Virginia Business Insurance

Customized protection for your Virginia business

As a Virginia business owner, you should consider several types of business insurance to protect against a variety of accidents, including business property damage, professional mistakes and employee injury. These incidents can result in expensive legal fees and recovery costs that are difficult to overcome on your own.

There are over 818,000 small businesses in Virginia that account for 99.5% of all businesses in the state, according to the Small Business Administration. These small businesses collectively employ 1.6 million people and are required by Virginia state law to protect them with workers’ compensation insurance.

Shop for business insurance through the Progressive Advantage^® Business program. Our licensed agents can help you customize a Virginia policy for general liability, cyber insurance, workers’ comp and more.

Types of VA business insurance

General Liability

This is the most common business insurance coverage, and nearly all businesses in Virginia should have it. It protects against third-party bodily injury and property damage, as well as personal and advertising injury. It’s also known as Commercial General Liability (CGL) insurance.

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Commercial Auto

Commercial auto provides liability and physical damage coverage for your business vehicles and trailers. Most personal auto policies don’t cover vehicles used for business, which includes transporting supplies or traveling between job sites.

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Workers' Compensation

Businesses in Virginia are required to have workers' comp insurance if they have more than two employees. Workers’ compensation insurance helps pay for expenses related to employees becoming injured or ill while working for you.

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Business Owners Policy (BOP)

A BOP combines property and liability coverage into one easy-to-manage policy. It’s a great option for small to medium-sized businesses that rent or own commercial property, such as a storefront, warehouse or office building.

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Professional Liability

Virginia businesses that offer professional services should consider this coverage. It protects businesses from claims of professional negligence, both actual or alleged, and helps pay for defense costs. It’s also known as errors and omissions insurance (E&O).

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Cyber Insurance

This protects against incidents like data breaches and cyber attacks. It includes first-party and third-party protection for things like investigative services, data recovery and legal costs. Businesses that store or manage customer data, like credit card information, typically need this coverage.

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How much does business insurance cost in Virginia?

The cost of business insurance in Virginia depends on several factors, including your business’s coverage needs, size and location. For example, a business located near the coast in Virginia Beach can expect a different rate from a business located inland near Roanoke.

The most influential factor is your profession. Businesses are often rated on the exposures that are common to their industry. High-risk professionals, like roofers and general contractors, usually need a specialized coverage called excess and surplus (E&S), which is typically more expensive.

Learn more about the factors that affect your business insurance rate. You can also get a customized quote online to find out exactly what you’ll pay.

Virginia business insurance requirements

Virginia state law requires all businesses with more than two employees to carry workers’ compensation. The state offers several options for getting worker’s comp, which include applying for self-insurance or purchasing coverage through a private insurance carrier.

While you’re not legally required to carry other types of coverage in Virginia, you probably should. A general liability policy or a BOP can help pay for the unexpected costs that arise from work-related mishaps. Additionally, you’ll likely need these types of coverages before entering a contract with a client or landlord.

Resources for Virginia small business owners:

Resources for Business Owners (Virginia.gov)
Workers’ Comp in Virginia (Virginia Workers’ Compensation Commission)
Workers’ Compensation FAQs (Virginia Workers’ Compensation Commission)
2023 Virginia Small Business Profile (U.S. Small Business Administration)
2018 Virginia Workplace Injury Data (U.S. Bureau of Labor Statistics)

Virginia professions we insure

We help small business owners from a wide variety of industries, including these common professions:

Browse more examples of professions we insure.

Why choose Progressive?

Options

We can help you secure coverage at any stage of your business’s development with the flexibility to adjust your policy as your business changes. Our agents will work with you to make sure you’re getting protection that meets both your needs and budget.
Experts

As the #1 commercial auto insurer in America^*, you can trust us with all your business insurance needs. Our team of specially trained, in-house agents can assist you every step of the way to make sure you’re getting the best coverage for your business.
Convenience

There are several ways to get a quote, whether you need a single Virginia policy or a combination of business insurance coverages. Simply start a quote online or call us to speak with an agent.