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Rock Insurance
Agency Inc

142 Route 70, PO Box 775
Medford, NJ 08055

Rock Insurance Agency Blog

How commercial insurance can save your small business

Being a small business owner comes with risks. Different types of businesses have different risks. Commercial insurance is not one product but a combination of products designed to mitigate risks your particular business faces. A restaurant won’t have the same risks as a construction business or a small machine shop. At Rock Insurance Agency Inc. in Medford, NJ, we believe getting to know our commercial clients personally helps us to design the policy they need to save their small business from the results of all the risks out there. 

A peril hit your business.

It happens. There are so many perils out there. If one of them hits your business, it could cause your ability to function to cease. That would be very bad for a small business. With the correct commercial property insurance, you would be able to repair your business location. It can help repair the building and the other things you need to do business, replace machinery, inventory, and raw materials. It could certainly save your small business. 

You need to pay your bills.

When a covered peril hits your small business, your income will cease. Unfortunately, your bills won’t stop. Your business has financial obligations that must be met. Business interruption insurance can make the difference between closing your doors permanently and being able to survive. It can provide funds to pay bills, rent, payroll, and other necessary expenses you normally get from revenue. 

Legal action against you

Small businesses are easy targets for legal action. It can be from someone injured visiting your business, an unhappy client, or even a disgruntled employee. Commercial liability insurance can pay for a judgment and also for legal expenses. If you had to pay these fees out of pocket, your business might not survive. 

Contact Rock Insurance Agency Inc. in Medford, NJ for all your commercial insurance needs. 

Commercial Insurance Myths Small Business Owners In New Jersey Should Avoid While Researching Policies

For over 15 years, Rock Insurance Agency Inc. has served the Medford, NJ community by helping people find the insurance coverage they need to protect their assets. We try to help our clients find multiple solutions to their problems. As an independent agency, we can offer our clients flexible policies.

Commercial Insurance Myths

A big part of the Medford, NJ economy thrives on the success of small businesses. If you are a small business owner, commercial insurance can help you secure your business’s future. The policy protects you if your property suffers any damages or if your inventory is vandalized. Liability coverage protects you if a patron gets injured while they are visiting your business. Workers’ compensation helps you take care of your employees if they are injured in the workplace while also protecting your business. Avoid some of these common commercial insurance myths while you research different policies.

Giving Advice Is Harmless

In most situations, giving advice is harmless. However, commercial insurance can cover you if someone alleges slander or negligence based on the advice that you give them. So while giving advice is relatively harmless, you still need coverage in case something is misinterpreted.

I Can Rely On My Umbrella Policy

Your umbrella coverage does not fully protect you if a situation arises. Umbrella coverage acts as a safety net on top of traditional coverage. The only way to fully secure your business is through a commercial insurance policy.

I Don’t Have To Cover My Vehicle

Many people believe that any vehicle used for business-related purposes is fully covered through a traditional auto insurance policy. If you are involved in a collision while driving one of your business vehicles, you will not be protected unless you have a commercial auto policy.

Rock Insurance Agency Inc. Will Help You Protect Your Investment

Visit our website today to learn more information about commercial insurance.  

Do I Need Commercial Insurance for a Part-time Business?

A part-time business that you decided to start can be an exciting prospect. However, there is one common question that most part-time business owners ask themselves: "Do I need commercial insurance for it?". The answer is "Yes." Rock Insurance Agency, Inc., serving clients from Medford, NJ and other surrounding towns, has prepared the list of main reasons why commercial insurance is vital for part-time businesses: 

Your home insurance does not cover your part-time business.

If you decided to store your tools and equipment in your house, it would not be covered by home insurance because it is used commercially. Also, if they cause damage to your home, most likely, you will not be covered. 

Your car insurance does cover you. 

If you drive for business purposes, you should know that your auto insurance will not cover you. If you have a vehicle registered in your company’s name, you need to purchase commercial vehicle insurance to protect it. 

You need liability coverage for business operations.

Even though your auto and home insurance provide some personal liability protection, they will not cover anything related to your business. There are several types of liability insurance, and your choice depends on the products you sell or the services you offer. The most common types of liability insurance include commercial general liability insurance, professional liability insurance, cyber liability insurance, director and officers insurance, and product liability insurance. 

If you are starting your new part-time business in Medford, NJ, or surrounding areas and you have questions about part-time commercial insurance, the agents of Rock Insurance Agency, Inc. will be glad to provide you with all the necessary information. Visit our website or give us a call to discuss the options available. 

Do you need to have commercial insurance in Medford?

Owning a business in the Medford, NJ area can be a great thing. Those that have a business here will benefit from the great local economy and steady population base. When you are going to start a business here, it is essential that you get a proper insurance policy. There are several reasons why you may need to have a full commercial insurance policy. 

Comply with Lenders and Investors

The first reason why you may need to have a commercial insurance policy in the Medford area is if you have taken out a loan or raised capital from an investor. A commercial insurance policy will offer you excellent insurance coverage, including protection for your assets or against liability. Due to this protection that it provides, having this form of insurance is appealing to your lenders and investors as it will protect their investment as well. 

Legal Requirement

Another reason to get a commercial insurance policy is that it could be a legal requirement for you. Those that own a business in New Jersey need to consider their worker’s compensation insurance requirements carefully. Depending on the type of business you have and the number of people you employ, you may need to carry this insurance at all times or face penalization. 

When you are in need of a commercial insurance policy in the Medford, NJ area, it is vital that you get a policy that is right for your organization. Picking a policy can be complicated. Fortunately, when you work with the team at Rock Insurance Agency Inc., you can receive the guidance that you need to pick a new policy. Rock Insurance Agency Inc. can do this by carefully assessing your organization. We can then build a policy for you that meets your needs. 

Ways you can get the Maximum Protection for your Business

As a business owner, you want what’s best for your business future. One great way of securing its future is deciding on the maximum insurance protection for it. No business could survive without insurance. At Rock Insurance Agency, Inc., serving Medford, NJ, we help business owners decide on the best protection based on their needs. Here are some ways you can get this protection. 

Consider More than just Liability

No law in New Jersey requires businesses to obtain insurance. However, most of them generally apply for liability insurance. This protects your business against financial loss due to property damage, libel, or slander. Depending on your situation, you might want to consider additional options such as commercial auto insurance, worker’s compensation, or business property coverage. Worker’s compensation is especially vital if you have employees within your business. Commercial auto insurance is different from regular auto insurance in that it protects your company’s car in the event of an accident.

Reassess your Liabilities every year

Your business is bound to grow the more you work at marketing it. When it grows, your liabilities grow along with it. Reassess every new liability you get for your business growth. You can do this by contacting your agent to discuss any new changes that have occurred and how they affect your insurance coverage.

Contact us for your Business Insurance needs

Making sure you have enough protection is very important for your business future. Our agents at Rock Insurance Agency, Inc. are here for you in finding the right protection based on your situation.  If your business is in Medford, NJ, or anywhere in the Tri-state area, contact our office for more information on getting a commercial insurance policy quote today.