ERGO NEXT tops our New Jersey professional liability insurance rankings with strong customer satisfaction, competitive pricing and best-in-class digital tools. The Hartford offers the cheapest professional indemnity insurance statewide at $81 monthly, $7 below New Jersey's average rate. Simply Business, Nationwide, Coverdash and biBERK complete our picks for top errors and omissions insurance in New Jersey.
Best Professional Liability Insurance in New Jersey
Get NJ professional liability insurance quotes starting at $31 monthly from MoneyGeek's top companies like ERGO NEXT, The Hartford and Simply Business.
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Updated: February 2, 2026
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Professional Liability Insurance in New Jersey: Key Takeaways
ERGO NEXT provides the best professional liability insurance in New Jersey, while The Hartford delivers the most affordable coverage starting at $81 monthly (Read More).
Professional liability insurance costs in New Jersey average $88 monthly ($1,054 annually), placing the state among the more affordable options nationwide (Read More).
Professional liability insurance protects New Jersey businesses from financial losses caused by professional mistakes, negligence or failure to deliver promised services (Read More).
New Jersey doesn't mandate professional liability insurance for most businesses, though certain regulated professions like health care providers require this coverage (Read More).
New Jersey business owners should evaluate multiple providers and obtain small business insurance quotes to secure the most suitable professional liability coverage for their specific needs (Read More).
Best Professional Liability Insurance Companies in New Jersey
| ERGO NEXT | 4.70 | $82 |
| The Hartford | 4.62 | $81 |
| Simply Business | 4.49 | $86 |
| Nationwide | 4.42 | $93 |
| Coverdash | 4.41 | $88 |
| biBERK | 4.41 | $90 |
| Progressive Commercial | 4.36 | $86 |
| Hiscox | 4.34 | $87 |
| Chubb | 4.25 | $100 |
| Thimble | 4.20 | $86 |
How Did We Determine The Best Professional Liability Insurance in New Jersey?
These rates are estimates based on MoneyGeek's proprietary analysis of small businesses with two employees across 79 major industries and should not be considered quotes. Your actual rate will differ based on business-specific factors. Contact insurers directly for accurate pricing tailored to your business needs.
LEARN MORE ABOUT BUSINESS INSURANCE IN NEW JERSEY
Beyond professional liability insurance in New Jersey, we've provided the following state-specific resources to get the best coverage for your business:
1. ERGO NEXT: Best Professional Liability Insurance in NJ
pros
Ranks first overall for New Jersey professional liability insurance
Second-lowest rates among New Jersey's top-rated providers
Best-rated digital experience and policy management platform statewide
Top customer service scores in New Jersey
Personalized coverage matching for both types and limit amounts
cons
Lower financial stability ranking than century-old competitors
No local agent network for in-person consultations
COMPANY HIGHLIGHTS
New Jersey business owners can start working faster and keep more money with ERGO NEXT. Newark consultants and Jersey City tech startups save $7 monthly versus competitors while skipping the multi-day certificate wait. You can bid on client projects the same day you purchase coverage. ERGO NEXT matches your profession's specific risks to prevent overpaying for generic policies, and you'll manage everything from job sites without office visits or phone hold times.
2. The Hartford: Cheapest Professional Liability Insurance in NJ
pros
Lowest professional liability rates in New Jersey
Best claims process and overall satisfaction ratings nationally
Second-best customer service scores in New Jersey
Great personalized E&O coverage options for tech, law and medical professionals
cons
Digital experience ranks 10th nationally among competitors
Better suited for businesses prioritizing agent support over apps
COMPANY HIGHLIGHTS
New Jersey business owners keep $86 annually with The Hartford's lowest professional liability rates while getting the industry's fastest, most reliable claims handling. Trenton accountants and Princeton consultants save $7 monthly without sacrificing coverage quality. The Hartford's A++ Superior financial rating from AM Best means your claims get paid even during economic downturns. The insurer resolves disputes faster than digital-first competitors, which matters most for Newark law firms and Jersey City medical professionals managing complex liability situations.
3. Simply Business: Best Professional Liability Insurance Coverage Option in NJ
pros
Best coverage options in New Jersey with 16+ carrier network
Ranks third for digital experience
Backed by Travelers' A++ Superior financial stability
Finds coverage for hard-to-insure businesses
cons
Ranks eighth for claims processing
Ranks seventh for customer satisfaction
COMPANY HIGHLIGHTS
New Jersey business owners with specialized risks find coverage through Simply Business when direct insurers say no. Hoboken cannabis consultants and Atlantic City event planners get industry-specific policies through the broker's 16+ carrier network instead of generic coverage with protection gaps. You'll compare multiple quotes in 10 minutes without calling insurers individually. Simply Business matches your unique risks to the right carrier, helping you avoid overpaying for unnecessary coverage or buying too little protection for your actual exposures.
Average Cost of Professional Liability Insurance in New Jersey
Professional liability insurance costs in New Jersey vary across industries. Home-based businesses pay the most affordable rates at around $43 per month, while mortgage brokers face the highest costs at approximately $189 per month. The filtering tool below shows specific pricing for your industry, helping you find accurate rates for your business type.
Data filtered by:
Select
| Accountants | $165 | $1,975 |
| Ad Agency | $111 | $1,334 |
| Auto Repair | $93 | $1,121 |
| Automotive | $86 | $1,030 |
| Bakery | $60 | $715 |
| Barber | $49 | $583 |
| Beauty Salon | $55 | $659 |
| Bounce House | $68 | $817 |
| Candle | $47 | $562 |
| Cannabis | $134 | $1,607 |
| Catering | $90 | $1,085 |
| Cleaning | $62 | $749 |
| Coffee Shop | $70 | $845 |
| Computer Programming | $118 | $1,416 |
| Computer Repair | $72 | $860 |
| Construction | $88 | $1,061 |
| Consulting | $121 | $1,450 |
| Contractor | $71 | $852 |
| Courier | $57 | $684 |
| DJ | $51 | $615 |
| Daycare | $122 | $1,463 |
| Dental | $95 | $1,140 |
| Dog Grooming | $61 | $734 |
| Drone | $120 | $1,438 |
| Ecommerce | $70 | $843 |
| Electrical | $72 | $865 |
| Engineering | $117 | $1,404 |
| Excavation | $77 | $930 |
| Florist | $43 | $517 |
| Food | $127 | $1,528 |
| Food Truck | $67 | $805 |
| Funeral Home | $92 | $1,109 |
| Gardening | $45 | $539 |
| HVAC | $91 | $1,087 |
| Handyman | $62 | $739 |
| Home-based business | $43 | $511 |
| Hospitality | $84 | $1,005 |
| Janitorial | $56 | $678 |
| Jewelry | $69 | $830 |
| Junk Removal | $76 | $913 |
| Lawn/Landscaping | $58 | $694 |
| Lawyers | $163 | $1,957 |
| Manufacturing | $66 | $793 |
| Marine | $97 | $1,164 |
| Massage | $121 | $1,456 |
| Mortgage Broker | $189 | $2,262 |
| Moving | $91 | $1,096 |
| Nonprofit | $58 | $693 |
| Painting | $73 | $875 |
| Party Rental | $62 | $747 |
| Personal Training | $80 | $958 |
| Pest Control | $109 | $1,303 |
| Pet | $53 | $634 |
| Pharmacy | $64 | $766 |
| Photography | $73 | $881 |
| Physical Therapy | $108 | $1,293 |
| Plumbing | $101 | $1,217 |
| Pressure Washing | $65 | $777 |
| Real Estate | $141 | $1,688 |
| Restaurant | $91 | $1,089 |
| Retail | $63 | $751 |
| Roofing | $109 | $1,309 |
| Security | $113 | $1,357 |
| Snack Bars | $54 | $650 |
| Software | $109 | $1,306 |
| Spa/Wellness | $129 | $1,544 |
| Speech Therapist | $110 | $1,316 |
| Startup | $82 | $983 |
| Tech/IT | $112 | $1,342 |
| Transportation | $108 | $1,290 |
| Travel | $110 | $1,315 |
| Tree Service | $85 | $1,018 |
| Trucking | $125 | $1,495 |
| Tutoring | $68 | $821 |
| Veterinary | $131 | $1,569 |
| Wedding Planning | $87 | $1,047 |
| Welding | $87 | $1,048 |
| Wholesale | $70 | $842 |
| Window Cleaning | $70 | $839 |
How Did We Determine These New Jersey Professional Liability Insurance Rates?
These rates are estimates based on MoneyGeek's proprietary analysis of small businesses with two employees across 79 major industries and should not be considered quotes. Your actual rate will differ based on business-specific factors. Contact insurers directly for accurate pricing tailored to your business needs.
What Does New Jersey Professional Liability Insurance Cover?
Professional liability insurance in New Jersey protects your business when clients claim you made errors or failed to deliver promised services. Professional liability insurance covers the costs of defending these claims and any damages you might owe. It also pays for legal fees that can quickly add up during disputes.
This coverage goes by several names:
- Errors and omissions insurance (E&O)
- Malpractice insurance (specialized type, typically in legal and medical fields)
- Professional indemnity insurance
How Much Professional Liability Insurance Do I Need in New Jersey?
New Jersey doesn't mandate professional liability coverage for most businesses. Standard contract work requires $1 million per occurrence and $2 million aggregate annually. Physicians must carry medical malpractice insurance with $1 million per occurrence and $3 million aggregate per New Jersey Statute 45:9-19.17. Other health care workers and attorneys aren't legally required to maintain coverage but often need it for client contracts.
Who Needs Professional Liability Insurance in New Jersey?
Professionals dealing with client contracts or potential negligence claims should consider professional liability insurance in New Jersey. State law mandates coverage for Limited Liability Partnerships and physicians, while other industries need it for client contracts.
Tech Professionals
New Jersey's technology sector employs 184,395 professionals across Jersey City's fintech corridor and Princeton's corporate consulting hub with complex liability exposures from system failures and data breaches. Specialized tech E&O insurance policies protect against claims when software errors or cybersecurity incidents impact client operations.
Medical Professionals
New Jersey Statute requires physicians maintaining active practices to carry medical malpractice insurance with $1 million per occurrence and $3 million aggregate coverage. The State Board of Medical Examiners enforces this requirement, while other health care workers often need coverage when contracting with New Jersey's hospital systems and insurance networks.
Financial and Consulting Professionals
New Jersey's finance sector employs 233,500 professionals in Jersey City and Hoboken with the state's highest average wages at $157,000 annually. Professional liability coverage protects against negligence claims when investment recommendations underperform or consulting advice fails to meet contractual obligations.
Accountants
The New Jersey State Board of Accountancy regulates CPAs who need accountants' professional liability insurance to protect against claims from tax preparation errors or audit oversights. Law firms and accounting practices structured as Limited Liability Partnerships must maintain coverage under state law.
Real Estate Professionals
The New Jersey Real Estate Commission licenses brokers and salespersons across Bergen County's competitive residential market and Jersey Shore commercial properties who need errors and omissions insurance for real estate despite no individual mandate. Clients and brokerages require coverage for transaction disputes or disclosure failures.
Construction and Contractors
The Board of Examiners of Electrical Contractors and State Board of Examiners of Master Plumbers regulate New Jersey's construction professionals who need professional liability coverage beyond the state's mandatory $500,000 general liability requirement. General contractors require subcontractors to maintain coverage before allowing them on job sites throughout the state's major construction markets.
How to Get the Best Professional Liability Insurance in New Jersey
Our step-by-step guide walks you through getting business insurance in New Jersey that matches your professional liability needs and budget. Follow these six steps to secure coverage that protects your business.
- 1
Assess your professional liability insurance coverage needs
Start by evaluating your business risks and whether you're subject to New Jersey's professional licensing requirements enforced by the Division of Consumer Affairs. A Hoboken fintech developer working with client financial data has different liability exposures than a Trenton marketing consultant, while Bergen County contractors must consider how their mandatory $500,000 general liability requirement affects professional liability needs.
- 2
Work with a local agent
Find an agent who understands how New Jersey's proximity to New York City and Philadelphia affects business insurance costs and client coverage expectations. Agents familiar with New Jersey can explain why Princeton pharmaceutical consultants need higher limits than the state average due to regulatory scrutiny, while Jersey City financial advisors encounter unique exposures from serving Wall Street-adjacent clients.
- 3
Get quotes and compare coverage details
Request quotes from at least three insurers who understand New Jersey's professional liability landscape, comparing both affordable business insurance rates and how policies handle claims in the state's court system. An Atlantic City hospitality consultant should examine whether policies cover New Jersey-specific risks like compliance with the state's 51+ professional licensing boards, not just premium costs on $1 million policies.
- 4
Research the best providers
Look beyond price to find insurers with strong track records handling professional liability claims in New Jersey. Check AM Best ratings and verify the insurer is licensed through New Jersey's Department of Banking and Insurance, then read reviews from professionals in your industry who've navigated claims in the state's regulatory environment.
- 5
Consider bundling discounts
New Jersey's diverse economy creates bundling opportunities when you combine professional liability with other types of business insurance specific to your industry. A Newark accounting firm serving individual and corporate clients saves 15% by bundling professional liability with cyber insurance to protect against data breaches, while Middlesex County engineering consultants bundle with commercial auto coverage for site visits.
- 6
Don't let your coverage lapse
New Jersey's active professional licensing boards and litigious business environment require continuous coverage, as claims can surface years after completing work. A Camden management consultant switching carriers should ensure the new policy covers prior acts or purchase tail coverage (extended reporting coverage) from the old insurer. New Jersey statute requires physicians to maintain tail coverage when changing policies, making this protection particularly important for licensed professionals.
Get New Jersey Professional Liability Insurance Quotes
MoneyGeek matches New Jersey businesses with professional liability insurance providers suited to your industry. Use our tool below to find top-rated companies and receive quotes customized for your business needs.
Get Matched to the Best NJ Professional Liability Insurer for You
Select your industry and state to get a customized NJ professional liability insurer match and get tailored quotes.
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New Jersey Professional Liability: Bottom Line
Finding the right professional liability insurance in New Jersey comes down to understanding your business risks and working with the right provider. ERGO NEXT earns our top rating, but your industry, client contracts and budget guide your final decision. Start by assessing your needs, then work with a local agent to compare options and secure coverage that financially protects your business.
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.