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New Jersey has a competitive business environment with over 953,000 small businesses that comprise 99.6% of all businesses in the state. It also lies within one of America’s prime regions, between New York City and Philadelphia, providing a large consumer market to exploit. However, businesses in the region have to deal with some significant challenges in the form of stringent operational costs, convoluted taxation systems, cyber-attacks, unpredictable weather and legal risks.
This is why business insurance becomes an important consideration. Businesses can avoid unexpected financial losses and set their focus on improving their finances. Insurance can be the pathway to success, being the difference between success and failure in the economically competitive state of New Jersey. This feature takes a look at some eight firms that are frontrunners in assisting local businesses with their reliable solutions and services.
Hiscox
With Hiscox, small businesses receive specialized coverage from an industry leader. They have a wide array of products, such as general liability, cyber insurance, and professional liability insurance, serving various industries, including construction, health and wellness, consulting, and technology.
Hiscox differs from other competitors because of their dedication to small businesses, providing them with a specific policy that keeps them prepared for all the uncertainties. Moreover, its easy online quoting system allows users to receive quotes and coverage instantly.
InsuranceBee
InsuranceBee has become a well-known name among businesses in New Jersey, as they provide affordable and hassle-free small business liability insurance coverage. They offer a wide range of products like general and professional liabilities, business owner’s policies (BOP), cyber liability, and even workers’ compensation.
The industries that the firm covers feature artisan contractors, caregivers, cleaning services, consultants, landscaping, and even mobile food vending as well as real estate. InsuranceBee offers reliable service with expert advice and instant coverage through the website.
Thimble
It’s no surprise that Thimble stands out as a reliable insurance provider in New Jersey with their solutions being available at the click of a button.
Their offerings include a wide array of products general liability, professional liability, business equipment protection, business owner’s policies, and even general contracting policies for photographers, landscapers, event planners, and more.
What is truly remarkable about Thimble is their unique policies, quotes and certificates of insurance are offered by the hour, day, or month without businesses having to make long-term commitments.
Tivly
Tivly is the go-to option for business insurance in New Jersey because of its network of over 200 providers like Progressive and Hartford.
This market provides general liability, workers’ compensation, and other industry-specific coverage plans to numerous industries, including construction, retail, consulting, and beauty. What makes Tivly unique is that they pair clients with well-established firms that provide solutions based on the client’s needs.
This guarantees comprehensive coverage along with ease of mind for the client.
NEXT Insurance
NEXT Insurance has gained popularity amongst small businesses in New Jersey for offering insurance solutions at reasonable prices. They offer a variety of services from general liability, office professional liability, commercial property insurance, and workers’ compensation insurance to business owner’s policies.
The firm covers more than 1300 businesses such as retail, beauty, construction, and consultancy. NEXT Insurance has an online system that enables clients to obtain estimates, buy coverage plans, and acquire insurance certificates in just under 10 minutes.
The Hartford
The Hartford specializes in business insurance and provides several types of products to a multitude of sectors, including contracting, retail, and professional services. These include general liability insurances, professional ones, commercial property ownership policies, and self-contractor liability covers.
In addition to offering a broad range of business services, The Hartford stands out for more than just its 200 years of experience. The company has earned the trust of its clients with its dedication to providing top-tier tailored coverage and outstanding customer service.
Simply Business
Simply Business connects New Jersey firms with suitable insurance packages. They offer general liability, professional liability, workers’ compensation and business owner’s policies to cleaning, e-commerce, health and beauty, and construction companies.
The firm, whose parent organization is The Travelers Companies, provides coverage recommendations and quotes from over ten top-rated insurers within ten minutes, streamlining the insurance acquisition process with their fast-paced services.
Progressive
Progressive is a key player in New Jersey’s business landscape. Their tailored products, such as general liability, commercial auto, workers’ compensation, and business owner’s policies, help clients avoid financial setbacks.
They focus on providing reliable services to construction, landscaping, retail, and catering companies. Progressive’s business insurance clients benefit from 24/7 services, flexible billing plans, and an online platform that makes it easy for businesses to obtain quoted policies and make changes.
Brief Overview of Leading Insurance Firms In New Jersey
The table below describes how New Jersey’s leading eight insurance companies differ by product and unique selling features.
| Insurance Firm | Products Offered | Unique Selling Points |
| Hiscox | General Liability, Cyber Insurance, Professional Liability | Specialized small business coverage, Instant online quotes and coverage |
| InsuranceBee | General and Professional Liability, Business Owner’s Policies (BOP), Cyber Liability, Workers’ Compensation | Affordable and hassle-free coverage, Expert advice, online support |
| Thimble | General Liability, Professional Liability, Business Equipment Protection, Business Owner’s Policies | Flexible policies by hour, day, or month, No long-term commitments |
| Tivly | General Liability, Workers’ Compensation, Industry-Specific Coverage | Large provider network (200+ insurers), Personalized policy matching |
| NEXT Insurance | General Liability, Professional Liability, Commercial Property, Workers’ Compensation, Business Owner’s Policies | Fast online process (coverage in 10 minutes), Serves 1300+ business types |
| The Hartford | General Liability, Professional Liability, Commercial Property, Contractor Liability | 200+ years of industry experience, Trusted and tailored coverage |
| Simply Business | General Liability, Professional Liability, Workers’ Compensation, Business Owner’s Policies | Fast coverage recommendations, Quotes from top-rated insurers within 10 minutes |
| Progressive | General Liability, Commercial Auto, Workers’ Compensation, Business Owner’s Policies | 24/7 policy service, Flexible billing, Easy online quote and policy management |
Top Cities in New Jersey for Business Insurance
The following cities in New Jersey provide the required infrastructure support and economic environments suitable to find business insurance solutions
- Atlantic City
- Edison
- Elizabeth
- Jersey City
- Newark
- New Brunswick
- Paterson
- Princeton
- South Orange
- Toms River
New Jersey Government Resources for Business Insurance
You can get additional information about business insurance requirements in New Jersey through these government resources.
- New Jersey Department of Banking and Insurance (NJDOBI)
- Division of Workers’ Compensation
- Insurance Council of New Jersey (ICNJ)
- New Jersey Legislature
- New Jersey Office of the Insurance Fraud Prosecutor
- New Jersey Division of Insurance
Conclusion
Businesses in New Jersey can shield themselves from financial implications caused by unforeseen incidents by investing in commercial insurance policies. The top providers of insurance can be a golden ticket to improving finances.
Thinking about moving your business outside New Jersey? Browse through our listings of trusted commercial coverage providers in Arizona and reliable business insurance service providers in Maine. Trying to find investment prospects inside New Jersey? Get in touch with these leading firms who will help with fund management. Visit Sophisticated Investors for informed insights that will help your company grow.
Brandi is a financial writer and entrepreneur with decades of expertise covering U.S. business and financial topics. Her work has been featured on Consumer Affairs, ASBN Small Business Network, Koho and many other top financial publications.
