Whether you’ve built your business from the ground-up or you purchased an established one, you’re going to want to protect your investment, and that’s where business insurance comes into play.
“On the very basic level, business insurance, more commonly referred to as commercial insurance, is protection against risks, such as lawsuits and claims as a result of bodily injury or property damage to others,” says Amy McCormick, Blue Line Insurance Agency Licensed Commercial Lines Agent.
There are many types of commercial insurance, each built to serve a wide range of business needs. Each policy covers specific risks that your business might face. They can include general liability, business owners’ policies, commercial package policies, commercial property coverage, professional liability and commercial auto, to name the most common.
Amy also says many companies are beginning to carry Cyber Liability Insurance.
“Cyber Crime is now a major concern across all businesses, and it should be. It's not a question of if your business will be a victim, but rather when,” she notes. “Cyber Liability Insurance is designed to cover the costs associated with data breaches and cyber-attacks on your business.”
In New York State there are no laws that require commercial insurance coverage for businesses, however; employers are required to carry workers compensation and disability and Paid Family Leave Act coverage.
“Workers compensation policies pay out benefits to workers who become injured, ill or disabled in the workplace,” she says. “The Paid Family Leave provides eligible employees job-protected time off for the birth of a child, to care for an ill family member or help a loved one when a spouse, child or parent is deployed abroad on active military service.”
When it comes to choosing commercial insurance, there are several factors that determine its cost. In many cases, it only takes about 10 minutes to get started.
“This can include the company’s history, annual payroll amounts, number of employees and annual gross sales. The amount of building and property coverage and the businesses’ classification are also used to determine the premium’s cost,” Amy adds. “Whether you currently have coverage in force, or you are looking to obtain coverage for a new business, I can gather the necessary details to start the quoting process with a multitude of carriers.”
Blue Line Insurance Agency, an independent agency, prides itself in evaluating your business insurance needs. The agency takes the time to find out the different challenges your industry may have for insurance concerns and tailors a package that fits your risks. We also look at other exposures your business may have according to your personnel, location and future plans.
Our top-rated companies work with local businesses as well as global providers to ensure even the worst disaster won't affect your business adversely.
For a FREE Commercial Insurance quote visit www.bluelineagency.com, or call Amy at 518-523-4321.