Types of NY Commercial Insurance for Business Owners

Types of NY Commercial Insurance for Business Owners

Article by Miles Henry

NY commercial insurance is more commonly referred to as business insurance and covers the insurance needs of small businesses and large corporations. There are several different policy types when referring to commercial insurance and the types in which you should purchase will depend entirely on the industry you serve as well as your potential exposures. While there are several types of business insurance to choose from, the most basic forms found today are commercial auto insurance, property insurance and professional liability. While you do not need to have in-depth knowledge on each of these policy types to receive quotes and bind coverage, it is important to know the basics to walk into an agency or brokerage prepared.

Commercial Auto Insurance

New York commercial auto insurance is necessary when you have vehicles used for commercial and business purposes. These vehicles can range from standard private passenger vehicles and pick-ups to large vans and trucks. A commercial vehicle is a vehicle that is used to transport materials, goods, tools or equipment related to your business. Like a personal auto insurance policy, a commercial policy comes equipped with similar coverages including liability, uninsured motorist, comprehensive, collision, and damage to business equipment. Because a personal auto insurance policy will exclude certain uses, it is important to