We all know New Jersey sometimes gets treated like New York's kid brother. But in some cases, that's a good thing. After all, younger siblings tend to be more laid back and easygoing. And according to the findings of our Best Places to Live for Tech Entrepreneurs report, the tech community in Jersey City offers a welcoming, supportive vibe for startups. So if you like proximity to big cities but prefer something a little lower key (and more affordable) day to day, New Jersey is a great place to run your IT business.
Cost-Saving Tips for NJ Business Owners
- If you want to keep things simple and affordable, buying a BOP is a good decision. But for some IT businesses, a BOP just isn't comprehensive or flexible enough. Ask your TechInsurance representative whether you need a custom-tailored New Jersey business insurance policy.
- If your business changes over the course of the year, you may need to revise your insurance policies to reflect your current state of risk. For example, the number of employees you have on board can have a big impact on your insurance rates.
- You can realize cost savings on insurance by running a tight ship. Continually evaluating and improving your management processes helps ensure an emphasis on safety, which can mean big savings on premiums for your commercial liability insurance policy.
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Thanks to its proximity to NYC and Philly, New Jersey is considered a "bedroom community" for commuters. And thanks to Urban Enterprise Zones in the state, small businesses enjoy a lower sales tax rate, which draws customers from miles around. Both of these situations present unique risks and challenges for Jersey-based small IT businesses, many of which send employees across state lines to service customers.
NJ Business Insurance Policies That Get It Right
If you're in the IT business in New Jersey, be sure you carry the right business insurance. Whether you need professional liability coverage, general liability or workers' compensation, TechInsurance has you covered. If you're doing business in nearby states, TechInsurance's New Jersey insurance experts know all the ins and outs of complying with state regulations for insurance coverage for workers' compensation, and can get you a quote for the coverage you need to protect your business.
Get fast, affordable coverage that's just the right fit for your IT business. Complete one online application and get your free, no-obligation quote in 24 hours or less. Choose the coverage you need, and we'll start your policy immediately.
If you're looking for any of the following types of insurance, we've got you covered:
You may have heard this type of coverage called a "BOP," or Business Owner's Policy. This policy packages general liability insurance with property coverage at one affordable rate, giving you protection if a client should be accidentally injured at your location or if one of your employees causes property damage or bodily injury at a client's site.
Commonly called "errors and omissions" or "E&O" insurance, this type of coverage protects you if your client should claim that mistakes, negligence or omissions you make on the job caused the client a financial loss. For professional services companies such as IT businesses, this is one type of insurance you shouldn't work without.
Many states require companies with employees to carry workers' comp insurance, which pays for medical care and disability coverage for your employees if they should suffer a work-related illness or injury.
If you have employees, you need EPLI. This type of insurance protects you in the event that one of your employees claims an employment practice violation, such as sexual harassment; wrongful termination; or gender, race or age discrimination.
STATE INSURANCE LINKS
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