National Business Insurance Stats

Number of businesses in the US: 30,819,176

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
Bloomfield8911.151.23
Elizabeth2,1812.845.88
Englewood6482.230.77
Ewing8822.091.27
Fair Lawn1,0200.970.51
Hackensack2,0951.210.76
Hoboken1,3681.360.58

New Jersey Business Insurance FAQ - Quick Answers

Business insurance premiums in New Jersey will be different for every company due to varying risk factors. Here are some factors that carriers use to determine your rates:

  • Type of industry
  • Number of employees
  • Gross annual sales
  • Location of business
  • Number of company vehicles
  • Safety practices in place
  • Past claims reported
  • Number of years in operation

While not every policy is required as a business owner, some are. In New Jersey, workers' compensation and commercial auto coverage are two mandated policies. Other coverages are not typically a requirement but are still necessary.

In New Jersey, there are several policy options for your business based on your unique risk exposures. Here are some policies that could apply to your operation:

General liability insurance is your primary policy from which most other coverages stem. Here is what it protects your New Jersey business from:

If you want to offer health insurance to your staff as a small business, then you'll have some options. First, you won't be required to provide health coverage with fewer than 50 employees, putting most small businesses in the clear. However, you can get quotes on affordable health insurance from your independent insurance agent to have added benefits for your team members.

When it comes to selecting the best insurance company for your business, you want to be sure you're getting a good policy. In New Jersey, Nationwide, Hiscox, and Hanover are common carriers used among peers. This is because of their excellent claims service and broad coverage offerings.

Do You Know What Your Business Insurance Covers in New Jersey?

Find the Best Insurance in Your City

  1. Middletown, NJ
  2. Business Insurance Common Coverage Options
  3. The property crime rates in Middletown are much lower than the national average, which could help lower costs on commercial business insurance.
  4. Commercial auto thefts in Middletown
  5. 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 insure and the risk of collisions in your city.
  6. Finance and insurance industry
  7. Workers' compensation insurance is required for all businesses with employees, regardless of their industry. Rates for workers' comp coverage will vary depending on the hazards you face in the workplace. Healthcare workers tend to face higher risks of work-related illness and injuries than 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. Property damage is a significant headache for businesses in Woodbridge, but vandalism, theft, and arson are realities you must be prepared to face. Commercial property insurance will cover the cost of damage without tapping into your business revenue.
  4. Commercial auto thefts in Woodbridge
  5. Commercial auto insurance tends to be more expensive in cities where vehicle theft is common. In Woodbridge, the crime rate is relatively low, so you could see some savings on your insurance premiums.
  6. Retail trade industry
  7. 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. Premiums are vastly different for each industry. Here's why: Working in retail 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. 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.
  4. Auto thefts in Lower Township
  5. 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.
  6. Healthcare and retail trade industries
  7. Lower Township businesses could require multiple employees, so companies must have workers' compensation insurance to satisfy state requirements. Workers' comp rates are based on the risk level in your particular field of work.


  1. Washington Township, NJ
  2. Business Insurance Common Coverage Options
  3. Property crimes like arson, vandalism, and theft pose an ongoing threat to Washington Township businesses. In areas with high crime rates, you could see an increase in your premium for commercial property insurance.
  4. Commercial auto thefts in Washington Township
  5. 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 significantly affect how much you pay for coverage.
  6. Construction industry
  7. Washington Township businesses that hire employees must carry workers' compensation insurance. Depending on the industry you work in, your rates could vary significantly. Workers ' compensation is affordable in low-risk workplaces like professional, scientific, and technical services. But workers' comp is a significant expense for Washington Township businesses working in the construction industry. Construction companies' rates are higher because of the elevated risk of work-related injuries.


  1. Parsippany-Troy Hills, NJ
  2. Business Insurance Common Coverage Options
  3. 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.
  4. Commercial auto thefts in Parsippany-Troy Hills
  5. Commercial auto insurance is another critical 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.
  6. Healthcare and educational services industries
  7. The top industries in Parsippany-Troy Hills 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 significant increase in workers' compensation insurance premiums. The healthcare field comes with more risk than the education industry.


  1. Evesham, NJ
  2. Business Insurance Common Coverage Options
  3. 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 the damage out of pocket. Commercial property coverage is an essential part of any business insurance policy in Evesham.
  4. Commercial auto thefts in Evesham
  5. 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 significantly determine your premium.
  6. Healthcare and educational services industries
  7. Healthcare and educational services are shared among businesses in Evesham. 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 doctors' offices.