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3711 Westerre Pkwy, Suite D
Richmond, VA 23233

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Four things that your commercial insurance policy can do for you

As a business owner, you need to understand why it’s so important for you to have commercial insurance. Your commercial insurance policy can do a lot of things for your company. If you own a business in Richmond, VA, we can insure you at Bacon Insurance Group. 

The following are four things that your commercial insurance policy can do for you:

Your commercial insurance can protect your employees if they become injured on the job.

A commercial insurance policy that includes workers compensation coverage will financially protect your employees. This type of coverage compensates your employees if they become injured on the job.

The state of Virginia requires business owners with more than two employees to carry workers compensation coverage. 

Your commercial insurance can cover your company’s liabilities.

General liability coverage is important because your business could face a lawsuit. A commercial insurance policy usually includes liability coverage that can pay for a company’s legal costs and the penalties they need to pay as a result of a lawsuit. 

Your commercial insurance can make it easier for your company to grow.

Most business loan lenders will only loan capital to businesses that are insured. Carrying commercial insurance can therefore make it easier to grow your company by getting the capital you need to invest in your company and take on new projects. 

Your commercial insurance can keep your company afloat if your business operations are interrupted.

Commercial insurance can include business interruption coverage. This type of coverage can pay to keep a company operating after an incident such as a natural disaster interrupts business operations. 

Consult With Us

Are you in search of the best commercial insurance solution for your company in Richmond, VA. We can provide you with a quote on a policy at Bacon Insurance Group. Call us today to learn more about our insurance options!

Does Commercial Insurance Include Worker’s Compensation?

What is commercial insurance and why do you need it? Most employers need financial protection for a variety of situations, from property theft to personal injuries. Commercial insurance will pay for unexpected events, including property damages, income losses, or employee lawsuits. A decent commercial insurance package should cover the employer in the event of a worker’s compensation lawsuit. Bacon Insurance Group can help you navigate this important coverage.

If you’re a Richmond, VA business owner, here’s what you need to know about commercial insurance and how it covers worker’s compensation.

Why Would a Worker Sue an Employer?

In the case of worker’s compensation, the employee is suing the employer over a work-related injury or illness. A workplace injury could be anything from a manual labor accident to a motor vehicle collision. If the injury happens on the job, then the workplace owners can be held legally responsible for neglectful or malicious management. When a worker’s compensation claim does come up, the worker might decide to sue the employer in a court of law; this tends to happen when the worker feels that he or she is entitled to more financial compensation. 

If you’re a business owner who operates a risky venture, then it’s recommended that you purchase an insurance plan that covers worker’s compensation. This kind of claim is somewhat common for workers, especially if they do physical labor on the job. 

Does Bacon Insurance Group Cover Worker’s Compensation?

Yes. Our insurance agency provides a wide range of services, including comprehensive commercial insurance for business owners and employers. If you want an insurance policy that covers worker’s compensation, then feel free to contact us for more information. Our team would love for you to schedule an appointment with one of our experienced agents in Richmond, VA. 

Should Those Who Are Self-Employed Obtain Business Insurance?

At the Bacon Insurance Group, serving the greater Richmond, VA area, we have seen that more and more people are branching out and starting their own side businesses or full-time businesses. Technology and the Internet are making it easier than ever to operate your own business, directly from your home. One of the questions that we are often asked is whether those who are self-employed should obtain business insurance. We are here to assist with all your queries.

Should Those Who Are Self-Employed Obtain Business Insurance?  

If you have a business of any sort, regardless of whether it is a small business run by one person or a large business run by multiple people, it is strongly recommended that you purchase business insurance. Business insurance can help to cover the tools you use to operate your business, including computers and your products or merchandise.

Business insurance can also help to protect you against a lawsuit that you may face during the course of operating your business. If you accept payment for any goods or services, then technically you are a business. As such, you should be insured as a business to protect the time and money you have invested into your business. 

Contact Us Today

The Bacon Insurance Group, providing business insurance products to those located in the greater Richmond, VA area, strongly recommends that all business owners, regardless of how small or large they are, obtain business insurance to protect their business. Our team of knowledgeable insurance agents can help you to select the business insurance products that are ideal for your needs. Reach out to us today and let’s help you find the right business insurance products based on your specific insurance needs. 

Commercial Insurance FAQs

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. 

How To Avoid Small Business Risks

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. 


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