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Owning a small business in Michigan comes with plenty to lose sleep over but one thing that should not be keeping you up is why your small business needs commercial insurance. You have someone to turn to for the information that you need when making the decision about commercial insurance with Insurance Exchange. We can walk you through all the things that you need to consider when deciding whether or not this type of insurance makes sense for you and your business.
Every small business has different commercial insurance needs. Your type and size of business need to be considered. Where you are doing business is also important. You want enough insurance but there is no point in including things that won’t help your business to be more secure.
Michigan Property coverage
You need to protect your ability to do business. You need to protect the location and the property needs to be secure. Property insurance protects you against things like theft and fire that could destroy your inventory and your equipment. If you own the building that also needs to be covered from damage.
Michigan Liability coverage
People get hurt and they sue, it is a reality of life. You need to protect your business against legal actions that may be taken against you. This coverage can also protect you against a suit from a disgruntled former employee and wrongful termination.
Michigan Workers Compensation
In Michigan, employers must carry workers' compensation insurance for their employees. This provides wage replacement, medical, and rehabilitation benefits to employees who are injured or fall ill because of their work, regardless of fault.
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