Although business owners in Michigan are not obligated to have a business insurance policy, some parts of it, such as workers’ compensation insurance and commercial vehicle liability insurance, may be required by law if you have employees or business-owned vehicles. Business insurance is designed to protect the investment you have made in your company by covering against potential disasters like blizzards, tornadoes, fires, accidents, property crimes, and even liability lawsuits.
Business insurance policies are customized to meet the specific needs of the companies they cover, so the cost for this insurance can vary significantly from one Michigan business to the next. Factors that can influence your rates include your company’s size, assets, liability risks, and the number of people you employ. An experienced insurance professional can help to ensure that you are purchasing only the coverage your business actually needs while not leaving your company vulnerable to unintentional coverage gaps.
We’ve had business insurance since 2012. Then we changed offices and we had to update the location. We needed the cover in insurance, so we searched online for insurance companies or independent agents. I have used TrustedChoice before and it was excellent, so we went with them. Navigating through their website was easy. TrustedChoice is an excellent insurance company to work with.Darren of Traverse City, MI Consumer Affairs
There are several different coverage types and policy options that you can choose from when you are building a business insurance plan. That is why many business owners choose to work with an insurance professional who can help them obtain comprehensive, customized coverage. Most business insurance policies include the following:
Floods, landslides, and mudslides are not covered by business insurance. If your company is at risk for these hazards, be sure to talk to your insurance agent about flood insurance and difference in conditions (DIC) insurance.
There are currently 899 independent insurance agents in Michigan who can help you find the best business insurance policies to cover your company. Your agent can save you time and money by working with several different insurance providers to find appropriate coverage at the most competitive rates. Talk to an agent near you to start comparing customized business insurance quotes.