FROM OUR PARTNERS
The importance of business insurance for West Virginia small business owners and large corporations can’t be overstated. From ensuring your financial well-being to protecting your livelihood, adequate coverage is critical. Unfortunately, it can be hard to know what coverage you need and get the best rates. To help you get started, We’ve evaluated the best business insurance providers based on coverage, financial stability, customer satisfaction, and overall quality.
Simply Business provides insurance policies for a range of professions and small businesses.
For more than 200 years, the Hartford Insurance helped over 1 million businesses just like yours.
Coverwallet began its journey in New York City in 2015 operating under the Aon Insurance banner. At Coverwallet, you can access everything you need to keep your company well-protected at an unbeatable price.
Next Insurance leverages AI technology to streamline the process to purchase insurance, track claims, and manage policies at no additional cost.
With a 100-year history of insuring businesses, Hiscox is well-known across America and globally. With more than 500,000 small business customers, Hiscox is fully aware and trained in the unique risks a business can face.
Thimble provides business insurance that can be tailored to your business by the year, month, day, or even the job. At Thimble, the process to getting the right business insurance is simple, scalable, and flexible.
The minimum business insurance requirement for any business owner in West Virginia is general liability insurance. It’s a commercial insurance policy that protects you and your business from third-party claims of bodily injury, property damage, and personal or advertising injury.
Workers’ compensation insurance is another policy required by law if you have employees. The state’s workers’ compensation requirements mandate any business with at least three employees carry this coverage, regardless of whether they are part-time or full-time workers. The only exception is domestic employees who work less than 20 hours a week.
There are several types of business insurance available, namely:
General liability provides coverage for bodily injury and property damage caused by your products or services. It also covers your legal defense costs if customers or visitors sue you to your locations. This type of insurance is important for any business that comes into contact with customers or the public.
General liability insurance excludes property damage that you cause. If you own a construction company, your general liability insurance will not cover the cost of repairing a garage that you accidentally destroyed while re-roofing.
This type of insurance provides coverage for medical expenses and lost wages for employees who are injured or become ill on the job. It also provides coverage for legal expenses if an employee sues your company over a job-related injury or illness, such as carpal tunnel syndrome from repetitive motion injuries.
Exclusions:
Seasonal workers who work less than 30 days a year, certain agricultural employees, and domestic workers, like nannies or maids, are often excluded from coverage under workers’ compensation policies.
Professional liability is an important part of many businesses’ insurance portfolios, especially in medicine, law, and accounting, where there is a high risk for lawsuits alleging professional negligence or malpractice. This type of policy covers your legal defense costs when a customer sues you over a mistake you made while providing professional services to that customer, even if their lawsuit is unsuccessful.
Professional Liability excludes Intentional wrongdoing or damage by the professional and claims arising from errors, omissions, or negligent acts that happened before the policy was purchased.
covers your building and its contents in the event of a covered loss. This includes everything from your building, equipment, furniture, and inventory, to computers and other business property.
Commercial Property insurance excludes losses caused by earth movement, including earthquakes and volcanic eruptions. Losses caused by surface waters (flooding). And Losses caused by building or structure collapse.
covers your business autos and the vehicles you use to transport goods, equipment, or employees. Whether your company uses company-owned vehicles or reimburses employees for using their vehicles while conducting business, Commercial Auto insurance can help protect your business from liability arising out of car accidents.
Commercial Auto insurance excludes coverage for bodily injury or property damage arising out of the ownership, maintenance, use, or entrustment to others of any auto, aircraft, or watercraft owned by you.
Here are some of the most common things insurers will take into account when putting together your quote:
Here are tips that can help you find the best business insurance for your needs:
