New Jersey general liability insurance protects your business from claims related to property damage, advertising damage, accidental injury, and physical injury. These types of claims could jeopardize the reputation and success of your business.
As a business owner or small service provider, you need general liability insurance to protect you from these kinds of unexpected problems. With even a single accident potentially resulting in a lawsuit that could severely impact your financial situation, general liability can offer a lifeline when your source of income becomes threatened.
What Does General Liability Insurance Include?
Businesses are naturally fraught with risk. The good news is there are resources that can protect your business from many of them. General business liability insurance is designed to cover your business from a number of known and unknown risks. Here are just a few areas of protection included with New Jersey general liability insurance:
- Property damage and physical injury: Property damage and physical injury coverage help to safeguard your business against several business claims alleging financial loss due to physical injury or property damage, deriving from your products or operations. Think of a slip and fall lawsuit.
- Advertising problems: This protects the NJ business from particular claims from third parties that your business infringed on particular copyrights when advertising products or services.
- Reputational damage: The reputational damage component protects your business from claims of harmful prosecution, fake arrest, slander, libel, inappropriate eviction and abuse of privacy legal rights, just to name a few.
- Harm to rented property: This helps to protect your business from particular claims that may happen to the rented property during your business operations, such as damages caused by lightning, fire or explosions.
- Medical bills: New Jersey general liability insurance will protect your organization from medical claims brought forward, such as if somebody becomes injured on-premises and needs medical treatment.
NJ general liability insurance will help you manage these kinds of problems. Some clients might even require the receipt of a particular level of general liability before they’ll accept services or goods from you.
NJ General Liability Insurance Price
The price of your New Jersey general liability insurance policy is dependent on several aspects. Factors that might affect cost are a business type, its location, its total number of workers, as well as the risk level your business operates within. For instance, a roofer working on a roof faces much higher dangers than an accountant sitting behind a desk.
Within our litigious community, a lot more businesses are getting sued because of problems like libel, slander, damage to property, and physical injury. Businesses can also be prosecuted even if they haven’t done something wrong. For this reason, general liability insurance protection is increasingly important.