A commercial insurance policy protects a business from financial obligations arising from legal issues, business property damage, employee grievances, or loss of income due to business interruption. Commercial insurance is crucial for businesses since it prevents severe financial losses and ensures the business stays afloat in case of lawsuits or damages.
There are various types of commercial insurance provided by Armor Insurance Group in Virginia Beach, VA, such as
- General liability
- Property insurance
- Workers compensation
- Commercial auto insurance
- Business interruption insurance
- Cyber liability insurance
What is not covered by a commercial insurance policy?
While commercial insurance is crucial for your business, it is essential to understand specific exclusions that may affect your business. This information is vital when choosing an insurance policy in Virginia Beach VA, suitable for your business. Here are a few areas not covered by commercial insurance policies.
Professional liability insurance covers various professionals such as accountants, lawyers, doctors against payouts on claims due to poorly performed work. In the case of malpractice, different professionals face the risk of lawsuits. This is not covered under commercial insurance, and professionals are advised to purchase it separately.
Business interruption insurance
Business interruption insurance covers consequential losses a business will incur due to business interruption. A commercial insurance policy will only cover the cost of damaged goods.
Get a commercial insurance quote today.
If you are still weighing in on whether you need to buy commercial insurance or have questions about whether it will meet your business needs, Armor Insurance Group is here to help. Our agents in Virginia Beach, VA, will analyze your business and customize a policy suitable for you. Do not hesitate to reach out to us through our agents or on our website and get a quote. At Armor Insurance Group, we have got your back.