Commercial Insurance offers a level of protection against unforeseen events that could cause business disruption or even business failure. Generally, Commercial Insurance coverage is divided into two main categories: Property and Casualty to offer maximum protection and to ensure business continuity and solvency.

Commercial Insurance policies are designed to protect businesses and corporations, their employees, and ownership. As there are many different types of companies, each with varying insurance requirements, many different forms of commercial insurance are available.

There is a wide range of commercial insurance coverage available for businesses on Long Island. These include but are not limited to: Commercial Umbrella, Errors and Omissions, Cyberattacks, Directors and Officers, Business Income, Property, Automobile, and General Liability to name but a few.

Business insurance, also known as Commercial insurance, is essential because it protects enterprises from losses due to unexpected events that occur during normal business operations. These events include lawsuits, accidents, natural disasters, property damage, business interruption, theft, vandalism, liability, and worker injury.

Every business operating in New York State is required to provide Workers’ Compensation coverage for every employee, including part-time staff. This means that employers must have a Workers’ Compensation insurance policy, which includes New York Employer’s Liability coverage as well.

Commercial enterprises, especially those located on the South Shore of Long Island, require Coastal Business Property Insurance, a stand-alone policy that covers the risks associated with their location, such as hurricanes, windstorms, flooding and erosion. Such coverages are generally excluded or undercovered by most commercial property insurance policies due to the higher risks involved.

Insurance agents represent one company, the insurance carrier that employs them. Insurance brokers represent their clients and can assist them in shopping for policies that meet their requirements from multiple insurance carriers, thereby making an insurance broker the better choice for their needs.

Most condo insurance policies will cover damage caused by mechanical failures, such as a bathroom plumbing leak that ruins the flooring and ceiling below. It does not generally cover floods caused by forces of nature, including hurricanes and earthquakes- but this type of coverage can be purchased separately.

Yes, because the landlord’s policy will not include their tenant’s belongings. Tenants need coverage for their personal property, such as computers, tablets, cell phones, clothing, jewelry- anything of value to them that could be damaged or stolen while stored on the rented premises.