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Commercial Property Insurance in Virginia

Virginia’s fire-policy chapter applies to fire insurance and fire coverage combined with other coverages, but an insurer may use a Commission-approved form that is no less favorable than the statutory standard. Compare the actual Virginia policy and endorsements for building valuation, ordinance-or-law costs and income protection rather than assuming a package quote adds them. 1,2

What Is Commercial Property?

Commercial property may fit your business if you own a building or rely on equipment and stock. Compare replacement-cost terms, deductibles and any coinsurance condition, and check lost-income protection separately. Read the national Commercial property guide.

What to Watch for in Virginia

  • Check Whether the Fire-Policy Chapter Applies

    Virginia’s chapter covers fire policies and policies combining fire coverage with other insurance; it is not a universal specification for every property form or peril. Ask the producer which contract form and endorsements govern the building and business property on your schedule. 1,3

  • Compare the Written Building Valuation

    The standard agreement states actual cash value at loss, capped at reasonable-time repair or replacement with like kind and quality. Ask whether your issued form changes that basis, how it treats depreciation, and whether the scheduled limit tracks current rebuilding costs. 2,3

  • Quote Ordinance and Income Separately

    The statutory base agreement excludes increased repair or reconstruction cost required by an ordinance or law and excludes business-interruption or manufacturing loss. Ask for the limits and triggers of any endorsements covering code upgrades and interruption; the statute itself does not add them to your quote. 2

Who Regulates Insurance in Virginia

Virginia State Corporation Commission, Bureau of Insurance

The Virginia State Corporation Commission, Bureau of Insurance administers Virginia insurance laws, oversees insurers and insurance producers within its authority, and provides regulatory and consumer resources. You can use the department's complaint process to raise an insurance issue and its licensing resources to check insurance professionals. 4,5,6

Surplus-lines tax and stamping office

Reported tax rate: 2.25% of premium plus up to 0.1% Bureau Special Fund assessment The NAIC's state chart lists a 2.25% of premium plus up to 0.1% Bureau Special Fund assessment charge for surplus-lines coverage for Virginia (the chart's state entries were reviewed in October 2025). Your broker may collect the applicable amount with the premium. Surplus-lines insurers are not licensed in the state and generally are outside state guaranty-association protection; ask your broker to explain the insurer's financial protections and any diligent-search requirement that applies to your placement. 7,8

Providers With Documented State Licenses

These providers publish a national listing for Commercial property; the state records document licenses for the entities and roles shown below. Some records rely on company-reported information rather than independent regulator verification. A national listing does not confirm the product is available in Virginia. Check the regulator’s license lookup and confirm state availability for your business when requesting a quote.

  • ERGO NEXT InsuranceNext First Insurance Agency, Inc.Insurance producer · checked 2026-09-28ERGO NEXT’s current license table lists Next First Insurance Agency, Inc. in 50 jurisdictions, including Washington, DC; New York is excluded because its table rows name Next Insurance Services and AP Intego, not Next First. The table is company-reported; it does not establish product availability or provide state-regulator verification for each entry. 13
  • TechInsuranceSpecialty Program Group LLCInsurance producer · checked 2026-09-28TechInsurance’s current licensing page names Specialty Program Group LLC / SPG Insurance Solutions and lists state license numbers, but labels Rhode Island “Individual licenses” rather than identifying a license for the named agency. RI is omitted because this disclosure does not establish agency authority there; this is a search limitation, not an assertion that the company is unlicensed. The remaining state entries are company-reported and are not an insurance product availability map. 14
  • VouchVouch Specialty Insurance Services, LLCInsurance producer, Surplus-lines broker · checked 2026-09-28Vouch’s licenses page, effective January 16, 2025, lists producer licenses in all 50 states and DC. Its separate surplus-lines table includes Idaho number 870820, while a footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses. Because those statements conflict for Idaho, this record keeps Idaho producer-only and does not treat the table number as established agency surplus-lines authority. The page is company-reported and does not establish product availability. 15

Questions to Ask Before You Buy in Virginia

  1. Does Virginia’s standard fire agreement pay business-interruption loss?
  2. What valuation basis does a Virginia commercial fire policy use for a building?
  3. Does the Virginia fire-policy chapter apply to a combined property policy?

Commercial Property in Virginia: FAQ

Does Virginia’s statutory standard fire agreement include lost business income? 2

No. Its base insuring agreement excludes loss resulting from interruption of business or manufacture; review the issued policy and any income endorsement separately. 2

How does Virginia’s standard fire form value a building loss? 2

It states actual cash value at the time of loss, not exceeding reasonable-time repair or replacement cost with like kind and quality; ordinance-or-law increases are excluded from that base agreement. 2

Does Virginia’s fire-insurance chapter cover a combined policy? 1,3

Yes. Section 38.2-2100 says the chapter applies to fire insurance and fire insurance combined with other coverages; approved readable forms may vary if no less favorable than the standard form. 1,3

Commercial Property in Other States

Other Coverage in Virginia

Sources

  1. Code of Virginia §38.2-2100, Application of chapter. Virginia General Assembly; Chapter 21 scope: fire insurance and fire insurance combined with other coverages; page current 9/28/2026. Accessed 2026-09-28.
  2. Code of Virginia §38.2-2104, Standard insuring agreement. Virginia General Assembly; Subsection A: actual cash value; repair/replacement cap; ordinance/law and business interruption terms; current text 5/13/2026. Accessed 2026-09-28.
  3. Code of Virginia §38.2-2107, Readable fire policy forms. Virginia General Assembly; Subsections A–B: approved alternative form must be no less favorable; excess basis may be stated. Accessed 2026-09-28.
  4. Virginia State Corporation Commission, Bureau of Insurance. Virginia State Corporation Commission, Bureau of Insurance; Official regulator website; insurance oversight and consumer/professional resources. Accessed 2026-09-28.
  5. Insurance Department Directory. National Association of Insurance Commissioners; Virginia State Corporation Commission, Bureau of Insurance entry; official contact and website listing. Accessed 2026-09-28.
  6. Surplus Lines Insurance Premium Taxes. National Association of Insurance Commissioners; VA row; state surplus-lines premium-tax rate reviewed October 2025. Accessed 2026-09-28.
  7. Guaranty Associations & Funds. National Association of Insurance Commissioners; Coverage of claims from insolvencies of insurers licensed in a state; surplus-lines insurers are nonadmitted. Accessed 2026-09-28.
  8. Licenses. At-Bay; Current producer introduction and state table; At-Bay Insurance Services LLC; P&C and surplus-lines identifiers. Accessed 2026-09-21.
  9. Licenses and Carriers. Coalition; Licenses and Carriers, re-read 22 September 2026: Insurance Licenses table for Coalition Insurance Solutions, Inc., national producer number 18419475, with producer and surplus-lines numbers for all 50 states and DC including California 0L76155, Georgia 196479, Texas 2199630 and 2205589, Pennsylvania 815731 and 817452, Colorado 539028 and Wisconsin 3000108852. Insurance Carriers table naming, with NAIC numbers, Allianz Underwriters Insurance Company 36420, Arch Specialty Insurance Company 21199, Ascot Specialty Insurance Company 45055, Ascot Insurance Company 23752, Aspen Specialty Insurance Company 10717, Chaucer Insurance Company DAC, Coalition Insurance Company 29530, Fireman's Fund Indemnity Corporation 11380, Fortegra Specialty Insurance Company 16823, Lloyd's of London, MSIG Specialty Insurance USA Inc. 34886, MS Transverse Specialty Insurance Company 41807, Steadfast Insurance Company 26387, Vantage Risk Specialty Insurance Company 16275 and Zurich American Insurance Company 16535. Accessed 2026-09-22.
  10. Insurance Producer Licenses. Corgi Insurance; Current complete Insurance Producer Licenses table for Corgi Insurance Services, Inc.; 50 rows covering 49 states and DC (DC 3003091619); no New Mexico row; no NPN or as-of date shown. Accessed 2026-09-28.
  11. About Hiscox US Insurance. Hiscox; Hiscox Insurance Company Inc. NAIC 10200 as Chicago, IL domiciled insurer admitted or licensed in all 50 states and D.C.; Hiscox Inc. as general agent and Lloyd’s coverholder for Syndicates 33 and 3624; surplus-lines placements through licensed surplus-lines brokers; A.M. Best rating statement. Accessed 2026-09-16.
  12. Licenses. ERGO NEXT Insurance; Current entity-by-state license table reopened 28 September 2026: 50 rows under Next First Insurance Agency, Inc., including Washington, DC; New York rows instead list Next Insurance Services PC-1423070 and AP Intego BR-1198885. Accessed 2026-09-28.
  13. Insurance Licenses by State. TechInsurance; Current state table; identifies TechInsurance as a division of Specialty Program Group LLC d/b/a SPG Insurance Solutions; lists DC 3000041536 and labels Rhode Island “Individual licenses,” without an agency license number. Accessed 2026-09-28.
  14. Licenses. Vouch; Effective 16 January 2025: Vouch Specialty Insurance Services, LLC, NPN 19926463; P&C table (50 states and DC); surplus-lines table includes Idaho 870820; footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses; Idaho retained as producer-only due to conflict. Accessed 2026-09-15.

Updated .

This guide is informational and does not determine whether a policy is available or meets your needs. Editorial policy. To suggest a correction, contact Spot with a supporting source.

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