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Rock Insurance
Agency Inc

142 Route 70, PO Box 775
Medford, NJ 08055

Rock Insurance Agency Blog

Will my commercial insurance protect my business if we have a closure because of severe weather?

Commercial insurance in Medford, NJ is most commonly for losses because of unexpected incidents like fires or thefts. Your building and property are protected from damages because of accidents or crimes. 

There are other kinds of losses your business could suffer because of bad weather. At Rock Insurance Services, we help small businesses in the Tri-State area make sure they have the coverage they need so they can move on after unfortunate events. 

When Your Business Is Closed Through No Fault Of Your Own

Sometimes there are events, like big storms, that cause businesses to shut down until necessary repairs are made. While you are waiting, you still have to pay the same bills. Your bank still wants your mortgage payment, your employees need to be paid, and you need to keep paying your other day-to-day bills. Unfortunately, you aren’t making money while your business is closed.

Business Interruption Insurance

If you have a business interruption policy, you can make a claim on the income you aren’t receiving. If not already included in your Business Owner Policy (BOP) you can purchase protection separately.

Even if you have business interruption insurance, you can still run into problems while you are waiting to reopen. Talk to your insurance agent about the steps you need to take for your insurance claim and make a plan for your business so that nothing is neglected while you wait.

We Are Here To Help

If you have a small business in the Tri-State area, you should check your policies to make sure you are comfortable with your level of coverage. Rock Insurance Services can help you personalize your insurance package so your Medford, NJ has the protection it needs. Call today so we can give you your options. 

Essential insurance policies every business owner should consider

Every business owner should take the time to consider essential insurance policies that can save them in case of a disaster here in the Medford, NJ, or Tri-State areas. Different forms of insurance are available depending on the type of business, and each offers different types of protection.

Here are some essential insurance policies at Rock Insurance Services every business owner should consider: 

1. General Liability Insurance

This type of policy is necessary for any business, as it covers bodily injury, property damage, libel or slander, and other legal issues related to your business operations. This insurance will protect you from claims or lawsuits resulting from clients’ injuries or damages caused by your services. 

2. Property Insurance

Property insurance covers damages to your commercial property caused by weather, theft, fire, and other disasters. It may cover the cost of replacing valuable items such as computers and furniture if they become damaged due to an event covered by your policy. 

3. Business Interruption Insurance

If your business experiences a prolonged shutdown due to unforeseen circumstances such as natural disasters or pandemics, this coverage will help to offset some of the lost income during that period of time. It can also help to cover certain expenses related to continuing operations while closed down, such as payroll costs and loan payments. 

4. Workers’ Compensation Insurance

This is important for businesses with employees as it covers medical costs associated with workplace injuries along with wages lost due to an employee’s inability to work due to their injury/illness sustained at work. 

Reach Out To Us 

For more information, give us at Rock Insurance Services a call today. We are proud to serve the Medford, NJ and Tri-State areas and would be happy to help you.

Who needs to have a commercial insurance plan in New Jersey?

Being a business owner is a dream for many people in the Tri-State area. When you are looking to build a business, the greater Medford, NJ area can be a great place to begin. If you are looking to start a business here, you should make sure that you are properly insured.

A business here will need to have a commercial plan for various reasons:

Comply with Requirements

A reason that you will need to have a commercial plan in this part of the Tri-State area is so you can comply with requirements. There are a lot of situations when a business could be required to have coverage. If you have taken out a loan or raised money from investors, you will undoubtedly be required to carry coverage. When you get the right insurance, it can help you stay in good standing. This can help you avoid penalization and reputational damage. 

Protect The Financial Viability of Business

It is also a good idea to get a commercial plan as it can help protect the financial viability of your business. When you have this insurance, it will offer various forms of financial protection. This includes the support you need to offset liability claims and ensure your core assets are protected. This will help ensure you have protection during some otherwise difficult situations. 

Rock Insurance Services Is Here To Help!

As you are looking to get into a new commercial insurance plan for your Medford, NJ area business, it will be important that you discuss your needs with someone that you can trust. Our team with Rock Insurance Services knows the value of this coverage and can help you evaluate all of your needs and options. This will give you the support you need to build a plan that is right for your business. 

Three things you’ll like about commercial insurance coverage

Owning a business can at times be a stressful experience. This is especially true when you’re not carrying commercial insurance for your business in the Tri-State area. If you’re looking for commercial insurance coverage for your company, we can help you at Rock Insurance Services in Medford, NJ.

The following are three things you’ll like about carrying commercial insurance for your business:

Commercial insurance coverage can give your employees more financial security.

Your employees will really appreciate it if you carry workers’ compensation insurance as part of your commercial insurance policy. This type of insurance will protect your employees financially if they end up getting injured on the job and cannot return to work as a result. 

Workers’ compensation coverage doesn’t just benefit your workers but also keeps you compliant with state law. In New Jersey, workers’ compensation insurance is required for all employers that are not either covered by Federal programs or approved to self-insure their company. 

Commercial insurance coverage can minimize the damage caused by a burglary at your facility. 

A burglary can be very costly for a business. Commercial insurance policies will often provide coverage for financial losses resulting from a burglary. 

Commercial insurance coverage keeps your company out of all kinds of trouble.

Without commercial insurance, your company could end up in financial trouble due to a lawsuit. Your company can also end up in legal trouble if you don’t carry any commercial auto or professional liability insurance that is required. 

Call us at Rock Insurance Services to discuss more of the great aspects of having commercial insurance in the Tri-State. Rock Insurance Services can offer commercial insurance policy quotes to business owners in Medford, NJ. Contact us to learn more. 

Why To Add Workers’ Compensation Coverage in Your Commercial Insurance Policy

Workers’ compensation insurance is something that all businesses should have. This vital coverage is included under the umbrella of commercial insurance. It provides coverage for employees who are injured or become ill as a result of their job. It can also keep your business afloat if you are sued for damages.

However, there are a few things that you should know before you purchase workers’ compensation insurance. Rock Insurance Services in Medford, NJ serving the Tri-State area business is here to provide a guide. 

Even Small Businesses Need Workers’ Compensation Insurance

Some business owners think that they don’t need workers’ comp because they have a few staff or because their employees are not in danger of being injured on the job. However, any business can be sued for damages if an employee is injured or becomes ill as a result of their job.

Workers’ Compensation Insurance Is Required by Law

In most states, businesses are required to have workers’ compensation insurance if they have employees. This includes full-time, part-time, and seasonal employees. The only exception is if the business is owned by a sole proprietor with no employees. In this case, the owner can opt out of workers’ compensation insurance.

You May Need More Than the Minimum Coverage

Sometimes, the minimum amount of coverage required by law may not be enough to protect your business. So, it’s essential to speak with an insurance agent to determine how much coverage you need. This will depend on factors such as the size of your business, the type of work your employees do, and the amount of risk involved.

Workers’ Compensation Insurance Protects Both Employees and Employers

Workers’ compensation insurance is a win-win for both employees and employers. Employees are protected if they are injured on the job, while employers are protected from being sued for damages.

So, if you have employees, it’s essential to make sure that you have workers’ compensation insurance. It could save you a lot of money and headaches in the long run.

Are You Ready to Protect Your Business?

Now that you know a little bit more about workers’ compensation insurance, it’s time to get started on finding the right policy for your business. Remember to keep the above things in mind when shopping around.

Get Coverage For Your Business Today

If you need help finding the right workers’ compensation insurance for your Tri-State area business, contact us at Rock Insurance Services in Medford, NJ today. We’ve got a team of experts ready to answer any questions and help you find the perfect policy for your needs.

Give us a call or fill out our online quote form to get started. We look forward to helping you protect your business!

Do I Need Commercial Insurance?

If you are a business owner, it is imperative that you have the proper insurance products in place to protect the investment you have made in both time and money. Rock Insurance Agency can help you make smart insurance choices in Medford, NJ and the Tri-State area. Keep reading to learn more about commercial insurance and how it can help you. 

What Is Commercial Insurance?

Commercial insurance is a type of insurance product that is specifically designed with business owners in mind. There are many layers to running a successful business. It is important that you have insurance protection for each of those layers. 

Instead of having several different types of insurance coverage, a commercial policy will bundle different types of insurance coverage so that you can streamline and save money. 

What Does Commercial Insurance Cover?

A commercial insurance policy can be customized to meet your needs, but in general, a policy will cover the following areas:

  • Property Damage– If your place of business is damaged, your insurance coverage will kick in to pay for repairs or replacement of property or equipment. Without this important type of coverage, you would be paying these expenses out of pocket. 
  • Auto Coverage– If you need to use vehicles in the daily operation of your business, you will need to make sure that both your drivers and the vehicles are protected. A commercial auto policy can provide this. 
  • Liability– When you own your own business you are at special risk of liability. If someone is hurt at your business or because of your goods or services, you could be held responsible for medical bills or legal fees unless you have liability insurance in place. 

Give Us A Call

If you would like to learn more about commercial insurance, please contact us at Rock Insurance Agency serving Medford, NJ and the Tri-State area.

5 Types of Coverage Every Business Owner Needs

No matter what type of business you own, it’s important to have the right insurance coverage. There are various coverage types available, and it can be difficult to determine which ones you need. Rock Insurance Agency, serving Medford, NJ and the Tri-State area is here to navigate this important coverage.

To help you make the best decision for your business, here is what every business owner should consider:

5 Types of Coverage Every Business Owner Needs

1. Property Insurance

If you own a business, chances are you have some type of property, whether it’s a physical location or equipment. Property insurance can help protect your business in the event that this property is damaged or destroyed.

2. Liability Insurance

Liability insurance can help protect your business from claims that may arise from your business operations. This type of coverage can help cover the cost of damages that you may be held responsible for and the cost of legal fees if you are sued.

3. Product Liability Insurance

If you sell products, it’s important to have product liability insurance. This type of coverage can help protect your business from claims that may arise from injuries or damages that are caused by your products.

4. Business Interruption Insurance

Business interruption insurance can help protect your business from lost income if your business is forced to close due to a covered event. This type of coverage can help you cover the cost of expenses, such as payroll and rent, while your business is closed.

5. Professional Liability Insurance

Professional liability insurance can help protect your business from claims that may arise from your professional services. This type of coverage can help cover the cost of damages that you may be held responsible for, as well as the cost of legal fees if you are sued.

Give Us A Call

You should never go into business without being fully protected. The best way to do this is to have the right insurance coverage in place. Rock Insurance Agency, serving Medford, NJ and the Tri-State area, can help you find the right commercial insurance for your business. Contact us today to get started.

How to Choose the Right Commercial Insurance for Your Business

As a business owner, you know that protecting your company is paramount. But with so many different types of commercial insurance available, it can be hard to know which one is right for your business. Rock Insurance Agency, Inc., serving Medford, NJ and the Tri-State area, offers the following guide to navigate this important coverage.

Here are a few things to consider when choosing the right commercial insurance:

1. The Size and Scope of Your Business

The first thing you’ll need to consider when choosing commercial insurance is the size and scope of your business. If you have a small business with only a few employees, you may not need the same level of coverage as a larger company. Likewise, if your business operates in multiple states or countries, you’ll need to ensure your policy covers you in all jurisdictions.

2. The Type of Business You Run

For example, if you’re a manufacturing company, you’ll need to ensure your policy covers any potential liability from your products. On the other hand, if you’re a service-based business, you’ll need to ensure your policy covers any potential liability from your employees.

3. The Cost of Your Policy

Of course, you’ll also need to consider the cost of your policy when choosing commercial insurance. Make sure to get quotes from multiple insurers so you can compare rates. And be sure to read the fine print of any policy you’re considering to know exactly what’s covered.

4. Your Exposure to Risk

Another important factor to consider is your risk exposure. For example, if your business is located in a high-crime area, you’ll need to ensure your policy covers theft and vandalism. Likewise, if you work with hazardous materials, you’ll need to make sure your policy covers any potential environmental damage.

Give Us A Call

As you have seen, there are many factors to consider when choosing commercial insurance for your business. But by taking the time to evaluate your needs, you can be sure to find the right policy for your company. If you’re looking for commercial insurance in Medford, NJ and the Tri-State area, Rock Insurance Agency, Inc. can help. We offer a wide range of commercial insurance policies, so we’re sure to have one that’s right for your business. Contact us today for a free quote.

Does My New Jersey Company Need Commercial Insurance?

Calling all business owners in Medford, NJ — Do you have an updated commercial insurance policy? If you are unsure, the agents at Rock Insurance Agency Inc. recommend looking into it immediately to see what coverage you do have and where the gaps are. 

New Jersey Commercial Insurance 

If you own a business in the tri-state area, commercial insurance is a must for financial security and the protection of any assets within the business. While commercial insurance isn’t required by law in New Jersey, the protection it offers is more than enough reason to make the investment. Rock Insurance Agency Inc. offers expertise and assistance when it comes to selecting the right policy. 

As a business owner, you know there are risks involved in running a business. If you can minimize those risks and protect your business, why wouldn’t you? Commercial insurance is often required by lenders and investors, so you may not have many options in the matter regardless. 

Lastly, if you have a certain number of employees that work for your business, you will need worker’s compensation insurance (also depending on the type of business you have). This type of insurance protects a business in the event that an employee becomes injured on the job. 

By now, you probably understand how important commercial insurance is for any business. While it may not be required in Medford, NJ, the benefits and protection it offers are more than worth the price. If you aren’t sure where to start with this type of insurance for your business, contact Rock Insurance Agency Inc. today. Selecting the right policy can be stressful and confusing, and our agents are more than capable of selecting the best policy for you. 

What is a Business Owners Policy?

Business owners’ policies (BOPs) are insurance covers created to provide a broad spectrum of insurance coverage against many risks that often plague small to medium-sized businesses. Typically, the BOPs contain bundled general liability and commercial property coverages into one package that is usually affordable than acquiring single coverage policies.

These policies also cover business interruption risks, and they can protect your business from potential income loss. The cover also protects the policy holder’s business whenever staff or clients sue because of personal harm. The covers are ideal for small and medium businesses. But they sometimes bundle unnecessary cover options that aren’t required by some businesses.

Commercial Property Protection

The property coverage element of the BOP protects different kinds of property, including:

  • Commercial premises defined in the policy’s declaration and equipment installed at the premises
  • Any tenant improvements on the declared commercial premises.
  • Property belonging to renters but stationed on the premises
  • Business personal property within the premises

General Liability Protection

The BOP also protects third parties through its third-party liability cover that caters to:

  • Advertising and personal injury liability
  • Property and bodily injury liability
  • Medical payments coverage for any injured individuals with a valid claim

Extra BOP Coverages

The BOP also contains some more coverages that expand its scope of protection, and some coverages include:

  • Electronic data breaches protection
  • Civil authority coverage
  • Mold damage coverage
  • Accounts receivable protection
  • Computer systems interruptions coverage
  • Valuable papers coverage

Get a Business Owners’ Policy Today

Are you a Medford, NJ resident, and you’d like to get a business owner’s policy? If so, visit Rock Insurance Agency Inc. to get your BOP. At Rock Insurance Agency Inc., we provide updated business owners’ policies to Medford, NJ, residents. Check out our website to learn more.