Running a business comes with numerous benefits. From sharing profits, flexibility, and bringing a sense of fulfillment, owning a business is a dream come true for many people. However, business ownership comes with many risks. As a result, you need commercial insurance to protect your business from liabilities and other threats like theft, fire, vandalism, and many more.
If you own a business in Neptune, NJ, you need to purchase business insurance from Dirus & Sons for the below reasons.
Suppose someone sustains injuries on your business premises? Or perhaps, you are accused of advertising injury? In such unfortunate occurrences, your business could be facing substantial medical and legal liabilities. Without liability coverage add-on on your commercial insurance, your business could suffer massive financial losses.
Compliance with the law
The New Jersey law requires businesses to carry the following mandatory commercial insurance coverages:
- Commercial auto insurance: It’s required for all vehicles running business operations. This coverage protects the car and the driver following an accident.
- Workers’ comp insurance: As long as you have employed someone in your business, New Jersey requires you to purchase workers’ comp insurance to pay for employees’ medical costs for work-related injuries.
Physical assets protection
Whether rented or owned, commercial property coverage protects your business structure from perils like theft, fire, windstorms, hail, lightning, and so forth. Additionally, commercial insurance covers inventory, computers, and other equipment when destroyed by a covered peril.
Which is your most valuable business asset? It must be the employees. Your business could possess properties, intangible assets, networks, and so forth, but without employees, all these would amount to nothing. That said, businesses should purchase workers’ comp insurance to cover employees in the following ways:
- Covering work-related injuries
- Compensating partial loss of income
- Paying for funeral expenses
Do you need to protect your Neptune, NJ business with commercial insurance? Contact Dirus & Sons today for a reliable quote.