Category: Commercial Insurance

You must be adequately insured if you’re running an online business in Albany, NY. Although many policies are available to help cover your business and assets, knowing which types best fit your needs is essential.

Here are three types of insurance you should consider for your business from our team of insurance experts at M&K Dignum Insurance Agency Inc.

3 Types of Online Business Insurance 

General Liability Insurance

As an online business, you are susceptible to lawsuits and other risks. Without general liability insurance, you could be sued for damages caused by your business, such as if your product accidentally causes damage to a customer’s property. This insurance can help protect your business from these risks.

General liability also covers you in reputational harm cases, such as when a customer claims a poor interaction with your business damaged their personal or professional reputation. You may also use a general liability policy to protect your intellectual property from theft or other misuse.

Product Liability Insurance

You may be held responsible for the products you sell, even if you didn’t make them. Product liability insurance can help protect your business from costly lawsuits. If a customer is injured by a product you sell, they may sue you for damages. Product liability insurance can help cover the costs of these lawsuits, including legal fees, settlements, and judgments.

Professional Liability Insurance

Professional liability insurance will protect you financially if you are sued for negligence or for giving bad advice. It will also cover you if one of your clients suffers a financial loss because of something you did (or didn’t do). Without professional liability insurance, you could face a substantial financial burden if something goes wrong. The cost of defending yourself in court can be astronomical; if you lose, you could be ordered to pay damages and legal fees.

These are just some examples of insurance that can benefit an online business. Others that might be of interest include cybersecurity insurance and business interruption insurance.

Contact Us Today

Our team at M&K Dignum Insurance Agency Inc. is happy to serve clients in Albany, NY and surrounding areas. We offer insurance services to help protect your online business. We are here to help you find the right coverage, and we will work with you to find a policy that fits your needs.

If you own a business in New York, chances are that you need at least one type of commercial insurance to stay legal. There are two types of commercial insurance that the state mandates, but not every company will need them both. It’s important to know what they are so that you know if you need to get them to protect your company.

To get started with commercial insurance, call us today at M&K Dignum Insurance Agency Inc. in Albany, NY.

Required Commercial Insurance

Workers’ Compensation Insurance

This type of insurance pays for the medical bills and other expenses such as lost wages for employees who are injured while working or who contract a work-related illness. It also pays disability benefits when necessary. This type of insurance is important for protecting your business from these expenses after an accident. It’s also important for employees to know that it’s there in case an accident should happen. In New York, if you have any number of employees working any hours, even part-time, you must have this insurance for those employees. 

Commercial Auto Insurance

If your business owns any type of vehicle, it must be covered by a commercial auto insurance policy. There are several types of coverage that have to be in this policy to keep it legal. There are several amounts that are required to be included in these policies. There is an amount required for bodily injury liability for a single person injured in an accident, and other is required for all of those who are injured. There is an amount required for one person’s death and another amount for everyone who has died. There is an amount required for property damage liability and one for personal injury protection. Then, there are amounts required for one person injured by an uninsured motorist and another for all of those injured. 

Get Insurance Coverage

To get your commercial insurance, contact us at M&K Dignum Insurance Agency Inc. in Albany, NY.

Commercial auto insurance is a must if you own a business in Albany, NY and surrounding areas. This type of coverage protects your business from financial losses because of accidents involving company-owned vehicles. Whether you have a fleet of delivery trucks or a single car used for business, commercial auto insurance can help keep your business afloat if an accident should occur.

What is Commercial Auto Insurance?

Commercial auto insurance is a type of business insurance that helps protect businesses from financial losses because of company-owned vehicle accidents. This coverage can help pay for repairs to the vehicle and medical expenses for any injuries caused by the accident. It can also help cover the cost of a rental car if your company vehicle is damaged in an accident and cannot be driven.

Many types of commercial auto insurance policies are available, so it is essential to talk to your insurance agent at M&K Dignum Insurance Agency Inc. about the right coverage for your business. Some businesses only need basic liability coverage, while others may benefit from more comprehensive policies covering property damage and bodily injury. No matter what type of policy you choose, commercial auto insurance can help protect your business from the financial burden of an accident.

Why You Need Commercial Auto Insurance in Albany, NY

Commercial auto insurance is a must if you own a business in Albany, NY. This type of coverage protects your business from financial losses because of accidents involving company-owned vehicles. Whether you have a fleet of delivery trucks or a single car used for business, commercial auto insurance can help keep your business afloat if an accident should occur.

To learn more about commercial auto insurance and how it can benefit your business, contact M&K Dignum Insurance Agency Inc. today.

Any small business is a big investment.

M&K Dignum Insurance Agency Inc. can help ensure it’s protected. The agency answers five common questions about the importance of commercial insurance.

What is commercial insurance?

Simply put: commercial insurance protects your business. These policies cover companies, corporations, and other entities. Coverage varies but may include loss due to vandalism, theft, injury, damage, or even lawsuits. Employees and staff are covered while at work.

Why do I need commercial insurance?

Owning a business is already risky. Commercial insurance minimizes risk by safeguarding your investment. In the event of an accident or if loss does occur, this plan will help you recover. Commercial insurance grants peace of mind, so you can focus on growing your business.

What’s included in commercial insurance?

Every plan is unique. However, most commercial policies contain similar features. Premiums, the amount a business will pay for coverage, varies based on work performed, size, and years of service. If you file a claim, you will also pay a deductible. Your policy will establish clear limits, exclusions, and other restrictions too.

What types of coverage are available?

While any plan can be personalized, commercial insurance usually offers three primary coverage areas.. Property insurance safeguards the physical location of a company and any equipment. Liability coverage protects against bodily injury and other damage if you are determined to be at fault. Finally, income insurance reimburses for any loss of revenue caused by an incident.

What types of insurance are required?

Businesses typically require more than one type of insurance depending on work and services provided. Only a professional agent can evaluate your needs and find the right solution.

Contact M&K Dignum Insurance Agency Inc.

Serving Albany, NY, the agency can construct a commercial insurance policy that protects you and your business. Call today.