Owning a business is very stressful and often risky.  Almost 20% won’t survive the first year, and almost 50% won’t make it to 5 years. This is pretty dismal. Having the right types of commercial insurance can help to mitigate those risks to some extent. At Parr Insurance Services in Lynchburg, VA, we have been serving the people of Central Virginia for 30 years. As independent insurance agents, we can offer our customers more choices and find the best possible rates. 

Coverage that most businesses can benefit from

Property Coverage

Business property coverage is not like home insurance. It doesn’t just cover the physical structure of the business, it also covers the things that you use to do business. Depending on your business type, this can include machines, office equipment, display units, inventory, raw materials, and so much more. Being able to rebuild your business after a disaster is important. 

Liability Coverage

Liability coverage is one of the most important types of insurance for your business. Many businesses don’t survive and being sued is all too common. Most businesses can expect to be sued, maybe even more than once. If you don’t have this coverage, it could devastate your business. 

Workers Compensation Coverage

In the state of Virginia, if your business has two or more employees, it is required that they be protected with workers’ compensation insurance. The rules for employees are quite expansive, including full-time, part-time, seasonal, temporary, and even family members. 

Commercial auto insurance

If your business owns any vehicles, they should be covered by commercial auto insurance. Many insurance carriers won’t cover the business use of a personal vehicle, so relying on your auto insurance is risky.

Give Us A Call 

Contact Parr Insurance Services in Lynchburg, VA to discuss all your commercial insurance needs.