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What type of insurance do you need?
Hazards such as damaging weather events, property crimes, and liability lawsuits are often quite expensive for businesses to deal with. Business insurance is designed to protect your company from the financial losses it may face due to these and other risks.
Virginia business insurance can prove quite beneficial as is evidenced by the fact that in 2016 alone, companies in this state collected approximately $2.8 billion in insurance claims.
A local independent agent can help you build a customized business insurance plan that is suitable to meet the specific needs of your particular company.
Liability lawsuits are among the most expensive risks faced by businesses in the United States. In fact, statisticians predict that an estimated 40% of all small businesses are likely to experience a property damage or general liability lawsuit setback in the next 10 years.
Lawsuits aren’t the only costly hazard faced by businesses. Here are some other common hazards American companies have been using their business insurance to cover:
Business insurance is designed to absorb expenses associated with a variety of potential hazards. That way, your business doesn’t have to experience large financial losses.
If your inventory is damaged, if a severe weather event forces your business to shut down for a month, if a customer files a liability lawsuit against your company, or if one of your employees is seriously injured on the job, a solid business insurance policy package can ensure that won't have to worry about how these disasters will affect your business’s bottom line.
Here’s what you can expect a well-built business insurance policy package to do:
A business insurance policy is not required by law in Virginia. However, some insurance products that are often included in a comprehensive business insurance policy package may be necessary. For example:
To learn more about coverage that your business may need to have, you can talk with a local independent insurance agent.
Business insurance rates are calculated according to a number of factors such as the type of business you have, the value of your company’s assets, the number of workers you employ, the liability exposures faced by businesses in your industry, and the amount and types of coverage you want to purchase.
Coverage needs can vary significantly from one business to the next, so it is a good idea to work with an experienced insurance agent who can help you build a comprehensive policy package for your company. These agents can help you be sure that you are getting the best and most affordable coverage for each of your business’s potential exposures.
Sometimes, the best way to get the best price for your business insurance coverage is to purchase policies from several different insurance companies. Don’t worry. When you work with an independent insurance agent, you will only have one point of contact for all of your coverage.
Yes! There are currently 463 independent agents in Virginia who are ready to help. These experienced agents can work with several different insurance providers to help you build a comprehensive and competitively priced business insurance portfolio.
Contact an independent agent near to learn more and to get help ensuring that your business is fully covered against all of its potential risks.
Number of businesses in the US: 27,626,360
Burglary rate per 1,000 residents in the US: 3.76
Auto theft rate per 1,000 vehicles in the US: 2.29
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