NEXT offers the best professional liability insurance in New York with affordable rates and strong customer support. The Hartford ranks second, while Simply Business takes third place.
Professional Liability Insurance in New York
NEXT earns the highest score of 4.76 out of 5 in our analysis of the best professional liability insurance in New York.
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Updated: October 28, 2025
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Best Professional Liability Insurance in New York: Key Takeaways
NEXT is our top pick for professional liability insurance in New York, followed by The Hartford and Simply Business.
Your industry risks, client contracts, potential claim costs and budget determine the best New York professional liability insurance for you.
Assess your needs first, then compare quotes from multiple providers to find the best professional liability insurance in New York.
Find Insurance for Your Business
Select your industry and state to get a customized quote.
Industry
State
Best Professional Liability Insurance Companies in New York
| NEXT Insurance | 4.76 | $82 |
| The Hartford | 4.62 | $82 |
| Simply Business | 4.51 | $89 |
| biBERK | 4.46 | $91 |
| Coverdash | 4.45 | $90 |
| Nationwide | 4.43 | $97 |
| Hiscox | 4.39 | $88 |
| Progressive Commercial | 4.37 | $89 |
| Chubb | 4.28 | $103 |
| Thimble | 4.25 | $86 |
How Did We Determine These Rates and Rankings?
These rates are estimates based on MoneyGeek's proprietary analysis of small businesses with two employees across 79 major industries and should not be considered quotes. Your actual rate will differ based on business-specific factors. Contact insurers directly for accurate pricing tailored to your business needs.
LEARN MORE ABOUT BUSINESS INSURANCE
Professional liability alone won't cover all your business risks in New York, so understanding other coverage types helps create complete financial protection.
Best New York Professional Liability Insurance Reviews
Most professionals need professional liability insurance, but not all providers offer the same value. We've broken down what differentiates these top providers and why they made our list for New York businesses.
NEXT
Overall Best Provider
MoneyGeek Rating
4.8/ 5
4.8/5Affordability
4.7/5Customer Experience
4.8/5Coverage Options
Average Monthly Premium
$82These rates are for small businesses with two employees across 79 major industries or business types and focus solely on professional liability policies.Our Survey: Claims Process
3.9/5Our Survey: Recommend to Others
4.8/5
The Hartford
Runner-Up for Best Provider
MoneyGeek Rating
4.6/ 5
4.6/5Affordability
4.6/5Customer Experience
4.7/5Coverage Options
Average Monthly Premium
$82These rates are for small businesses with two employees across 79 major industries or business types and focus solely on professional liability policies.Our Survey: Claims Process
4.5/5Our Survey: Recommend to Others
4.5/5
Cheapest Professional Liability Insurance Companies in New York
NEXT offers the cheapest professional liability insurance in New York at $82 monthly ($988 annually). The Hartford provides another affordable option with similar monthly premiums of $82.
| NEXT Insurance | $82 | $988 |
| The Hartford | $82 | $989 |
| Thimble | $86 | $1,038 |
| Hiscox | $88 | $1,055 |
| Simply Business | $89 | $1,065 |
| Progressive Commercial | $89 | $1,066 |
| Coverdash | $90 | $1,081 |
| biBERK | $91 | $1,089 |
| Nationwide | $97 | $1,165 |
| Chubb | $103 | $1,230 |
How Did We Determine These Rates?
These rates are estimates based on MoneyGeek's proprietary analysis of small businesses with two employees across 79 major industries and should not be considered quotes. Your actual rate will differ based on business-specific factors. Contact insurers directly for accurate pricing tailored to your business needs.
Average Cost of Professional Liability Insurance in New York
Professional liability insurance costs $90 monthly ($1,077 annually) in New York, which is $12 more than the national average. Home-based businesses pay around $43 per month, while mortgage brokers average $193. Rates also depend on your business location, claims history and coverage limits.
| Accountants | $168 | $2,018 |
| Ad Agency | $115 | $1,379 |
| Auto Repair | $96 | $1,146 |
| Automotive | $86 | $1,030 |
| Bakery | $62 | $741 |
| Barber | $50 | $595 |
| Beauty Salon | $57 | $685 |
| Bounce House | $69 | $822 |
| Candle | $50 | $595 |
| Cannabis | $140 | $1,679 |
| Catering | $91 | $1,089 |
| Cleaning | $63 | $757 |
| Coffee Shop | $71 | $847 |
| Computer Programming | $123 | $1,479 |
| Computer Repair | $72 | $864 |
| Construction | $90 | $1,075 |
| Consulting | $125 | $1,500 |
| Contractor | $72 | $867 |
| Courier | $57 | $681 |
| DJ | $53 | $636 |
| Daycare | $124 | $1,488 |
| Dental | $96 | $1,157 |
| Dog Grooming | $63 | $755 |
| Drone | $121 | $1,453 |
| Ecommerce | $73 | $871 |
| Electrical | $74 | $889 |
| Engineering | $120 | $1,443 |
| Excavation | $79 | $953 |
| Florist | $44 | $527 |
| Food | $128 | $1,536 |
| Food Truck | $69 | $825 |
| Funeral Home | $93 | $1,120 |
| Gardening | $47 | $561 |
| HVAC | $94 | $1,130 |
| Handyman | $62 | $739 |
| Home-based business | $43 | $514 |
| Hospitality | $86 | $1,036 |
| Janitorial | $58 | $696 |
| Jewelry | $72 | $862 |
| Junk Removal | $78 | $937 |
| Lawn/Landscaping | $61 | $726 |
| Lawyers | $166 | $1,988 |
| Manufacturing | $67 | $808 |
| Marine | $101 | $1,207 |
| Massage | $122 | $1,460 |
| Mortgage Broker | $193 | $2,313 |
| Moving | $94 | $1,123 |
| Nonprofit | $58 | $694 |
| Painting | $74 | $893 |
| Party Rental | $64 | $762 |
| Personal Training | $81 | $978 |
| Pest Control | $112 | $1,344 |
| Pet | $53 | $639 |
| Pharmacy | $66 | $796 |
| Photography | $73 | $872 |
| Physical Therapy | $109 | $1,305 |
| Plumbing | $105 | $1,257 |
| Pressure Washing | $66 | $797 |
| Real Estate | $145 | $1,736 |
| Restaurant | $95 | $1,139 |
| Retail | $63 | $757 |
| Roofing | $113 | $1,362 |
| Security | $115 | $1,386 |
| Snack Bars | $54 | $652 |
| Software | $108 | $1,297 |
| Spa/Wellness | $127 | $1,523 |
| Speech Therapist | $117 | $1,399 |
| Startup | $83 | $992 |
| Tech/IT | $113 | $1,354 |
| Transportation | $110 | $1,317 |
| Travel | $111 | $1,337 |
| Tree Service | $85 | $1,022 |
| Trucking | $127 | $1,524 |
| Tutoring | $71 | $855 |
| Veterinary | $135 | $1,624 |
| Wedding Planning | $87 | $1,047 |
| Welding | $90 | $1,078 |
| Wholesale | $72 | $868 |
| Window Cleaning | $71 | $857 |
How Did We Determine These Rates?
These rates are estimates based on MoneyGeek's proprietary analysis of small businesses with two employees across 79 major industries and should not be considered quotes. Your actual rate will differ based on business-specific factors. Contact insurers directly for accurate pricing tailored to your business needs.
How Much Professional Liability Insurance Do I Need in New York?
Professional liability insurance requirements differ by profession in New York, with some fields like health care and law facing mandatory coverage rules. Even when the state doesn't require it, your coverage amount should reflect your risk exposure and clients' expectations. Many higher-risk professions carry at least $1 million per occurrence and $3 million aggregate coverage.
Your coverage decision depends on three factors:
Your Industry Risk
Some industries in New York carry greater liability exposure than others, directly affecting your coverage needs. Technology consultants and architects working on major projects in Manhattan or Brooklyn face higher risk of claims. Accountants' professional liability risks or that of real estate agents serving smaller communities in Albany or Syracuse are lower.
Client Requirements
Many clients and contracts in New York require proof of professional liability insurance at specific limits before work can begin. Corporations headquartered in New York City, state government contracts, and large organizations often mandate minimum coverage levels of $1 million or more. Meeting these requirements is essential for securing and maintaining business relationships.
Potential Claim Costs
Your coverage should reflect the possible financial impact of a professional liability lawsuit in New York's legal environment. Small mistakes might result in claims of $25,000 to $50,000, while errors affecting major construction projects or corporate clients could lead to six-figure damages plus substantial legal defense costs. New York's higher legal fees and settlement amounts make adequate coverage limits particularly important.
How to Get the Best Professional Liability Insurance in New York
Our step-by-step process shows how to get business insurance that matches your New York professional liability needs and budget.
- 1Evaluate Your Risk Exposure
Start by analyzing your business risks and client contract requirements in New York. A regional architecture firm typically needs higher coverage limits than an independent marketing consultant. Your industry exposure and contractual obligations determine the right protection amount.
- 2Find a Knowledgeable Agent
Look for an agent who knows New York's business landscape and understands how business insurance costs vary by location and industry. Local expertise helps match coverage to regional client expectations and professional standards. An experienced agent saves time and prevents coverage mistakes.
- 3Collect Multiple Quotes
Request quotes from at least three insurers, comparing affordable business insurance rates and policy terms like exclusions and deductibles. A $1,000,000 policy can vary significantly in actual protection offered.
- 4Research Insurer Quality
When researching business insurance in New York, look beyond price. Before deciding, check each company's AM Best financial rating and claims handling reputation. Look for insurers with experience in your specific industry and positive professional reviews. Strong financial ratings indicate the company can pay claims when needed.
- 5Explore Bundling Options
Many insurers offer discounts when combining professional liability with other types of business insurance coverage, like general liability or business owner's coverage. These bundle discounts can reduce overall costs while simplifying policy management. Ask each provider about available package deals.
- 6Maintain Continuous Coverage
Professional liability operates on a claims-made basis, meaning coverage only applies when the policy is active. Any gap in coverage leaves you vulnerable to lawsuits from past work. Always secure prior acts coverage or tail coverage when switching carriers.
How to Prevent Professional Liability Claims in New York
Most professional liability claims in New York result from poor communication and vague client expectations rather than actual mistakes. Small disputes can quickly generate thousands in legal fees. These proven strategies help prevent conflicts and shield your business from expensive claims.
Document Everything
Keep written proof of all client interactions, including email confirmations, scope changes and client approvals. This documentation helps prevent disputes by providing a clear record of what was agreed upon and when decisions were made. Written records serve as your strongest defense if disagreements arise about project details or deliverables.
Use Detailed Contracts with Clear Scope
Create contracts that clearly define responsibilities, timelines and deliverables for every project. Outline what services are included and what falls outside the scope to avoid conflicts over additional work requests. Well-defined agreements protect both you and your clients by establishing clear boundaries from the start.
Communicate Project Changes Immediately
Confirm all client-requested changes in writing before moving forward with any modifications. Document how these changes affect timelines, budgets and final deliverables to prevent misunderstandings later. This practice ensures everyone stays aligned and prevents disputes about unauthorized work or cost overruns.
Set Realistic Expectations Upfront
Be transparent with clients about timelines, potential challenges and expected results from the beginning of each project. Honest communication about your capabilities helps avoid overpromising and reduces the likelihood of client dissatisfaction. Clear expectations lead to better client relationships and fewer liability issues.
Keep Detailed Project Records
Maintain thorough records of all work performed, decisions made and the reasoning behind your professional recommendations. This documentation demonstrates your diligence and professional standards if your work is ever questioned. Detailed records can provide crucial protection and show that you followed industry best practices.
New York Professional Liability: Bottom Line
Selecting professional liability insurance in New York begins with understanding your business risks and client requirements. NEXT takes our top rating, but your industry, contracts and budget should drive your final choice. Assess your needs first, then compare affordable options with a local agent. The right policy delivers strong financial protection for your business.
New York Professional Liability Insurance: FAQ
Here are frequently asked questions about professional liability insurance in New York.
What does professional liability insurance cost in New York?
Professional liability insurance in New York costs between $82 and $103 monthly, based on available providers. Your actual premium depends on your industry's risk level, claims history, coverage limits and business location within the state.
Which professional liability insurance company is best in New York?
NEXT ranks as the top professional liability insurance provider in New York, scoring 4.76 out of 5 for its affordable rates and strong customer service. The Hartford follows closely at 4.62, while Simply Business rounds out the top three with a 4.51 rating, both offering solid coverage options for New York businesses.
How much professional liability coverage do I need in New York?
Professional liability coverage needs in New York vary based on your industry's risk level, client contract demands and potential lawsuit expenses. High-risk professions like architects and consultants need higher coverage limits, while lower-risk businesses can often get by with smaller amounts of protection.
What's the difference between professional liability and E&O insurance?
Professional liability and errors and omissions (E&O) insurance both protect you from claims about mistakes in your professional services. Some industries prefer one term over the other, but the coverage works identically regardless of what you call it.
How We Scored the Best Professional Liability Insurance Companies in New York
Professional liability lawsuits can destroy small businesses in New York or force them to close permanently. We studied insurers throughout the state to identify which companies provide the most solid financial protection for businesses from new startups to well-established firms.
Our Scoring System
- Affordability (50%): Price drives most small business insurance choices. We gave affordability the highest weight because companies need strong coverage that fits their budgets without breaking the bank.
- Customer experience (30%): When facing a claim, businesses need insurers who respond quickly and handle cases well. We analyzed J.D. Power scores and complaint records from the state's Department of Insurance.
- Coverage options (15%): We studied how flexible each policy is and what exclusions apply to different professional services across local markets.
- Financial strength (5%): We checked AM Best financial ratings to make sure recommended insurers have enough resources to pay professional liability claims when businesses need them most.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
sources
- Alliance Health. "Provider Insurance Requirements." Accessed November 6, 2025.