Do Small Businesses Need Insurance?

Whether you run a bodega, a salon, a consulting firm, or a contracting business, the answer is almost always yes. New York City has specific requirements, and one lawsuit or accident can wipe out years of work.

General liability insurance protects against the most common claims: a customer slipping in your shop, accidental damage to a client's property, or product-related injuries.

If you have employees, workers' compensation is required by New York State. It covers medical costs and lost wages if a worker is hurt on the job.

Professional liability (also called errors and omissions) protects service-based businesses against claims of mistakes or bad advice. If you offer expertise, you need it.

Many small businesses also benefit from a Business Owner's Policy (BOP) that bundles general liability, property, and business interruption coverage at a discounted rate. We help you compare carriers to find the right fit for your industry and budget.