If you run a business in New Jersey, you know that finding the right commercial insurance is just as important as getting new and return customers through your door. Commercial insurance is designed to help businesses protect themselves from different losses that are associated with risks from operating a business. Below are a few coverage products to understand the different commercial insurance options.
Machinery insurance falls under property insurance. It is also referred to as equipment break down coverage. It offers coverage when business equipment and machinery accidentally breaks down. With this type of coverage, the business will get reimbursed if the machinery, such as computers, is damaged by a fire or water.
Debris removal insurance
In the occurrence of a fire, flood, or windstorm in the office, the property could get damaged. This insurance coverage usually covers the cost of removing debris from the property. Most basic insurance coverage will cover the cost of rebuilding the premises and not the cost of removing the debris before construction can commence.
Business interruption insurance
Business interruption insurance usually covers lost income and any expenses that result from damaged property. An example is if you have to shut down the business because there was a fire; the insurance company can cover the salaries, tax, and rent that you have to pay for the period. It also reimburses you for the net profit you would have made during this period.
Workers' Compensation Insurance
This insurance covers you in case a worker is injured on the job. In some states, it is compulsory for a business owner with employees to have workers' compensation insurance. In most cases, the workers' compensation laws usually prohibit the injured employee from filing a lawsuit against the employer.
Contact Dirus Inc. for Commercial Insurance Needs
Now that you are aware of the different business insurance policies, you should consult with Dirus Inc in New Jersey and discuss what kind of insurance is right for your business. Reach out to our office for a quote and to have your questions answered.