When searching for the best general liability insurance for businesses in New Jersey, we considered several factors, including affordability, customer satisfaction, financial stability and the ease of the online quote process. Our analysis determined that Thimble is the best overall and cheapest provider for general liability insurance in New Jersey. On average, LLCs with 20 employees can expect to pay $66 monthly, while sole proprietors without employees pay $22 monthly.

MoneyGeek Logo IconBest General LiabilityNew Jersey
2024

Best General Liability Insurance in New Jersey

Why Trust MoneyGeek? We collected 1,229 general liability insurance quotes and analyzed cost information alongside customer satisfaction and financial stability reports to determine the best general liability insurance companies for small businesses in New Jersey.

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Coverage costs and company information for general liability insurance providers in New Jersey were last updated in 2023.

1,229Quotes Analyzed
 
6 Companies Compared
 
50 Zip Codes

Best Overall General Liability Insurance in New Jersey

Of the insurers MoneyGeek analyzed, Thimble is the best overall company for general liability insurance in New Jersey. This provider earned a MoneyGeek score of 93 out of 100.

The chart below details the rates and MoneyGeek scores of all the companies we reviewed in New Jersey, giving insight into how Thimble scored against its competitors.

How was this MoneyGeek score calculated?

ThimbleMoneyGeek Score93Monthly Cost Without Employees$22Monthly Cost With 20 Employees$66
NationwideMoneyGeek Score91Monthly Cost Without Employees$40Monthly Cost With 20 Employees$53
biBERKMoneyGeek Score89Monthly Cost Without Employees$23Monthly Cost With 20 EmployeesNo Data
The HartfordMoneyGeek Score88Monthly Cost Without Employees$35Monthly Cost With 20 Employees$102
HiscoxMoneyGeek Score86Monthly Cost Without Employees$29Monthly Cost With 20 Employees$178
NextMoneyGeek Score85Monthly Cost Without Employees$33Monthly Cost With 20 Employees$44
Best OverallScore: 93
Thimble
4/5LLC Affordability
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

Most affordable provider in New Jersey for sole proprietors

Robust financial stability

Quick turnaround for online quotes

CONS

Low customer satisfaction

Company Highlights

Thimble is the best general liability insurance company for businesses in New Jersey. It earned a MoneyGeek score of 93 out of 100, with high scores in affordability and financial stability. These metrics translate to cost-effective service and reliable payouts from this provider.

The company has the cheapest rates in New Jersey for sole proprietors at an average of $22 per month and has one of the most reasonable rates for LLCs at $66 per month. Thimble is also an excellent option for shoppers who need a quick online quote to compare insurers. The downside is that this provider has received relatively high customer complaints, meaning it may not always meet customers’ expectations.

Cheapest General Liability Insurance in New Jersey

With a MoneyGeek score of 98 out of 100, Thimble is the cheapest general liability insurance in New Jersey, with an average monthly cost of $22 for sole proprietors and $66 for LLCs.

Our affordability score in this category considers the average monthly cost for sole proprietors and LLCs, each weighted at 50%. While Thimble is the cheapest average insurer, other companies may have lower rates for sole proprietors or LLCs.

How was this MoneyGeek score calculated?

CheapestScore: 98
Thimble
4/5LLC Affordability
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

Most affordable general liability insurance for sole proprietors

Strong financial stability

Fast online quotes service

CONS

More expensive rates for LLCs

Company Highlights

Thimble is the cheapest general liability insurance in New Jersey. At an average monthly rate of $22 for sole proprietors and $66 for LLCs, it’s an exceptional choice for cost-minded small businesses.

Thimble also has a solid financial stability rating with an A+ from AM Best, meaning that customers can have confidence that the company can pay out its claims. Additionally, Thimble is one of the few companies that offer a fast online quote service, allowing customers to get quotes within seconds for easier shopping.

Best General Liability Insurance for Employers in New Jersey

Nationwide offers the best coverage for employers shopping for general liability insurance in New Jersey. It earned a MoneyGeek score of 97 out of 100. On average, premiums from this insurer cost $53 per month.

Our analysis used LLCs with 20 employees to find average rates for employers in New Jersey. Businesses with fewer than 20 employees can typically expect to pay less than the average rate, and those with more than 20 can expect to pay more.

How was this MoneyGeek score calculated?

Best for EmployersScore: 97
Nationwide
5/5LLC Affordability
5/5Customer Satisfaction
4/5Financial Stability
3/5Online Quote Process
PROS

Exceptional customer satisfaction

Financially stable

Affordable rates for LLCs

CONS

Slow online quote service

Company Highlights

Nationwide is the best general liability insurance option for employers in New Jersey. High customer satisfaction ratings show off its record of quality service. The company earned an A+ rating from AM Best, meaning it can dependably meet policyholders’ claims.

Nationwide’s main downside is that it takes longer to generate an online quote than other providers. This tradeoff is likely worth it for this company’s high-quality and affordable coverage for New Jersey employers.

Best General Liability Insurance for Sole Proprietors in New Jersey

Of the insurers we analyzed, biBERK earned the highest MoneyGeek score of 97 out of 100 to emerge as the best general liability insurance company for sole proprietors. biBERK’s policy costs $23 per month, on average.

Note that this rate is for a proprietor with no employees, and your actual rate may vary based on your industry. Workers in high-risk sectors like construction may pay more for insurance than those in low-risk industries like consulting.

How was this MoneyGeek score calculated?

Best for Sole ProprietorsScore: 97
biBERK
5/5Sole Proprietor Affordability
4/5Customer Satisfaction
5/5Financial Stability
3/5Online Quote Process
PROS

Strong financial backing

Exceptional customer service

CONS

Lagging online quote service

Company Highlights

biBERK balances affordability and quality service to emerge as the best insurer for sole proprietors in New Jersey. The company’s robust financial stability and satisfaction scores make it an attractive choice for sole proprietors looking for dependable general liability coverage.

biBERK’s policies are also competitively priced at an average of $23 per month for a single-person business. While its online quote system could use some improvement, biBERK’s exceptional customer service makes up for it.

Do You Need General Liability Insurance in New Jersey?

General liability coverage is an important form of business insurance that protects a business against negligence claims and other liabilities. New Jersey doesn’t require that companies have general liability insurance, but coverage may be necessary for some business licenses or to win certain contracts.

General liability insurance can help cover damages resulting from a customer’s injury or property damage and any legal costs associated with defending the company in court. Without this coverage, a business owner may have to pay a significant amount out of pocket to cover these costs.

New Jersey law requires that all employers not covered by federal programs have workers' compensation coverage or be approved for self-insurance. Additionally, companies that operate vehicles must purchase auto insurance with the following limits to comply with state laws:

  • $15,000 per person
  • $30,000 per accident for bodily injury
  • $5,000 for property damage

While New Jersey does not require businesses to have general liability insurance, it’s wise to acquire coverage to protect your company’s future.

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SMALL BUSINESS RESOURCES IN NEW JERSEY

New Jersey supports small businesses through the New Jersey Business Action Center (NJBAC). This organization provides updates on licensing and permitting laws, mentoring, technical training, regulatory assistance, emergency preparedness guidance and access to recovery programs and services — all free of charge.

How Much Is General Liability Insurance in New Jersey?

The average cost of general liability insurance in New Jersey for sole proprietors is $30 per month and $89 per month for LLCs. For these rates, MoneyGeek used a sample policy that included a $2 million aggregate limit, a $1 million occurrence limit and a $0 deductible.

The aggregate limit is the maximum amount an insurer will pay out for all claims related to the policy in a single period, and the occurrence limit is the maximum amount an insurer will pay out for a single claim related to the policy. The deductible is the amount the business owner will pay out of pocket before the insurer pays any claims.

Factors That Impact General Liability Insurance Costs in New Jersey

Insurance companies consider several factors when determining your general liability insurance rates. We clarify these below.

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    Policy limits

    Higher liability coverage limits pose more risk to the insurer, resulting in higher premiums. Lower coverage limits typically result in lower premiums.

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    Number of employees and payroll costs

    A business with many employees and higher payroll costs generally pays a higher premium than a business with fewer employees. For example, an LLC in New Jersey typically pays around $89 per month for general liability insurance, while a sole proprietorship pays around $30 monthly.

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    Business location

    The location of your business plays a huge role in the cost of your general liability insurance. Areas with higher crime rates and more claims activity typically cost more to insure than safer, more rural areas. The statewide averages we found may vary at the city level due to these differences.

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    Claims history

    Insurance companies use a business's claims history to assess the risk of insuring the business. Insurers typically consider companies with frequent claims as riskier to insure, resulting in higher premiums.

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    Industry

    The cost of general liability insurance in New Jersey can vary significantly depending on the industry. For instance, businesses in high-risk industries like construction typically pay higher premiums than businesses in low-risk industries like software development. The table below shows the average cost of general liability insurance for cleaning businesses, software development companies and general contractors in New Jersey.

CleaningMonthly Cost Without Employees$121Monthly Cost With 20 Employees$3,528
Software DevelopmentMonthly Cost Without Employees$30Monthly Cost With 20 Employees$89
General ContractorMonthly Cost Without Employees$221Monthly Cost With 20 Employees$4,569

Frequently Asked Questions About General Liability Insurance in New Jersey

When shopping for the best general liability insurance in New Jersey, the best insurer for you depends on your type of business, location and other factors. MoneyGeek answered the most frequently asked questions about general liability insurance for you.

Which company has the best general liability insurance in New Jersey?
Which company has the cheapest general liability insurance in New Jersey?
What does general liability insurance cover in New Jersey?
Does New Jersey require businesses to have general liability insurance?

About Melissa Wylie


Melissa Wylie headshot

Melissa Wylie is a Content and SEO Manager at MoneyGeek. Melissa has worked in the financial content space since 2018 and has spent much of that time focused on all things small business.

Prior to joining MoneyGeek, Melissa held SEO positions at Bankrate and LendingTree. Melissa’s work has also appeared on LendingTree-owned websites ValuePenguin and MagnifyMoney.

Melissa began her career at American City Business Journals in 2015 as a reporter for the company’s women-focused publication Bizwomen. Melissa has a Bachelor of Arts in Journalism from the University of North Texas. Melissa relies on her foundation in journalism to craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.

Melissa's other work can be read on LendingTree and Bizwomen.


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