There are several options for Glen Rock, NJ insurance and each carrier seems to put a different spin on what they offer. To help you make the right choice, here are the basic coverages that you should plan to carry so that all your insurance bases covered.
General Liability Insurance
General liability covers your business in case a lawsuit is brought against you due to harm that was done to a non-employee third party or their property by your business. Payments for legal fees, settlements or judgments are covered by this policy.
Commercial Property Insurance
Commercial property insurance covers the cost to repair or repair physical assets including your office, furniture, equipment and computers. Some policies even cover your data and will pay you for potential revenue that you missed out on due to a lost or damaged item.
Worker’s Compensation Insurance
If you have any employees, then you should carry workers’ compensation insurance. It covers payments related to any injury or death of an employee while performing business activities.
Errors &; Omissions Insurance
It provides coverage for your business if a lawsuit is brought against you by a client who experienced a loss due to the service you provided. Medical practitioners and legal professionals are examples of professional service providers that need E&O insurance.
Other types of insurance options exist, but these four will ensure that your bases are covered for the most part. With these in place, you can work with your Glen Rock, NJ insurance agent to customize your policy for any odd coverages.