The professional liability insurance, also known as Errors and Omissions (E&O), will cover your business if a client claims your agency is negligent or insufficient. E&O insurance in Texas policies come in a variety of types, costs, and coverage options. IIAT can help your agency find E&O coverage that is affordable and customizable. Request a quote today.
New Jersey’s small business can benefit from the protection of general liability insurance. This insurance, also known as commercial general liability (CGL), can cover the costs of common accidents such as:
New Jersey businesses can benefit from customized protection. You should have business insurance as a New Jersey owner to protect your property, employees, and everyday operations from various risks. If you choose to run your business in New Jersey, without insurance, you could end up having to deal with a costly claim.
According to the U.S. Small Business Administration, there are more than 952,000 small businesses operating in New Jersey. These companies collectively employ almost 49% of New Jersey’s workforce. These 1.9 million workers are all required to be covered by a workers compensation policy.
General liability insurance could pay legal fees and damage if a Newark supermarket is found to be liable for a customer who slips and falls on a newly mopped floor and hurts their shoulder.
General liability insurance may cover damages if a Jersey City contractor breaks a window of a client while carrying sheetrock to their home. Liability insurance in new jersey can protect you against certain expenses when accidents of this nature occur. CGL can help cover costs in the event that your business is accused or libelous, slanderous or of copyright infringement.
Professional liability insurance can be a great idea if you offer a professional service. Liability insurance for professionals can be beneficial to a number of businesses.
In NJ, Professional Liability insurance is also known as Errors & Omissions coverage. Why are there two classifications?
Errors and omissions insurance, Professional Liability Insurance, and Malpractice Insurance all offer similar coverages. However, different professionals will use different policy names.
It’s important to know who uses these policies in order to make them more clear.
Professional Liability Insurance in New Jersey protects you and your company against lawsuits that allege breach or contract, oversights, errors, substandard work, or perceived losses as judged by customers or clients.
The cost of professional liability insurance can range from a few hundred to several thousand dollars per year (General Liability Insurance New Jersey). Each small business has its own unique costs. Costs are determined by insurance companies based on a variety of factors, including: