Reasons to Have General Liability Insurance

General Liability Insurance New York

Being in business requires a certain amount of risk. Losses are always possible, but risks need to be calculated, and insurance needs to cover the unexpected. Injuries, time lost, property damage—all of these are unpleasant, but accidents happen. That’s one reason why general liability insurance in New York is big business. General liability covers claims resulting from a personal injury in an accident or from inadvertent property damage. A motor vehicle collision is an obvious example. But on a construction job site, liability can be very industry specific and have bigger ramifications.

Finding Your General Liability Carrier

When companies go looking for general liability insurance in New York, they have many choices. The best companies offer a variety of packages based on the specific industry. Dentists don’t have the same issues as an electrician, although a plumber will have similar types of risk exposure. The company profile can also dictate your carrier, depending on the size of the payroll, the desired premium, and the amount of the deductible. Sometimes a policy can be project specific, so it only covers that job. Since it only covers one project, the cost is lower.

Ongoing Liability

Many industries have ongoing issues with liability simply because of the number of clients they deal with. Consider the following examples:

  • The restaurant industry
  • Nightclubs or entertainment
  • Transportation
  • The leisure industry

The perfect insurer fore general liability insurance in New York may be hard to find, but the choices exist to help mitigate financial losses from any lawsuits.