Business owners expose themselves to certain risks from the day they start a business. Even before recruiting the first employee, it's important to have the right insurance. A single lawsuit or catastrophe could be enough to bring down your business even before getting off the ground.
Fortunately, businesses have access to a wide variety of commercial insurance in New Jersey from Castillo and Associates, Inc. to protect them from risks. Here are some insurance types that we highly suggest:
All businesses need liability insurance. The coverage protects you, your products, and your employees from damages and injuries caused to a third party.
If you own or lease business property, consider buying property insurance. The policy protects you in case of fire, smoke damage, and vandalism. Also, the coverage includes office equipment, inventory, computers, and your tools.
As long as you have employees, worker's compensation is a requirement in New Jersey. The policy offers wage replacement and medical benefits to employees injured at work. In return, the employees can't sue you for the incident.
As an entrepreneur, it's vital to have a worker's compensation policy. It protects you and your business from legal litigations and complications. Penalties for non-compliance are also very stiff.
Professional liability insurance provides protection for failure to render professional services or doing them improperly. The policy is applicable for firms offering professional services such as consultants, lawyers, technology providers, and real estate agents among many others.
Today, most professionals operate small businesses from home. Your home insurance doesn't cover home-based businesses like commercial insurance. If you're running one, speak to one of our agents. They will guide you through the process to find coverage for your inventory and equipment.
If an event occurs that stops your business operations, you will suffer a loss of income. You will not be able to make sales, work in the office, or manufacture products. A business interruption policy compensates you for lost income.
If you need commercial insurance in New Jersey, call Castillo and Associates, Inc. today. An agent is standing by.