What kind of business insurance is needed for a small business retail store?

Remember that, if you have employees, you will also be required to carry New York State Disability insurance for them.

Be sure that whomever writes the coverage for you has your type of business correctly classified for the liability and compensation coverage. You don't want a surprise when you receive your policy, nor do you want to go through the process of writing the coverage just to have it canceled when the company finds your classification is not something they wish to write.

You may also want to consider Loss of Business Income coverage, which offers coverage if, for some reason, you cannot do business for a period of time. This could be due to a fire or some other loss or outside force that causes you to have to close your doors until repairs are made.

Good luck with your new venture!