building could have big implications for insureds, in the form of potentially large out-of-pocket expenses. Accurately stating a building’s replacement cost is important in order to help ensure that you-the insured have the level of protection you expect and need.

Common misperceptions with valuation
Misperception #1: Purchase price or market value reflects an accurate value for a building’s replacement cost.
o The price of the building or current market value may not be an accurate reflection of its replacement cost.
Misperception #2: Tax and mortgage costs show a building’s value.
o Assessed value for tax purposes can be vastly different from the cost of materials and labor to repair or replace building when it’s damaged.
o Similarly, appraisals performed to establish loans are typically performed at the beginning of the loan term and not updated until the financing program is renegotiated.
• Misperception #3: Keeping a valuation as is, despite inflation, will be fine.
o Property market dynamics vary, but if insured value does not increase over the course of a few years, there is a strong possibility it is undervalued. This dynamic is even more relevant in the current inflationary environment.
Misperception #4: Buildings should be valued at the minimum amount required in the coinsurance clause.
o Coinsurance clauses in property policies allow for a buffer in the valuation, to help protect the policyholder in a situation where the value fluctuates over the policy period. Insuring a building at the minimum amount required by the coinsurance clause can increase the risk to the insured because using the minimum does not allow for common material and labor cost fluctuations.

Below is a simple example of how a valuation change can negatively affect a property owner:
• A commercial office building insured for $600,000 when the owner purchased it appreciates in value a few years later and suffers a total loss from a fire, costing $1M to replace. The property policy has scheduled limits of $600,000, meaning the insurer will pay a maximum amount of $600,000 for the claim (additional co-insurance penalties may apply). The building owner therefore faces at least $400,000 in out-of-pocket costs to rebuild.

It’s important that you-the insured knows that replacement costs have, in most instances, drastically increased in today’s market. Using values from prior years presents you-the insured with a significant risk. Our team of educated property professionals at Toedt Insurance Agency, LLC is here to help. We’ll help you use historical valuations, current local cost per square foot pricing and site specific details to arrive at an appropriate valuation. Contact Us Today!


Welcome to all our past, present and future customers. This blog is the place you can come to find out about every type of insurance, why it’s important, whether or not you need it, what does it do and can you get it at a good price. Our 35+ years of experience on the company and agency sides will guide you in making the best decisions for your family or business. Stay tuned as we’ll be posting weekly.

Partner Carriers

  • American Modern
  • AM Trust
  • CNA
  • Foremost
  • Hagerty
  • Lancer Insurance Company
  • Lemonade
  • Liberty Mutual
  • Main Street America
  • Midstate Mutual
  • National Benefit Life
  • National General
  • NYCM
  • Progressive Commercial
  • RLI
  • Safeco
  • Shelter Point Life Insurance Company
  • Standard Security Life
  • Utica First