Commercial Insurance
Commercial Insurance Requirements
The law in the state requires your business if you employ two or more employees that are either part-time or full time, to have workers compensation insurance. If your business is in the construction industry then, even if you have one employee, you must have this insurance. This type of policy covers medical bills for work-related illnesses and injuries. All drivers in the state need to have liability insurance. If you have work vehicles, you should have commercial auto policies since personal insurance doesn’t cover you if your car is being driven for work purposes. Just like personal auto insurance, commercial auto insurance pays for medical bills and other damages resulting from an accident that involves your business-owned vehicles.
Recommended Insurance for Businesses
You may not be required to have other types of insurance but having different options can protect your business. An agent at Thacker Insurance Services can help you find the right options.
A general liability insurance policy is important for all businesses. It covers some common risks, such as customer injuries and property damage. Many commercial leases will require that you have this type of coverage. It can also cover slander and libel lawsuits. Professional liability insurance or errors and omissions insurance is for businesses that work in the service industry. It can cover missed deadlines and client lawsuits over mistakes. Cyber liability insurance is important in today’s world. This type of insurance helps your business survive cyberattacks and data breaches. It helps pay for legal fees, client notification costs, and other expenses related to an attack. A business owner’s policy will bundle general liability insurance and property insurance in one plan. This can be a cost-effective option for many small businesses. It covers damages to customer property and injuries, as well as damaged business property. You are also able to purchase commercial property insurance as a standalone policy to protect your equipment.
Contact Thacker Insurance Services to get a quote on commercial insurance.
While our offices are located in Manassas, VA and Washington DC, we serve clients all across DC, Virginia, Maryland, and other states.
