Commercial Insurance
When it comes to operating a small business in New Jersey, there are specific insurance requirements that must be followed. Rest assured, these requirements are there to protect both your business interests, your livelihoods, and your employees. When shopping for commercial insurance, be sure to opt for plenty of liability coverage. As a general rule of thumb, make sure that you have at least as much liability coverage as the total business is worth to include all assets such as property and merchandise.
New Jersey requires that all small businesses carry at least two types of insurance - workers’ compensation and business auto. Workers’ compensation offers monetary assistance, once a deductible has been met and up to your policy limit, to pay for injuries or illnesses sustained by your employees on the job. Business auto insurance, on the other hand, requires that any vehicle titled or owned by the business requires a special commercial insurance policy. Keep in mind, that if you require employees to use their personal auto vehicles for business purposes, their auto insurance policies may not cover damages if they are involved in an accident while working. In these circumstances, opting for hired or non-auto insurance policies can help protect both you and your employees if an accident occurs.
In addition to commercial auto and workers’ compensation, although not required by New Jersey law, business owners may want to opt for additional coverage such as general liability insurance, cyber liability insurance, and professional liability insurance. At the Rapoport Insurance Agency in New Jersey, we understand that choosing a commercial insurance policy can be overwhelming and exhausting. Consequently, we strive to simplify the process by offering friendly customer service and individual attention that lends itself to the creation of a personalized commercial insurance policy. Give us a call today to schedule your no-obligation consultation and learn how we can help protect and insure your New Jersey business.
While our office is located in Freehold, NJ, we serve clients all across New Jersey, New York, and Pennsylvania.
