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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. 

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 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.