NEXT ranks as New Jersey's best small business insurance provider with a 4.62 MoneyGeek score, ranking first for customer service and second for coverage, followed by The Hartford and Simply Business. The Hartford fits cost-focused New Jersey small businesses with rates from $95 monthly, NEXT serves contractors needing fast COI delivery and Simply Business works for professional services requiring specialized liability coverage.
Best Small Business Insurance in New Jersey
Get quotes from the best business insurance providers in New Jersey including The Hartford, NEXT and Simply Business with rates starting at $7/mo.
Get matched to the best New Jersey commercial insurer for you below.
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Updated: January 6, 2026
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Business Insurance in New Jersey: Key Takeaways
NEXT ranks first for New Jersey's best small business insurance with top customer service scores and competitive rates.
The Hartford, Thimble and Simply Business offer New Jersey's cheapest small business insurance from $95 monthly.
Compare quotes from multiple providers and review small business insurance coverage that matches your risk profile.
Best Small Business Insurance Companies in New Jersey
| NEXT Insurance | 4.62 | $113 | 1 | 2 |
| The Hartford | 4.61 | $95 | 2 | 3 |
| Simply Business | 4.48 | $110 | 5 | 1 |
| Nationwide | 4.46 | $115 | 2 | 4 |
| Coverdash | 4.40 | $115 | 6 | 2 |
| biBERK | 4.38 | $118 | 2 | 5 |
| Thimble | 4.31 | $106 | 8 | 5 |
| Progressive Commercial | 4.31 | $113 | 7 | 5 |
| Hiscox | 4.27 | $122 | 4 | 6 |
| Chubb | 4.26 | $133 | 3 | 4 |
Note: These rates reflect MoneyGeek's analysis of small businesses with two employees across 79 major industries. Your actual rates vary based on your industry risk factors, claims history, coverage limits and individual insurer underwriting criteria. Contact insurers directly for personalized quotes.
FIND THE BEST BUSINESS INSURANCE IN NEW JERSEY BY COVERAGE TYPE
Find the best or cheapest insurer in New Jersey for your coverage needs in our resources below:
NEXT
Best New Jersey Business Insurance
MoneyGeek Rating
4.6/ 5
4.4/5Affordability
4.7/5Customer Experience
4.8/5Coverage Options
Average Monthly Cost of General Liability Insurance
$117This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
$78This rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Survey: Digital Experience
4.8/5 (1st)Our Survey: Likely to Be Recommended to Others
4.8/5 (1st)
The Hartford
Cheapest New Jersey Business Insurance
MoneyGeek Rating
4.6/ 5
4.6/5Affordability
4.6/5Customer Experience
4.7/5Coverage Options
Average Monthly Cost of General Liability Insurance
$93This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
$78This rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Survey: Claims Process
4.5/5 (1st)Our Survey: Agent Service
4.7/5 (1st)
Simply Business
Best Commercial Coverage Options in New Jersey
MoneyGeek Rating
4.5/ 5
4.4/5Affordability
4.2/5Customer Experience
4.9/5Coverage Options
Average Monthly Cost of General Liability Insurance
$108This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
$80This rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Research: Digital Experience
4.5/5Our Survey: Service Quality
4.0/5
Get Matched to the Best Small Business Insurance Providers in New Jersey
Select your industry and state to get a customized quote for your New Jersey business.
Industry
State
Cheapest Small Business Insurance Providers in New Jersey
The Hartford offers the most affordable small business insurance in New Jersey at $95 monthly, saving you about $18 monthly compared to the state average and easing New Jersey's high operating costs. Thimble at $106 and Simply Business at $110 monthly provide budget-friendly alternatives to compare while meeting lease and contract requirements without stretching margins.
| The Hartford | $95 | $1,137 |
| Thimble | $106 | $1,270 |
| Simply Business | $110 | $1,320 |
| NEXT Insurance | $113 | $1,356 |
| Progressive Commercial | $113 | $1,358 |
| Coverdash | $115 | $1,374 |
| Nationwide | $115 | $1,380 |
| biBERK | $118 | $1,421 |
| Hiscox | $122 | $1,464 |
| Chubb | $133 | $1,601 |
Note: We analyzed rates for your two-employee business across 79 industries, focusing on general liability, professional liability, workers' compensation and business owner's policies. Our New Jersey research covers the companies we surveyed and won't include every rate available to your specific business.
Cheapest New Jersey Business Insurance by Coverage Type
The Hartford leads all four coverage categories in New Jersey, helping small businesses manage insurance costs across general liability, professional liability, workers' comp and business owner's policies. If you need different coverage types for your New Jersey small business, you can save by going with one low-cost provider rather than shopping separately for each policy:
| Workers' Comp | The Hartford | $78 |
| Professional Liability (E&O) | The Hartford | $81 |
| General Liability | The Hartford | $93 |
| Business Owner's Policy | The Hartford | $127 |
Note: We analyzed rates for your two-employee business across 79 industries, focusing on general liability, professional liability, workers' compensation and business owner's policies. Our New Jersey research covers the companies we surveyed and won't include every rate available to your specific business.
Cheapest New Jersey Small Business Insurance by Industry
Your business type determines which provider saves you the most across New Jersey industries. The Hartford leads for most small businesses with rates from $40 monthly for nonprofits to $226 monthly for plumbers, while Thimble and NEXT Insurance offer lower rates for specific business types:
- Professional Services: Client contracts requiring E&O coverage cost consultants and IT providers just $44 monthly with The Hartford, covering project errors that could exceed your entire contract value.
- Construction & Contractors: At $120 monthly, Hiscox saves contractors money while delivering the fast COI turnaround New Jersey job sites demand, covering injuries and property damage before they drain project budgets.
- Healthcare & Wellness Services: Physical therapists pay $40 monthly for New Jersey's cheapest coverage, while massage therapists pay $70 monthly with The Hartford, protecting service-based margins from treatment injury claims.
- Retail Trade: Lease agreements requiring proof of insurance get satisfied for $49 monthly with Nationwide, the lowest retail rate covering retail businesses’ slip-and-falls and property damage without eating into already-slim product margins.
- Restaurants & Food Services: Tight food margins mean every dollar counts, so Nationwide's $104 monthly restaurant rate is New Jersey's lowest, keeping you compliant with venue requirements while covering customer injuries and kitchen equipment failures.
- Transportation & Logistics: Metro-area delivery businesses pay $197 monthly with The Hartford for New Jersey's most affordable courier coverage, protecting earnings when route accidents or cargo damage hits.
How to Get the Best Cheap Business Insurance in New Jersey
Getting business insurance in New Jersey requires balancing affordable rates against coastal storm risks and metro-area liability exposure. Following these steps helps you find cost-effective coverage from reliable providers without sacrificing protection.
- 1
Assess what coverage your New Jersey business actually needs
Your first hire triggers workers' compensation immediately, while business vehicles need commercial auto at $15/$30/$5 minimums—these aren't optional. Beyond legal mandates, coastal businesses face flood risk (Sandy caused $36.9 billion statewide), retail locations need slip-and-fall protection and contractors require $1 million limits to satisfy client contracts before starting projects.
- 2
Get quotes from affordable providers with strong customer ratings
Rates for identical coverage range from $95 monthly (The Hartford) to $133 (Chubb), making comparison worth the $456 annual savings. NEXT delivers instant COIs contractors need before starting jobs, while Simply Business covers specialized risks others won't. Three quotes reveal which provider fits your budget while maintaining the claims support you'll need when storms damage property.
- 3
Check insurer reliability before committing to save a few dollars
Saving $15 monthly means nothing when storm damage repairs take months while your business stays shut. Check AM Best ratings (A- minimum) and customer reviews for claims speed because nor'easters cause $15,000 to $50,000 in property damage and lawsuits can exceed $100,000. Fast claims processing matters more than $180 annual savings when delays cost thousands.
- 4
Cut insurance costs without reducing your protection
New Jersey's high operating costs make lowering business insurance costs essential without sacrificing protection:
- Combining policies with one carrier cuts premiums: Bundling general liability, property and workers' comp reduces total costs while simplifying certificate requests when contractors need proof across multiple coverage types for different clients.
- Property deductibles of $2,500 instead of $500 lower monthly costs: Higher deductibles cut premiums when you can cover small claims yourself, though keep liability deductibles low since customer injury lawsuits in high-density areas often exceed $100,000.
- Construction and healthcare employers save through safety programs: With 145,334 construction workers and 296,888 healthcare employees across New Jersey, documented training and injury prevention lower workers' comp premiums by reducing your company's claims history and experience modification rate.
- Annual payments work for seasonal revenue patterns: Jersey Shore and Atlantic City businesses among New Jersey's 18,279 food service employers pay insurance upfront during peak summer months, avoiding monthly installment fees while cash flow runs strong.
- 5
Secure coverage that meets client contract requirements
Contractors lose projects when certificate delays hold up starts. NEXT and The Hartford deliver COIs within hours, meeting the $1 million/$2 million limits most contracts demand. Additional insured endorsements cost from included to $50 annually depending on carrier, affecting your bid competitiveness. Contract-ready coverage means you can pursue opportunities without insurance blocking deals.
- 6
Update your policy when business operations change
Professional services added 40,000 businesses since 2018, showing how fast operations scale in New Jersey. Update coverage immediately when buying expensive equipment, expanding locations or taking contracts requiring higher limits since waiting until renewal creates gaps where you're personally liable. A $75,000 equipment purchase left uninsured for months means total loss if fire or theft hits before your policy adjusts.
Best Business Liability Insurance New Jersey: Bottom Line
NEXT leads New Jersey for customer service and fast COI delivery, while The Hartford offers the most affordable coverage at $95 monthly. Your best choice depends on whether you prioritize instant certificates for contract work or lowest rates for budget management, so compare quotes from both plus Simply Business to match coverage with your specific business risks.
Business Insurance New Jersey: FAQ
Small business owners across New Jersey face numerous questions when selecting business insurance coverage. We've compiled answers to the most common concerns below:
What business insurance do I need in New Jersey, and what's required vs just something my landlord or client wants?
New Jersey requires workers' compensation for your first hire and commercial auto at $15/$30/$5 minimums. Landlords typically demand $1 million general liability with additional insured status, while clients often require professional liability coverage before contracts start.
How much does small business insurance cost per month in New Jersey for my type of business?
How much coverage costs for your New Jersey business depends on your industry, but these are the monthly and annual averages by coverage type:
- General liability insurance: $117 monthly or $1,407 annually
- Workers' compensation insurance: $83 monthly or $999 annually
- Professional liability (E&O) insurance: $88 monthly or $1,054 annually
- Business owner's policy (BOP): $168 monthly or $2,012 annually
What's a good starter package in New Jersey, and when do I add workers' comp, commercial auto or professional liability?
Start with general liability ($117 monthly) for customer injuries and property damage. Add workers' comp when hiring your first employee, commercial auto when using business vehicles and professional liability when contracts require errors and omissions coverage.
How fast can I get a COI and can you list my landlord or client as additional insured?
NEXT and The Hartford deliver certificates of insurance within hours, not days. Both providers add landlords, general contractors or clients as additional insured on your policy, meeting contract requirements so you can start work immediately without waiting.
Do I need workers' comp in New Jersey if it's just me, if I hire my first employee or if I use 1099s or subcontractors?
Sole proprietors can opt out, but corporations must cover officers and you need workers' comp when hiring your first W-2 employee. Independent contractors (1099s) carry their own coverage, though verify subcontractors have insurance before work starts.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
sources
- New Jersey Department of Labor and Workforce Development. "Workers' Compensation Insurance Coverage." Accessed January 12, 2026.
- New Jersey Motor Vehicle Commission. "New Jersey Auto Insurance Requirements." Accessed January 12, 2026.