New Jersey Business Insurance

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Small businesses coverage in the Garden State

New Jersey is leading the country when it comes to its small businesses, which make up 99.6% of all businesses in the Garden State—the seventh-highest percentage of small businesses in the nation. New Jersey's more than 860,000 small businesses employ 1.8 million workers, or nearly half of the state's private workforce—and that number is growing every year, with small businesses creating more than 33,000 new jobs in 2015. 

Small business growth in New Jersey is bolstered by its many financing and incentive programs, which include lending programs, growth funds, tax credit programs and more. But with some of the strictest worker protection laws in the nation—including evolving legislation on nondisclosure agreements—it's essential for New Jersey business owners to protect their businesses through comprehensive small business insurance coverage. 

Top industries in New Jersey covered by Hiscox Business Insurance

New Jersey's small businesses are thriving in many different industries, and Hiscox's in-depth knowledge of many diverse fields allows each business to find the specific policies that work for them. Some of the New Jersey business owners who most frequently insure with Hiscox include those who work in the IT consulting, painting, janitorial, landscaping and insurance industries. 

More professions we insure in New Jersey

New Jersey Small Business Insurance

New Jersey is a good place to grow a small business. In NJ, Hiscox provides small business insurance coverage that is customized to your specific business needs.


Key New Jersey laws and conditions driving increased business liability rates

The federal government guarantees a baseline level of protection against discrimination for employees in all U.S. states. Employers with at least 15 employees may not discriminate against employees based on race, color, national origin, sex, religion or disability. Employers with 20 or more employees must guarantee freedom from age discrimination, and employers with four or more employees must guarantee freedom from discrimination based on citizenship status.

New Jersey’s anti-discrimination laws far surpass these protections. Employers with as few as one employee may not discriminate against employees based on race, color, ancestry, national origin, nationality, sex, religion, age, disability, genetic information, sexual orientation, marital status, HIV/AIDS status, gender identity or expression, atypical hereditary cellular or blood traits, or military service. These many protections greatly broaden the potential for not only discrimination lawsuits, but also for retaliation lawsuits—when an employee claims to have been fired or otherwise retaliated against for making a claim of discrimination.

In addition, in March 2019, New Jersey amended its Law Against Discrimination to prohibit nondisclosure agreements (NDAs) in employment contracts and settlement agreements that aim to conceal the details of discrimination, retaliation, and harassment claims, which further complicates matters in these cases.

Like most states, New Jersey is an "at-will" employment state, where employers can terminate employment at any time for any reason. Yet fired employees can still sue for breach of contract if, for example, they have a written contract promising job security. New Jersey also recognizes implied employment contracts, such as if an employee handbook states that employees will only be fired for good cause.

These laws are in place for the employees' protection, but they also represent a litigation risk for employers. While all business owners will do their best to mitigate these risks through careful management practices, all small business owners can use the protection and peace of mind of a comprehensive insurance policy.

New Jersey workers compensation Laws and Requirements

Just as New Jersey boasts stronger employment discrimination laws than the U.S. average, its workers compensation requirements are especially strict. While most U.S. states have a threshold of four or so employees before workers compensation coverage is required, the New Jersey Department of Labor and Workforce Development states that all New Jersey employers, even those with just one employee, are required to obtain workers compensation insurance. Sole proprietors and partners or members of an LLC may choose to exempt themselves from insurance, but all employees of a corporation, including its officers, may not.

Workers compensation coverage may be purchased from a provider, such as Hiscox, or businesses may self-insure if approved by the Commissioner of the Department of Banking and Insurance. And penalties for failing to obtain workers compensation coverage can be steep, even if no injuries occur. Businesses can face up to $5,000 for the first 10 days and up to $5,000 for each additional 10-day period of failure to obtain workers compensation insurance. Corporate officers can individually be held liable for failure to insure, and these penalties are not dischargeable in bankruptcy.

If a work injury or death occurs while the business is uninsured, the employer—including individual corporate officers and partners or members of an LLC—is directly liable for medical expenses, temporary and permanent disability, or dependency benefits. New Jersey also allows for civil penalties against the employer and its officers.

How can Hiscox help your New Jersey small business?

At Hiscox, we tailor each client's coverage to ensure that it meets each business's particular needs, from liability insurance to a business owner's policy to workers compensation and beyond. We offer a range of benefits:

  • Flexible payment options: Our monthly payment schedule, with no added fees, can help you manage a growing business's cash flow.
  • Tailored insurance: With Hiscox, you'll never pay for coverage you don't need.
  • Claims responsiveness: When a covered claim is reported, Hiscox will immediately assign a dedicated claims representative to assist you.
  • Worldwide coverage: A New Jersey business insured through Hiscox is covered for work done anywhere in the world, as long as the claim is filed in the U.S., a U.S. Territory or Canada.

Get a fast, free quote now, and get the protection you need for your New Jersey business. If you have questions, you can call us at 1-866-283-7545 and speak with a Hiscox licensed agent, Monday – Friday, 7am – 10pm ET.

Hiscox Customer Reviews

Hiscox rated 4.7/5
Rated 4.7/5

5 Stars

Nelson, Plainfield, NJ

“Good price for the insurance policy, easy and quick transaction, fast insurance certificate by email. Very satisfied”


5 Stars

Gary, New Jersey


Great experience! Very helpful!


5 Stars

Christina, Trenton, New Jersey

"My thought"

Very nice informative and very helpful.


5 Stars

Brian, Oaklyn, NJ

"Excellent experience. It was extremely easy to use and the prices were great."


4 Stars

Alba, Union City, NJ

"Good services. Good, excellent customer services and really fast services, I definitely recommend this company."


5 Stars

Keith, New Jersey

"very fast, good pricing. The system was very fast, easy to understand, and complete my application. The pricing on the policy seemed fair as well."

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This information is provided to assist you in understanding the coverage we offer and does not modify the terms and conditions of any insurance policy, nor does it imply that any claim is covered. Coverage is subject to underwriting and may not be available in all states.

Administered by Hiscox Inc., a Delaware corporation that is a licensed insurance producer in all states and Washington, D.C. 5 Concourse Parkway, 21st Floor, Atlanta, GA 30328.