MiscellaneousFind informative articles on miscellaneous NY businesses including the types of commercial insurance they need, costs and other considerations. Information Technology and InternetLearn about New York IT technology insurance policies that help protect IT businesses, consultants & subcontractors from the unique risks that small tech businesses face when they work. Auto Sales, Service and RepairRead about New York auto sales, service & repair insurance, which provides protection for damages done to customers vehicle’s and other property as well as injuries resulting from the work done. The New York commercial general liability insurance company who issues insurance and agrees to pay for losses and provide covered benefits. When bodily injury liability and property damage liability is expressed as a single sum of coverage.
Unless otherwise defined in the policy, Actual Cash Value in California means Fair Market Value. The Fair Market Value of an item is the dollar amount that a knowledgeable buyer is willing to pay and a knowledgeable seller is willing to accept. Standard perils in Inland Marine may include fire, lightning, windstorm, flood, earthquake, landslide, theft, collision, derailment, overturn of the transporting vehicle, and bridge collapse. Electronic Funds Transfer ProgramsConvenient method for the payment of Invoices and Premium Tax remittances.
A commercial general liability insurance policy accounts for your business being at fault for bodily injury, property damage, personal or advertising injury. Professional liability insurance coverage, on the other hand, protects businesses and individuals against claims made by clients for wrongful acts resulting in economic damage. General liability insurance (also known as CGL—for commercial general liability) is one of the most essential and effective ways to safeguard your business.
Also, you can terminate your motorcycle liability insurance without surrendering the plate. This makes it easier to put the motorcycle back on the road after winter storage. However, under no circumstances may your motorcycle operate on public highways without liability coverage in effect.
Open Perils coverage covers all losses unless they are specifically excluded. Earth movement and flood are two common perils that are excluded under open perils coverage. Since open perils coverage offers more comprehensive protection, it is more costly than a specified perils policy. It lets you run a legal businessSome states and cities will only give you a business permit if you have active general liability insurance and a certificate of insurance. If your business is certified or accredited by a professional organization, you might also be required to keep your general liability insurance active.
In many cases your broker-agent will be your first point of contact when filing an insurance claim. Whether you contact your broker-agent or the insurance company directly when filing a claim, you are required under the insurance contract to report all claims in a timely manner. This allows the insurance company to process the claim and conduct their investigation as quickly as possible. It is important to note that workers compensation claims do not come under the jurisdiction of the CDI. The California Department of Industrial Relations, Division of Workers Compensation can assist you with questions or concerns regarding workers compensation claims.
Glass – Basic specified perils for glass coverage include any resulting damage to other property from broken glass due to vandalism and also vandalism to glass building blocks. Broad and specified perils covers $100 per pane of glass up to $500 per occurrence. A glass form must be added for scheduled glass coverage when there is a significant glass exposure to insure. The glass form includes the number of panes, dimensions, location, lettering, and ornamentation.
In our litigious society, more and more businesses are being sued due to issues like libel, slander, property damage, and bodily injury, just to name a few. Apart from that, businesses can be sued even when they have not done anything wrong. That is why your business requires general liability insurance protection.