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

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