"Your Full Service Insurance Solution"
"Your Full Service Insurance Solution"
Your Business Is Your Dream. Ensure You Protect it. Don’t get stuck in a rut searching online for ” Business Insurance Chesterfield VA ” – not everything you read will meet your business insurance needs! Insurance & Financial Services will breakdown the facts and provide you the resources you need to understand business insurance and help you make the best choice, for the best price.
As a business owner, you want to rest assured that your hard work is protected in the event of loss. Partnering with Insurance & Financial Services to handle your business insurance coverage needs can keep you focused on your business. Insurance & Financial Services offers several options for business owner’s protection and we have the resources to customize a tailored Business Owners Policy (BOP) for your business.
One package purchased by small and mid-sized businesses is the businessowners policy (BOP). Package policies are created for businesses that generally face the same kind and degree of risk. Larger companies might purchase a commercial package policy or customize their policies to meet the special risks they face.
BOPs do NOT cover professional liability, auto insurance, worker’s compensation or health and disability insurance. You’ll need separate insurance policies to cover professional services, vehicles and your employees.
If your business services include offering professional advice to clients on legal matters, tax and accounting, medical, or other topics, you will be required to have a separate policy. Generally, carriers require businesses to have a General Liability insurance policy before they will issue a Professional Liability insurance policy.
If we determine your business does not qualify for a BOP, we will tailor a Commercial Package Insurance Policy (CPP) with the options that protect your business.
Commercial Package Policy can be customized to include almost any type of coverage offered, such as property, liability, commercial auto, crime, inland marine and professional liability.
Most CPPs offer expanded coverage endorsements that will increase the base current coverages for lower premiums than purchasing each coverage separately. Property insurance coverage protects small business owners from losses of damage to physical space or equipment and as a result of theft. For insurance purposes, a business’ property includes the physical building in which it resides, as well as its other assets.
Examples of Commercial Property:
Business Property Insurance Replacement Value
With property insurance, you can select actual cash value or replacement cost insurance. Actual cash value reimburses you for the value of lost, damaged or stolen goods after depreciation is taken into consideration. Replacement cost insurance reimburses you the amount it would take to replace, rebuild or repair damages with materials of similar kind and quality, without deducting for depreciation.
Three Levels of Property Insurance Protection
If you drive a vehicle for business purposes, the vehicle must be covered under a commercial policy. Personal Auto Policies will not cover incidents that occur while operating a personal vehicle for business purposes.
All motorized vehicles, whether used for personal or business purposes, need auto insurance. Several factors related to ownership and use of vehicles determine whether a personal or commercial policy is appropriate. These include:
Commercial Autos include Vans, Tractor Trucks, Box Trucks, Taxis, Trailers, and more. While the types of coverage provided by personal and commercial auto insurance policies are essentially the same, there are important distinctions. Typically, commercial auto insurance policies have higher liability limits. They also may have provisions that cover rented and other non-owned vehicles, including employees’ cars driven for company business.
IFS agents will discuss these matters with you and make the best decision based off of your needs for collision and comprehensive coverage to protect yourself against damage to your vehicle.
Located in Midlothian Virginia, we’ve proudly insured our neighbors with quality strategies for nearly three decades. Whether you’re in the market for an auto insurance policy for the family car, an individual health insurance plan because you’ve started your own freelance business, or you’re interested in a fixed annuity to help supplement your eventual retirement income, at Insurance and Financial Services, we have the resources to provide the solutions you seek.
Insurance and Financial Services is growing! We are dedicated to strengthening our foundation as an insurance and financial services provider through continual growth and development. In 2017, we added joined the Smart Choice Agents Network to provide many new carriers and markets. This Smart Choice partnership has allowed us to broaden our service markets.
A few Insurance Companies we represent include: Anthem, Blue Cross Blue Shield, BTIS, CNA, Dairyland, Dovetail, Foremost, Grange, Hagerty, Liberty Mutural, Mercury, MetLife Auto & Home, NetComp, Safeco, Starr DoveTail, Tapco, The Hartford, and many more.
Insurance and Financial Services provides Chesterfield Business Insurance to distinct communities within Chesterfield County Virginia including:
Bel Bridge, Bel Crest, Belmont, Bermuda Hundred, Bexley, Bon Air, Brandermill, Brandermill, Charter Colony, Chesdin Landing, Chester, Chesterfield, Collington, Colonial Heights, Courthouse, Deer Run, Enon, Ettrick, Fort Lee, Founders Bridge, Fox Creek, Genito, Gordon, Hampton Farms, Harrowgate, Hening, Highlands, Hopewell, Jefferson Davis North, Magnolia Green, Manchester, Matoaca, Meadowbrook, Midlothian, Moseley, Petersburg, Prince George, Reeds Landing, Richmond, Robious, Rockwood, Salisbury, South Rockwood, Spring Run, Summer Lake, Summerford, Winterpock, Woodlake, and Woodland Pond.
In addition to Chesterfield Virginia, Insurance & Finanical Services provides Insurance Services & Insurance Products to residents and businesses in Amelia, Chester, Colonial Heights, Fort Lee, Prince George, Hanover, Henrico, Hopewell, Machanicsville, Manchester, Petersburg, Powhatan, Richmond, and surrounding areas.
Click here for the Glossary of Insurance Terms and Definitions that are commonly used in the insurance business.
The definitions in this glossary are developed by the NAIC Research and Actuarial Department staff based on various insurance references. These definitions represent a common or general use of the term. Some words and/or phrases may be defined differently by other entities, or used in a context such that the definition shown may not be applicable.
The National Association of Insurance Commissioners offers a complete Insurance Term Glossary for consumers.