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.