Business Owners Insurance

New Jersey Business Owners Insurance Policy Information
 
Businesses can bundle property and liability coverage into a New Jersey Business Owners Insurance Policy that allows your business to obtain broad coverage with affordable premiums. Business Owners Insurance is usually the first step for small businesses looking to get basic property and liability coverage and is a comprehensive and affordable insurance package for small or medium sized businesses.
To qualify for Business Owners Insurance Policies, a company should have 100 or fewer employees, and annual revenues should be less than $1 million. Business Owners Insurance will typically provide reimbursement for up to a year of lost revenue resulting from an insured property loss. Some businesses may find Business Owners Insurance coverage limits to be too low or may not like the lack of flexibility on options like coinsurance. However, what the Business Owners Insurance Policy lacks in flexibility it usually makes up for with lower premiums for your business.
 
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more about the different coverages
of a Business Owners policy

Property Insurance Coverage
Liability Insurance Coverage
Interruption Insurance Coverage

Property Insurance Coverage

New Jersey Business Owners Insurance offers named perils or all risk insurance coverage, similiar to general property insurance coverages. Enhancement endorsements are available at little or no cost to extend coverage to your accounts receivable, valuable papers, signs, employee dishonesty,
mechanical breakdown, computers including software, money and securities, off premises power failure and spoilage of food products, backup of sewers and drains.

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Liability Insurance Coverage

While similiar to Commercial General Liability Insurance, the liability part of a Business Owners Insurance Policy offers less flexibility in determining your coverage limits for particular claims. Optional limits of $300,000, $500,000 or $1,000,000 are available. Personal injury, products liability, fire legal liability and premises medical payments are included. Also, Business Owners Insurance does not include professional liability insurance.



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Interruption Insurance Coverage

Business Interruption Insurance is usually included in Business Owners Insurance policies and covers lost income and expenses incurred when a company suffers disaster related damage. Ongoing operating expenses that continue even if business is suspended, such as payroll, are also covered.



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