Business Insurance

Locked, loaded, and (almost) ready to launch a new business into the world – but wait! You need business insurance!

With all the complications that surround starting a business, insurance shouldn’t have to be one of them. In this blog post, I will break down six basic lines of coverage every new business owner should consider. Let’s make you dangerous enough to start a conversation with your broker.

General Liability Insurance:

The business insurance standard. This coverage kicks in to protect you during designated claim situations. Protection is provided for third party injuries, property damage or even libel and slander. Protection for your legal costs can also be provided from this coverage. If you’re opening a shop, this is the first box you need to check.

Property Insurance:

Now that you’ve started a business, you’ve acquired business things! This insurance will protect your physical assets including the building, inventory, equipment, electronics and furnishings. Coverage will be effective for protecting against losses due to fires, theft, hurricanes, and more. If you have business property, check this box too.

Cyber Liability Insurance:

In the digital age, this business insurance is essential. As you continue to build lists with personal identifying information (ie: name, address, phone number, social security number, etc.) you are liable for the protection of that data. Additionally, this coverage can protect you against phishing, digital extortion and a wide array of other virtual exposures. This business insurance really is new to the market and you would be well served to get ahead of the curve.

Workers Compensation Insurance:

Depending on your state, its required in New York, you may be obligated to purchase workers compensation for your employees. By utilizing this coverage, employees who are injured on the job will have their wages replaced and medical care paid for. This happens in exchange for agreeing not to sue their employer. It’s important to also speak with your broker regarding disability insurance that may also be required.

Commercial Auto Insurance:

This auto policy is the first line of defense for any vehicles you own, lease, rent, or borrow. While on the clock, employee protection is provided by this policy. That means its effective regardless of if they’re on the road or not. Yes that’s right, if you get hit by a car while crossing the street, your auto policy kicks in first!

Professional Liability:

This coverage is important for all the white collar workers out there. Legal damages and defense costs due to acts or suggestions you made in a professional capacity are what this coverage is all about. Errors and omissions coverage protects you against just that. Furthermore, directors and officers’ coverage can protect the organization’s leadership from direct lawsuits and is essential while attracting and retaining high quality board members.


Now that you know how to dangerously discuss the six essential lines of coverage, its important to know that specialized policies are available to protect to every business imaginable. Package policy options are often able to combine multiple lines of coverage, while additionally providing subsidized premium pricing.

The best time to speak with an insurance professional about your business insurance is now! Both new and established organizations can benefit from a free consultation today.

Remember, with ZRM, you’re four simple steps away from insuring your peace of mind.

Call us for a free consultation today 914-498-0979

Daniel Guiney