New Jersey Business Insurance

Customized protection for your New Jersey business

As a New Jersey small business owner, you should consider business insurance to protect from a variety of risks related to your business property, employees and daily operations. Choosing to run a business in New Jersey without insurance could lead to handling a costly claim on your own.

There are over 952,000 small businesses in New Jersey that collectively employ nearly 49% of the state’s workforce, according to the U.S. Small Business Administration. Each of these 1.9 million employees are required by law to be protected by a workers’ compensation policy.

Customize a quote for workers’ compensation, general liability and more through the Progressive Advantage^® Business Program. Our licensed professionals can help you build a policy that meets your needs and budget.

Types of NJ business insurance

General Liability

This is the most common business insurance coverage, and nearly all businesses in New Jersey should have it. It protects against third-party bodily injury and property damage, as well as personal and advertising injury.

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Commercial Auto

This coverage protects against damage to your vehicles and trailers, as well as injuries or property damage related to their use. Your personal auto policy doesn’t cover vehicles while they’re being used for business reasons.

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Workers' Compensation

Businesses in New Jersey are required to have workers' comp insurance if they have one or more employees. Workers’ compensation insurance helps pay for expenses related to employees becoming injured or ill while working for you.

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Business Owners Policy (BOP)

A BOP combines property and liability coverage into one easy-to-manage policy. It’s a great option for small to medium-sized businesses that rent or own commercial property, such as a storefront, warehouse or office building.

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Professional Liability

New Jersey businesses that offer professional services should consider this coverage. It protects businesses from claims of professional negligence, both actual or alleged, and helps pay for defense costs. It’s also known as errors and omissions insurance (E&O).

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Cyber Insurance

This protects against incidents like data breaches and cyber attacks. It includes first-party and third-party protection for things like investigative services, data recovery and legal costs. Businesses that store or manage customer data, like credit card information, typically need this coverage.

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How much does business insurance cost in New Jersey?

The cost of business insurance in New Jersey depends on a wide range of factors, including a business’s industry, size, coverage needs and location. For example, a business in Jersey City can expect a different rate than a business in Toms River.

The most influential factor is the type of work that you do. Businesses are usually rated on exposures that are unique to their profession. For example, a tree removal service can expect to pay more than a landscaper because their work is more complex and requires working with heavy machinery at high elevations.

Learn more about the factors that influence business insurance rates. You can also get a quote online to find out what you’ll pay for your unique situation.

New Jersey business insurance requirements

Workers’ compensation is the only type of business insurance required by New Jersey state law. Any business that has one or more employees can get coverage through a private insurance carrier or qualify to become self-insured.

Other business insurance products, like a BOP or general liability, aren’t required by law, but you’ll likely need them before entering a contract with a prospective client or landlord. Their contracts usually specify the coverage types and limits you must carry before you begin working with them.

Resources for New Jersey small business owners:

Business Insurance Requirements (NJ Department of Labor and Workforce Development)
Workers’ Compensation Guide (NJ Department of Labor and Workforce Development)
2023 New Jersey Small Business Profile (U.S. Small Business Administration)
2021 New Jersey Workplace Injury Data (U.S. Bureau of Labor Statistics)

New Jersey professions we insure

We help small business owners from a wide variety of industries, including these common professions:

Browse more examples of professions we insure.

Why choose Progressive?

Options

We can help you secure coverage at any stage of your business’s development with the flexibility to adjust your policy as your business changes. Our agents will work with you to make sure you’re getting protection that meets both your needs and budget.
Experts

As the #1 commercial auto insurer in America^*, you can trust us with all your business insurance needs. Our team of specially trained, in-house agents can assist you every step of the way to make sure you’re getting the best coverage for your business.
Convenience

There are several ways to get a quote, whether you need a single New Jersey policy or a combination of business insurance coverages. Simply start a quote online or call us to speak with an agent.