Category: Commercial Insurance

Preserving the condition of your restaurant equipment is essential. Consider the categories below. Then, consult with one of our Gantt Agency representatives about the coverage you need for your restaurant.

Risks

Operating a restaurant comes with risks. Fires, floods, acts of violence, vandalism, and theft could destroy expensive equipment. If restaurant equipment undergoes minor damage, you will be responsible for paying out-of-pocket costs.

Having access to insurance will reduce your financial responsibility. Inspect the inside and outside of your restaurant. This will help you determine the risk level that you will be facing.

For instance, if you own an older restaurant, failing to maintain the building could make it more likely that your place of business will be broken into. Once you determine your risk level, take measures to make your business setting safe and secure.

Inventory

Take an inventory of all the restaurant equipment that you own. Record information about the appliances, storage units, machinery, and other items that are needed to operate your place of business.

During this process, note any items needing cleaning or repairing. All of your restaurant equipment should be in operable order when you decide to insure it.

If you own any equipment that is especially valuable, make a note of it. You may decide to purchase more insurance coverage for these items. You can use your notes when you are reviewing different types of insurance coverage.

Contact Gantt Agency in Farmville, VA

The steps above will prepare you for a consultation with one of our agents who serve Farmville, VA. The agent whom you contact will advise you on restaurant insurance products that will be useful to you.

Even the smallest businesses in Farmville, VA with as few as one employee, may be required to carry workers’ compensation insurance. This is a long-established governmental policy that ensures workers can get compensation should they become injured while performing work-related duties. This coverage is paid for by the employer.

On the surface, this may appear only to benefit the employee.

First, you should understand that Gantt Agency can help employers seek out coverage that is compliant with what the law mandates. You should also be aware that workers’ compensation is more of a two-way street that is recognized by many.

Benefits For Employees

When an employee is injured while performing work-related duties and misses time from work due to the injuries, they can apply for workers’ compensation insurance. When injuries are verified, an employee can receive payments to compensate him or her for wages lost due to the injury.

This works as a buffer between the employee and employer and provides income until the employee can return. In some cases, these payments can be lengthy or even permanent.

For Employers

Workers compensation provides provisions that can protect a business owner from losing his business due to an employee injury. Since employees are compensated, they cannot sue a company for liability claims unless the company has been extremely negligent and the injuries are serious. As long as the company performs its due diligence in operating safely and in providing appropriate training, it can benefit from workers’ compensation insurance.

Gantt Agency Is Here To Help

Companies can lower their workers’ compensation rates by providing a safe environment that limits claims. The team at Gantt Agency can not only help with suggestions on maintaining a safe workplace but can also provide a workers’ compensation plan that can be effective and efficient for both you and your staff. Reach out to us and see what we can do for you.

Few businesses operate today without computers to pay bills, interact with customers and suppliers, and monitor competitors down the street or on the other side of the world. While computers and networks are invaluable tools, they expose businesses to potential cybercrimes that could halt their operations and harm their reputation. If you are in the Farmville, VA area and want to protect your company from the financial effects of cybercrime, our Gantt Agency team is ready to serve you.

What is Cyber Insurance, and Who Needs it?

Cyber insurance protects against cybercrime, which involves using a computer to steal information from others or limit the information owner’s use. Cybercrime is a potential problem for companies that store customer information or rely on computers, networks, and cloud-based platforms to run their business. If your business meets those criteria, you should consider the protection of cyber insurance.

Cyber insurance has three primary elements:

First-party: Covers the cost of investigating issues, notifying customers, and your lost revenues and ransomware payments.

Third-party or cyber liability: Despite being a victim, you may be responsible to others for attorney fees, settlements, and fines and losses others suffer due to the cyber incident.

Errors and omissions: Mostly needed by technology businesses, this coverage protects against losses others suffer due to faulty logic, code, or other issues among those using their products and services.

Some insurance companies require that you take specific preventive steps before they issue a cyber insurance policy, while additional preventive measures may lead to discounted premiums.

Have Questions? Consult With Us

The team of experts at Gantt Agency handles the business and personal insurance needs of many in the Farmville, VA area. Drop by or call us today to build an insurance plan that protects your business and personal assets.

Being a business owner in the Farmville, VA area could be a great idea. When you are a business owner here, you will enjoy all of the local amenities and a strong economy. When you do start to build and establish a business in this region, getting the proper insurance is very important.

There are various reasons why all businesses in this state need to get a commercial plan:

Protect Business

An important reason for any business in this part of Virginia to get commercial insurance is to protect their business. If you are going to start a company, you will want to know you have support for unexpected situations. When you get a proper commercial insurance plan, it will offer this support. With commercial coverage, you can get support to replace commercial assets if you incur a loss or to cover liability claims in the future. 

Ensure Compliance

It is also helpful to get commercial coverage to ensure you are in compliance. Having insurance is very important, and it is often a requirement for businesses of all sizes. With the right coverage, you can comply with requirements that are often set in loan and lease agreements, investor contracts, and contracts with vendors, suppliers, and customers. This can help to protect your reputation and allow you to avoid penalization. 

Give Us A Call

If you are a business owner in the Farmville, VA area, you will want to be assured that you selected the right type of insurance for your company. When you are ready to start looking for coverage, it would be advantageous to call our team with the Gantt Agency. Our insurance team at the Gantt Agency can help you create a new plan that will protect your business in a variety of situations. 

Home-based businesses are increasingly popular choices for those who have a small business. Not having to pay for rent is a great saving. At Gantt Agency in Farmville, VA, we have 8 offices and one of them is likely to be convenient for you to visit or call. We have been growing since 1988 and our team has the knowledge and experience that you look for in an independent insurance agent. 

Simply stated, yes, your home business does need commercial insurance. The fact is, your home insurance is not designed to protect a business, and it can either not cover or have very limited coverage for your business. 

Why Commercial Insurance?

Property insurance

If your property insurance covers any business property, it will be very limited. You could lose all your tools, inventory, office equipment and other things that you use to conduct your business. Having commercial property insurance will protect your business assets when you have them in your home or in your vehicle. 

Liability insurance

Getting sued as a small business is almost a certainty and if you are counting on your home insurance liability to protect your business you will be disappointed. Home insurance will not cover you. If you have customers or clients visiting your home and they are injured, you will be on your own. If a client sues you, you are out of luck. 

Auto insurance

If you are using your personal vehicle for business, you are taking a very big risk. Your personal auto insurance does not cover business use. If you have an accident you could find yourself with a lot of uncovered damage. You could be sued for injuries and damage and that could be very expensive. 

Give Us A Call

Contact Gantt Agency in Farmville, VA when you are in need of commercial insurance information. 

If you are trying your hands in business, you must be open to the fact that you have to contend with various risks present in the business environment. Your business is never short of risks from liability claims, fires, and theft to natural disasters. While there are several risk mitigation strategies you can devise, don’t forget about commercial insurance from Gantt Agency in Farmville, VA. Business insurance restores your financial position when perils strike.

But since commercial insurance has numerous policies, you may be confused about the ones you should consider for your business.

Here are must-have commercial insurance policies:

Worker’s comp insurance

If you have more than two employees in Virginia, the law requires you to purchase workers’ comp insurance. This coverage pays for hospitalization costs, ongoing care, and partial loss of wages for the injured employee.

General liability coverage

Regardless of the nature of your business, it’s exposed to liability claims like bodily injury, property damage, libel, slander, and other liability claims. Liability coverage covers the legal hassles when accused by third parties.

Property insurance

Business assets like buildings, computers, furniture, and inventories are susceptible to losses and damage. Perils such as smoke, fire, natural disasters, and vandalism may damage your assets, resulting in significant financial losses. Invest in property insurance to compensate when faced with damage or loss of your assets.

Professional liability insurance

If you provide services, you had better invest in this coverage. This policy protects you when sued for negligence, missed deadlines, and incomplete work by your consumers.

Cyber liability insurance

The proliferation of cyberattacks means you need to protect your business with cyber liability insurance. This coverage cushions you financially by covering PR, notification, and legal costs after a cyberattack. Ready to invest in commercial insurance in Farmville, VA? Please get in touch with Gantt Agency for an affordable quote.

Owning a business comes with a lot of responsibility. One of those obligations is worker’s compensation. Here at the Gantt Agency, we believe that business owners in the Farmville, VA area need to understand their options when it comes to workers’ comp policies. If it’s time to review your current policy, give us a call today.

Understanding your company’s worker’s comp policy

If you are a decision-maker within your company, it’s important to understand your firm’s insurance portfolio. This includes your worker’s comp policy. This type of insurance protection can help you from catastrophic expenses if an employee is injured on the job. Not only do you want to ensure that your coverage levels are adequate, but you’ll also want to check that your policy protection is comprehensive. Having the right protection at the appropriate levels can help you weather most unfortunate situations successfully!

Worker’s comp insurance is in place to protect both you and your workers. As your company grows and changes, so too will your insurance needs. We recommend an annual review to ensure that your policy is keeping pace with your company’s growth. Conversely, if you are getting the job done with fewer employees, you will want to adjust your policy coverage accordingly. Let us help you protect your hard work. As today’s work environment continues to change rather substantially, shouldn’t your insurance also adjust?

Call us today to schedule your review

The entire team here at the Gantt Agency is ready to help you with all of your commercial insurance needs. Contact us today to set up a consultation to review your Farmville VA business’s worker’s comp policy.

It can be incredibly exciting to be a business owner. For many reasons, it can also be stressful. Let insurance take some of this stress away by getting your and your business covered against potential financial and emotional burdens.

Gantt Agency in Farmville, VA provides commercial insurance for businesses from small to large. You can discuss commercial insurance with one of our agents if you are a person living in the state of Virginia.

Situations you want commercial insurance for

Your business will need to be insured for a lot of things. This can feel like a minefield, but it gets easier if you imagine some situations your business should be insured for. Some of these are listed for you below: 

• Ensure your business has liability insurance. Imagine the following: you own a factory, and one of your employees is involved in a horrific factory accident that requires a ton of medical attention, and thereby, costs. Liability insurance can help cover these costs, but it can also help you in case this employee decides to sue your or your company. At the same time, if you don’t own a factory, don’t think you don’t require liability insurance. Someone who slips and falls in an office building can still sue their company, and liability insurance can still cover you for that. 
• Commercial property insurance; is again relevant to both office buildings and factories, or even retail and gyms. Whatever it is, make sure your business location is insured in case of things like fires and floodings. 

Gantt Agency in Farmville, VA is happy to help you today to work through your commercial insurance quotes. Call us today or request a quote online.  

Worker’s Compensations Frequently Asked Questions

As a business owner working in and around Farmville, VA, you’re required by law to carry worker’s compensation insurance, and the Gantt Agency can help! But what exactly is worker’s compensation and what does it cover? Is there any way to lower your premium? What happens if you’re not covered? We answer all your pressing questions below:

Top 5 Worker’s Compensation Questions

Worker’s compensation is a necessary business expense that can protect employers and employees from financial loss resulting from a wide range of events, including moving and handling equipment, falls, car accidents, and more. It’s important to fully understand this insurance and to make sure you’re adequately covered. 

Who Needs Worker’s Compensation Insurance?

While a couple states make worker’s compensation optional, it’s required by law in most states, including Virginia. The Virginia Worker’s Compensation Act requires all businesses with at least three or more regular part-time or full-time employees must carry worker’s compensation insurance. This means that if you run a family business and you and your spouse are the only employees, you may not have to have coverage. Likewise, if you hire only freelance employees, you may be exempt (Or, you may not, depending on who is controlling the work and where the work is performed. If the work is performed onsite, it’s best to have worker’s comp even if your workers are designated 1099 contractors.) 

In most situations, if you hire anyone else for any reason, including seasonal and temporary employees, you need to have worker’s comp. 

What’s Covered by Worker’s Comp?

Worker’s compensation is a mutually beneficial policy that protects employees from financial loss while protecting employers (you) from liability. Worker’s compensation insurance can help cover medical bills, lost wages, ongoing care and treatment, legal expenses related to lawsuits, settlements for employee injuries, and even funeral costs in the unfortunate event of death as the result of a work-related accident or illness. 

What’s Not Covered by Worker’s Comp?

While worker’s compensation is designed to be a catch-all policy that covers a wide range of accidents and other events, there are a few specific circumstances that may be excluded from your policy. These include accidents that result from worker intoxication, injuries resulting from a fight an employee started, and intentional injuries (ie insurance fraud.) For a full list of excluded events, check with your insurance agent. 

How Do I Know How Much Worker’s Compensation Coverage I Need?

Your insurance agent can help you tailor the right coverage for your business. Factors that affect your desired coverage limits and your premium include the number of employees you hire and the type of work you do. A small office with six employees will have much lower coverage requirements than a manufacturing plant doing heavy industrial work with sixty employees. 

How Do I Get a Worker’s Compensation Policy? 

The best way to get a worker’s compensation policy that’s accurate and adequate for your business operations is to work with a licensed and registered insurance agent. The commercial insurance specialists at the Gantt Agency will work with you to customize a policy and have your Farmville, VA business protected in no time. 

Need a worker’s compensation policy? Contact us and get started today! 

When you own a small business, many different insurance policies can come in handy. However, very few are mandatory. Many other policies are recommended for business owners to give themselves better protection against lawsuits and other costs. If you need commercial insurance in Virginia, call us at Gantt Agency in Farmville, VA today.

Workers’ Compensation

This is an insurance type that is required for most small businesses in Virginia. If your business has two employees or more, state law requires that you cover them with workers’ compensation insurance. This covers illnesses and accidents that happen to your employees at work. If you don’t have this coverage, you can face fines and fees that result from not having the proper insurance. If you don’t have this coverage, you are also open to lawsuits from anyone who gets sick or becomes injured at work. It even pays for the lost wages of your employee if they are unable to work due to their injury or illness. 

Commercial Auto

With this type of insurance, a vehicle owned by the business is covered in case of an accident that injures people and/or causes property damage. In most cases, a personal auto insurance policy will not pay out if the accident happened during the business’s course. With a commercial auto policy, your liability to both cars and people is covered when the vehicle is used for business tasks. 

Get Your Commercial Auto Insurance Policies

If you meet the criteria for commercial insurance coverage, but your business doesn’t yet have it, you could be fined or cited. And even worse, you could become liable for a serious accident that you weren’t insured against. If you need a commercial policy, contact us at Gantt Agency in Farmville, VA.