Michigan law requires businesses to carry certain insurance such as worker’s compensation, but most business insurance is not mandatory. The insurance policies and coverage you do choose to carry are vital to the success of your business. Even the smallest incidents can be financially devastating for a business without adequate coverage. Fortunately, there is insurance available for any risk you might encounter as a business in Michigan. At Superior State Agency, we work closely with businesses throughout Manistique, Munising, St. Ignace, Newberry, and Gladstone, to provide business insurance solutions that meet their specific needs.
Business insurance programs often consist of many different policies and coverages. These policies can offer protection for:
- Damage or loss to a business location and its contents.
- Lawsuits arising from injury or property damage to others.
- Commercial vehicles.
- Interruption of normal business operations.
- Benefits for employees who are injured or become sick on the job.
General liability, property insurance, and workers’ compensation are among the most common types of coverage found in a business insurance program. Nearly all Michigan businesses will have these types of coverage.
Third parties can be injured or have their property damaged while on your premises. General liability insurance protects you against claims of negligence and from lawsuits associated with such incidents. Damage and medical expenses as well as attorney fees are covered under a general liability policy.
Michigan business are protected from unexpected damages resulting from events such as fire, hail, and other various natural disasters through property insurance. Property insurance covers damage or loss to your physical assets including buildings and their contents. This can include assets within the building including office furniture, inventory, we well as outdoor items such as landscaping or signs. Vandalism and theft of property are generally covered as well.
In the event of a workplace-related injury or illness, workers’ compensation ensures employees receive prompt medical treatment and adequate compensation for lost wages. The workers’ compensation system is a no-fault system. Under this system, employees receive medical treatment and compensation while employers are protected from lawsuits associated with the cause of illness or injury.
There are a multitude of insurance options available for Michigan businesses. It can be an overwhelming task trying to understand the specific policies you need to be completely protected. At Superior State Agency, we build relationships with our clients so that we can fully understand their business, needs, and goals and offer coverage for even the most difficult risks.
Contact Superior State Agency today to speak with our experienced agents about the commercial insurance options needed to protect your businesses. We specialize in offering comprehensive business insurance solutions to local businesses throughout Manistique, Munising, St. Ignace, Newberry, and Gladstone.