New Jersey Business Insurance

Because IT consultants can have a huge impact on a client's business, they can benefit from professional liability insurance, also called errors and omissions insurance, which safeguards businesses that provide professional services. This policy would protect an IT consultant if, for example, a client's website crashed after the consultant updated it and the client lost revenue because the site was down. Even if the IT consultant hasn't made a mistake, the client might still make a claim of negligence.

General liability insurance would also protect an IT consultant if they accidentally damaged a client’s wall when working at the client’s site. And a cyber security insurance policy is critical for an IT consultant as it could protect against the cost of data breaches or malware attacks.

Painters are exposed to potential liability wherever they go. Services such as removing old wall coverings can expose clients and workers alike to hazards, and painters could potentially face lawsuits over damaging paint spills, slip-and-fall accidents, and even employees' comments about clients during break times. For all of these reasons, Hiscox provides customized insurance that can fit the specific needs of each New Jersey painting business.

Cleaning professionals should obtain insurance to safeguard their business and their employees from lawsuits, property damage, accidents, and related financial risks. Those who operate professional cleaning businesses know that training and experience go a long way in this physically demanding industry, and proper insurance coverage can protect their staff and their equipment.

A landscaper or gardener in New Jersey may operate heavy equipment near clients' homes and use sharp tools near clients. These activities bring a heightened risk of bodily injury and property damage that expose landscapers and gardeners to potential liability, whether their clients are primarily residential homeowners, business operators, or both. For these reasons, Hiscox provides custom insurance that can meet the specific needs of New Jersey landscapers or gardeners.

Hiscox knows the insurance business inside and out, so an insurance agent can put their trust in Hiscox's small business insurance. And just as an insurance agent makes sure that their clients are protected against risk, Hiscox makes sure that insurance professionals are protected against risks associated with being a small business owner in New Jersey.

Typically, an insurance agent will want the protection of professional liability insurance, or errors and omissions insurance, which protects businesses that provide professional services. This policy would protect an insurance agent if, for example, a client instructs the agent to purchase a policy and gives the agent a check for the premium, but the agent's assistant forgets to purchase the policy. When the uninsured client is later involved in an accident, they demand that the insurance agent pay for the loss.

General liability insurance, also known as commercial general liability (CGL), protects your business from another person or business’s claims of bodily injury, associated medical costs, and damage to property. If you're looking for contractor insurance in NJ, general liability coverage is a smart place to start. Some examples of what could be covered are below.

• Bodily injury: A client trips and falls at your business, requiring medical treatment. A general liability insurance policy could cover the claim.
• Property damage: Your employee accidentally damages a client’s countertop while working in the client’s home. A general liability policy could cover the claim.
• Personal injury: You run a social media campaign, and your employee posts an untrue claim about a competitor. A general liability policy could cover the subsequent claim for libel or slander.

Learn about how much general liability insurance costs.

Professional liability insurance, also known as errors and omissions insurance (E&O insurance), covers another person’s claims against businesses that provide professional and personal services. Some examples of what could be covered include these situations.

• Negligence: Your agency represents buyers in a real estate transaction, and your employee misses the deadline to submit paperwork to close the deal on time. A professional liability policy could cover the resulting claim.
• Misrepresentation: Your interior design firm represents to its client that necessary materials will be delivered by the time the client opens its business, but the materials arrive late. A professional liability policy could cover the resulting misrepresentation or misstatement claim.

Learn more about professional liability insurance.

Business owner's policy (BOP) includes both general liability and business property coverage. A BOP is often used to provide balanced coverage for small businesses who also want to protect their own business equipment. Some examples of what could be covered are below.

• Equipment or tools that are damaged or stolen
• Loss of electronic data
• Business interruption due to a covered loss
• Someone else’s claim of bodily injury or property damage

Learn more about business owner's insurance.

Cyber security insurance may protect businesses from network-related losses, which may result from a data breach, an extortion attempt, or a security failure. Cyber security insurance, sometimes called cyber liability or cyber risk, can cover situations like these.

• Data breach: Your consultant company’s computer system is hacked, and your client’s data, including customer information, is leaked. You are obligated to indemnify your clients for breach costs. Cyber security insurance may cover these costs and provide assistance in handling the breach.
• Extortion: An employee clicks on a link in an email that turns out to be fraudulent, infecting your computer with malware that shuts down your system until a ransom is paid. Cyber security insurance may cover the cost to respond to the demand.

Learn more about cyber security insurance.