Business Insurance in New Jersey

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Recommended insurance policies for small businesses in New Jersey

General liability insurance icon

General liability insurance

This type of business liability insurance is important for all New Jersey businesses. It covers common risks, including customer injuries. Most commercial leases require this coverage.

  • Customer bodily injuries
  • Damaged customer property
  • Libel and other advertising injuries
Professional liability insurance icon

Professional liability insurance

This policy, also called errors and omissions insurance (E&O), protects New Jersey businesses that provide professional services or advice. It covers lawsuits related to work performance.

  • Work mistakes and oversights
  • Professional negligence lawsuits
  • Late or incomplete work
Cyber liability insurance icon

Cyber liability insurance

This policy covers financial losses from data breaches and cyberattacks. It's recommended for New Jersey businesses that handle credit card numbers and other sensitive data.

  • Customer notification expenses
  • Fraud monitoring services
  • Data recovery costs
Business owner’s policy icon

Business owner’s policy

A BOP is a cost-effective way for New Jersey small business owners to purchase commercial property insurance and general liability coverage in one plan.

  • Customer accidents
  • Business property damage
  • Business interruption coverage
Workers’ compensation insurance icon

Workers’ compensation insurance

State law requires workers’ comp insurance for all New Jersey businesses that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.

  • Employee medical expenses
  • Partial missed wages
  • Lawsuits over employee injuries
Commercial auto insurance icon

Commercial auto insurance

This policy is required for business-owned vehicles in New Jersey. It covers injuries and property damage in an accident, along with vehicle theft, vandalism, and weather damage.

  • Accidents involving business vehicles
  • Theft of a commercial vehicle
  • Damage to a company vehicle
Looking for different coverage? See more policies.

New Jersey business insurance requirements

State laws can affect which business insurance coverage you need. These policies are required everywhere in New Jersey, from Trenton to Newark.

Blue check mark

Workers' compensation insurance

The state of New Jersey requires all businesses with employees, full-time or part-time, to carry workers’ compensation insurance.

This policy covers medical costs for work-related injuries and illnesses. It also provides disability benefits for injured New Jersey workers.

Blue check mark

Commercial auto insurance

All business-owned vehicles in New Jersey must be covered by commercial auto insurance. This policy covers the cost of accidents in work vehicles.

New Jersey offers basic and standard auto insurance policies. The standard plan includes a minimum of:

  • $15,000 per person bodily injury liability
  • $30,000 per accident bodily injury liability
  • $5,000 property damage liability per accident
  • $15,000 personal injury protection (PIP)

Trucking companies may need additional coverage to comply with regulations.

Though it's not required, personal vehicles driven for work purposes should be covered by hired and non-owned auto insurance (HNOA), as personal auto policies usually exclude business use. It can be added to a general liability policy or a business owner's policy (BOP).

How much does small business insurance cost?

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Commercial insurance can be affordable for New Jersey business owners. Factors that influence the cost include:

  • Type of business and its risks
  • Business operations and location
  • Number of employees
  • Types of insurance purchased
  • Policy limits and other coverage options
View Small Business Insurance Costs
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Find the right policies and get your certificate of insurance

Insureon's licensed agents can help you find policies that fulfill New Jersey's requirements and your business insurance needs. Once you've purchased insurance with us, you can download a certificate of insurance by logging into your account.

In New Jersey, insurance agencies, agents, and brokers are licensed by the New Jersey Department of Banking and Insurance. Insureon is licensed in New Jersey as BIN Insurance Holdings LLC (NPN 15752926) for property and casualty insurance and for surplus lines (license number 1281440). You can verify our licensure with the National Association of Insurance Commissioners by selecting New Jersey, licensee, and business entity, then entering our NPN.

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