Best General Liability Insurance in New Jersey (2024)

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.

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.

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.

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.

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.

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.

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.

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

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.