4 Ways Commercial Insurance Makes Your Business Better

Posted on December 20, 2023January 2, 2024 by admin

Commercial insurance makes your business better because it provides both protection and peace of mind for you, your employees, and your customers in Richmond, VA. It helps cover the costs of legal liability, property damage, workers’ compensation, data breaches, and other risks that come with running a business.

With commercial insurance from Bacon Insurance Group in your corner, you can reduce or avoid the financial impact of unexpected events. This allows you to focus on the core operational needs and goals of your business.

Some other benefits of this type of policy include:

It helps you attract and keep qualified employees: Nowadays, employees are looking for more than just a paycheck when they’re deciding where to lend their expertise. They’re also looking for an opportunity to get good benefits. It doesn’t hurt that they know they’re covered if something happens at work.
It enhances your credibility and reputation in the market: Having commercial insurance in place shows your clients that you’re serious about managing risks. It also conveys the message that you’ll protect your customers if any mishaps occur.
It protects you and other members of management. When you own or run a business, someone’s going to sue you. It’s inevitable. Commercial insurance will protect management from costly lawsuits.
It protects your business from natural disasters: No matter what state you live in, you’re going to experience some type of natural disaster. When or if disaster strikes, commercial insurance will provide financial protection if damage happens to any of your business possessions and other assets.

Consult With Us

If you’re a business owner in Richmond, VA, you need commercial insurance from Bacon Insurance Group. Our agents are ready, willing, and able to answer your questions about the different policies available to you. Contact us today to learn more.

Three Ways Home Insurance Protects You Financially

Posted on November 17, 2023November 30, 2023 by admin

Owning a home is a big responsibility. It’s important to be able to protect yourself and your home from a number of possible risks. To do this, you need a home insurance policy. It will protect you in a number of ways against high costs after something happens to or in your home. To get your policy, call us at Bacon Insurance Group in Richmond, VA to get started.

It Protects Your Home

There are many damaging events that can happen to a home. These may end up costing thousands for the necessary repairs. Your home insurance policy will cover many risks that can damage your home. If you didn’t have this insurance, you could face unaffordable repair bills or even the destruction of your home. Home insurance can pay for the repairs of covered events and even pay for it to be rebuilt if it’s destroyed.

It Can Replace Your Belongings

Just like coverage for the home itself, these policies also cover your belongings inside your home. When a damaging event happens, it’s often not just the home that gets damaged. When your items are ruined, your home policy can pay for those belongings to be replaced. This can be a huge savings when the unexpected happens and you have to replace expensive items. It’s never a good idea to go without this coverage.

It Covers Your Liability

Another huge expense can be the medical bills of someone who is injured in your home. Home insurance comes with liability coverage that will pay those bills after an accident with injuries. This is important financial protection just in case someone on your property is hurt.

Don’t Be Without Home Insurance

You need to have your home covered from the day you bought it until the day you sell it. To get your policy, call Bacon Insurance Group in Richmond, VA.

What’s the Difference Between a Death Benefit and Inheritance?

Posted on October 20, 2023November 1, 2023 by admin

Many people want to leave a financial legacy as they pass away. Our team of qualified insurance professionals at Bacon Insurance Group in Richmond, VA can help you find a life insurance policy that provides a death benefit that can make a major impact on the beneficiary’s life after your passing.

Whether you know you want to hold a life insurance policy or you’re on the fence about it, you should do your research to have a solid understanding of the difference between a life insurance death benefit and other forms of provision for your loved ones after you’ve passed.

What’s the Difference Between a Death Benefit and Inheritance?

When a loved one passes away and leaves their family members or friends with some kind of financial provision, it can relieve some of the burden for the family that comes with losing a family member. Even if you don’t have any family left or anyone whom you would like to receive an inheritance or death benefit, you might find that it can help you to have a semblance of peace as you face the transition from life to death to leave a legacy of a death benefit with your favorite charity or organization.

While an inheritance involves bequeathed assets that are laid out in a will or other official document related to estate planning, a death benefit can only be paid out if the person holding it has a life insurance policy.

Consult With Us

In short, a death benefit is paid out from a life insurance policy. Conversely, an inheritance is designated to the recipient in a will. An agent at our office could give you a better idea of more nuanced distinctions.

For more information, call Bacon Insurance Group in Richmond, VA today.

Are You Underinsured?

Posted on September 22, 2023October 3, 2023 by admin

If you own a vehicle you use to commute, you need to meet the legally required insurance for your state. However, meeting the legal requirement may not be enough to protect you from risks on and off the road. If you would like to learn about auto insurance protection, you can trust the professionals at Bacon Insurance Group to provide the residents of Richmond, VA with top-quality insurance products and services.

Auto Insurance Coverage

If you have a vehicle that’s financed, the finance company will require you to have full coverage auto insurance to protect you from losses. Depending on the value of your vehicle, you may need to increase from basic full coverage to fully protect your investment. There are a few different levels of insurance available with add-ons that prove highly beneficial.

The best way to choose the right level of coverage is to work with a professional insurance agent. They can assess your needs and provide you with recommendations for insurance coverage that meets your needs and doesn’t leave gaps. They can also assist you with the submission of your information to help get coverage right away. If there are changes to the policy or a claim, they can also help you.

Find Out More Today

Proper auto insurance protection is essential for every driver on the road. If you would like to learn more about the right auto insurance policy for your needs, you can count on Bacon Insurance Group to provide assistance and information about policy options. We take pride in offering the residents in and about the Richmond, VA area security and peace of mind that reliable insurance can offer.

Four things that your commercial insurance policy can do for you

Posted on August 24, 2023September 11, 2023 by admin

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!

Tips Preparing Your Finances for Homeownership

Posted on July 21, 2023August 9, 2023 by admin

Owning a home here in the Richmond, VA area is an incredible milestone. If you’re planning to make the leap into homeownership, it’s important to prepare your finances so that you can be successful in the long run.

Here are some tips from us at Bacon Insurance Group to help get you started on the right path:

1. Get organized

Make sure that all of your financial documents are in order, including bank statements, credit card statements, investment accounts, and other important information. It’s also helpful to track your spending habits and create a budget for yourself so that you can stay on top of your finances once you become a homeowner.

2. Understand what you can afford

Before purchasing a home, take some time to understand what kind of mortgage payment you can realistically afford by looking at your income and other expenses. This will help ensure that buying a house doesn’t put too much strain on your budget each month.

3. Save up for a down payment

Most lenders require borrowers to pay at least a 20% down payment when purchasing a house so it’s important to start saving up as soon as possible for this expense. Try setting aside money from each paycheck or using tax refunds or bonuses to work towards this goal.

4. Pay off debt

Before applying for a mortgage, try to pay down any existing debt such as credit cards or student loans if possible since high levels of debt could lower the amount of money you’ll be able to borrow from the lender.

We Can Help!

For more tips or to find an insurance policy to cover your new home, give us at Bacon Insurance Group a call today. We are proud to serve the Richmond, VA area.

Tips Preparing Your Finances for Homeownership

Posted on July 21, 2023August 9, 2023 by admin

Here are some tips from us at Bacon Insurance Group to help get you started on the right path:

1. Get organized

2. Understand what you can afford

3. Save up for a down payment

4. Pay off debt

We Can Help!

For more tips or to find an insurance policy to cover your new home, give us at Bacon Insurance Group a call today. We are proud to serve the Richmond, VA area.

Do Stay at Home Parents Need Life Insurance?

Posted on June 16, 2023June 27, 2023 by admin

At Bacon Insurance Group in Richmond, VA, we offer life insurance so you can protect your family. Today, we are here to answer the question, "Do stay-at-home parents need life insurance?"

The Purpose of Life Insurance

When you think about life insurance, you may think of it as a way to replace a family member’s income and cover final expenses. In fact, most life insurance experts recommend a policy that is at least ten times greater than your annual income.

However, if you are a stay-at-home parent, you aren’t bringing in an income. Does this mean that you don’t need life insurance coverage? The answer may surprise you!

Financial Contributions of a Stay-at-Home Parent

As a stay-at-home parent, you aren’t earning a paycheck. However, you do make a significant contribution to your family’s income.

Think of all the jobs stay-at-home parents do. They provide childcare. They often do the majority of household chores, including cleaning and laundry. They also perform errands, like grocery shopping and bringing the child to important appointments or events.

When you imagine hiring someone to perform all these tasks, the bill adds up very quickly.

How to Determine How Much Insurance a Stay-at-Home Parent Needs

The biggest financial cost associated with the loss of a stay-at-home parent is childcare. You’ll want an insurance policy that covers childcare expenses as long as your child or children will need it. Of course, if you have more than one child, this cost will be significantly higher.

We Are Here To Help

If you need life insurance in the Richmond, VA metroplex, contact us at Bacon Insurance Group. We offer life insurance policies to meet your needs and other types of policies to provide you with complete protection.

4 Ways to Get the Best Auto Insurance for Your Needs

Posted on May 19, 2023June 10, 2023 by admin

Getting the right auto insurance doesn’t have to be complicated when you work with trusted professionals who can give you options and information. If you’re in the Richmond, VA area, Bacon Insurance Group is here to help you get the auto policy that’s right for you. Then you can feel confident in the level of coverage you have and experience more peace of mind on the road.

Naturally, you want to make sure you’re meeting any legal requirements for coverage. State minimums are in place for a reason, to add a standard level of protection to everyone who drives on Virginia’s roadways. But many drivers want or need more than the minimum, and working with an agent makes it easier for you to decide the specifics of your policy.

If your vehicle is financed, for example, you probably need full coverage insurance. Deductibles for this coverage can vary, and your agent will have good information about what choice to make. You might also want to consider roadside assistance if you travel a lot or other types of auto insurance coverage that wouldn’t be typical or standard.

With that in mind, to get the best auto coverage for your situation, consider:

Knowing and understanding your current coverage, if any
Being aware of state minimums and any lender requirements
Looking into deductibles and limits, as well as add-on options
Working with an agent for the best options and opportunities

Even if you’ve done research on your own, an agent can still help guide you and talk through your policy options. Reach out to the Bacon Insurance Group today and get access to a variety of insurers serving the Richmond, VA area, so you can compare what’s offered and make a choice that fits what you’re looking for.

Does Commercial Insurance Include Worker’s Compensation?

Posted on April 11, 2023May 5, 2023 by admin

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.