If 2018 is going to bring in changes for you, big or small, it may be a good idea to evaluate your life insurance policy to see if it should reflect them. Obvious changes like buying a home or having a child may change your needs, but many people do not realize other situations that warrant the need to assess your life insurance policy often.  At Stonewall Grace Insurance we can help you asses which situations call for a change so your life insurance policy serves you best at all times. Serving Buena Vista, VA and the surrounding areas. 

Situations that may call for a change to your policy.

• Improvement in health can improve your life insurance situation. Did you lose weight this year? Did you quit smoking? There are factors may be able to reduce your premiums or increase your policy. 
• Reduction of income. Did you lose a job or take a pay cut? You may want to reduce your life insurance policy accordingly until things improve. 
• Increase in income or assets. If your income increases you may want to also increase your life insurance policy. It may be more difficult for your family to keep up expenses at the previous amount. 
• Marriage or an additional family member usually warrants a change in your policy. After all, more dependents typically mean a variation in your financial situation. 

Contact us at Stonewall Grace Insurance serving Buena Vista, VA and the surrounding areas for a quote on a new life insurance policy in 2018, or to review your current policy to make sure you are getting the best for your money. 

Business owners in Buena Vista, VA need to fully protect themselves from financial loss if an accident occurs. A liability lawsuit can be devastating to a business causing traumatic financial loss. The agents at Stonewall Grace Insurance can help business owners understand the importance of having the right type of commercial coverage for their business.

What Happens If A Lawsuit Exceeds the Limits of My Commercial Coverage?

If a person is injured and they are awarded a settlement that exceeds the amount of your current commercial policy, you may have to think about selling off assets, or even the business itself, to cover the additional cost. While the ruling may be appealed, it can spell disaster for a small business that has limited financial resources. Even if you have an ample amount of coverage, the fact is, there are times when it’s just not enough.

The Benefits Of An Umbrella Policy

If you are unsure of whether or not your coverage will be enough to cover a person’s injuries, you may want to consider adding an umbrella policy. An umbrella policy adds an additional layer of coverage to protect you from financial loss if your current commercial coverage isn’t enough.

The agents of Stonewall Grace Insurance can offer sound advice to their customers who own businesses in the Buena Vista, VA area. If you have questions about the amount of liability coverage you have for your business, contact the office today for a complete evaluation of all of your policies. They will help you determine if you are adequately covered or need to increase the amount of your policy.

There are always some risks involved in running a business, but there are ways to protect yourself and your investment. At Stonewall Grace Insurance, we want to make sure that you have the coverage you need so you can move on after accidents or other losses. When you obtain Commercial Insurance, you can protect the parts of the business you have.

Your physical building is probably the most valuable part of your business, and you can obtain Property Insurance to cover damages that occur as a result of an accident, whether or even deliberate acts. General Liability Insurance can protect your business in the event of a lawsuit, such as if there is an accident on your property or if one of your products injures someone.

Professional Liability Insurance, sometimes called Errors and Omissions Insurance, protects your company when clients accuse you of negligence or injury as a result of professional services or advice. Many employers in Virginia are required to carry  Worker’s Compensation Insurance to make sure their own employees are protected if they are injured at work.

Also, if your business requires employees to drive company cars, you should have a Commercial Automobile Insurance policy. When someone is driving as an employee, the employer will often be held responsible. That could cost your company a great deal of money if you were depending on the employee’s insurance for coverage.

Don’t forget that if you have additional needs or need a higher rate of coverage, you can obtain umbrella policies to make up the difference.  If you depend on your business in Buena Vista, VA and want to make sure it’s protected, our representatives at Stonewall Grace Insurance would help you find the policy that best fills your needs.

Opening day is the result of a substantial amount of work. Entrepreneurs in the Buena Vista, VA area with a marketable product or service must decide how to reach their target audience. A solid business plan is often the key to a successful opening. The team at Stonewall Grace Insurance is here to help you prepare for opening day. Remember, the amount of preparation new business owners put into the initial stages of development often prepares them for the inevitable turbulence of running a new business. 

Have you chosen a location?

Make sure your real estate agent knows what your priorities are regarding needed space and adequate utilities. If you expect a significant amount of traffic to your new location, have you considered whether you have sufficient parking to cover both employees and customers? Developing a contingency parking plan for special events like grand openings or community appreciation days is wise. A location that makes customers comfortable while meeting a need can be a factor in whether some customers return. 

Did you secure the proper licenses?

Contact the appropriate government agencies to ensure you have the proper licensing in place before you open your doors for business. Make sure the building is up to code and equipped with smoke detectors, proper lighting and labeled fire exits. If there is a product involved, do you hold a patent or rights to distribute said product? It is important to understand what types of coverage is needed to protect against defective products.

Do you have an experienced insurance team on your side?

The team at Stonewall Grace Insurance can answer your questions about commercial insurance needs. From commercial liability insurance to workers’ compensation and commercial property insurance, we have your needs covered. Proper insurance protection is often the reason any business around Buena Vista, VA survives legal difficulties.