Business Insurance in New York FAQ - Quick Answers

While you can't know your exact business insurance premiums without a personalized quote, you can understand what carriers use to rate your policies below:

  • Type of industry
  • Number of employees
  • Gross annual sales
  • Location of business
  • Number of company vehicles
  • Safety practices in place
  • Past claims reported
  • Number of years in operation

Two main policies could be required when you own a business in New York. Workers' compensation is mandatory when you have just one employee, and commercial auto coverage is required for any company-owned autos. Other coverages are not usually mandated by state law but are useful to consider to have complete coverage.

Your business insurance in New York can cover a multitude of risks. However, each policy is individualized to meet your operation's needs specifically. Here are some policies that could apply to your business:

In New York, general liability insurance is typically your first policy purchased and it protects your business in the following ways:

You'll only be required to offer health insurance plans if you have 50 employees or more in New York. However, if you want to add health coverage to your employee benefits, a trusted independent insurance agent can help find rates through private carriers.

If you're purchasing business insurance, you'll have many carrier options. In New York, Nationwide, Hiscox, Progressive, and Hanover insurance companies are rated among the best. This is due to their superior claims service and excellent customer care.

Do You Know What Your Business Insurance Covers in New York?

Find the Best Business Insurance in Your City

National Business Insurance Stats

Number of businesses in the US: 30,819,176

Burglary rate per 1,000 residents in the US: 3.76

Auto theft rate per 1,000 vehicles in the US: 2.29

CityNo. of businessesBurglaries / 1,000 peopleAuto thefts / 1,000 cars