Business Insurance in New York

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Learn about New York's insurance requirements

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What are the requirements for small business insurance in New York?

State laws can affect which insurance policies you need for your small business. These policies are required for New York businesses.
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Workers' compensation insurance

New York state law requires every business that has employees, full-time or part-time, to carry workers’ compensation insurance. This policy covers medical bills for work injuries and protects employers from liability over an injury.

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Commercial auto insurance

All business-owned vehicles in New York must be covered by commercial auto insurance. Though it's not required, personal vehicles driven for work purposes should be covered by hired and non-owned auto insurance, as personal auto policies usually exclude business use. It can be added to general liability insurance or a business owner's policy.

New York's commercial auto insurance requirements are:

  • 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: $50,000
  • Uninsured motorist coverage: $25,000 per person / $50,000 per accident

Recommended insurance policies for small businesses in New York

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Find policies for your profession

Photographers, nurses, and lawyers need different insurance coverage. Insureon offers policies for the following New York professions and more:

Don't see your profession listed? Find more professions.

How much does small business insurance cost?

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Commercial insurance can be affordable for a small New York business. Factors that influence the cost include:

  • Your industry and risk
  • Coverage limits
  • Location
  • Number of employees
View Small Business Insurance Costs

Insureon specializes in New York business insurance

In New York, insurance agents, agencies, and brokers are licensed by the New York State Department of Financial Services. Insureon is licensed in New York as BIN Insurance Holdings, LLC (NPN 15752926) for property and casualty insurance (agent license PC-1155635, broker license BR-1155635) and for surplus lines (license EX-1155635). You can verify our licensure with the New York State Department of Financial Services Insurance by selecting “Business Entity” in the first dropdown and then entering our New York state license (1155635).

What our customers are saying
"I was confused about what type of coverage I needed and Holly was extremely helpful. Way more helpful than I had experienced with other companies. I got the exact coverage I needed!"
Jessica Shannon
Customer since 2016
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