Business Insurance in Michigan

Your business is what you are most proud of in Michigan. It would be an all-around tragedy for the company that you worked to build from the ground up to be destroyed overnight. Many business owners in Michigan do not understand the urgency of having a good business insurance plan. The agents at Shield Insurance Agency can help you see the need for the right policy.

What does business insurance cover?

Business insurance is more like an umbrella term that covers a host of indemnity options. Many business owners understand business insurance to only provide general liability protection against injuries in the facility. A good business insurance plan, however, pays for employee injuries as well as income loss due to an unforeseen closure.

As a business owner in Michigan, you can purchase:

• General Liability Insurance;
• Business Interruption Insurance;
• Commercial Auto Insurance;
• Workers Compensation Insurance;
• Professional Liability Insurance;
• Product Liability Insurance.

It is important to note that business owners in Michigan with at least one employee must purchase worker's compensation insurance. Commercial auto insurance is also required if you use your vehicle for business. A standard auto insurance policy will not cover incidents related to business.

How much business insurance should you buy?

The amount of business insurance you should purchase depends on a number of factors. First, you should consider the type of business you have. It may not be necessary to purchase property insurance if you own an e-commerce company. You may, however, want to consider product liability coverage that reimburses you if your inventory is destroyed.

Buying business insurance is an involved process that requires the help of a professional. The agents at Shield Insurance Agency can help you understand the different types of coverage so that you are confident in your plan. Call Shield Insurance today to get started with a quote for your business insurance policy.