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Insurance cover for small businesses in Virginia
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Cyber Liability Insurance protects you from the theft of sensitive data. If you suffer a data breach or software attack, Cyber Liability Insurance will cover the costs of notifying and restoring affected customers, recovering data and repairing security systems.
Commercial Auto Insurance covers your cars, trucks, and vans used in your business. It covers the costs from vehicle damage in collisions, theft, vandalism and weather damage. It also covers medical expenses for to injured parties.
Business Owners Policy (BOP) protects you from business liability and property damage at a lower cost. BOP covers claims resulting from fire, theft & disasters. BOP also covers claims of bodily injury or property damage during your business operations.
Small business Health Insurance helps you offer your employees more inexpensive access to medical insurance. Everyone can benefit from lower rates or better coverage.
Product Liability insurance covers your business if you need to recall one of your products. It covers your costs for retrieving the defective product from the manufacturer or seller to prevent any further bodily injury or property damage.
Frequently Asked Questions
Why do I need insurance for my Virginia small business?
When you start a business, you risk lawsuits from upset individuals. Unless you have substantial financial resources, businesses need to insurance to pay the high costs of defending and settling claims.
What types of insurance do I need to buy in Virginia?
Every business is different, but we recommend starting with General Liability and Commercial Property or a Business Owner's Policy depending on your size.
Do I need to purchase Workers Comp Insurance in Virginia?
Virginia requires businesses with 3 or more employees (full or part time) carry Workers Comp Insurance. If you don’t, you risk serious fines from the state.
How much does small business insurance cost in Virginia?
Depending on your size, industry, and experience business insurance can cost $99 per month and up. It’s best to request quotes from multiple carriers so you compare costs and coverage.
I have employees drive their personal vehicles, do I need special insurance?
Yes. If employees drive their own vehicles, they won’t have coverage under their personal policy for business driving. You need to purchase Hired & Non-Owned Auto to cover accidents.
Guide to commercial insurance by state
Insurance laws and requirements may vary state by state. Click on your state to discover the insurance you will need for your small business: