Category: Commercial Insurance

Home-based businesses are increasingly popular choices for those who have a small business. Not having to pay for rent is a great saving. At Gantt Agency in Farmville, VA, we have 8 offices and one of them is likely to be convenient for you to visit or call. We have been growing since 1988 and our team has the knowledge and experience that you look for in an independent insurance agent. 

Simply stated, yes, your home business does need commercial insurance. The fact is, your home insurance is not designed to protect a business, and it can either not cover or have very limited coverage for your business. 

Why Commercial Insurance?

Property insurance

If your property insurance covers any business property, it will be very limited. You could lose all your tools, inventory, office equipment and other things that you use to conduct your business. Having commercial property insurance will protect your business assets when you have them in your home or in your vehicle. 

Liability insurance

Getting sued as a small business is almost a certainty and if you are counting on your home insurance liability to protect your business you will be disappointed. Home insurance will not cover you. If you have customers or clients visiting your home and they are injured, you will be on your own. If a client sues you, you are out of luck. 

Auto insurance

If you are using your personal vehicle for business, you are taking a very big risk. Your personal auto insurance does not cover business use. If you have an accident you could find yourself with a lot of uncovered damage. You could be sued for injuries and damage and that could be very expensive. 

Give Us A Call

Contact Gantt Agency in Farmville, VA when you are in need of commercial insurance information. 

If you are trying your hands in business, you must be open to the fact that you have to contend with various risks present in the business environment. Your business is never short of risks from liability claims, fires, and theft to natural disasters. While there are several risk mitigation strategies you can devise, don’t forget about commercial insurance from Gantt Agency in Farmville, VA. Business insurance restores your financial position when perils strike.

But since commercial insurance has numerous policies, you may be confused about the ones you should consider for your business.

Here are must-have commercial insurance policies:

Worker’s comp insurance

If you have more than two employees in Virginia, the law requires you to purchase workers’ comp insurance. This coverage pays for hospitalization costs, ongoing care, and partial loss of wages for the injured employee.

General liability coverage

Regardless of the nature of your business, it’s exposed to liability claims like bodily injury, property damage, libel, slander, and other liability claims. Liability coverage covers the legal hassles when accused by third parties.

Property insurance

Business assets like buildings, computers, furniture, and inventories are susceptible to losses and damage. Perils such as smoke, fire, natural disasters, and vandalism may damage your assets, resulting in significant financial losses. Invest in property insurance to compensate when faced with damage or loss of your assets.

Professional liability insurance

If you provide services, you had better invest in this coverage. This policy protects you when sued for negligence, missed deadlines, and incomplete work by your consumers.

Cyber liability insurance

The proliferation of cyberattacks means you need to protect your business with cyber liability insurance. This coverage cushions you financially by covering PR, notification, and legal costs after a cyberattack. Ready to invest in commercial insurance in Farmville, VA? Please get in touch with Gantt Agency for an affordable quote.

Owning a business comes with a lot of responsibility. One of those obligations is worker’s compensation. Here at the Gantt Agency, we believe that business owners in the Farmville, VA area need to understand their options when it comes to workers’ comp policies. If it’s time to review your current policy, give us a call today.

Understanding your company’s worker’s comp policy

If you are a decision-maker within your company, it’s important to understand your firm’s insurance portfolio. This includes your worker’s comp policy. This type of insurance protection can help you from catastrophic expenses if an employee is injured on the job. Not only do you want to ensure that your coverage levels are adequate, but you’ll also want to check that your policy protection is comprehensive. Having the right protection at the appropriate levels can help you weather most unfortunate situations successfully!

Worker’s comp insurance is in place to protect both you and your workers. As your company grows and changes, so too will your insurance needs. We recommend an annual review to ensure that your policy is keeping pace with your company’s growth. Conversely, if you are getting the job done with fewer employees, you will want to adjust your policy coverage accordingly. Let us help you protect your hard work. As today’s work environment continues to change rather substantially, shouldn’t your insurance also adjust?

Call us today to schedule your review

The entire team here at the Gantt Agency is ready to help you with all of your commercial insurance needs. Contact us today to set up a consultation to review your Farmville VA business’s worker’s comp policy.

It can be incredibly exciting to be a business owner. For many reasons, it can also be stressful. Let insurance take some of this stress away by getting your and your business covered against potential financial and emotional burdens.

Gantt Agency in Farmville, VA provides commercial insurance for businesses from small to large. You can discuss commercial insurance with one of our agents if you are a person living in the state of Virginia.

Situations you want commercial insurance for

Your business will need to be insured for a lot of things. This can feel like a minefield, but it gets easier if you imagine some situations your business should be insured for. Some of these are listed for you below: 

• Ensure your business has liability insurance. Imagine the following: you own a factory, and one of your employees is involved in a horrific factory accident that requires a ton of medical attention, and thereby, costs. Liability insurance can help cover these costs, but it can also help you in case this employee decides to sue your or your company. At the same time, if you don’t own a factory, don’t think you don’t require liability insurance. Someone who slips and falls in an office building can still sue their company, and liability insurance can still cover you for that. 
• Commercial property insurance; is again relevant to both office buildings and factories, or even retail and gyms. Whatever it is, make sure your business location is insured in case of things like fires and floodings. 

Gantt Agency in Farmville, VA is happy to help you today to work through your commercial insurance quotes. Call us today or request a quote online.  

Worker’s Compensations Frequently Asked Questions

As a business owner working in and around Farmville, VA, you’re required by law to carry worker’s compensation insurance, and the Gantt Agency can help! But what exactly is worker’s compensation and what does it cover? Is there any way to lower your premium? What happens if you’re not covered? We answer all your pressing questions below:

Top 5 Worker’s Compensation Questions

Worker’s compensation is a necessary business expense that can protect employers and employees from financial loss resulting from a wide range of events, including moving and handling equipment, falls, car accidents, and more. It’s important to fully understand this insurance and to make sure you’re adequately covered. 

Who Needs Worker’s Compensation Insurance?

While a couple states make worker’s compensation optional, it’s required by law in most states, including Virginia. The Virginia Worker’s Compensation Act requires all businesses with at least three or more regular part-time or full-time employees must carry worker’s compensation insurance. This means that if you run a family business and you and your spouse are the only employees, you may not have to have coverage. Likewise, if you hire only freelance employees, you may be exempt (Or, you may not, depending on who is controlling the work and where the work is performed. If the work is performed onsite, it’s best to have worker’s comp even if your workers are designated 1099 contractors.) 

In most situations, if you hire anyone else for any reason, including seasonal and temporary employees, you need to have worker’s comp. 

What’s Covered by Worker’s Comp?

Worker’s compensation is a mutually beneficial policy that protects employees from financial loss while protecting employers (you) from liability. Worker’s compensation insurance can help cover medical bills, lost wages, ongoing care and treatment, legal expenses related to lawsuits, settlements for employee injuries, and even funeral costs in the unfortunate event of death as the result of a work-related accident or illness. 

What’s Not Covered by Worker’s Comp?

While worker’s compensation is designed to be a catch-all policy that covers a wide range of accidents and other events, there are a few specific circumstances that may be excluded from your policy. These include accidents that result from worker intoxication, injuries resulting from a fight an employee started, and intentional injuries (ie insurance fraud.) For a full list of excluded events, check with your insurance agent. 

How Do I Know How Much Worker’s Compensation Coverage I Need?

Your insurance agent can help you tailor the right coverage for your business. Factors that affect your desired coverage limits and your premium include the number of employees you hire and the type of work you do. A small office with six employees will have much lower coverage requirements than a manufacturing plant doing heavy industrial work with sixty employees. 

How Do I Get a Worker’s Compensation Policy? 

The best way to get a worker’s compensation policy that’s accurate and adequate for your business operations is to work with a licensed and registered insurance agent. The commercial insurance specialists at the Gantt Agency will work with you to customize a policy and have your Farmville, VA business protected in no time. 

Need a worker’s compensation policy? Contact us and get started today! 

When you own a small business, many different insurance policies can come in handy. However, very few are mandatory. Many other policies are recommended for business owners to give themselves better protection against lawsuits and other costs. If you need commercial insurance in Virginia, call us at Gantt Agency in Farmville, VA today.

Workers’ Compensation

This is an insurance type that is required for most small businesses in Virginia. If your business has two employees or more, state law requires that you cover them with workers’ compensation insurance. This covers illnesses and accidents that happen to your employees at work. If you don’t have this coverage, you can face fines and fees that result from not having the proper insurance. If you don’t have this coverage, you are also open to lawsuits from anyone who gets sick or becomes injured at work. It even pays for the lost wages of your employee if they are unable to work due to their injury or illness. 

Commercial Auto

With this type of insurance, a vehicle owned by the business is covered in case of an accident that injures people and/or causes property damage. In most cases, a personal auto insurance policy will not pay out if the accident happened during the business’s course. With a commercial auto policy, your liability to both cars and people is covered when the vehicle is used for business tasks. 

Get Your Commercial Auto Insurance Policies

If you meet the criteria for commercial insurance coverage, but your business doesn’t yet have it, you could be fined or cited. And even worse, you could become liable for a serious accident that you weren’t insured against. If you need a commercial policy, contact us at Gantt Agency in Farmville, VA.

The Farmville, VA area continues to grow and offers a lot of opportunities to small business owners. If you are going to start a business in this area of Virginia, getting proper insurance coverage for your company is very important. One type of insurance that you will need to have is commercial coverage. There are several scenarios in which someone should get a commercial insurance plan for their business.

Those that Invest in Business Assets Need Coverage

A situation when you will want to have a commercial insurance plan is when you invest in business assets. Many businesses will require an investment into some core assets to get their company moving and off the ground. Those that choose to get a commercial insurance plan will receive the coverage they need to protect these assets. With proper coverage, you will be protected if the assets are stolen or otherwise damaged.

Those that Want Liability Coverage Need Coverage

You will also want to get a commercial insurance plan if you want liability protection. There is always a risk that a small business could be named in a liability claim. If this happens to you, it could be very detrimental to your company. Thus, you must get a commercial insurance plan that will offset this risk by providing liability coverage. 

If you want to get a commercial insurance plan in the Farmville, VA area, it would be wise to call the Gantt Agency. The team with the Gantt Agency understands how important commercial coverage is. They can offer you the guidance needed to assess your insurance needs and pick a plan properly. This can help to ensure your business stays properly covered in the future.

Owning a commercial garage in Farmville, VA is a great way to make a living. There continues to be a demand for the services that garage owners can provide, which means you will always have a flow of customers. If you would like to own a garage here, you also need to make sure that you protect your company with insurance and liability. There are a few reasons that you should get a garage insurance policy. 

Coverage for Accidents in Garage

When you own or operate a commercial garage, there will always be a lot of activity that includes using machinery and moving items around. This activity could lead to accidents where someone gets hurt. Fortunately, when you get a full garage insurance policy, you can mitigate this risk by getting appropriate liability protection. 

Coverage for Lost Items

A garage owner may use the space to store products for clients. If you are storing cargo or products in a commercial garage, you will take on some liability for these items. When you get a proper insurance plan, it will offer you the coverage that could be used to mitigate this risk. This could be very helpful if there is ever a fire or theft that results in a loss of customer assets. 

If you are looking for a garage insurance policy and are in the Farmville, VA area, it would be good to call the Gantt Agency team. Many important choices and factors need to be considered when looking for garage insurance. The Gantt Agency team will help you understand your options and build a policy that provides ample coverage. This can help to ensure you remain properly protected at all times. 

If you own a business in Virginia and have three or more employees, part-time or full-time, you must obtain worker’s compensation insurance. The agents at the Gantt Agency in Farmville, VA have the experience and knowledge it takes to guide you in creating a policy that works for you and your employees.

Workers’ Compensation for Virginia Business Owners

Virginia law regarding worker’s compensation was put into place to ensure that businesses’ employees are covered if they suffer an injury while on the job. You will need workers’ compensation insurance for all of your employees if you have three or more to ensure medical bills are paid, along with their lost wages, while they are off work due to an injury they sustained while on the job.

Workers’ compensation insurance will also help you and your business to avoid being sued in a civil lawsuit due to an employee being injured on the job. The employee will receive compensation for their wages to pay their bills while they are healing and recuperating from the injury they sustained while working at your business.

In Virginia, you do not only have to count the number of part-time and full-time employees who work directly for workers’ compensation. You must also count any subcontractors who work for your business. For example, if you only have one employee, you would not be required to have workers’ compensation insurance. Still, if you have one employee and three subcontractors working for your business, you must include the subcontractors in the total number of employees for workers’ compensation purposes.

To obtain the proper workers’ compensation policy for your business, contact the trusted agencies at Gantt Agency in Farmville, VA.

When Virginia entrepreneurs open their doors, they are embarking on an exciting journey that is not without risks. Indeed, there is a great deal of uncertainty with any business opportunity, but that does not mean you need to go out into the market with no protection. Commercial insurance from Gantt Agency can protect your company, so you can concentrate on building your business and expanding your services to include an even greater market share in Farmville, VA.

Call the Virginia Insurance Team You can Trust

While no two business owners have the same needs and concerns, all companies need basic insurance policies designed to protect against asset loss, damage, or liability. As such, it is important to sit down and discuss a commercial insurance policy that is designed to protect your business specifically. From vehicle fleet insurance to real property to inventory stocks, a lot is riding on having the commercial insurance you and your company need should the unexpected occur.

Our team is standing by to listen to your concerns to craft a better policy that will not only help you protect your Virginia based business but will give you the security to continue building your business for years to come. You probably have questions regarding the best possible insurance coverage for your business, and we have the answers, so you can make the informed decision designed to help make your business thrive.

Contact our Team at Gantt Agency for Your Commercial Insurance

Business owners have a lot on the line, and commercial insurance is designed to help you weather adverse conditions, whether caused by natural causes or just a routine accident that can strike at any moment. Serving the Farmville, VA business community, Gantt Agency understands the needs of business owners, and we look forward to meeting you to find an insurance policy that fits your company’s needs, so to contact our friendly and knowledgeable team for a free, no-obligation quote.