Virginia (VA) Business Insurance

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Choose The Hartford for Your Virginia Small Business Insurance Needs

VA business insuranceSmall businesses helped Virginia’s unemployment rate in 2020 stay below the national average.1 The Old Dominion state has over 766,000 small businesses, making up 99.5% of all companies.2 These small businesses employ 1.6 million workers, making up over 47% of the state’s workforce.3
 
Small businesses in Virginia need business insurance for a variety of reasons. From claims of bodily injury or property damage to lawsuits, VA business insurance is important to have.
 
We’ve been providing small business insurance for over 100 years. We’re here to help you get the coverage you need to protect your business in Virginia.
 

Types of Virginia Business Insurance Offered

Virginia Business Owner’s Policy

A Business Owner’s Policy (BOP) is very convenient for small businesses. It combines three insurance coverages that many business owners need:
 
  • General liability insurance, or business liability insurance, helps protect your business from claims that it caused bodily injury or property damage to someone else’s belongings. Business liability insurance in Virginia can help protect your company from claims that come up during normal operations.
  • Commercial property insurance helps protect your owned or rented building, plus the equipment you use to operate.
  • Business income insurance to help replace your lost income if you can’t operate because of covered property damage.
A BOP is a good starting place for many small business owners. And because every small business is different, we’ve made it easy for you to customize your policy.
 

Commercial General Liability Insurance in Virginia

Commercial general liability insurance in Virginia can help cover claims of:
 
  • Bodily injury
  • Property damage to someone’s belongings
  • Personal injury, like libel or slander
This type of liability coverage can help if:
 
  • A customer slips and falls in your Richmond business and they sue you for medical damages.
  • Your employee is working at a client’s home in Charlottesville and they break a window and damage a wall.
  • A business owner in Williamsburg sues your company claiming the things you said in a news story damaged their reputation.

Virginia Workers’ Compensation Insurance

small business insurance RichmondVirginia businesses are required to carry workers’ compensation insurance, also known as workers’ comp. It gives your employees benefits to help them recover from a work-related injury or illness. These benefits can help:
 
  • Pay medical bills that your employee incurs because they got hurt or sick from their job.
  • Cover ongoing care, like physical therapy, if your employee needs more treatment.
  • Replace lost wages if your employee misses work to recover from their work-related injury or illness.
Workers’ comp in Virginia can help your business if your:
 
  • Employee in Richmond slips on water from a leaking pipe and needs to go to the emergency room for treatment.
  • Driver gets injured in a car accident while making a delivery in Roanoke and needs to go to the hospital.
  • Warehouse worker in Alexandria throws their back out while lifting heavy boxes and equipment, requiring physical therapy to recover.

Data Breach Insurance

Data breach insurance helps your Virginia business respond to a breach if personally identifiable information gets lost or stolen. Some insurance companies call this coverage cyber liability insurance.
 
If your business is a victim of a breach, it’s critical to respond quickly to reduce the impact. Data breach insurance can help pay for your costs to:
 
  • Notify impacted individuals
  • Create a public relations campaign to improve your business’ reputation
  • Offer credit monitoring services
You may want to consider getting data breach insurance if:
 
  • Your Virginia Beach business keeps confidential customer information stored on its computer system, like Social Security numbers.
  • Employees at your Chesapeake business save files with confidential information on a server.
  • Your Hampton business holds personally identifiable information that could get lost or stolen.

Virginia Commercial Auto Insurance

Virginia doesn’t require business owners to get commercial auto insurance, but it is helpful to have. The state has a financial responsibility law, requiring business owners to prove they can pay for losses resulting from vehicles used for business.4 You can do this by:5
 
  • Getting insurance coverage
  • Paying the uninsured motorist fee to the Department of Motor Vehicles
  • Getting self-insurance or surety bonds
Commercial auto insurance helps protect you and your employees on the road in Virginia if you use company-owned vehicles for business. If you or an employee cause an accident while driving for work, this coverage can help pay for:
 
  • Towing expenses
  • Rental fees
  • Downtime lost for employees
  • Vehicle damages
  • Glass repair
  • Legal fees
  • Medical expenses

What Is the Minimum Insurance Required in Virginia?

In Virginia, business owners have to carry workers’ compensation insurance, but commercial auto insurance isn’t required. The state does have recommendations on how much coverage to get if you decide to get car insurance. For example, your commercial auto policy has to have coverage for:
 
  • Bodily injury liability
  • Property damage liability
  • Uninsured/underinsured motorists

Do You Need Insurance in VA

Every business is different and has unique needs. Your specific insurance coverage needs can depend on your:
 
  • Industry
  • Number of employees
  • Value of assets
The Small Business Administration (SBA) considers the most valuable coverages to be:6
 
Not all insurance companies are the same. We’re an insurance carrier with over 200 years of experience. Our specialists can work with you to get the business insurance coverages you need. Whether you need to get a quote for small business insurance in Richmond or anywhere else in the state, we’ve got your back. Get a business insurance quote today.
 

Additional Virginia Business Insurance Links

 
 
2,3 US Small Business Administration Office of Advocacy, “2020 Small Business Profile: Virginia”
 
 
6 U.S. Small Business Administration, “Small Business Resource Guide: Virginia Edition 2020”
The Hartford shall not be liable for any damages in connection with the use of any information provided on this page. Please consult with your insurance agent/broker or insurance company to determine specific coverage needs as this information is intended to be educational in nature.
 
The information contained on this page should not be construed as specific legal, HR, financial, or insurance advice and is not a guarantee of coverage. In the event of a loss or claim, coverage determinations will be subject to the policy language, and any potential claim payment will be determined following a claim investigation.
 
Certain coverages vary by state and may not be available to all businesses. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc. listed in the Legal Notice.
 
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, CT. For additional details, please read The Hartford’s Legal Notice.
 
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