Commercial Insurance FAQs

Posted on August 29, 2022September 7, 2022 by admin

Commercial insurance offers a lot of protection to businesses that face massive amounts of risk on a daily basis. It can be what saves a business when peril strikes. Bacon Insurance Group in Richmond, VA will take the time to get to know your business so that we can help you to get the right coverage for your particular risks.

Commercial Insurance FAQs

Why does a business need liability insurance?

Your business could be sued. As a matter of fact, there is a pretty good chance that at some point your business will be sued. When you are sued you could be liable for medical bills, property damage, and the cost of litigation. This could result from an accident, but you can also be sued by a customer injured by your product or the work that you did or by an employee. A judgment could cost you your business if you don’t have the right commercial liability insurance.

Do you need commercial property insurance if you are a renter?

Yes, you do. Unlike home or renters insurance, commercial property insurance is not just about the building, it is also about the content. The content of your business is what you use to do business. It depends on what type of business you have but it can be tools or machinery, inventory or raw materials, display cabinets, electronics, office equipment, furniture, and anything you use to do business.

What is business owners’ insurance?

A business owner’s policy (BOP) is a commercial insurance policy that combines property insurance with liability insurance. By combining these two vital types of coverage into a single p[policy, the rate that you pay is often better. This policy is a good choice for a small or medium-sized business.

Contact Bacon Insurance Group in Richmond, VA to discuss how we can help you with your commercial insurance.

The 5 Most Common Types of Losses and How to Protect Your Home

Posted on July 29, 2022August 4, 2022 by admin

A home is one of the largest investments you make. Aside from money, you invest time, energy, and memories. Here at Bacon Insurance Group in Richmond, VA, we know how important your home is to you. We want to help you protect it.

Here are the five most common losses and the steps you can take to protect your home:

1. Wind and Hail Damage

When the weather report indicates high winds, take the time to tie down or put away any outdoor furniture or lawn ornaments. Park cars in the garage to avoid hail damage and regularly have your roof inspected.

2. Water Damage and Freezing

Notice a leak? Turn off the water to your house until the cause is found and addressed. Winterize your home to make sure your pipes are ready. Check with FEMA to see if you are in a flood zone.

3. Fire and Lightning

Make sure your fire alarm batteries are regularly changed. Avoid leaving candles, plugins, or wax warmers unattended.

4. Liability

To avoid injury to guests on your property, be aware of anything that poses a risk. If you cannot fix them, tell your guests about them and do your best to find ways around them.

5. Theft

Invest in a quality home alert system. Leave your porch light on at night to discourage curious eyes. Communicate regularly with your neighborhood watch.

Give Us A Call

The truth is, we cannot control the weather, and accidents happen. Aside from taking these precautions, the best way to protect your home is to get the right coverage. Bacon Insurance Group can help with that. Call us today to get more details about how our Richmond, VA office can protect your investment in your home.

Life insurance FAQs

Posted on June 13, 2022June 13, 2022 by admin

Life insurance is one of those things that, unless you are in the insurance business, you probably have little or no knowledge about. That is true for most people. In spite of that, it is something that you need to think about sooner rather than later. In the greater Richmond, VA community, Bacon Insurance Group is your local independent insurance agent. Our team will work with you to make sure you have the right kind and amount of life insurance.

Life insurance FAQs

When should I buy my first life insurance policy?

The simple truth is, before you need it. The reality is that when you are healthy and young, you will get the most choices and the best rates. It is a good idea to start with a whole life policy that will last for your entire life. At this point a term policy might run out while you still need it,

Do I need my own life insurance if I get some from work?

Yes, you do. What if you change jobs, and chances are pretty good that you will. Can you take your life insurance with you? Is it at the best rate you could get for a similar policy and is it the amount you need? You need to be in control of your life insurance.

Can I pick anyone to be my beneficiary?

Yes, you can. Be aware, however, that if you choose a child, they will need to reach their legal age before they are able to access the money.

Is there such a thing as too much life insurance?

If you are struggling to pay your premiums, then yes, maybe you have too much life insurance or, at the very least, the wrong kind. Sit down with your independent insurance agent to discuss your concerns.

In Richmond, VA contact Bacon Insurance Group to discuss what your life insurance needs are.

What Factors Affect My Auto Insurance Rates?

Posted on May 19, 2022May 19, 2022 by admin

The cost of your auto insurance has a significant impact on your overall cost of car ownership. Therefore, it’s no surprise that many car owners in Richmond, VA, are looking to keep their car insurance rates at the minimum level. Here are factors that can increase or lower your car insurance rates.

1. Your Age

Auto insurancers typically view younger drivers, especially those in their teens and early 20s, as a more considerable risk and more expensive to insure and charge them higher insurance rates. This is because younger drivers are less experienced. Older drivers – those above 50 years old – have more affordable insurance rates.

2. Driver’s History

Car insurance companies consider a driver’s past as a reliable predictor of their future. Therefore, if your driving history is full of DUIs, speeding tickets, and reckless driving charges, they assume you will have more of those in the future and charge you higher auto insurance rates. However, your rates will be much lower if you have a clean driving history. This is why at Bacon Insurance Group, we advise drivers to do their best to abide by traffic laws and regulations.

3. Your Credit Score

According to reliable data, drivers with a poor credit score file more claims compared to drivers with a good credit score. Thus, if your credit score is poor, your car insurance rates will be higher, and if it’s good, you will have lower rates.

4. Annual Mileage

The more miles you accumulate on your car, the more likely you will get involved in an accident. As a result, auto insurance providers usually charge higher rates to drivers with higher annual mileage than those with lower annual mileage.

Are you looking for a reputable auto insurance provider to insure your car in Richmond, VA? Contact us at Bacon Insurance Group, and our friendly auto insurance professionals will help you figure your car insurance out. Call us today.

How To Avoid Small Business Risks

Posted on April 26, 2022April 27, 2022 by admin

You have invested a lot of time, energy, and money in your business. In order to protect these investments, you need to understand how to avoid some of the most common types of risks. At Bacon Insurance Group, serving Richmond, VA, we can help you protect your company with the right insurance information and products. Let’s look at some tips to help your business.

How To Avoid Small Business Risks

Stay Properly Insured

The most important step you can take to protect your business is to find a solid commercial insurance policy to suit your needs. Each business will be different, which is why it is imperative that you sit down with a knowledgeable insurance representative to talk about your particular needs. A commercial policy will cover many of the riskiest areas of your business to ensure that you are not put into a vulnerable financial position if something goes wrong.

Train Employees Thoroughly

If you want to avoid employee injuries and liability cases, make sure you invest time in thoroughly training your employees. A lack of training will leave employees vulnerable to injuries. A lack of training could also result in your employees mishandling products, putting customers at risk.

Prioritize Safety

Although you may be tempted to cut corners when it comes to safety, this can really cost a business a lot of money and trouble should something go wrong. Be sure you prioritize safety at your place of business, when your employees use company vehicles, and anytime they interact with customers.

If you would like to learn more about commercial insurance, or any of our other insurance products, please contact us at Bacon Insurance Group, serving Richmond, VA, and surrounding communities.

Best Ways To Protect Your New Home

Posted on March 31, 2022March 31, 2022 by admin

Buying a new home brings with it a feeling of excitement and accomplishment. Now that you have gotten through the difficult part of purchasing your house, you will want to take the proper steps to protect it. At Bacon Insurance Group, serving Richmond, VA, we can help by providing you with the information and insurance products you need. Keep reading to learn how you can protect your new home.

Solid Homeowner’s Insurance

Homeowner’s insurance is a must if you have a mortgage on your new home, but you need to take the time to shop around for the best policy that will adequately cover your home. Be sure to read your policy carefully and discuss any questions you have with an insurance representative.

Security Systems

You may feel like you have already spent a lot of money on getting your new home, but investing in security is essential to the long-term safety of your home. Quality security systems are far more affordable today than they were in the past. The money you spend on this investment is well worth the peace of mind it will provide for you.

Safety Rules

It is essential to establish safety rules for your home as well. If you have children or teens in your home, this is a must. Be sure to sit down as a family to discuss the safety rules for your homes and how these rules should apply to everyone. Make sure you have established rules about using fire, the pool (if you have one), and visitors.

It is also good to create a closing routine for your house every night. This will include that you will lock up every night and establish a time that all housemates should be in.

If you would like to learn more about our services, don’t hesitate to contact us at Bacon Insurance Group, serving Richmond, VA.