Insurance Requirements

Special Insurance Requirements by State Agency

West Virginia Offices of the Insurance Commissioner LogoWorkers' Compensation

All West Virginia employers are statutorily required to maintain workers' compensation insurance coverage. Visit the West Virginia Offices of the Insurance Commissioner Employer Coverage Unit online to file workers' compensation. 

WV Division of Labor LogoConstruction Business with Employees Wage Bond Requirements

With the exception of those companies that qualify for an exemption, every employer engaged in construction or the severance, production or transportation of minerals (excluding railroads and water transporters) in the state of West Virginia must furnish a wage bond to the Division of Labor to protect the wages and benefits of its employees. Visit the West Virginia Division of Labor online for more information.

WV Secretary of State LogoPrivate Investigator and/or Security Guard Surety Bond Requirement

Private investigators and security guards, both for individuals and firms, are required to find a surety company authorized to do business in West Virginia who will agree to issue a surety bond in the amount of $2,500 naming the individual or firm, depending on their registration type, as principal. Visit the West Virginia Secretary of State online for more information.

Commercial Insurance

At some point during the operation of a business, the question of insurance needs will arise. Any number of unforeseen emergencies or crisis may occur that may cause a significant financial loss or burden on the business. Careful research when searching for an insurance carrier will help determine which insurance carrier can best meet your business needs. 

Start by contacting your current personal insurance agent or carrier to see what kinds of business insurance are offered. You can also check with independent agents and brokers who can shop various carriers for the type of coverage your business may need. A simple online search for "business insurance" will also provide several online resources.

Insurance Types

There are many different types of insurance. Most small businesses buy what is known as Business Owner's Policy (BOP). It generally includes property, liability and criminal coverage and other specialty needs of the business. The following is a brief list of types of insurance a company should consider for its individual needs.

  • Property and Liability Insurance
  • Umbrella (secondary "excess liability" policy protecting business owners from lawsuits exceeding their usual insurance policies)
  • Life Insurance
  • Health Insurance
  • Short and Long-term Disability

WV State Seal