New York Business Insurance

Customized protection for your New York business

New York business owners should consider several types of insurance to protect against risks associated with daily operations, employees and business property. Choosing to run a business in New York without insurance could lead to severe financial hardships, such as lawsuits and recovery costs.

In 2022, private sector businesses accounted for over 72% of New York state’s 192,800 non-fatal workplace injuries. Incidents like these can disrupt operations and threaten output, cashflow, assets and more. Insurance helps minimize these setbacks.

Shop for commercial insurance through The Progressive Advantage® Business Program. We’ll help you customize a New York business insurance policy based on your needs.

Types of NY business insurance

General Liability

This is the most common business insurance coverage, and nearly all businesses in New York should have it. It protects against third-party bodily injury and property damage, as well as personal and advertising injury.

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Commercial Auto

Commercial auto provides liability and physical damage coverage for your business vehicles. Most personal auto policies don’t cover vehicles used for business, which includes transporting supplies or traveling between job sites.

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Workers' Compensation

Businesses in New York are required to have workers' comp insurance if they have employees. Workers’ compensation insurance helps pay for expenses related to employees becoming injured or ill while working for you.

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Business Owners Policy (BOP)

A BOP combines property and liability coverage into one easy-to-manage policy. It’s popular among owners of small to medium-sized businesses who rent or own the building in which they do business.

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Professional Liability

New York businesses that provide professional services, such as consultation or accounting, should consider this coverage. It protects against claims of professional negligence, both actual or alleged, and helps pay for defense costs. It’s also known as errors and omissions insurance (E&O).

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Cyber Insurance

Cyber insurance protects against incidents like data breaches and cyber attacks. It includes first and third-party protection for things like investigative services, data recovery and legal costs. Businesses that store or manage credit card numbers should consider this coverage.

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How much does New York business insurance cost?

The cost of business insurance in New York depends on a variety of factors, including your business’s size, location and coverage needs. For example, a business in a highly populated area like New York City can expect to have a different rate than one located in a less populated city like Binghamton.

The most influential factor, however, is the type of work that you do. Businesses are typically rated on the exposures that are unique to their industry. High-risk professions like tree trimmers and manufacturers can expect to pay more for coverage.

Learn more about the factors that affect your business insurance rate. You can also get a customized quote online to find out exactly what you’ll pay.

New York business insurance requirements

The state of New York requires all businesses with employees to carry workers’ compensation. Coverage may be purchased through a private insurance carrier or through the state’s private insurance fund.

Unpaid volunteers and most subcontractors are considered employees and could be required to be covered by a workers’ comp policy, according to the New York State Workers’ Compensation Board. Learn more about workers’ compensation in New York.

Other business insurance products, like general liability and a BOP, aren’t required by law, but you’ll likely need them before entering a contract with a client or landlord.

Resources for New York small business owners:

New York professions we insure

We help small business owners from a wide variety of industries, including these common professions:

Browse more examples of professions we insure.

Why choose Progressive?

  1. Options

  2. Experts

  3. Convenience

Business insurance for all cities in New York

We insure businesses in all New York locations, including, but not limited to:

  • New York City
  • Buffalo
  • Syracuse
  • Albany
  • New Rochelle
  • Rochester
  • Yonkers
  • Mount Vernon
  • Schenectady
  • Utica

More information

Man with New York business insurance works in a commercial van

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