Virginia State Code Section 58.1-3503(17) defines business personal property as all tangible personal property employed in a trade or a business. Businesses are assessed on, but not limited to, office furniture, fixtures, equipment, machinery and tools, and merchants capital.

Though personal auto insurance typically doesn't cover business vehicles, commercial auto insurance can cover you for both commercial and personal use.

The sum of the value of all your items is how much coverage you need. Often, the amount of personal property coverage is determined by using 50% of your dwelling coverage limit.

Most good personal auto policies from good companies cover personal or business use unless you misrepresented your business use to the extent that it voids the policy. Business use is usually more an issue of rating than coverage. HOWEVER, there are some awful auto policies in the marketplace.

This type of business insurance, also known as commercial property insurance or business personal property insurance (BPP), helps protect the owned or rented equipment, building and personal property at your company. This coverage can help cover the costs to repair or replace: Personal property located at your business.

Commercial General Liability (CGL) is the standard commercial liability policy used to insure businesses. There are three primary coverage sections that make up a CGL policy: premises liability, products liability and completed operations.

Personal insurance, like health, home or auto insurance, covers individuals and their personal assets. It protects against personal risks, such as accidents, theft, or damage to one's body, home, property or car. Business insurance, on the other hand, is all about safeguarding a business and its assets.

A Line Of Business (LOB) is a general classification of business used by the insurance industry. It has a regulatory and accounting definition - such as Fire, Motor, Personal Accident, or General Third Party Liability, and meets a rather rigidly defined set of insurance policies.

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Virginia Consumer's Guide for Commercial Insurance. Here is a printable PDF version: Virginia Commercial Insurance Guide.Protect your business and property, including buildings, inventory, and equipment with commercial property insurance. Belcher Insurance Agency represents many Virginia Business Insurance companies. We shop to find the best coverage and best price for you. Shop for business insurance through the Progressive Advantage Business program. Our licensed agents can help you customize a Virginia policy. Business and Personal Insurance Experts. Find out what commercial insurance is required for small business owners in Virginia in this complete guide. Get a free quote today!

Personal Property Insurance For Business In Virginia

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