Three Basic Insurance Policies For New Businesses

Are you in the process of finding the business insurance in Babylon NY? Even with all the coverage options available to you, there are a few important ones that you should make a priority to include in your new policy.

Liability Insurance

The overall mission of liability insurance is to protect your company against lawsuits from third parties. Perhaps the two most popular forms of liability insurance are a general and professional liability. General liability primarily covers claims where bodily injury or property damage are involved while professional liability primarily deals with claims of error or omission that resulted in a loss for the third party. There may be some gray areas when dealing with liability claims, but your policy can be more specific as to the benefits provided by each coverage.

Property Insurance

Property insurance protects the things that keep your business running every day. Your building, equipment, furniture, and data can all be covered in case disaster were to strike your company. Your policy would cover the costs to repair or replace these items.

Worker’s Compensation Insurance

As seen on, the State of New York requires that employers carry workers’ compensation for their employees, with just a few exceptions. This means that if you have any employees, whether full- or part-time, you’re required to have coverage or face penalties.
With these coverages in your policy, you’ll have your business activities, property and employees protected. If you need more specific coverages, work with an experienced agent to build a policy that meets your exact needs.