There are a lot of driver's in New York, who carry just what the state minimum coverage's are. In New York they are $25,000 per person/$50,000 per accident and $10,000 of property damage. So if you hit another car, a building, a gas pump (yes this happened to our convenient store client) you only have $10,000 to fix the damage.
That really isn't enough in today's climate, as so many people drive better cars that are worth more than $10,000. And if you don't have the insurance to pick up the damage figure, a judgement would be favored against you.
So be aware that us as an insurance broker, are never in agreement to carry the state minimum coverage. As a matter of fact, our insurance agency has a $100,000/$300,000/$50,000 standard coverage we insist upon. We never want a client to come by or call and say "you never offered me this better coverage". It just doesn't happen in our agency. We want our clients to all be protected against any loss that may occur due to their fault.
We do this because we care.
Worker’s Compensation for Restaurants in New York.
Newer restaurant owner’s in New York (maybe some established one’s too) don’t realize that they can co-join a “safety group” with other restaurants in New York. This is a pooling of money paid in and also of money paid out in claims. A good way for any restaurant to save money, especially during this pandemic of 2020.
The safety group we are affiliated with has a 20% UPFRONT discount and then historically, a 30% backend dividend. So saving 50% off the standard rates set by the New York Worker’s Compensation Board. A really great deal for restaurant owner’s, especially new one’s.
A warning is that you cannot move from one safety group to another. There are 2 other safety groups I am aware of and they do not allow movement from one to another. I guess they try to protect each other from adverse claims if a higher claim risk wanted to jump ship. Makes sense.
So if you are looking for help with worker’s compensation, you can call 716-684-3203.