When it comes to safeguarding your most valuable investment, it is imperative that you must obtain the right business insurance in Astoria, NY. Deciding between the various types of business insurance quotes in New York is tedious, but it will directly depend on the type of business you run and the protection you seek. Gathered is a list of the different kinds of business insurance policies and what you need to know:
Bonds are similar to insurance policies but unique in that they guarantee that a specific task will be discharged, performance will be maintained, or an obligation will be fulfilled. There are different types of bonds, including fidelity and surety. The one you utilize will depend on your immediate need for the bond.
Business Income Interruption
To prepare your business for the uncertain future, you must hold business income interruption coverage. This form of insurance will provide you with protection should a disaster cause your business to halt operations for a period of time. This insurance policy includes coverage for fixed expenses, payroll, and the expense of temporarily relocating to continue business operations during a phase of recovery. Since we can never be too sure of an accident’s arrival, this is a vital policy for businesses of all shapes and sizes to hold.
Business Owners’ Policy
The standard business owners’ policy includes property insurance, crime insurance, vehicle coverage, liability insurance, flood insurance, and business interruption coverage. A BOP policy is the most effective way to gain a wide range of coverages under one policy.
Commercial Auto Insurance
Businesses that use any form of commercialized vehicles to conduct business operations must gain insurance protection. For example, whether you permit employees to use their cars, have a fleet of delivery vans, or only use a van for catering purposes, you must obtain commercial auto insurance.
Commercial General Liability
This form of insurance provides you with protection against liability risks such as products-completed operations, premises and operations, and indirect/contingent liability. In today’s litigious society, it is a mistake to forgo this vital form of security.
This vital safeguard protects you from the uncertainty of your team. When you obtain commercial crime insurance, you receive coverage for losses and claims arising from employee dishonesty or fraudulent acts, such as burglary, forgery, computer fraud, and extortion.
Commercial Package Policy
This package policy is perfect for medium-sized to larger businesses, as it addresses the complex needs of businesses that go beyond a business owners’ policy.
Directors and Officers Coverage
This form of insurance provides the directors and officers of a business with protection against claims filed against them by employees, competitors, stockholders, creditors, and any other third parties. This insurance policy can also extend to the company itself if the company is named in a D&O liability claim.
Employment Practices Liability
This insurance policy protects the corporation, directors, officers, and employees from any employment-related claims, such as sexual harassment, discrimination, wrongful termination, wrongful discipline, and the failure to employ or promote.
Errors and Omissions Coverage
Often referred to as professional liability insurance, this form of security provides you with protection against allegations regarding your business’ ability to provide an adequate level of professional service, which in turn causes suffering to your client from said failure. This insurance policy will cover the expenses associated with defense against such a claim, as well as any associated costs of settlements or judgments. Since errors and omissions coverage holds no standard form, the terms of these policies can differ dramatically amongst insurers.
Technology Business Package
A technology business package will provide you with specialized tech-specific coverage for broad property and general liability coverage. Options to include specialized tech coverage include commercial auto, workers compensation, and technology professional errors and omissions.
Workers Compensation Insurance
If an employee suffers an injury or illness directly caused by work operations, workers’ compensation will kick in to provide coverage. As an employer, it is important that you offer this peace of mind to your employees and your company as a whole. Workers’ compensation will cover the injured employee’s lost wages, medical bills, rehabilitation, and death benefits. In most states, the law requires this form of protection. Contact 01 Insurance for all your business insurance needs in Astoria, New York. We will go above and beyond to secure you the absolute best policy based on the exclusive needs of your most valuable investment. At 01 Insurance, we encourage you to turn on to savings! Get a business insurance quote now!
My family and I have relied on the services of Community Brokerage for a strong and continuous 30 years. Community Brokerage has always been able to advise and provide me with proper coverage on all my insurance needs. Working with all the employees at Community Brokerage has always been a pleasant, professional and satisfying process!
I have been an insured with 01 Insurance for over 30 years, and needless to say I have been extremely satisfied. The people have always been courteous, responsive, and very professional and caring.
Nicholas Kordas, Esq.
I have always been able to rely on Judith to advise and properly cover all of my insurance needs. She goes out of her way to even remind me when a payment is due so I don’t incur a late fee.
Working with Community Brokerage is always a great experience. Their professionalism and in depth knowledge of Property insurance gives my buyers the best and most cost effective solution for their new home insurance policies.
John S. Lagoudis, MBA
Judy has been handling my business and personal accounts for almost 25 years. It is not only a pleasure dealing with her, it is an incredible feeling knowing she always has my back.
Jaime M. Steiner
For many years now Judy Zimmerman has been an immediate source of insurance advice. She is never too busy to answer my questions, and guide me when my personal needs justified changes.