Required Commercial Insurance in New Jersey

Commercial insurance is a type of insurance that covers business. There are some types that are required for businesses in the state of New Jersey. There are others that are smart choices for business owners to carry. If you need commercial insurance, call us at Five Star Insurance Agency in Fords, NJ to talk with an agent. 

Commercial Auto Insurance

Many businesses own vehicles that are used for business purposes. If your business owners one or more vehicles, it’s required that you get commercial auto insurance on them. Not only is it the legal way to protect your vehicles, but it also saves you from having personal insurance not pay for an accident because it’s a work vehicle. If you have a personal vehicle that you use for business but that is not owned by that business, you should get a hired and non-owned policy to cover it. Commercial auto coverage comes with its mandatory minimums of coverage, just like personal insurance does. 

Workers’ Compensation Coverage

This type of insurance pays the medical bills of workers who become sick or injured while they’re on the job. This type of insurance coverage is required by the state of New Jersey for any business that has any number of employees, even just one part-time employee. 

General Liability Insurance

This type is not required but is highly recommended for business owners. It handles a wide range of circumstances that you or your business could be liable for. It’s an extra bit of protection that can certainly come in handy someday. 

If your business needs insurance, don’t wait. Call us right away at Five Star Insurance Agency in Fords, NJ to make an appointment with an agent to talk about your insurance needs.