Policies

Business Owners Policy

This program is ideal for small to medium-sized enterprises. It consolidates multiple forms of insurance into a single policy, streamlining the process for business owners who would otherwise have to choose specific types and limits for various secondary coverage options.

However, it's essential to consult with an insurance professional about coverage for your building, contents, crime, and general liability. Additionally, you have the option to enhance your policy with extra protections at a low additional cost.

Here are some examples of additional coverages available:

• Business Interruption
• Computers
• Employee Dishonesty
• Robbery of Money
• Non-Owned and Hired Liability
• Cyber Liability
• Employment Practices Liability

Dial 800-215-9733 to collaborate with us in tailoring a policy that meets your business's unique needs.

Commercial Auto Insurance

Commercial auto insurance is designed to cover your business's cars, trucks, vans, or entire fleet. This policy safeguards against injuries or property damage caused by you or your employees to others. It's crucial to list all employees who might drive your vehicles.

Key Aspects of Commercial Auto Insurance:

• Liability Insurance: This coverage is for bodily injuries or property damage caused by you in an accident. It covers medical expenses, lost wages for others, and your legal fees in case of a lawsuit.
• Uninsured Motorist Coverage: If an uninsured or, in some places, a hit-and-run driver injures you or damages your property, this coverage steps in.
• Underinsured Motorist Coverage: Offers protection when the at-fault driver's insurance isn't sufficient to cover your expenses.
• Collision Insurance: Covers damage to your vehicle from accidents involving other vehicles or rollovers, irrespective of fault. Necessary if your vehicle is financed or leased.
• Comprehensive Insurance: Provides coverage for non-accident damage to your vehicle, such as theft, flood, vandalism, earthquakes, fire, or animal-related damage.

The liability coverage limit is crucial; since 98% of liability claims are made for amounts up to $1,000,000, opting for a lower coverage amount is not advisable. For more information, questions, or a free premium quote, contact Insurance State Brokers.

To get in touch, call 800-215-9733 or send us an email.

Workers' Compensation Insurance

Workers' compensation insurance is essential when an employee gets injured on the job, covering their medical expenses and compensating for lost wages to facilitate their return to work as swiftly as possible.

Regardless of your business type, ensuring employee safety at the workplace is a legal requirement. A workers' compensation policy not only meets this obligation but also supports the families of employees who die from work-related injuries or illnesses by providing benefits.

Coverage limits are crucial; the standard minimum is $100,000/$500,000/$100,000. For a modest premium increase, options to elevate coverage to $500,000/$500,000/$500,000 or $1,000,000/$1,000,000/$1,000,000 are available, with the highest limits recommended for optimal protection.

Workers' compensation policies are subject to audit by insurers, based on the "estimated payroll" you declare at policy initiation. Post-policy expiration, an audit determines the "actual payroll," leading to either a refund for overestimation or additional charges for underestimation.

Tips to Lower Your Premium:

• Qualify for Upfront Credits
• Utilize Managed Care Credits
• Earn Backend Dividends
• Review Your Experience Modification Factor
• Exit the Assigned Risk Pool

For detailed information or a free premium quote, contact Insurance State Brokers. We're ready to assist with your inquiries.

Call 800-215-9733 or send an email.

Commercial Umbrella Liability Insurance

Umbrella insurance is a type of liability coverage that extends beyond the limits of the insured's other policies, offering additional protection. It can also serve as primary insurance for claims not covered by other policies.

In instances where the insured is found liable, primary insurance policies will first cover up to their limits. Any excess amount is then covered by the umbrella policy, up to its maximum limit.

Obtaining an umbrella policy provides crucial defense against significant legal claims that could severely impact your business. However, before securing a policy, consider the following:

• Limits: It's important to assess the amount of coverage necessary for your needs.
• Deductibles or Retained Limit: Policies may vary, with some having no retained limit, while others might set it at $5,000, $10,000, or even $25,000.
• Policy Period: Ensure the policy aligns with the dates of your basic policies, as umbrella coverage typically applies only to incidents occurring within the policy term.

For further details, assistance with queries, or to receive a complimentary premium quote, please contact State Insurance Brokers.

Reach out at 800-215-9733 or via email.

Commercial Umbrella Liability Insurance

Umbrella insurance is a type of liability coverage that extends beyond the limits of the insured's other policies, offering additional protection. It can also serve as primary insurance for claims not covered by other policies.

In instances where the insured is found liable, primary insurance policies will first cover up to their limits. Any excess amount is then covered by the umbrella policy, up to its maximum limit.

Obtaining an umbrella policy provides crucial defense against significant legal claims that could severely impact your business. However, before securing a policy, consider the following:

Key Aspects of Commercial Auto Insurance:

• Limits: It's important to assess the amount of coverage necessary for your needs
• Deductibles or Retained Limit: Policies may vary, with some having no retained limit, while others might set it at $5,000, $10,000, or even $25,000.
• Policy Period: Ensure the policy aligns with the dates of your basic policies, as umbrella coverage typically applies only to incidents occurring within the policy term.

The liability coverage limit is crucial; since 98% of liability claims are made for amounts up to $1,000,000, opting for a lower coverage amount is not advisable. For more information, questions, or a free premium quote, contact Insurance State Brokers.

For further details, assistance with queries, or to receive a complimentary premium quote, please contact State Insurance Brokers.

Reach out at 800-215-9733 or via email.

General Liability Insurance

Securing Your Business with Comprehensive Liability Protection

In today's litigious environment, even minor incidents can escalate into costly legal disputes. Recognizing the importance of robust protection, we offer a range of liability insurance options tailored to meet the specific needs of each client.

General liability insurance, along with property and workers' compensation insurance, is essential for most businesses. It provides protection against claims of personal injury or property damage for which your business might be held responsible, whether due to alleged actions or omissions.

In New Jersey, general liability insurance is crucial for defending your business against claims resulting from accidents, injuries, or property damage caused by your operations. Coverage extends beyond the policy limits, including attorney fees, court costs, and other legal expenses related to claims or the defense against lawsuits.

At Insurance State Brokers, our expertise guides us in selecting the right level of protection for your business. Our understanding of the insurance landscape ensures our clients are adequately covered, protecting their future against significant claims. Notably, New Jersey's litigious nature, with a higher ratio of attorneys to residents compared to states like California, underscores the need for comprehensive coverage.

General liability insurance is indispensable for safeguarding you, your family, and your business. Coverage starts at $100,000 and can be increased to $500,000 or $1,000,000 with minimal cost adjustments. It's important to note that in New Jersey, 98% of liability claims are filed for $1,000,000.

For more details or to discuss your insurance needs, contact Insurance State Brokers We're ready to answer your questions and offer a free premium quote.

Call 800-215-9733 or send us an email.

Data Breach And Cyber Liability Insurance

Understanding Data Breach and Cyber Liability Insurance

Data breach and cyber liability insurance are designed to offset the costs associated with a data security breach, including identity protection solutions, public relations efforts, legal expenses, and liability, among others, tailored to the coverage selected. Implementing data breach coverage is crucial for rapid response, essential in maintaining public trust after a cyber incident.

This insurance offers protection and professional support to navigate the complexities of legal and regulatory compliance following a data compromise. It is a critical layer of security in managing the repercussions of data theft or loss.

The Importance of Cyber Liability Insurance for Small Businesses

Rapid response mechanisms to data breaches are vital for safeguarding affected individuals and preserving the business's reputation. Our policies support the immediate expenses related to breach responses, such as notification costs and proactive public relations campaigns. Additionally, in many jurisdictions, cyber liability coverage extends to legal defense and liabilities arising from litigation due to a breach.

Responding Promptly to Data Breaches

Immediate action is necessary to mitigate the adverse effects of a data breach on stakeholders and the business itself. Companies face reputational damage and must comply with legal and regulatory mandates swiftly to avoid significant fines and legal challenges. Our coverage provides access to seasoned breach response experts, aiding businesses in fulfilling their legal duties and communicating effectively with affected parties.

It's essential to regularly back up and securely store data. For more details or a complimentary premium quote, reach out to Insurance State Brokers, Inc. We're here to address your inquiries and assist with your insurance needs.

Contact us at 800-215-9733 or via email.

Professional Liability / Errors & Omissions Insurance

Understanding Professional Liability/Errors and Omissions Insurance

Mistakes happen, even to the best in any business. If a client believes that an error on your part has financially harmed them, they might take legal action. Professional liability insurance, also known as errors and omissions (E&O) insurance, is designed to protect you and your business in cases where you're accused of negligence or failure in delivering your professional services.

This type of insurance is crucial for safeguarding against claims alleging that your professional advice or services resulted in financial loss for a client due to errors or omissions by your business. For instance, if you're an accountant who commits a significant bookkeeping error, or a photographer who loses a client's wedding photos, you could face expensive legal battles. Professional liability insurance assists in covering legal costs and any damages awarded.

When choosing a professional liability insurance plan, it's important to note that many policies operate on a "claims-made" basis and include a retroactive date. Claims filed for incidents occurring before this retroactive date are not covered. Therefore, when selecting a policy, the retroactive coverage date is a critical consideration—the more extensive the coverage period, the better.

Who Needs Professional Liability Insurance?

Anyone providing services directly to clients should consider professional liability insurance. It's not just for when you make a mistake; it's also for when clients perceive they've received subpar service or advice, regardless of your actual fault. This insurance covers various claims, including negligence, misrepresentation, violation of good faith, and giving incorrect advice. Some policies may also protect against privacy breaches.

Professional liability insurance is an essential safeguard, offering protection against the extensive costs and effort involved in legal defense following a lawsuit from a client.

For more information or to discuss your insurance needs, please contact us.

Call 800-215-9733 or send an email.

Employment Practices Liability Insurance (EPLI)

Employment Practices Liability Insurance (EPLI) provides coverage for legal issues stemming from the employment process. Common claims under this insurance include sexual harassment, wrongful termination, and discrimination, among others. Additionally, EPLI extends to various forms of misconduct such as defamation, privacy invasion, failure to promote, and negligent evaluation related to employment.

The pricing of EPLI policies varies based on your business's nature, the number of employees, and certain risk indicators, including any previous lawsuits against your company. This insurance is designed to offset the expenses associated with defending a lawsuit in court, including judgments and settlements, covering legal fees regardless of the lawsuit's outcome. However, it's important to note that EPLI does not cover punitive damages.

In New Jersey, the defense costs for a sexual harassment case average around $110,000, and for wrongful termination, about $95,000.

For more information or inquiries, please get in touch.

Call 800-215-9733 or send us an email.