If you own a business, you’re likely interested in cutting costs wherever you can. You might be wondering whether you need commercial insurance for your business in Virginia Beach, VA. The simple answer is, most likely you do need to ensure your business. Even in the instances when it’s not required, it’s a wise precaution. Here are a few circumstances that warrant the need for an Armor Insurance Group commercial policy.
If You Use Business Vehicles
Does your business require the use of cars or trucks?
If you regularly have to deliver products or services to your customers in-person, you need commercial vehicle insurance.
In fact, it’s required by law in the state of Virginia. If you have a business vehicle, it must be registered as such with the Department of Motor Vehicles. In order for this to happen, the vehicle must be commercially insured.
If You Do Business Outside Your Home
Is your business home-based, or do you rent a property?
If you own or rent a business property, you need commercial liability insurance.
It’s true that this type of insurance is not legally required unless you took a mortgage out on your rented property. Still, it’s a smart investment.
If you choose not to have property commercial insurance, you open yourself to the possibility of a serious loss. For instance, if your place of business is damaged by fire, you can’t recoup any of those investments if you have no commercial property coverage.
If You Have Employees
If you work alone, perhaps commercial insurance may not be as much of a priority, although it’s still an essential form of protection.
If you have employees, however, commercial insurance is a safeguard for you and them. In some states, commercial insurance is required if you have employees working at your place of business, or if you have customers visiting your premises. Virginia is not one of these states. However, if anyone sustains an injury on your business property, you can stand to lose your entire enterprise if you are sued.
Are You Ready To Invest In Protecting Your Business?
If you’re ready to protect your Virginia Beach, VA business, call and touch base with an Armor Insurance Group agent today. You can discuss your policy options and keep your business from being forced into bankruptcy after a single lawsuit.