West Virginia (WV) Business Insurance

Choose The Hartford for Your West Virginia Business Insurance Needs

The Mountain State is home to 114,391 small businesses, making up 98.9% of companies in the state of West Virginia in 2018. Those small businesses employ 280,213 employees. Small businesses in West Virginia are defined as businesses with fewer than 500 employees.¹ West Virginia small businesses have been protecting themselves with seguro de negocio from The Hundred for hundreds of years. Learn more about West Virginia seguro para pequeñas empresas, business income insurance and more from The Hartford.

Types of West Virginia Business Insurance Offered

West Virginia Business Owner’s Policy Insurance

A West Virginia Póliza para propietarios de empresas is a unique insurance policy that combines business property insurance and business liability insurance for your small business insurance needs. A Business Owner’s Policy, also referred to as a BOP, helps protect your business from the costs of damages from things like fire, theft, or other disasters. BOP coverage also helps your business cover the costs related to claims involving bodily injury, property damage, and personal and advertising injury that could arise from your daily business operations.

Consider a BOP if:

Your West Virginia business has the possibility of getting sued, including by a customer who is badly injured in your office or store.
Your West Virginia business has a physical location, such as your home, store, or another office space that is rented or owned.
Your West Virginia business has digital and/or physical property that can be stolen or damaged, digital hardware and software, tools, inventory, furniture, customer information, and other data.

West Virginia small businesses can tailor a Business Owner’s Policy to meet their unique business needs by adding additional insurance coverages, including data breach insurance, professional liability insurance, and more.

West Virginia Data Breach Insurance

Data breach insurance and cyber liability insurance helps cover the costs of a data security breach – depending on the level of insurance coverage selected. Data breach insurance can help cover the costs of legal fees, identity protection solutions, public relations, and more.

To minimize the risk of litigation and other penalties when a data breach or theft takes place, a cyber liability insurance policy can help small businesses connect with professional assistance to comply with applicable regulations and laws. A representative from The Hartford can help your West Virginia business find the cybersecurity insurance coverage that is best for your company.

Two ways data breach insurance helps protect your business in West Virginia are:

Helps prepare your business for a data breach. The Hartford provides services that assist companies in formulating a plan for a data theft or breach by helping make sure that proper security measures are in place before an incident takes place.
Quick responses when a data breach takes place. Companies must respond quickly to minimize the impact of a data security incident on their customers. Protection from The Hartford includes access to experienced breach response partners. These partners can help businesses meet their obligations. They can also help businesses communicate with those affected by a cyber threat, breach, or theft of personally identifiable information entrusted to the company.

West Virginia Workers’ Compensation Insurance

Workers’ Comp Insurance, also known as workers’ compensation insurance or workman’s comp insurance, provides benefits to employees of West Virginia businesses for work-related injuries or illnesses. Every employer is required to obtain workers’ compensation coverage in West Virginia for the protection of its employees.² Workers’ compensation insurance coverage includes medical care, help replacing wages lost when unable to work, and more. This protection can help cover legal fees if a worker’s family decides to sue your West Virginia business.

West Virginia General Liability Insurance

Seguro general contra terceros coverage, also known as commercial general liability insurance and el seguro de responsabilidad comercial, can help protect your West Virginia business from costs related to claims of bodily injury, property damage, and personal and advertising injury. General Liability Insurance provides coverage for damage to property belonging to others, customer injuries, and lawsuits. This insurance coverage can also help pay for medical expenses and legal costs if an incident leads to a lawsuit.

Commercial Liability Insurance typically includes coverage for:

Medical payments - to help defray medical expenses if someone is injured at your business.
Bodily injury - for claims that your business caused bodily harm or damaged property belonging to someone else.
Damage to rented property - if you rent property and it is damaged by lightning, fire, or an explosion.
Advertising errors - for claims of infringing copyrights in your business’s advertisements.
Reputational harm - for claims of libel, slander, wrongful eviction, malicious prosecution, violation of the right of privacy, and more.

West Virginia Minimum Business Insurance Requirements

If you are registering a new business, reopening an old business, or purchasing an existing business, in whole or in part, state law requires employers to obtain workers’ compensation coverage for its employees in case of workplace injury. If you employ even one person in West Virginia, except in infrequent circumstances, you are required by law to obtain workers’ compensation insurance coverage.

LLPs in West Virginia: A partnership can file as a registered limited liability partnership to limit the liability of its general partners. A general liability insurance policy of $1 million, which covers the partners and the partnership, must be carried at all times.³

Additional West Virginia Business Insurance Links

Reciba una cotización on Small Business Insurance for your business today.

¹ https://www.sba.gov/sites/default/files/advocacy/2018-Small-Business-Profiles-WV.pdf

² http://www.wvinsurance.gov/Portals/0/pdf/pol_leg/rules/wc/c-wc-rule-008.pdf

³ https://sos.wv.gov/business-licensing/Documents/StartingABusinessGuide.pdf