Do Your Homework: Making Sure Your Small Business Is Fully Insured

Owning a business certainly is not a risk-free endeavor. For small businesses in hospitality and real estate in particular, the exposure to risk is high. Customers can slip and fall, employees can become injured as a result of the labor intensive work, and in either case the business itself is held liable. Business owners with quality small business insurance in New York are often saved from the financial repercussions of these incidents, but not in every case. While small business owners tend to assume that their general liability insurance will cover all of these risks, this is not always a safe assumption. If and when such incidents do occur, businesses that rely on this misconception can be left in the lurch and exposed to huge costs that their small business insurance does not in fact cover. A single suit of this sort may be enough to bankrupt a small business.


In order to be protected from this hidden danger, it is of critical importance that small business owners interrogate their insurance policies and determine the extent to which their general liability insurance will cover their liabilities. General liability coverage should never be assumed to cover any and all risks. Speak with your insurance provider, and make sure that the small business insurance in New York they offer is indeed a policy you can rely on.



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