New Jersey Business Property Casualty Insurance Coverage

New Jersey Business Property Casualty Insurance Coverage | Bogle Agency Insurance

New Jersey Business Property Casualty Insurance Coverage | Bogle Agency Insurance

Understanding the types of Insurance a business needs in New Jersey is important for owners of, as well for entrepreneurs just getting into, business. Like any, Business Property Casualty Insurance Coverage is for the unexpected. Getting started with the right business Insurance coverage avoids surprises and financial crisis. A business with coverage for the unforeseen can be the difference between success and failure, but what is necessary isn’t always obvious.

Best to consult with a NJ Insurance agent on the various Business Property Casualty Insurance Coverage types in order to be sure the business is protected from day one!

What Types of Business Insurance Will the Business Need?

  • Worker’s Compensation Insurance – protects employees under state laws, provides medical care, death, disability and rehabilitation benefits for workers injured or even killed on the job
  • Errors and Omissions Insurance – liability insurance that protects companies and their workers against claims of inadequate or negligent professional work
  • Property Insurance – insures against damage to buildings, its contents and/ or a loss of income due to loss, such as fire
  • Vehicle Insurance – covers physical damage to, as well as liability coverage related to the use of, company cars to commercial trucks
  • Business Interruption Insurance – compensates for income lost during a period of restoration to repair or restore physical damage to defined property
  • Umbrella Insurance – catastrophe coverage meant to pick up where business auto liability, general liability or other liability coverage are exhausted

These are obvious types of Business Property Casualty Insurance coverage the business may need. Other options exist, for example, if the business manufactures a particular product there may be a need for Product Liability Insurance. Likewise, if it is a home-based business extra coverage on a homeowner’s policy may be necessary. The important thing is to be covered by the right New Jersey Business Property Casualty Insurance package.

One incident can wipe out a small business when coverage is not there. Because of this, taking the time to evaluate the needs of the business can save it down the road. As a reputable Bergen County Property Casualty Insurance Agency we will provide the knowledge to get the proper coverage in place.

Lyndhurst NJ Business Insurance Agent!

Contact the team at Bogle Agency Insurance today and learn more about local NJ Business Insurance options. We welcome the opportunity to customize a package based upon unique needs of the business. Let our knowledge and experience serve as guide, Bogle Agency Insurance will inform you about Business Insurance in Bergen County NJ an beyond!

New Jersey Business Liability Insurance: What’s Covered? What’s Not?

What Is (And Isn’t) Protected Under Business Liability Insurance?

NJ Business Liability Insurance

Business Liability Insurance covers the basic risks associated with conducting business. Liability coverage refers to general items and not specific to unique business activities. Every business needs coverage but it is equally necessary to understand what coverage each plan offers and whether it is enough for your specific industry. Your Lyndhurst NJ insurance agent will be invaluable in determining the individual needs of your business. Not having the right kind of coverage, or lack of coverage may leave your business vulnerable to lawsuits and potential bankruptcy.

What Is Covered By A General Business Insurance Policy?

A general business insurance policy covers your business, your employees and yourself from lawsuits involving the business. Whether your business is being sued for an injury sustained in your place of business, caused by an employee or as a result of your product or service, Business Liability Insurance will cover it. Business Liability Insurance can also cover things like copyright infringement.

Business liability insurance helps to mitigate the risk of losing money, or your business, due to legal action, whether that be from personal injury, property damage or intellectual damages. However, as with all other policy types, Business Liability Insurance has caps that may not cover the entire amount due. This is why it is important to have a risk assessment performed prior to choosing an insurance policy.

What Is Not Covered By Your Business Liability Insurance Policy?

A common misconception is that General Business Liability Insurance covers employees injured on the job… it doesn’t. New Jersey law requires business owners to have Workers Compensation coverage. Additionally, professional errors such as negligence, malpractice or misrepresentation will not be covered by a general Business Liability Insurance policy. Lastly, events such as car accidents, intentional acts and product failures that would be typically covered by a warranty are not covered by general business liability insurance. As a result, you may want additional coverage for any of the items not covered by your policy.

In addition to circumstance-specific policies like Workers Compensation and Car Insurance, it is important to evaluate the potential costs of damages following an accident. Business Umbrella Insurance is a policy that helps to pay any leftover amount in a lawsuit that is not covered by Business Liability, Workers Comp or Commercial Auto Insurance. This extra coverage helps to prevent major loses and even bankruptcy in the event of a large, substantial insurance claim.

Additional Insurance Coverage For Your Business May Include:

Business owners should have a solid understanding of what is included and not included with insurance policies. An experienced NJ insurance agent is instrumental in ensuring that you have the information and the coverage your business needs to be protected.  Furthermore, take the time to evaluate your insurance annually.  Your business changes over time, ensure your coverage is keeping up with these changes.

Schedule A Meeting With Your NJ Insurance Agent Today

Contact our team at Bogle Agency Insurance today and make an appointment to evaluate your New Jersey business insurance needs. We welcome the opportunity to look at your current policies and determine whether there are any holes. Let our knowledge and experience serve as your guide to New Jersey business insurance, helping you understand what is protected under business liability insurance as well as what isn’t.

Workers Compensation insurance NJ

Cyber Insurance for Businesses

Cyber Insurance Becoming Increasingly Important for Businesses to Have

Cyber insurance NJ
Bogle Agency Insurance, serving insurance needs for business and individuals

Cyber insurance is becoming an important resource for businesses to have. Cyber threats and attacks are becoming more and more commonplace.  Because of this, insurance needs have grown and changed.  However, not every business has adequate defense against such action. As a result, cyber insurance coverage should be considered a critical NJ business insurance policy to have.

New Jersey Cyber Insurance proves to be even more important for small businesses. While many large companies have a dedicated tech team, often smaller businesses do not. Many small businesses don’t have the budget or think cybersecurity is an unnecessary extra. As a result, small businesses can be more vulnerable, and hackers know this!

Small businesses are a target for cyber attacks

Small businesses are a target for cybercriminals because of their vulnerability. Likewise, many small businesses do not have the resources needed to recover from cybersecurity attacks. Luckily, the proper insurance coverage alleviates this stress. Sit down with an experienced NJ insurance agent from Bogle Agency Insurance today to discuss whether your business insurance covers cyber breaches.

What can you expect from a New Jersey business insurance policy? Insurance is designed to protect your presence on the internet. Policies differ to meet varying needs. Some companies need to be protected against hackers while others need to protect their intellectual content. A cyber insurance policy can offer security and peace of mind when it comes to small business vulnerability. Best of all, cyber insurance can cover business interruption if something ever happens.

Learn more about cyber insurance for your business

Cyber crimes offer a real threat to your business and knowing protection is in place offers peace of mind. Contact our team at Bogle Agency Insurance today and learn more about cyber insurance options from experienced Lyndhurst NJ insurance agents. Our goal is to inform you and help you.  Let us design a coverage package that meets your individual needs. Cyber insurance is becoming more important for businesses to have and we want to make sure your business is protected.

Click here to read “Does your business need cyber liability insurance?” from Biz Journals.

Nj commercial umbrella insurance

NJ Commercial Umbrella Insurance | Bogle Agency Insurance

Commercial Umbrella Insurance Provides Extra Layer of Protection For Businesses

Nj commercial umbrella insurance
Bogle Agency Insurance, coverage for your home and business

Commercial umbrella insurance provides an extra layer of protection for business owners. Owning and operating a business involves a certain amount of risks, some industries have more risks than others. Having this extra protection is instrumental to protecting your business and your own personal finances. A New Jersey commercial umbrella insurance policy makes sure that your business is covered where your standard commercial policy may run out.

Businesses face risks every day. From the more obvious, like slips & falls to the not so expected false advertising lawsuit. Your business most likely holds commercial vehicle coverage, Commercial property insurance, worker’s compensation insurance, and general liability insurance among its policies. However, these policies typically have a limited payout amount. That is where Commercial Umbrella Insurance comes in. In the event of a large lawsuit, Your Bergen County commercial umbrella policy will protect you and your business.

How Does Commercial Umbrella Insurance Work?

All businesses are required to have some sort of insurance. This insurance covers everyday risks of doing business. In the event of a lawsuit, the business may be forced to pay out damages to whoever, or whatever is damaged. Let’s say you have been sued for false advertising and required to pay back $1.5 Million to your customers. Your general business liability insurance will cover $1 Million as per your policy, but the remaining $500,000 is left for you to pay out of pocket. In order to protect yourself, and your business, Commercial Umbrella Insurance will step in and cover the remaining $500,000. This leaves you free to continue conducting business without worrying about being stuck in a bad financial state.

Learn More About NJ Commercial Umbrella Insurance

Contact our team at Bogle Agency Insurance today to learn more about New Jersey commercial umbrella insurance policies. Our experienced agents look forward to evaluating your business insurance needs to ensure that you have the coverage you require. Let our knowledge and experience serve as your guide to commercial umbrella insurance in Lyndhurst NJ.

Lyndhurst NJ Umbrella Insurance

Home-Based Business Insurance: Do You Have the Coverage You Need?

Insurance for Home Business: What Insurance Should Home-Based Businesses Have?

Home-Based Business Insurance: Do You Have the Coverage You Need?
Bogle Agency Insurance, your NJ insurance experts

Curious about home-based business insurance? More importantly, do you have the coverage you need for your home-based business? This is an important question to ask yourself if you are operating a business from your Bergen County home. Starting a business from home is exactly where many businesses begin these days. Unfortunately, insurance is often overlooked. Furthermore, some home-based business owners assume to be covered by their NJ homeowners insurance policy. Unfortunately, a homeowners policy does not always offer the necessary coverage.

Does Your Home-Based Business Need Insurance?

Not every home-based business has the same insurance needs. While some of these needs may be met by the simple addition of a rider to the homeowner’s insurance policy other options may be needed. Other options include an in-home business insurance policy or simply a commercial insurance policy. The important thing to remember is that business insurance protects you from claims that could destroy your business. A claim could be as as simple as a delivery person injuring himself when delivering a package to your business.

A company does not have to be large to warrant insurance. It is the particulars that will change additional provision to the policy that is best for you. Insurance needs vary from one business to the next and determining how much coverage is required depends on your comfort level. This decision is best decided upon with a highly qualified Lyndhurst NJ insurance agent.

Types of Home-based Business Insurance Coverage Vary

Types of commercial insurance coverage include coverage for equipment breakdown, the interruption of business, data loss, and data breach. If you have employees you may need Employment Practices Liability Insurance (EPLI). The list is long when it comes to NJ commercial insurance coverage.

Home-based businesses vary and so do their insurance needs. If you have a home-based business and are curious about the coverage you need, you should sit down with a reputable insurance agent. Bogle Agency Insurance is a premier insurance provider in Bergen County NJ.

Contact Bogle Agency Insurance today

Contact our team at Bogle Agency Insurance to learn more about Bergen County business and commercial insurance policies. It is important to protect your business. It is this protection that can help your business grow and thrive well into the future. Let our team help answer all of your questions, including: do you have the coverage you need for your home based business?

Businesses Must Have Workers’ Compensation Insurance In NJ

Workers’ Compensation Insurance NJ

Workers’ Compensation Insurance NJ | Bogle Agency Insurance | NJThere are very few businesses in the United States that are immune to the need to carry workers’ compensation insurance. Most states require employers to purchase an insurance plan that covers workers who are injured or made ill due to exposure in the workplace. In New Jersey this is mandated. It’s not a bad thing considering the costs of meeting these obligations, should a situation arise with an employee. These are hard financial obligations to carry for businesses small or large. The mandate, plus the obvious need for this coverage is why you need to carry workers’ compensation insurance in NJ.


What Does Workers’ Compensation Cover In NJ?

Workers’ compensation insurance provides specific and comprehensive benefits to workers who suffer injury or illness in the workplace. Benefits typically include:

  • Medical Benefits
  • Death Benefits
  • Lost Wages
  • Vocational Rehabilitation

As an employer, if you fail to carry worker’s compensation insurance, you are left exposed to the liability of paying all these benefits out of your pocket. You are also open to being sued, something that workers’ compensation protects you from.

When You Need To Buy Workers’ Compensation Insurance In NJ?

In most cases, you will need to purchase a workers’ compensation insurance policy in NJ as soon as you have one employee who is not a partner or business owner.

What Does Workers’ Compensation Insurance Cost In NJ?

Cost of workers’ compensation insurance in NJ is generally calculated by risk. Your industry determines your risk classification. Frequency of possible injuries and severity of possible injuries are the two main factors considered.  The salary of the employee is also another determining factor of the costs per employee. However, it is not set in stone You can increase or decrease your premiums based on factors such as safety history and offering health insurance. There are also optional add ons to policies that will affect the costs.

Get Covered

Contact Bogle Agency Insurance to discuss your need for workers’ compensation insurance and your other business insurance needs. Also see our article on NJ Business Liability Insurance.