Home » New Jersey business insurance
Category Archives: New Jersey business insurance
In all industries, business insurance will help to minimize the basic financial risks of running a business. There are industry specific risks for each company, and insurance needs can vary greatly, offering protection to individuals and to companies as a whole. If you are shopping for New Jersey business insurance, here are common types of coverage you may consider:
Workers compensation reimburses employees for medical expenses and lost wages if they are injured on the job. Independent contractors may not need this coverage.
Business property insurance will help protect the buildings and the contents of a building against vandalism and theft, and natural disasters like fire and windstorms.
Professional liability, also known as errors and omissions coverage, will protect your business’s finances if a client accuses you of mistakes or negligence. It will also protect contractors from liability risks due to losses a client may experience if the contractor provided them with advice.
Commercial vehicle insurance needs depend on state auto laws and will protect vehicles owned by your business from various damages.
There are many kinds of insurance available beyond these common types. If you are shopping for New Jersey business insurance, it is best to find an agency that specializes in covering your specific industry to find the coverage that will best fit your business.
New Jersey workers’ compensation insurance can certainly be something of a hassle, particularly if you are a business owner. However, if you want your company to be completely legal and legitimate, the coverage for your employees is nevertheless a necessity. You have probably noticed that, over the last several years, actually finding a carrier that offers the kind of plan you want in your chosen industry has become no simple task. This is because, after the recession, many carriers are still looking for ways in which to become effective and profitable again.
Knowing the Landscape
In an effort to help get these coverage providers back on stable ground, the New Jersey State Department of Labor and Workforce Development and the state governor are working to get measures in place that would help to minimize common workers’ compensation problems such as fraud. However, while these proposed new laws are solid ideas, you likely won’t see the effects of them for some time.
Keep At It
As difficult as it might be for you to locate adequate New Jersey workers’ compensation at this time, it is crucial that you stick with it so that your business can move forward. Keep your eyes open for affordable prices with coverage that accounts for special circumstances in your business’s industry.