New York

New York Insurance Licenses: PC-1155635, EX-1155635 and BR-1155635

From the rural Adirondacks to the metropolis of Manhattan, opportunities abound for small businesses in New York. You might want your business to be a Broadway star literally located along Broadway. You could run your IT firm from your home in Buffalo. Or you may want to nestle a restaurant in a sleepy upstate town and make all your money during the tourist season.

New Yorkers are driven to succeed, and wherever you decide to set up shop, you're sure to do well as part of the bustling small business community (except if you can't afford to rent that pricey Manhattan boutique. Seriously, have you seen real estate costs for that city?).

With more than 1.5 million self-employed people and 440,000 businesses with fewer than 500 employees, New York is home to a ton of entrepreneurs. The state has the third-largest economy in the country, and serves as a crossroads not only for the East Coast, but also for the entire world. It's hard to think of a spot with better prospects.

But if you're planning on joining the ranks of New York's small businesses, make sure you're protected. The proper insurance can shield your business from all sorts of risks that come with opportunity. Who knows – one day you might even find stock in your business being traded on Wall Street.

New York-Based Small Businesses: Keep Insurance Premiums Low

  • Exempt yourself from your Workers' Compensation policy. Though you can purchase Workers' Comp for yourself, New York's laws don't require you to. That means if you exclude yourself from coverage, you can save money on the Workers' Compensation coverage you buy for your employees.
  • Create a risk management plan. New York businesses can usually keep insurance costs low by implementing safety and training measures that curb the potential for accidents and lawsuits. For example, you may install a security camera in your shop to deter thieves.
  • Purchase Umbrella Liability Insurance. Offer extra coverage to multiple policies in one fell swoop. An Umbrella policy can add millions more in coverage for as little as a few hundred bucks a year (much less than you'd pay to each policy's limit separately).

New York: The Big Apple for Small Businesses

New York is the city that makes or breaks a business. From Wall Street and Madison Avenue to Broadway, the Big Apple boasts one of the largest city-based economies in the world (second only to Tokyo). And the rest of the state has a lot to offer, too: according to the 2014 press release "New York’s Economy Grows by 10,400 Jobs and Jobless Rate Drops to 7.1%" from the New York Department of Labor, New York accounted for 12 percent of private sector job growth nationally.

But financial risks are part of running a business, no matter your industry or the economic outlook of your state. That's why a small business has to think big if it's going to cut its teeth in New York's competitive and booming private sector. And with adequate business insurance, you can make sure your company is equipped for survival, even in the face of liability lawsuits, property damage, and business interruption.

New York Business Insurance Licensure Information

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 & Casualty Insurance (Agent License PC-1155635, Broker License BR-1155635) and for Surplus Lines (License EX-1155635). To verify our licensure, go to the New York State Department of Financial Services Insurance License Search. Fill out the CAPTCHA to verify that you are not a spambot. Select "Business Entity" in the "Search By" menu and enter our NY license (1155635) into the "License #" field.

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