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MSM Insurance Agency Inc

78 John Miller Way
Ste 1014
Kearny, NJ 07032

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973-668-0822

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Commercial Insurance

Commercial Insurance Products to Consider From a eCommerce Store

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Operating an eCommerce store can present fascinating opportunities and unique risks. At MSM Insurance Agency Inc. in Kearny, NJ, we’re committed to helping you manage these challenges with the right insurance solutions.

Recognizing the Importance of General Liability Insurance

General Liability Insurance is indispensable for any online business. This policy safeguards against claims related to third-party injuries or property damage. Even without a physical storefront, your business can confront legal issues if a product you sell causes harm. For example, if a customer alleges injury from an item purchased from your store, this insurance may cover legal fees and settlements.

Necessity of Product Liability Insurance

If your store deals in physical goods, Product Liability Insurance becomes vital. This cover shields you from potential lawsuits caused by product defects. If a product malfunctions and harms a user, this insurance helps manage the financial impact, ensuring your business can handle unexpected claims.

Guarding Against Cyber Threats

In this digital age, Cyber Liability Insurance is crucial. With the increasing prevalence of cyber-attacks, this policy protects your business from data breaches and other cyber events. It helps cover recovery costs and safeguards your reputation. This insurance covers notification costs, credit monitoring services, and legal expenses if customer data is compromised.

Business Interruption Coverage

Unexpected disruptions can significantly impact your operations. Business Interruption Insurance offers financial support if your business experiences downtime due to a covered event. This ensures stability during challenging times by covering lost income and ongoing expenses.

Ensuring the success of your eCommerce business requires careful planning. Contact MSM Insurance Agency Inc. in Kearny, NJ, for personalized advice and comprehensive insurance options. Let us help you effectively protect your online venture.

Commercial Trucking Insurance Add-Ons

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Add-on insurance provides the ultimate level of protection for your fleet of commercial trucks. Let’s explore some unique circumstances that could benefit from add-on coverage.

Downtime

Downtime can restrict how much you use one or more of your commercial trucks to haul goods. This reduced amount of usage will likely impact your business’s income.

Downtime coverage provides protection when one or more of your trucks are out of commission. For instance, downtime coverage will compensate your business if a vehicle is undergoing service. This type of coverage allows you to sustain consistent income levels.

Rental Reimbursement

If one of your trucks requires servicing, it could disrupt your regular operations. Renting a replacement vehicle during this period will be an additional cost.

This is where rental reimbursement insurance becomes beneficial. This insurance covers the cost of renting a vehicle. If the cost of renting a vehicle doesn’t align with your budget, acquiring rental reimbursement coverage would be advantageous.

Non-Owned Automotive Coverage

In instances where you do not have access to your entire fleet, you may be required to use a personal vehicle. Excessive usage can lead to frequent automotive repairs.

Purchasing non-owned automotive coverage will compensate you for out-of-pocket costs incurred while using a personal vehicle for business operations.

More Information

Gain further insights about commercial insurance and additional add-ons by scheduling a consultation with one of our MSM Insurance Agency Inc. representatives. An agent serving the Kearny, NJ, region is ready to meet with you.

Commercial Insurance: FAQs

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Unraveling Business Insurance for New Jersey Businesses

Are you a business owner seeking to protect your venture with the right commercial insurance? Perhaps you’re contemplating upgrading your existing policy. This blog helps answer common questions related to business insurance.

What type of business insurance do you need?

A multitude of insurance options are available for your business and should be chosen based on your company-specific needs. For instance, if you own a commercial property, you might want to consider a business owner’s policy. Additionally, having workers’ compensation is essential if you employ staff.

Is insurance necessary for home businesses?

Yes. If you operate a home-based business, securing relevant insurance is critical. Home businesses, much like traditional businesses, face similar risks. If customers frequently visit your home-based entity, it’s best to have general liability insurance.

Is business insurance mandatory in New Jersey?

All limited liability companies (LLCs) and partnerships must have proper business insurance coverage in New Jersey. Further, like most US states, New Jersey requires all companies to have workers’ compensation coverage to protect employees.

If you’re a business owner in New Jersey and require commercial insurance, contact MSM Insurance Agency Inc. We’re equipped to provide the necessary information about various insurance options. Serving clients in Kearny, NJ, and nearby areas, we’re eager to answer your questions and provide extensive support.

Four important decisions you make when you buy commercial insurance

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You’ll have plenty of important decisions to make when you are in the market for the right commercial insurance for your company in Wenatchee, WA. At MSM Insurance Agency Inc., we can help you make these important decisions so that your company is adequately covered.

The following are four important decisions you make when you buy commercial insurance:

The amount of coverage you buy for your company

You need to make sure that your company is adequately insured by choosing high enough coverage maximums. It’s best to purchase enough coverage for your company so that you’re covered for the full value of your company’s assets. 

The types of coverage you invest in

Before you purchase a policy, familiarize yourself with all the different types of commercial coverage.

All commercial policies should include liability coverage. Your commercial insurance policy may also need to include commercial auto, workers’ compensation, commercial property, or business interruption coverage. These are just a few of the many available coverage types. 

The insurance provider you purchase your policy from

Choosing the right insurance provider is important. Purchase your commercial insurance with an established insurance provider with a history of providing good customer service and quality coverage. 

The deductible amounts on your commercial insurance policy

Commercial insurance policies typically include deductibles. You’ll have to pay your deductible when you file a claim. Deductible amounts have a big impact on premium costs.

You should choose a deductible amount that’s low enough for your business to be able to easily cover it if you have to file a claim.

Reach Out To Us

It’s essential to purchase insurance for your Wenatchee, WA business. Contact us at MSM Insurance Agency Inc. to get a policy quote and find the right coverage for your company.