Not as a single package. Workers’ compensation is required based on workforce size or licensed construction activity. Vehicles must carry the state’s minimum liability limits. Beyond that, your lease, contracts, lender, or professional board often require additional coverage even when state law does not.
FAQ_category: (HIDDEN) Industry FAQs
Penalties reach $5,000 for the first ten days without coverage and up to $5,000 for each ten-day period after that. Willful violations are a fourth-degree crime. Owners, partners, and LLC members become personally liable for an injured worker’s benefits, enforceable against personal assets.
General liability insurance starts around $29 per month for many New Jersey small businesses, with an average of about $89 per month. Industry, revenue, employee count, claims history, and coverage limits all affect your price. Higher-risk work like construction typically costs more than office-based services.
As of January 1, 2026, New Jersey requires $35,000 per person and $70,000 per accident in bodily injury liability, plus $25,000 for property damage. The limits apply to all new and renewal policies. Business vehicles need commercial auto coverage at or above these amounts.
New Jersey requires anyone selling or performing home improvement work to register with the Division of Consumer Affairs. Registration requires commercial general liability insurance of at least $500,000 per occurrence, plus workers’ compensation unless exempt. The rule applies even to part-time work.