Business Insurance in Buffalo, NY

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Commercial Insurance for Your Buffalo Business

commercial insurance buffalo nyJust behind New York City, Buffalo is the second-largest city in the state of New York.1 The City of Lights is home to over 35,000 businesses across many different industries, including professional services, restaurants and retailers.2  Whether you have a small business or are planning on starting one, it’s essential to get business insurance.
 
Commercial insurance can help protect your Buffalo small business from things like property damage, legal liability and employee-related risks. If you’re wondering what small business insurance in Buffalo, NY is or what business insurance coverage you need, we’re here to help.
 

Types of Buffalo Business Insurance

Small business insurance protects companies from common claims that can come up during normal operations. In addition to any coverage that the state of New York requires a small business to have, it’s likely you’ll need other types of business insurance too.
 

Business Owner's Policy (BOP)

Many small businesses start with a Business Owner’s Policy (BOP), which combines three essential types of liability coverage: commercial property insurance, general liability insurance and business income insurance. The BOP insurance helps cover your business from claims such as fire, theft, bodily injury or business property damage. The business owner’s policy also can protect your business against claims that are related to your business operations. A BOP is fully customizable with optional coverages that can be added on to meet the different needs of a Buffalo, NY small business.
 

Workers’ Compensation Insurance

In the state of New York, small businesses with at least one part- or full-time employee are required to have workers’ compensation insurance to help protect their employees. Workers compensation insurance gives your employees benefits to help them recover from a work-related injury or illness. Workers’ comp can also help with medical expenses, rehabilitation and lost wages. It’s important to make sure you have this coverage for your business to keep your business and employees protected.
 

Professional Liability Insurance

Professional liability insurance, also known as errors and omissions insurance, can help cover your legal costs if your business gets sued. Without this coverage, you’ll have to pay for defense costs and settlements out of pocket. This liability coverage can protect your business if a customer claims that you were negligent in the professional services you provided.
 

Data Breach Insurance

Data breach insurance, also known as cyber insurance, can help protect your small business from risks associated with a data breach if confidential information gets lost or stolen. Cyber insurance can also help cover your costs to notify impacted individuals and offer credit monitoring services.
 

Commercial Umbrella Insurance

Commercial umbrella insurance, also known as business umbrella insurance, gives your business an extra layer of protection if you have a claim that exceeds the limits of certain liability policies. If your business gets sued for bodily injury or property damage, commercial umbrella policy can help cover those costs outside your policy limits.
 

Additional Coverages:

It’s likely that your Buffalo business will need to get other types of business insurance to ensure you are protected and help you save money in the long run. Are you wondering what types of coverage your business needs? There are a few things that will determine that, like:
 
  • What industry your business operates in
  • Whether you deal with sensitive customer information
  • If you have any company vehicles
You may want to consider other additional coverages, which can help ensure your business is completely covered:
 

How Much Is Business Insurance Typically in Buffalo, NY?

Our customers paid an average of $1,248 annually, or $104 a month, for business insurance coverage in New York. For workers' compensation insurance, customers in New York paid an average of $998 annually, or about $83 a month.3
 
Business insurance costs vary in Buffalo, NY because each business is unique and has different needs. Insurance companies use different factors to determine costs, such as:
 
  • Type of coverage
  • Claims history
  • Location
  • Industry
The best way to find out your business insurance cost in Buffalo is to get an online quote. You can also use your local insurance agency to get a quote.
 

Buffalo New York Business Insurance Requirements

business insurance buffalo nyYour Buffalo small business is required to carry certain types of business insurance in New York state. If you have any employees, your business will need to have workers’ compensation insurance as required by state law. If your small business owns vehicles, you will need to have commercial auto insurance coverage. While these are the minimum state-required coverages for New York businesses, it’s a good idea for business owners to get additional coverage to make sure you’re fully protected.
 

Industries Covered in Buffalo

Small business insurance protects your business from common claims that can come up during normal operations. We offer small business insurance coverage to many industries. Some industries that we can help protect in Buffalo, NY include:
 

Get a Quote From The Hartford Today

We make it easy for you to get a business insurance quote in Buffalo, NY. With a few clicks, small businesses can get a quote for the coverage they need in just a few minutes.
 
We’re an insurance company backed by more than 200 years of experience. We’ve helped over 1 million small business owners get the coverage they need. Our specialists understand the unique risks that Buffalo, NY businesses face. So, whether you have questions about business insurance or need help with a claim, we’ve got your back.
 

Links to Additional Cities in New York

We offer New York business insurance coverage to other cities in New York, including:
 
 
Last Updated: November 17, 2023
 
1,2 Chamber of Commerce, “Buffalo Chamber of Commerce.”
 
3 Premium amounts presented are based on monthly premium paid by The Hartford's Small Business customers between 1/1/22 and 9/14/23 for 12-month policies. Premium is derived from a number of factors specific to your business and may vary.
 
Additional disclosures below.
The Hartford shall not be liable for any damages in connection with the use of any information provided on this page. Please consult with your insurance agent/broker or insurance company to determine specific coverage needs as this information is intended to be educational in nature.
 
The information contained on this page should not be construed as specific legal, HR, financial, or insurance advice and is not a guarantee of coverage. In the event of a loss or claim, coverage determinations will be subject to the policy language, and any potential claim payment will be determined following a claim investigation.
 
Certain coverages vary by state and may not be available to all businesses. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc. listed in the Legal Notice.
 
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, CT. For additional details, please read The Hartford’s Legal Notice.
 
* Customer reviews are collected and tabulated by The Hartford and not representative of all customers.
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