Let Us Protect you! Business Insurance Can Save
a Company From Financial Ruin.
No single business insurance policy covers all risks. Different types of commercial insurance address different accidents, lawsuits, and damages that could impact a business. These top recommended policies for small businesses address common risks.
General liability insurance
Every business needs some form of general liability insurance to protect company assets and or owners. Commercial general liability can help small businesses pay for unexpected lawsuits, rent commercial space, and avoid bankruptcy.
A policy reassures clients that you'll be able to compensate them if you damage their property or injure someone with your work. All businesses that register their name with the State of New Jersey must give the department of consumer affairs proof of at least 500,000 combined single limit coverage to have your business name registered.
Workers’ comp insurance
If you have employees in the State of New Jersey you must have Workers’ comp insurance. This insurance protects against costly workplace injuries. U.S. employers collectively pay more than $1 billion per week for serious, nonfatal work injuries, according to Liberty Mutual. Even when workers’ comp is not required, it can protect businesses from the high cost of medical expenses associated with on-the-job injuries. Without workers’ comp, a business owner could end up paying those costs out of pocket.
Professional liability insurance
Professional liability insurance is designed for professionals who make a living off their expertise. It addresses risks unique to providing specific services, such as an engineer who misses a project deadline or an architect who makes a mistake with plans for a building.
If the client sues, this policy covers the cost of a lawsuit up to your policy limit. Clients may request a certificate of insurance as proof that you have this coverage.
Commercial auto insurance
Small businesses are required to purchase commercial auto insurance for business registered vehicles in New Jersey. Commercial auto insurance/ liability covers your company if your driver is at fault for an accident. These coverage can also help repair or replace your vehicle in the even of theft, fire or accident.