Business Insurance

Business Insurance protection is written among many policies. You can purchase a BOP (Business Owners Policy) for many small and mid-sized business exposures that covers your property and general liability all in one package form. Most larger businesses that have many employees or higher income receipts or exposure, will need to purchase a package policy that is more customized with endorsement to their particular business and the claim exposures it faces.

Business policies most often include coverage for your building, business personal property within the building, business interruption which covers the loss of income when a covered claim occurs, and extra expense of operating that business out of temporary location while yours is being repaired or rebuilt.

If you have employees that meet the Michigan State Workers Compensation law requirement, that is a separate policy that is based on the class of work the employee is doing and the amount of annual payroll.

If your company owns vehicles or uses your personal vehicle exclusively, you should have a separate Business Auto policy to cover the business entity for any lawsuits the business may be legally liable for. The Michigan personal auto policy was never designed or intended to cover business exposures or entities such as your LLC or Corporation.

Professional Liability Insurance is often EXCLUDED under your General Liability commercial policy. Professionals are expected to have extensive knowledge or training in their field of expertise and can be held liable for providing or not providing those services to a client. A separate policy is usually purchased or if a limited exposure is present, some companies will ‘endorse’ the General Liability policy to add this additional protection.