Plenty of risks are involved in running a successful business in New York. At Stewart Agency, Inc. in Elmira, NY, we're committed to offering comprehensive commercial insurance to protect businesses from operational risks. We understand that first-time business owners may have challenges acquiring this insurance. This is why we have a team of knowledgeable insurance professionals to help our clients every step of the way.
Taking Commercial Insurance
Business owners have to take commercial insurance to comply with local, state, and federal regulations. We can guide you on the different coverage you can take to not adhere to the law but also protect your business from possible risks.
During our meetings, business owners usually have concerns about how much coverage they should take for the adequate protection of their business. Ideally, the cost of insuring a small business is significantly lower than that of a large franchise. High-risk companies should also expect to carry more insurance, particularly those with high interaction with the public.
When assessing a business premium cost, we consider your years in business and the services you offer. We'll also want to know your claims history and business duration.
Businesses should take steps to manage risk, or this could be a reason for their downfall. That being the case, we offer guidance to business owners in New York on ways to manage risks that may lead to business failure. Among the tactics we advocate for is risk avoidance. For instance, if part of a business process affects employees' health, you can avoid paying hefty claims by outsourcing such a process.
Another risk management tactic we offer is agreeing to a risk transfer. This means that we'll agree with business owners to pay a premium, and in turn, we'll pay for certain losses in case of damage.
Get Your Commercial Insurance Today
Contact our Stewart Agency, Inc. team in Elmira, NY, and we will gladly guide you on the necessary steps to enjoy proper commercial insurance protection.