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As a business owner, every transaction you complete can result in either a profit, or a risk.
Protecting your business from the impact of potential customer lawsuits should be the first order of business. And while only a precisely crafted Business liability insurance policy can shield your business from this expense and stress, it’s usually the last thing business owners handle.
Liability insurance covers the costs of legal fees, including court costs and the resulting award, if any is made. Imagine the peace of mind you’d have being free from worry about the attorney costs as the liability case grinds on—and if you’ve got something to take, the plaintiff’s attorneys will often make sure it does.
New York liability insurance is appropriate for any business that could face potential lawsuits. There are four distinct types that you may need, depending on your business, and your tolerance for risk of financial loss:
There are other risk that may be covered, including:
Personal injury should an employee talk to a fellow employee of the shop about one of your clients in a false and unflattering way. The client learns of this discussion and sues for slander. We will cover the subsequent claim, up to your General Liability policy’s limits of liability, and pay for an attorney to defend you if necessary.
Putnam Record Agency specializes in covering professional services, and local businesses like yours. We have everything you need right here, including:
Fast and simple online quotes, or helpful agents, immediate coverage
Because your business faces the unexpected on a daily basis, there are always risks involved. Whether it’s the risk of damage or loss to your property or customers, you can help protect your business from the unexpected with an insurance policy. With the coverage and convenience of business owners insurance, you may be able to minimize property and liability risks so you can focus on the future of your business.
A business owners insurance policy, or BOP, combines business property and business liability insurance into one convenient policy. Your business faces a variety of risks unique to your industry, but there are certain coverages that businesses need regardless of their size or business type. Having a BOP helps you safeguard your business by helping to protect what you’ve built.
The first type of coverage in a BOP is property insurance. Property insurance may cover risks associated with your premises, equipment, and vehicles. In addition, it may often include any associated loss of business. This is essential coverage because it may help protect your business, assets, and income. For instance, here are a few of the coverages to consider in your business owners insurance policy:
The second type of coverage in a BOP is business liability insurance. Business liability insurance may cover personal injuries to people you deal with and damages to their property. However, it’s important to note that liability insurance usually doesn’t cover risks related to professional services—meaning damages that result from you giving clients inaccurate advice, for instance. The liability coverage included in your business owners insurance policy is important, especially if:
Getting a business owners insurance policy means covering these risks in a single policy, which may significantly reduce stress and help bring you peace of mind. Policies are typically tailored to help cover your specific needs, and pricing varies depending on your business. However, it’s usually cheaper than buying separate policies for both commercial property and liability coverage.
Finding a business owners policy that works for your specific business is important so you can help protect your business, income, and assets. With this protection, you can worry less about the risks involved in your business day-to-day, and put more of a focus on the future of your business.
If you run a business, consider the benefits of a business owners insurance policy. Contact us to go over your business needs and coverage options.
You may think you want the cheapest insurance you can find, but realize you may not be getting everything you bargained for …
While most insurance products are similar in price and function, insurance providers are very different when it comes to structuring a policy that actually covers you.
There’s no such thing as a one-size-fits-all insurance policy when it comes to your business.
We’re your neighbors. We protect people we know and care about in New York, and that means we always look for ways to protect you better, including carefully choosing the insurance companies we represent to be both affordable and responsive.
Click on the quote request button now and let the professionals at Putnam Record Insurance help you forge the strongest shield possible to help you protect the things you care about most.