Virginia Beach Business Liability Insurance

Virginia Beach business liability insurance will cover your company for most third-party claims, but it will not cover you for internal claims made within the office. In other words, if one of your employees brings a lawsuit against you or the company, your general Virginia beach business liability insurance will not cover you. So, if you have employees, you probably want to get employment practices liability insurance or EPLI, to protect you from such claims.

If you choose a trustworthy the Virginia Beach business liability insurance agent, he or she can help you figure out what policies you need for your company. For example, you may need product liability insurance, errors and omissions, or a commercial auto policy. Also, in addition to liability insurance, you probably need property and casualty coverage. Again, a good agent can help you determine what you need and choose a high-quality insurer.

EPLI for Your Virginia Company

Virginia Beach business liability insurance protects you against claims related to advertising injury, property damage, or personal injury. So, if someone falls on your staircase and sues your company, your covered. However, those claims must come from third parties. If an employee sues you, another employee, the company, your Virginia Beach business liability insurance is null.

Employees sue for all kinds of reasons. Harassment, wrongful termination, and emotional stress, for example, may cause an employee to bring a lawsuit against your company. Even if these claims are meritless, basic Virginia business liability insurance will not protect you or your company from internal problems. Luckily, employment practices liability insurance, or EPLI, will cover you from claims filed by employees.

Also, if an employee acts wrongly unbeknownst to the company, EPLI will defend the company. In other words, while EPLI doesn't cover intentional injuries caused by the company, it will cover intentional injuries caused by the employees. Of course: it will only covers such cases if the company doesn't know about the activity of the employee.

You will want to look at your Virginia Beach EPLI policy rather closely, because it may contain unexpected exceptions. For example, a hammer clause requires you to settle even meritless claims, which Virginia insurers may add to avoid paying high legal fees. A Virginia Beach business liability insurance agent can help you sort out the jargon and choose a high-quality policy that works for you.

Choosing a Virginia Beach Agent

When you're looking for Virginia Beach insurance agent, use your intuition. You want to choose someone who listens well, and has a good track record. Basically, you want to choose someone you like. Unfortunately, some VA agents are a lot like salesmen, and you may be fooled by their talkative, charming demeanor.

There are some agent scams you should be aware of in Virginia. For example, some agents will try to sell you more coverage than you need in order to get a higher commission. Obviously, over-insuring means unnecessary expense for your business, so you want to avoid falling into that trap. Of course, not all Virginia Beach agents are guilty of this offense, and if you do your research, you can choose someone trustworthy.

Additional Policies to Consider

You probably know that Virginia Beach business liability insurance won't cover many of the specific needs for your business. CGL, or commercial general liability, won't cover you for many particular incidents, nor will it cover you in the case of a natural disaster. You may be one of the lucky businesses that only needs CGL, but such companies are a very small percentage.

EPLI is just one of many examples of policies you may need in addition to your CGL coverage. Another is malpractice, also know as errors and omissions. If your Virginia Beach, VA business involves offering advice, designing buildings, or anything else that may involve professional error, you probably need malpractice coverage.

If your Virginia Beach business is manufacturing or selling products, you need protection from lawsuits related to your product. To clarify: Virginia Beach business liability insurance won't cover you for lawsuits related to your product or professional mistakes. In addition, if your work involves driving, you probably need a commercial policy, too.

Furthermore, these are just the policies related to potential lawsuits. What happens if your building burns down? You need protection for your property and assets. You may be able to get a business owner's policy or BOP, which will include property coverage and protection from third-party claims as well.

Talking to Virginia Beach business liability insurance agent can help you sort out all the different potential policies. Protecting your company is not as straightforward as you might think. There are lots of little details, as well as bigger concerns, to take into consideration. Fortunately, an experienced agent can greatly simplify the whole process for you.

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