Popular Questions about New Jersey Business Insurance

If you don't have adequate business insurance, you'll have to pay claims out of pocket using your business's revenue to cover the cost of property damage, workplace injuries and liability lawsuits.

40% of small businesses are likely to experience a property or general liability claim in the next 10 years.

  • Theft or burglary: Average cost per claim - $8,000
  • Water damage and freezing pipes: Average cost per claim - $17,000
  • Wind and hail damage: Average cost per claim - $26,000
  • Fire damage: Average cost per claim - $35,000
  • Customer slip and fall: Average cost per claim - $20,000

Pay For Damage To Your Building

  • Example: A tree falls on your office building.

Pay For Damage To Your Business Property

  • Example: A fire destroys all your computers.

Pay For Damage To Someone Else’s Property

  • Example: A contractor does a poor job of installing a cabinet, resulting in its falling and breaking homeowner's kitchenware.

Pay For Someone Else’s Medical Bills

  • Example: A customer slips and falls on your recently mopped floor and breaks an arm.

Pay For Accidents in Company Vehicles

  • Example: Your salesperson rear-ends someone while driving to an appointment.

Pay For Employee Injuries & Compensation

  • Example: An employee falls off a ladder at work and can’t work for two weeks.

New Jersey business owners don't have to purchase commercial insurance policies, but some aspects of coverage are required. For instance, if you have a company vehicle, you'll need commercial auto insurance to comply with state laws. If you hire employees, you'll need to carry workers' compensation insurance. A local independent agent can give you details on what coverages are required for your business.

It primarily depends on how risky your business is. The riskier your business is, the higher your insurance will be. Here are two examples:

  • A sole proprietor who owns a garment hemming business: $260 per year
  • A commercial landscaper with five employees who operate heavy machinery: $22,700 per year

New Jersey commercial insurance premiums are based on several variables, such as the risks for your business property, liability threats, and the amount of coverage you want. Costs for coverage will vary significantly from one industry to the next, so it's always wise to consult with an experienced insurance agent before selecting a policy.

  • There are 475 insurance agents in New Jersey who are ready to help.
  • Last year 5,790 residents were helped by agents.

An independent insurance agent compares policies from multiple companies to find the best coverage for your needs.

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How does business insurance work?

Find the Best Insurance in Your City

National Business Insurance Stats

Number of businesses in the US: 27,626,360

Burglary rate per 1,000 residents in the US: 3.76

Auto theft rate per 1,000 vehicles in the US: 2.29

CityNo. businessesBurglaries / 1,000 peopleAuto thefts / 1,000 cars
Basking Ridge<2500.930.47
Bloomfield42194.034.45
Brick59873.491.17
Cherry Hill81477.984.29
Egg Harbor35469.670.94
Elizabeth114835.666.72
Englewood43603.10.87
Evesham44524.261.58
Ewing24623.320.77
Fair Lawn37521.870.62
Franklin< 2500.620.21
Hackensack59121.121.11
Hamilton Square15172.821.22
Hoboken59461.920.56
Hopatcong10991.740.1
Howell42381.430.52
Jackson Township41721.280.49
Jersey City236813.582.07
Lower Township18395.293.04
Maplewood29363.041.74
Middletown58551.090.8
Mount Laurel40822.461.71
New Brunswick21265.580.56
Newark228004.047.54
Passaic46822.792.17
Paterson103236.54.56
Pennsauken28269.721.89
Pennsville<2502.361.57
Phillipsburg8374.710.97
Raritan Township19430.520.38
Summit25590.820.45
Toms River87812.810.4
Troy Hills57671.280.99
Union City63351.671.5
Vernon17832.711.16
Vineland41459.191.22
Washington Township14100.150.09
West Milford22582.690.22
Woodbridge<2501.750.61


  1. Middletown, NJ
  2. Business Insurance Common Coverage Options
  3. 1 in 129 people experience property crime.
  4. The property crime rates in Middletown are much lower than the national average, which could help lower costs on commercial business insurance.
  5. Commercial auto thefts in Middletown
  6. In areas where auto theft is common, rates for business auto insurance tend to increase. Other factors that influence your premium include the number and types of vehicles you are insuring and the risk of collisions in your city.
  7. Finance and insurance industry
  8. Workers' compensation insurance is required for all businesses with employees regardless of what industry you work in. Health care is the largest industry in Middletown, with 16% of businesses in this sector. Finance and insurance businesses rank in second place at 13%. Rates for workers' comp coverage will vary depending on the hazards you face in the workplace. Healthcare workers tend to face higher risk s of work-related illness and injuries compared with employees in the finance and insurance fields. That's why workers' comp coverage is more expensive for healthcare services.


  1. Woodbridge, NJ
  2. Business Insurance Common Coverage Options
  3. 1 in 61 people experience property crime.
  4. Property damage is a major headache for businesses in Woodbridge, but vandalism, theft and arson are realities that you have to be prepared to face. Commercial property insurance will cover the cost of damage without tapping into your business revenue.
  5. Commercial auto thefts in Woodbridge
  6. In cities where vehicle theft is common, commercial auto insurance tends to be more expensive. In Woodbridge, the crime rate is relatively low, so you could see some savings on your insurance premiums.
  7. Retail trade industry
  8. Workers' compensation insurance is a coverage that all businesses need before hiring employees. Your rate will be based on hazards that are common to your industry. The top-ranking industries in Woodbridge are professional, scientific and technical services at 15% and retail trade at 14%. Premiums are vastly different for these industries. Here's why: Working in the retail environment increases the risk of injuries, leading to more frequent claims than in professional or tech service offices.


  1. Lower Township, NJ
  2. Business Insurance Common Coverage Options
  3. 1 in 26 people experience property crime.
  4. Severe weather isn't the only threat to your business property. Property crimes like vandalism and arson can also lead to extensive damage, but commercial insurance will cover repairs.
  5. Auto thefts in Lower Township
  6. If your business owns vehicles, you'll need commercial auto insurance to protect against collisions, liability and auto theft. Fortunately, car theft is pretty rare in Lower Township, which could lower your rates on insurance.
  7. Healthcare and retail trade industry
  8. Healthcare services is the largest industry in Lower Township, accounting for 18% of businesses. Next in line is retail trade with 14%. Both industries typically require multiple employees, so businesses must have workers' compensation insurance to satisfy state requirements. Workers' comp rates are based on the risk level in your particular field of work. Because construction workers face much higher work-related hazards than healthcare workers, workers' comp premiums are much higher for businesses in the construction industry.


  1. Washington Township, NJ
  2. Business Insurance Common Coverage Options
  3. 1 in 60 people experience property crime.
  4. Property crimes like arson, vandalism and theft pose an ongoing threat to Washington Township businesses. In areas where the crime rate is high, you could see an increase in your premium for commercial property insurance.
  5. Commercial auto thefts in Washington Township
  6. Company vehicles need insurance, just like your personal car. Rates for commercial auto insurance are based on several factors, but the auto theft rate in your area will play a big role in how much you pay for coverage.
  7. Construction industry
  8. Washington Township businesses that hire employees are required to carry workers' compensation insurance. Depending on the industry you work in, your rates could vary significantly. In low-risk workplaces like professional, scientific and technical services, workers' compensation is very affordable. But for the 9% of Washington Township businesses working in the construction industry, workers' comp is a major expense. Rates are higher for construction companies because of the elevated risk of work-related injuries.


  1. Parsippany-Troy Hills, NJ
  2. Business Insurance Common Coverage Options
  3. 1 in 120 people experience property crime.
  4. The property crime rate in Parsippany-Troy Hills is well below the state average, which is good news for business owners. A low crime rate tends to bring down rates on commercial property insurance, saving you money on the coverage you need to protect your business.
  5. Commercial auto thefts in Parsippany-Troy Hills
  6. Commercial auto insurance is another important piece of the business insurance puzzle. If your business owns vehicles, you'll need insurance. In areas with a high auto theft rate, premiums tend to be higher. Luckily, auto theft is pretty rare in Parsippany-Troy Hills, so you should see some savings on your rate.
  7. Healthcare and educational services industry
  8. The top industry is Parsippany-Troy Hills is health care, which covers 12% of local businesses. Educational services ranks in second place with 10%. Both of these industries need workers' compensation coverage, but the cost is drastically different from one industry to the next. Workers' comp rates are based on the risk of work-related injuries. If you work in a hazardous environment, you'll see a major increase in workers' compensation insurance premiums.


  1. Evesham, NJ
  2. Business Insurance Common Coverage Options
  3. 1 in 85 people experience property crime.
  4. In addition to weather-related threats, property crime can also cause damage to your business. If you don't have adequate property insurance, your business will have to pay for damage out of pocket. That's why commercial property coverage is an important part of any business insurance policy in Evesham.
  5. Commercial auto thefts in Evesham
  6. Company vehicles need to be covered by commercial auto insurance. Your rate will be based on several factors, but the risk of collisions and auto theft will play a major role in determining your premium.
  7. Healthcare and educational services industry
  8. Healthcare services make up 19% of Evesham businesses, with educational services ranking second at 15%. Workers' compensation rates for these industries are based on workplace hazards and risks of employee injury. Because workers are more likely to get injured in educational settings, rates are higher for schools than are for doctors' offices.