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Starting a new business in upstate New York always comes with perils that must be anticipated, and accordingly all new businesses need to have some form of liability insurance. It is important to know what kind of options are available when purchasing liability insurance for small business. Oswego, NY offers a wealth of options, but first it is essential to know exactly what kind you are going to need.

Most businesses are going to require some kind of general insurance. General insurance is a blanket business term used to refer to the various kinds of insurance that are available to protect businesses from basic pitfalls: property damage, false advertisement claims, and bodily injury. (This is the most common form of business insurance that is sold, and will typically come packaged in a way that tis very specific to the industry.) Malpractice insurance (sometimes called Errors and Omissions) is used for professionals such as doctors, lawyers, accountants, real estate firms and engineers to protect them against negligence from their practices. Product liability insurance protects manufacturers from malfunctioning products, and EPLI protects businesses from wrongful termination and sexual harassment. Not all of these will apply to your business, of course, but it is essential to know the specific classifications for your desired kind of liability insurance for small business.

Oswego, NY has a wide variety of local companies that you can purchase insurance from. You may want to consider Blackmon Insurance and Canale Insurance, both of which are well-rated by the State of New York’s Department of Insurance and by JP Power and Associates. If you are purchasing multiple insurance packages, be sure to check and see if the insurers offer umbrella insurance, so that you can bundle your insurances together and save money.

This Business article was written by Mark Karavan on 1/1/2010