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Business Insurance FAQ

As an independent insurance agency in Roanoke, Virginia, Dominion Risk Advisors provides a full-array of commercial insurance (often referred to as business insurance). The types of commercial insurance include:

  • General Liability insurance to protects against bodily injury or property damage arising from your operations, premises and business and from your products and completed operations
  • Commercial property insurance – this is coverage for direct damage to the property that you own, such as your building, business personal property or stock
  • Business Interruption insurance – this covers the interruption to your revenue stream when it is caused by direct damage to your physical property
  • Commercial Automobile insurance – the protects against allegations of liability from the operation of a car and for direct damage to the vehicle
  • Workers’ Compensation – this is statutory protection for your employees who may be injured or become ill while working on the job and arising out of (or in the course) their work for you.
  • Employers’ Liability – this is typically an additional coverage that is a part of the workers’ compensation policy.
  • Commercial Umbrella or Excess Policy – this provides additional liability limits and is often in excess of the general liability, automobile liability and employers’ liability.
  • Inland Marine Insurance:
    • Builders’ Risk Insurance – protecting the value of labor and materials before and during the construction of a building
    • Contractors’ equipment – insures construction equipment while being used away from your business premises
    • Transportation coverage – insures your stock while in transit.
    • Motor Truck Cargo – insures the inventory of others while you are carrying it on your vehicles.
    • Other coverages for goods when someone other than the other has possession, such as riggers’ liability or warehouseman’s legal liability.
  • Ocean Marine and International coverage
  • Executive Liability Insurance
    • Director’s & Officers’ Liability
    • Employment-related Practices Liability
    • Fiduciary Liability
    • Cyber Liability
  • Political Risk Insurance
  • Alternative Risk Solutions – Captive Solutions including Single-parent, group and association captives.
  • As an independent agency, we have direct access to dozens of carriers on your behalf and through affiliations to most, important property and casualty carriers in the country.
  • We offer you value based on the depth of our knowledge and breadth of our efforts. We expect to find you the greatest value and return on your insurance and risk management dollar.
  • Every account is underwritten individually and the risk characteristics of your account will drive your costs.
  • What can we do to help you control those costs?
    • Follow a Total Cost of Risk Strategy where we
      • Identify
      • Analyze
      • Control
      • Finance and
      • Administer your risks.
    • Provide you with advice and access to safety resources to help control your costs.
    • Provide passionate advocacy in negotiating terms for insurance and managing claims that you do have.
  • We have the ability to compete with national brokers on coverage and pricing while providing you with local service and a commitment to the community.
  • We offer risk management advice.
  • Access to quality insurance carrier partners
  • Claims advocacy – we are your champion in the claims process.
  • Quality, knowledgeable insurance brokerage
  • Coverage analysis
  • Quality presentation of your coverage and premiums
  • Account management for certificates of insurance and endorsements
  • A business perspective on all advice
  • Construction
  • Manufacturing
    • Heavy, primary manufacturing like sawmills and lumber products
    • Lighter manufacturing
  • Retail and Wholesale
    • Distribution including beverage distribution
    • Building Materials Dealers
    • Other regional distribution
  • Real Estate – we have a significant practice in working with commercial and habitational developers.
  • Transportation – from local truckers to international shippers
  • Social Service Not-for-profit organizations
  • Hospitality – Hotel, Motel and Restaurants

The risks of every industry are different. We work to understand trends in your industry and to know the hazards that will concern and insurance underwriter.  Using the TCOR method mentioned above, we will take the time to understand your business and prepare applications that will make your account stand-out. We will honestly and fairly represent you to the insurance marketplace. That credibility is one of the hallmarks of the value that we bring to bear for our clients.

Knowledge, attention to detail, and understanding the business challenges of your industry makes us uniquely different. That is why we are involved with industry groups and economic development organizations. It allows us to give back to the community while honing our craft and value to the client.

  • You want an agent who understands your business and
  • Has good relationships with insurance carriers,
  • That you like and respect,
  • An agency that rewards and retains the best people to service your account.
  • That has a vested interest in the community.

Commercial insurance is significantly different than personal insurance. Depending upon the industry, coverages may be negotiated individually and the products are classified, loosely priced and the final pricing is negotiated. You want an agent who is an advocate and who has taken the steps necessary to explain your business and be your insurance buyer.

Insurance is complex. Every business has different needs. The most important thing to look for is the interest, ability and advice of the broker. You buy insurance one time per year. A high-quality broker buys insurance for clients every day.

We would rather ask you, what do we need to do to get hired. In all likelihood, we are applying for a position that is already filled by another broker. How can we protect your business differently and more creatively than it has been until now?