Common coverage types
General Liability
Covers claims of bodily injury, property damage, or advertising injury caused by the business — often the first policy a small business gets, and sometimes required by landlords or clients before signing a contract.
Business Owner's Policy (BOP)
Bundles general liability and commercial property coverage into one policy, typically at a lower combined cost than buying each separately — a common fit for a business with a physical location or equipment.
Workers' Compensation
Required for nearly all New York employers, even with just one employee. Covers medical costs and lost wages for an employee injured on the job.
Professional Liability
Also called errors & omissions — covers claims that the business's advice, service, or work caused a client financial harm. Relevant for consultants, service providers, and anyone giving professional advice.
Frequently Asked Questions
What insurance does a small business in New York actually need?
It depends on the business, but general liability is the most common starting point, often paired with a Business Owner's Policy. Businesses with employees are required to carry workers' compensation, and service-based businesses often need professional liability too.
Is workers' compensation insurance required in New York?
Yes — nearly all New York employers are required to carry workers' compensation insurance, even with just one employee, with limited exceptions.
What's a Business Owner's Policy (BOP)?
A BOP bundles general liability and commercial property coverage into a single policy, typically at a lower combined cost than buying each separately.
Do I need professional liability insurance?
If your business provides advice, a service, or expertise a client could claim was negligent or caused financial harm, professional liability coverage fills a gap general liability doesn't cover.
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