If you run a business, small or large, getting coastal New Jersey business insurance is the best way to make sure that your hard work is financially protected. When choosing a business insurance policy, make sure that you understand the following types of business insurance:
- General Liability – General liability insurance will help protect your business against any legal issues as a result of injuries, accidents or claims of negligence. These means that the costs of defending lawsuits, damages and settlements will be at least partially covered.
- Product Liability – If your company products a product, then you’ll be liable for the safety of the consumers that use it. Product liability will protect you against any financial losses that result due to a defective product that caused bodily harm or injury.
- Commercial Property – This coverage will help protect you against any losses or damages to your company property due to wind, smoke, fire, hail storms, vandalism and civil disobedience. There are two types of commercial property insurance: all-risk and peril-specific. All-risk policies cover every type of peril unless otherwise noted. Peril-specific policies only cover the listed perils.
- Professional Liability – Professional liability insurance will cover your company against errors, negligence and malpractice in the services to your customers. Some governments require specific types of businesses to have this type of insurance coverage, such as physician practices.
For additional information on business insurance be sure to call us today at 732-280-2800 to speak to our trusted business insurance advisors.