Commercial Insurance in Michigan
Commercial insurance protects your business against financial losses. We offer commercial insurance here at Halabicky Insurance Group all over Michigan including Brighton, Imlay City, Howell, Fowlerville, Pinckney, Hamburg Township, Milford, New Hudson, South Lyon, Hartland, and Whitmore Lake. Our goal is to find you a policy that will protect your business against liability, property damage, cyberattacks, and much more. Depending on the needs of your business, our agents will work with you to determine the right policy that fits your needs.
Commercial Insurance Requirements
Commercial insurance is mandatory in the state of Michigan. Workers’ compensation insurance is required for all private employers with at least one full-time employee or at least three employees, full-time or part-time. Additionally, all public employers must also obtain workers’ comp.
Commercial auto insurance is also required for all businesses that have company-owned vehicles. The minimum requirements are:
- Bodily injury for each person for $50,000
- Bodily injury or each accident for $100,000
- Property damage for $10,000
- Personal injury protection for $250,000
Commercial Insurance Coverage
Here is what commercial insurance covers:
- General liability- This is critical for all businesses because it protects them against risks such as customer injuries, damaged customer property, and libel. Don’t be surprised if your commercial lease requires it.
- Business owner’s policy- This is a combination of both liability and property coverage in one plan.
- Professional liability- This is also known as errors and omissions and protects your business if you offer professional advice or services. It covers work performance-related lawsuits.
- Cyber liability- This is another excellent policy to have because it protects your business against cyberattacks and data breaches. If your business handles sensitive information such as credit card numbers, this is an excellent policy to have.
- Property insurance- This keeps the physical structure of your business protected and all contents, such as equipment, inventory, and more.
To obtain a quote for commercial insurance, call us here at Halabicky Insurance Group. We are located in Brighton and Imlay City, MI.