Steps for Startup Businesses Buying Commercial Insurance in Selden, NY

If you are a small business owner with less than 100 employees in Selden, NY, XL Brokerage Inc. has you covered when it comes to small business commercial insurance. New York state has over 98% of businesses that are considered small according to Empire State Development. Over 54% of employees work in small businesses.

What Does Small Business Commercial Insurance Cover?

Business liability insurance is sometimes referred to as Commercial General Liability insurance and protects small businesses from the following:

  • Injury claims
  • Damages caused by employees
  • Property damage
  • Bodily injuries
  • Advertising injury
  • Personal injury
  • Legal defense

Guide to Getting Small Business Insurance

It’s time to get your business insurance and you’re a little bit nervous about picking the right policy and being prepared with all the correct paperwork. Don’t sweat it though because XL Brokerage Inc. has plenty of options for you and we’ll get you the peace of mind that you need. Knowing that you are prepared for the unexpected is exactly what we will do for your small business commercial insurance needs. 

  1. Gather all information and documents. You will need to have all of your business information ready. This includes the number of employees with total payroll expenses, your gross annual sales, all of your business assets including tools and equipment, the age of the commercial property that your business is located at and the business location.
  2. Discuss coverage options with your XL Brokerage Inc. representative. Make sure all of your information is ready and discuss different coverage options. 
  3. Evaluate and choose the best options for your business. Make sure that any of the risks associated with your business are well researched, meet your budget needs and that you are covered after talking to our experts. 
  4. Rest easy and know that your business is protected. Every year we will re-evaluate the needs of your business and make sure all of your information is up to date. This will ensure that you have the proper coverage for years to come. 

If you have a small business and are ready to discuss your options, give XL Brokerage Inc. in the Selden, NY area a call today.

 

 

How landlord insurance protects you

As a property owner who is a landlord, you have a tough job. You have all the headaches that come along with homeownership and in addition, you have to deal with the stress that being a landlord can cause. Not that all tenants are stress-causing, many are not but having even one can make you very grateful that you have landlord insurance. In Selden, NY, XL Brokerage Inc. is there to explain how landlord insurance can benefit you and your rental property. 

Landlord insurance like homeowners insurance protects you in the event of a liability claim and also for property damage when a covered event happens. You may think that regular homeowner’s insurance would be enough but most home policies are designed to cover owner-occupied homes. 

Liability

If someone is injured at your rental property, even if it is the tenant, you can be held responsible if it is found that the injury is due to neglect on your part.  With liability claims, typically there is no deductible. 

Property 

This is an important coverage that protects the building and any furnishing that belong to you the landlord, this can include things like the appliances, furnace, and water heater. Things covered include fire, vandalism, theft and many weather events. Included are other structures such as fences, detached garage or shed. This coverage can protect your rental in the event you have a tenant who damages the property. 

Income protection

If your home is damaged by a covered event and you are not able to collect rental income, this protection will be sure that you don’t suffer the loss of income. 

Additional coverage

Other coverages that landlords may want to consider are flood insurance, hurricane insurance, and emergency coverage. 

In Selden, NY, XL Brockerage Inc. is there to answer any questions you have about landlord coverage. Give their office a call or stop in for a no-obligation quote.