WHY I CHOOSE CARDINAL:
I’m a Realtor in Traverse City. Many times I have clients who move to the area and it’s always easy to refer Cardinal Insurance. They do a great job looking for the best fit for each client. I’ve recommended them to friends & family members as well, they’ve always been attentive, responsive and competitive in their pricing. They did such a good job for others that I let them take a look at my insurance needs (thought they couldn’t beat what I had in place). Turns out I now have better coverage with a less expensive price tag; you can’t ask for more then that!
Debra J. Hall, client since 2011
WHY I CHOOSE CARDINAL:
"The professionals at Cardinal Insurance in Traverse City Michigan are just that - professionals. They remember my name, they get back to me so quickly, and they get back to me with answers. Beyond being affordable insurance, these people care. The customer service is outstanding and they have taken the time to build a relationship with me and my family and they have my trust. That is rare these days. Cardinal insurance will be my Agency for years to come."
-Kathleen Johnson 2022
Michigan Professional Liability Insurance: Essential Coverage for Businesses
Cardinal Insurance Group understands the critical importance of professional liability insurance for businesses and general contractors in Michigan. This type of insurance is designed to protect operators and business owners from a wide range of potential claims and liabilities. Professional liability insurance, also known as errors and omissions insurance, is crucial for guarding against claims arising from various sources. These exposures could include:
- Accidents during business operations
- Contractual Liability stemming from business agreements
- Product Liability for items manufactured by the insured
Having adequate coverage ensures that your business is protected from unexpected legal claims and financial losses.
Determining the Cost of Professional Liability Insurance
The cost of professional liability insurance is influenced by several factors:
- Coverage Limits: Choose between one, two, or three million dollars in liability coverage.
- Type of Work: The nature of your business activities impacts the insurance rates.
- Gross Receipts & Payroll: Businesses with higher revenue and payrolls often pay higher premiums.
Ensuring Comprehensive Coverage
As a business owner or general contractor, it’s your responsibility to ensure that everyone working under you is adequately covered by insurance. If an injury occurs to someone not directly involved in the project, legal action can be taken against any party involved. The more individuals involved, the higher the risk of a successful lawsuit.
Key Benefits of Professional Liability Insurance
- Legal Protection: Covers legal fees and settlements in case of a claim.
- Financial Security: Protects your business from substantial financial losses.
- Peace of Mind: Ensures you can focus on your business operations without worrying about potential liabilities.