If you run a business in West Virginia, there may be a couple of insurance policies that you are required to have, depending on your specific company. There are two types that are mandated under certain circumstances, so it’s best to know what they are and whether they pertain to your business. If you need commercial insurance, give us a call today at Mutual Insurance Partners in Follansbee, WV.
Two Types of Required Commercial Insurance
Workers’ Compensation Insurance
Accidents happen in the workplace, and when they do, they can be highly expensive. Employees who have an accident and are injured may have a lot of bills afterward, including their medical bills and legal costs. They may also require disability payments. All of these are covered by a workers’ compensation insurance policy. It will pay for all of these things so that the money won’t have to come from your business.
In West Virginia, this is required if you have one employee or more, and they can be either part or full-time. If you hire an independent contractor, this insurance is not required. If this insurance is required for you, be sure to get a policy right away for your own protection.
Commercial Auto Insurance
If your West Virginia business owns a vehicle, you are required to have a commercial auto insurance policy. This insurance pays for any damages that are caused to others in an accident that is the fault of your vehicle’s driver. When this happens, and there are injuries and property damage, this insurance pays for those bills up to its payout limit. Both bodily injury and property damage liability have to be in these policies, but you can add others to your policy as well if you choose.
We Are Here To Help!
To keep your business compliant with the law, you may need one or more commercial policies. Call us at Mutual Insurance Partners in the greater Follansbee, WV region.
