In West Virginia, most businesses are required to have two different types of commercial insurance. Both of them are protections both for third parties and for the companies themselves. If your business needs commercial insurance to stay on the right side of the law, contact us at Smith Insurance Agency of West Virginia in Kingwood, WV to find out more.

Workers’ Compensation

This type of insurance is required of nearly all businesses in West Virginia. The law states that if a business has at least one employee, even if that employee is only a part-time worker, the company must have workers’ compensation insurance for that employee. If you have workers who are independent contractors, they are exempt from this rule. Workers’ compensation coverage pays the medical bills of those who get sick or get injured while at work. 

Commercial Auto Insurance

When your business owns a vehicle, it is required to have a commercial auto insurance policy. The state has a set minimum amount of bodily injury liability coverage that you must have for one person who becomes injured. It mandates another amount that must be kept for all of the bodily injury liability from all third parties injured. There is also an amount mandated to have for property damage liability, which pays for vehicle and/or building damage done by the company vehicle. In addition, the state mandates that you must have a set minimum amount of insurance to cover an uninsured motorist for each person that is injured in an accident that is the other party’s fault. 

Get Your Commercial Insurance

If you are a business owner in West Virginia and you don’t have the commercial insurance coverage you need, call us at Smith Insurance Agency of West Virginia in Kingwood, WV to talk with an agent about the insurance your business needs.