Categories: Business Insurance, Insurance Coverage, Resources
There are a myriad of costs that go into starting and running a small business. When it comes to investing in insurance, you might be wondering if you can operate without it. However, all business owners in Michigan should consider liability insurance to protect against risks associated with your property, employees, and daily operations. Running it without insurance could jeopardize the future of your business.
State laws will dictate which business insurance coverage you need. There are two main liability insurance policies in Michigan that are required by law:
– Workers’ Compensation: Michigan state law requires all public employers to carry workers’ compensation. It is also required of private employers with one or more full-time employees, or three or more employees of any status. Workers’ comp covers medical bills for work-related injuries and illnesses, and provides disability benefits.
– Commercial Auto Insurance: All business-owned vehicles in Michigan must be covered by commercial auto insurance. This policy covers the cost of accidents involving work vehicles. Michigan requires both bodily injury coverage and personal injury protection. Personal vehicles driven for work purposes should also be covered.
Other types of liability insurance policies businesses in Michigan should consider include general liability, professional liability, cyber liability, and business owner’s policy. The cost of your insurance will depend on the type of business you run, the unique exposures faced in your industry, and the size and location of your business.
Protect your business and your employees with liability insurance. With 40+ years of proven experience, CTG Insurance delivers personalized solutions tailored to your unique needs, risks, and budget. Speak to one of our experienced advisors to find the right insurance policy for you.
P.O. Box 8
Grand Blanc, MI 48480
DISCLAIMER: Informational statements regarding insurance coverage are for general description purposes only. These statements do not amend, modify or supplement any insurance policy. Read your policy or consult with your agent for details. Your eligibility for particular products and services is subject to final underwriting and acceptance by the insurance company providing such products or services.
This website does not make any representations that coverage does or does not exist for any particular claim or loss, or type of claim or loss, under any policy. Be sure to read the policy, including all endorsements, or prospectus, if applicable.