Who needs commercial insurance in New Jersey?

The Phillipsburg, NJ area has continued to be a great place to live. Those that are here may quickly find that it is also a good place to own a business. If you are a business owner in this area of the state, you should get insurance for your company. There are several situations when you may need to get this coverage in place for your company.

Those with Business Loans or Outside Capital

When you need to get commercial insurance coverage, you will take out a loan or raise outside capital. Anyone who would like to raise outside equity or debt will have to comply with the investor or lender’s standards regarding insurance. Normally, they will have very specific insurance requirements that you need to meet at all times. If you do not maintain this coverage, you could find yourself in default and have to repay the outstanding money.

Those that Want to Protect Company

You will also want to get a commercial insurance plan when you want to protect your company. Any business that is in New Jersey would benefit greatly from this coverage. With a commercial insurance plan, you can get the coverage you need to mitigate your commercial liability risk and protection of business assets. 

Those who will start a company in the Phillipsburg, NJ area should make sure that they get proper insurance for their business. When you speak with the TAS Insurance Agency team, you can learn a lot more about your options. The insurance professionals at TAS Insurance Agency can help you assess your business risks and build a policy that will offer the right mitigation for these risks. Contact our office for a quote.