If you ask us, small business insurance is one of the most important investments a business owner in New York makes. Be prepared for anything when you protect yourself with small business insurance in New York.
We are your partner in safeguarding your small business in New York. Whether you own a shop in Manhattan, a restaurant in Brooklyn, or an online store based out of Queens, we have the small business insurance policy for you.
These insurance policies protect you and your company from financial harm, which can come from various unforeseen circumstances, like property damage or an employee injured on the job.
This coverage can safeguard against:
Although the specifics can vary, small business insurance policies typically cover things like:
Along with the basics, you should consider a few more protections when deciding on insurance for your small business in NYC.
Cyber liability coverage is becoming increasingly important in our modern world. This coverage will protect your business from various costs that come with cyber issues. Now more than ever, you need to consider the physical and financial risks cyberattacks pose.
For example:
EPLI isn’t legally required in any state, but after reviewing many of our small business clients’ needs, we often find its protections would be helpful. New York has a higher than average number of legal disputes over business environments, and EPLI can provide coverage for legal costs associated with potential employee-related disputes, including:
Does your business use vehicles for business-related activities? If so, it’s essential to protect them with commercial auto insurance!
This coverage can help pay for medical bills if someone gets injured in an accident. It applies to damages you or your employees cause while operating a company vehicle. It may even cover a rental car’s cost if you need repairs after an incident.
You may own a laundromat, and the business beside you is a dog grooming company. As you can imagine, you’re bound to have different insurance needs! With that in mind, the cost of your coverage will differ too.
Business insurance premiums are calculated based on factors that vary from business to business.
They can include:
When searching for small business insurance in New York, hundreds of options will come up. So what makes us so confident HCP Insurance is the right choice for your New York-based small business?
At HCP Insurance, we understand the unique needs of small business owners in New York. We specialize in custom-tailored policies to fit your business’s coverage requirements and budget. After all, we’re small business owners ourselves. We have lived and worked in the NYC community for decades, so we know what it means to be a business owner in The Big Apple.
Our team strives to provide the highest quality customer service while we get you the best coverage for your business at an affordable cost. Plus, we offer services such as risk management advice and claims assistance to protect your business entirely.
Finding that sweet spot between how much coverage you need versus how much you can afford is challenging. But with our help, you’ll strike the perfect balance and get the coverage you need without breaking the bank!
Still curious about the ins and outs of small business insurance in NYC? Here are some of the most common questions business owners ask:
Let’s say you own a pie shop. One day you show up to find a power outage, and your fridges/freezers stopped working, rendering your pies inedible. Without your inventory, operating your business as usual will be tough.
This is one example of where business interruption insurance comes into play. Until your pie shop is back up and running, it gives you the means to continue meeting your financial obligations.
Great question, and the answer, for the vast majority of businesses, is yes. Protecting yourself from lawsuits with liability coverage can make or break your business. That way, if someone were to sue you or your business, it won’t put your finances and assets at risk.
For most businesses, the answer to this question is also yes: if your business collects customer data or uses other people’s data in any way, data breach coverage proves to be very helpful. Cyber liability coverage helps you recover from and respond to these incidents quickly and effectively.
Yes! Home businesses are just as likely to face legal issues, property damage, and other risks that come with running a business.
This depends on the type of coverage you buy, but it certainly can! One example is professional liability (errors and omissions) insurance. Its coverage applies to negligence claims or errors in professional services you provide or products you sell.
Insurance providers consider many factors when calculating premiums, including the type of business, industry, location, revenue, number of employees, coverage limits, deductible amounts, and the level of risk associated with the business’s operations.
The unexpected happens every day, and as a small business owner, you need to be prepared. A customer or employee could get injured at your business. One of your drivers could get into a car accident, or your NY business could become the subject of a lawsuit. Small business insurance is designed to cover you for the unexpected so you can continue operating no matter what happens. Some types of insurance may be required by law to operate certain businesses in New York State.
As we mentioned, some types of small business insurance may be required by law in NYC. For example, if you have employees, you will need to carry worker’s compensation insurance. This will allow you to cover your employees’ expenses if they should ever get injured while on the job. If you use any vehicles to run your business, you will need to carry commercial auto coverage. While these are the bare minimums of insurance coverage required to operate a small business in NY, you may also want to look into additional coverage that will offer more protection.
At HCP Insurance, we know that running a small business is always a balancing act. You have payroll to cover, invoices to pay, supplies to buy, and so much more. That’s why we do everything we can to make small business insurance affordable for you. That includes the ability to customize your policy so you pay only for the coverage you need. While we do offer business owner’s insurance policy bundles that allow you to save money on comprehensive coverage, we know that not every small business owner needs all that insurance.
When you talk to our agents, they can recommend a range of coverage options for your small business in NYC. If you are required to carry a commercial auto policy but aren’t all that concerned about cyberattacks, we can help you find a policy that covers just the items you need. If your situation changes in the future, updating your coverage is just a matter of getting in touch with your agent and adding new policies.
We hope that you never need to use your small business insurance, but if you do, making a claim is as simple as calling your agent. Your agent will be happy to explain your coverage to you and tell you what you need to do moving forward. If you have any questions, they will give you the answers in simple terms without using a lot of industry jargon like many other insurance companies in New York. At HCP Insurance, we believe that small business insurance should be accessible to everyone, and we strive to make that a reality for all our customers.
Call us today if you are interested in general liability insurance in NY or any other coverage you need.
No matter what kind of small business you own, HCP Insurance helps you find the right coverage to keep it safe.
the size and scope of your business
the industry you’re in
how many people you employ
the amount of coverage you choose
if your company operates remotely or out of a physical location
