If your business is certified or accredited by a professional organization, you might also be required to keep your general liability insurance active. A good construction insurance broker will ask about the type of construction projects you work on, where, how big and for whom, and will make appropriate insurance recommendations based on YOUR business. Remember your construction New York general liability insurance is only as good as the language included within. SEI knows that if you work in the construction industry, you are part of one of the world’s most dangerous businesses. Typically, full contractual means the insured will have no contractual limitations or labor law exclusions in their policy. Every business needs to protect themselves from accidents or injuries that may occur on their business grounds.
Without commercial general liability insurance, you would be liable to pay those expenses with your own business or personal assets. It is critically important that insurance holders consult the specific language of their policies. Policy holders may believe they are covered for losses or breaches stemming from the COVID-19 pandemic by reason of the “type” of policy they purchased, only to find that the policy in question is much narrower than they thought. Even if pandemic-related losses are not specifically excluded by a force majeure provision, these policies may not cover claims arising from certain types of losses. In New York, the general rule is that commercial general liability policies do not cover losses arising from a claim for breach of contract against the insured.
Insurance consultants can help evaluate a business’s needs, design a plan and recommend the most economical carrier. But for small businesses, a qualified agent/broker can do the same thing. We include business income insurancein our Business Owners’ Policy, but you can also buy the policy on its own. SECTION 3415 Supplemental claim form to be submitted for certain fire loss claims in excess of ten thousand dollars in a city with a population of one…
Legislatures in some states, such as New Jersey, are reportedly considering legislation to require “business interruption” insurers to provide coverage for economic losses due to pandemic-related business interruptions. These efforts could inspire legislators in New York and other states to take action as well. Submit a claim online or by phone, and we’ll work quickly to pay your covered claims up to your policy’s limit. No matter what your business is, if you’re in New York, you’ll benefit from being insured.
Buildings you own or lease as a part of your business, your business personal property, and the personal property of others make up the basic coverage sections of commercial property insurance. Coverage is dependent on actual facts and circumstances giving rise to a claim. Next Insurance, Inc. and/or its affiliates is an insurance agency licensed to sell certain insurance products and may receive compensation from insurance companies for such sales.