As a sole proprietor, any I required by Virginia State law to carry any other insurance other than Workers compensation, unemployment, and vehicle insurance?

I own a business with less than 3
employees and I’m not a LLC

Asked on March 18, 2018 under Business Law, Virginia

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

No, worker's compensation is the only required insurance. That said, assuming there is *any* chance of business-related liability--such as from an employee accidently hurting someone during business, including by running into them if driving for business; or from a product or service hurting someone--you really should have liability insurance to protect you. You might also wish to consider insurance on any valuable business property (e.g. computers, office equipment, etc.) or inventory, and "business interruption" insurance to provide income continuation if circumstances force a temporary closure.


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