Rochester, New York
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Rochester, NY 14622
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3 Types of Business Insurance Your Startup Needs October 12, 2020

Rochester, Rochester, NY
3 Types of Business Insurance Your Startup Needs, Rochester, New York

Starting a business is a significant risk. There’s no foolproof way to guarantee the success of a startup. However, you can take steps to protect your investment along the way, and purchasing business insurance is one of them. To give your latest endeavor the best chance of success, make sure to buy the following types of coverage. 

What Policies Does Your Startup Need?

1. Workers’ Compensation Coverage

If you intend to hire any employees, you need to purchase workers’ compensation insurance. The state of New York requires all businesses to carry such coverage to protect both workers and employers.

If an employee gets hurt on the job, this insurance will cover the associated medical bills and a portion of their lost wages. It can also protect you from litigation.

2. Property Coverage

business insuranceIf your operations are based out of a brick-and-mortar store, you’ll want to protect the building from vandalism, theft, and natural disasters. If you don’t own the space, an adequate renter’s insurance policy will cover the property housed inside it, including tools, equipment, and inventory.

If you’re operating out of your primary residence, review your homeowners insurance policy. You’ll likely need to supplement it to cover your business assets.  

3. General Liability Coverage

Liability insurance will protect the business in case of legal action. If a customer gets hurt on the premises or sustains injuries while using your products, this coverage will prove invaluable. Liability insurance reimburses policyholders for legal expenses and payouts awarded to the opposing party up to the policy’s limits. 


For business insurance that will meet all your needs, turn to Consolidated Agency Inc. in Rochester, NY. Founded in 1988, this independent agency has served entrepreneurs across Monroe County ever since. Their highly knowledgeable agents will help you secure tailored policies that cover your startup’s unique needs. In addition to business insurance, they will also assist with homeowners, auto, property, and umbrella coverage. To request a quote, reach out online or call (585) 467-4110. Like them on Facebook for additional updates.

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