SMALL BUSINESS INSURANCE MICHIGAN

Michigan general liability insurance, which may also be called commercial general liability, can protect almost all businesses in the state.

This type of insurance can help pay for expenses if your business is accused of injuring a non-employee or causing property damage. It can also help pay legal costs fees if someone sues your business for such claims.

Here’s how general liability coverage could help a small business owner avoid big problems:

A customer slips and falls at a Detroit retail shop and requires medical attention. General liability insurance could help the store pay for medical bills, as well as lawyer fees, court costs and damages if a lawsuit is filed.

Construction and cleaning companies in Michigan may want an optional add-on called tools and equipment coverage. This type of insurance can help to repair or replace business gear that’s lost, stolen or damaged outside of wear and tear.

Michigan law requires most businesses with employees to carry workers’ compensation insurance. This type of coverage is designed to help pay for work-related injuries to employees, including medical costs and lost wages.

For example, an employee of a Grand Rapids fast-casual restaurant falls from a ladder, breaks an ankle and needs nine weeks to recover. Workers’ compensation coverage could help the business pay the employee’s medical expenses and help cover lost wages while they’re unable to work.

If you drive for business reasons, your Michigan company needs commercial auto insurance. This kind of coverage can help pay for medical bills and property damage if someone has an accident in a company car.

For instance, an employee at a Lansing cleaning company hits a guardrail en route to a client’s house and requires an overnight hospital stay. Commercial auto insurance could help cover the worker’s medical bills and damages to the vehicle.

It’s important to note that personal auto policies won’t cover accidents that happen while driving for business, even if you’re driving your personal vehicle.

If your company asks employees to drive their own cars or rents vehicles for business, you’ll want an optional add-on called hired and non-owned auto insurance. It can help pay for accidents that happen in vehicles not titled to your company.

Michigan commercial property insurance can help pay for damaged or destroyed business property after a covered event, such as water, fire or wind damage.

For example, a sprinkler malfunction at a Ypsilanti real estate agency ruins the owner’s office damaging the furniture and a computer. Commercial property coverage could help pay to clean up the mess and purchase a new desk, chair and laptop.

It’s important to read your policy documents carefully to make sure there aren’t exclusions for your business. Some locations might not cover flood or hurricane damage.

Accusations of poor work, incomplete projects and missed deadlines can hurt your company’s bottom line and reputation.

Michigan professional liability insurance can provide coverage for these situations. Also known as E&O or errors and omissions coverage, it can help pay for damages if someone says your professional negligence caused them financial loss or sues you.

For instance:

An apartment complex developer alleges that an Ann Arbor painting company failed to properly prime and paint the units, which led to lost sales and revenue. E&O insurance could help the painters pay for damages and defend itself in court if the developer sued.