Find New York business insurance in three easy steps
Fill out an online application that reaches top carriers
Review insurance requirements in New York
Compare quotes and buy affordable coverage today
Recommended insurance policies for small businesses in New York
These insurance policies defend small business owners in New York state against common lawsuits and other top risks.
General liability insurance
A commercial general liability policy covers common third-party risks for small businesses in New York, including customer property damage and injuries. Commercial leases often require this coverage.
- Customer injuries at your company
- Damaged customer property
- Copyright and defamation lawsuits
Errors and omissions insurance
This policy is also called professional liability insurance. It protects professionals against legal defense costs from mistakes, missed deadlines, and oversights.
- Work errors and oversights
- Professional negligence lawsuits
- Late or incomplete work
Professional liability insurance
This type of coverage protects New York businesses against lawsuits related to the quality of their professional services or advice. It's sometimes referred to as E&O insurance.
- Mistakes and oversights
- Breach of contract
- Missed deadlines
Business owner’s policy
A BOP bundles commercial property insurance and general liability coverage at a discount. It's often the most cost-effective type of business insurance.
- Customer injuries
- Damaged customer property
- Damaged business property
Workers' comp insurance
Workers’ compensation insurance is required for New York businesses that have one or more employees. It can cover medical costs for work injuries.
- Employee medical expenses
- Disability benefits
- Legal costs from employee injuries
Cyber insurance
This policy protects New York small businesses against financial losses from data breaches and cyberattacks. It’s also called cybersecurity insurance.
- Data breach investigations
- Client notification expenses
- Fraud monitoring services
Commercial auto insurance
This policy is required for vehicles owned by New York small businesses. It helps cover the cost of an accident involving your commercial vehicle, including lawsuits from other drivers.
- Injuries caused by your vehicle
- Property damage caused by your vehicle
- Vehicle theft and vandalism
Fidelity bonds
A fidelity bond reimburses your clients in the event of employee theft. Your clients may ask you to secure a bond before they will work with your business.
- Illegal electronic funds transfer
- Forged signatures
- Theft of cash or property
Commercial umbrella insurance
An umbrella policy boosts the coverage of your general liability, commercial auto, and employer's liability insurance. It can help your small business comply with requests for higher liability limits.
- Personal injury lawsuits
- Auto accident lawsuits
- Workplace injury lawsuits
Looking for different coverage? Check out our other policies.
What are the small business insurance requirements in New York?
State laws can affect which insurance products you need for your small business. These types of insurance are required in the state of New York.
Workers' compensation insurance
New York workers’ compensation laws require businesses that have one or more employees, full-time or part-time, to carry workers’ compensation insurance.
Sole proprietors sometimes choose to carry this coverage, as personal health insurance won't cover work-related injury claims.
Workers' comp covers medical bills for work-related injuries and provides disability benefits for injured New York workers. Most insurance carriers include employer's liability insurance with this coverage, which pays for legal fees related to employee injuries.
Commercial auto insurance
Vehicles owned by limited liability companies (LLCs), startups, and other businesses in New York must be covered by commercial auto insurance.
New York law requires auto liability coverage in the amount of:
- Bodily injury liability: $25,000 per person / $50,000 per accident
- Liability for death: $50,000 per person / $100,000 per accident
- Property damage liability: $10,000 per accident
- Personal injury protection (PIP): $50,000
- Uninsured motorist coverage: $25,000 per person / $50,000 per accident
Personal, rented, and leased vehicles driven for work purposes should be covered by hired and non-owned auto insurance (HNOA), as personal auto policies usually exclude business use. It can be added to general liability insurance or a business owner's policy.
How much does small business insurance cost in New York?
Commercial insurance can be affordable for small businesses with low risks. Average costs for TechInsurance customers in New York are:
General liability: $42 per month
Professional liability / E&O: $83 per month
Workers' compensation: $38 per month
Factors that influence the cost of business insurance include:
- Your industry and risk
- Business operations
- Number of employees
- Policy limits and deductibles
- Claims history
Why New York business owners choose TechInsurance
Gain financial protection
The costs from a lawsuit or data breach can overwhelm a small business. Protect against common risks with the right business insurance coverage.
Find insurance policies for your small business in New York
Whether you need coverage to sign a contract, rent an office, or get a license, TechInsurance can help you find the right business insurance policies. Our insurance agents are licensed in New York and can help you find affordable policies from top-rated insurance companies.
Get started today by filling out our easy application. You can chat with an agent about your business insurance needs and get answers to any questions. When you're ready, pay for a policy online and get a certificate of insurance (COI) immediately to show clients that your business is protected.
Hear from business owners like you who purchased insurance coverage.