NJ Small Home Business Insurance
The business world can eat you alive. Long commutes. Suits and ties. Heavy expenses. It’s no wonder people are opting to run their businesses from home. Writers, sales people, consultants – professionals in all sorts of industries are choosing to forego the rat race for the comfort, cost effectiveness and convenience of a home based business. But all the peace and fulfillment of that decision can turn to stress and despair if you neglect to protect yourself with home business insurance.
While you may think your home business is too small to require business owners insurance, in reality, you face the same risks as the largest Fortune 500s. And despite what you may be thinking, liability, loss and other damages won’t be covered by your homeowners insurance policy. A thorough in home business insurance plan is the only true way to protect yourself and your business from those risks. Do you know how to keep yourself protected? NJ business insurance provider The John Hawk Agency does. We’ll assess your companies’ risk, and help you select the types and amounts of coverage you need.
What are your Options for Home Based Business Insurance?
Not sure what you need when it comes to NJ business insurance? Here are some options for you to consider if you’re looking for a small home business insurance plan:
General Liability Insurance
Will clients be visiting your home office? You’ll want general liability on your home based business insurance policy to cover the costs if they happen to get injured on your property. It will also cover you when you’re entertaining clients away from the office, or going to networking events or tradeshows.
Professional Liability Insurance
We all make mistakes now and then. Errors & Omission insurance will be there to protect you if an unhappy client decides to seek legal action because of your negligence. Think of it as the equivalent of malpractice insurance for doctors or lawyers.
Products Liability Insurance
If you distribute or manufacture products, your business owners insurance should include products liability. It will protect you if one of your products happens to cause injury to someone.
Property Insurance
Severe weather, fire and vandalism can happen at any time. Protect your company's property and its contents against damage and loss with property insurance.
Business Interruption Insurance
Severe weather, fire and vandalism can also force you to close business for a while. But you can keep your capital flowing with business interruption insurance.
Workers Compensation
Do you have employees? Do you own a Sub S or C corporation and pay yourself a salary? If so, New Jersey state law requires you to carry workers compensation insurance (WC). Your small home business insurance must include WC so that medical treatment, wage replacement and permanent disability compensation are available to employees who suffer job-related injuries or illnesses. It also provides death benefits to dependents of those workers who died as a result of their employment.
Business-Related Auto Insurance
While many home business owners use one vehicle for both business and personal use, you’ll want to talk to your insurance agent about this mixed use. Your personal auto policy may not cover your business risk. Business auto insurance might be what you need, especially if you or your employees are using the vehicle strictly for business.
Still have questions? Ready to build your business owners liability insurance plan? The John Hawk Agency is the NJ business insurance provider that will help you build it. We’ll evaluate your risk, help you determine how much coverage you need and customize the perfect plan. Contact us today.
