Finding small business insurance in New Jersey can be intimidating for new business owners. Rather than getting caught up in the terminology and number of available options, here are two simple coverages that you’ll need to carry to ensure your business is protected from day one.
Property insurance covers your building, furniture, equipment and digital property. If your property is damaged or destroyed, your policy will pay to repair or replace it up to your chosen limits. Covered incidents usually include fires, storms, vandalism and theft. Certain policies will even offer reimbursement for revenue that you may have missed out on because of your lost or damaged property.
There are different types of liability insurance, but the concept is rather simple. Liability insurance is available to be used in case a third party experiences bodily injury or property damage because of your business activities. Your policy will be available to cover any attorneys’ fees, settlements, judgments or any other fees for which you are found liable.
While property and liability insurance are two of the more popular insurance coverages, there are many others that may be relevant to your business. An agent with experience in small business insurance in New Jersey can help you package your policy to include all the appropriate coverages according to your needs.