Get on-demand coverage hourly, daily, or monthly in about a minute. If you need coverage for a year or more, You’re better off letting us shop your coverage with our network or carriers. We’re laser-focused on delivering super quick insurance quotes with bottom dollar prices. We take a lot of pride in helping small business owners buy better business insurance with less headaches, and lower rates. We offer lower cost GL programs for over a hundred types of businesses in Michigan. We’ve helped over 1 million small business owners protect their companies.
The statute of limitations for personal injury is 3 years for negligent conduct and 2 years for intentional conduct. Product liability statute of limitations are 3 years, unless a product was in use for more than 10 years, in which case strict liability will not be the standard. If you own property or other valuable assets you would be wise to invest in sufficient commercial general liability coverage for your Michigan small businesses. A typical small business in Michigan can expect to pay anywhere between $300 and $5,000 annually for their general liability policy. The final cost of liability coverage from one business to the next will vary significantly based on the SIC code or the insurance company’s own classification system for GL rating. Some additional factors used to develop insurance costs include the nature of your business, your physical location, prior claims experience, and your years in business.
We’re an independent agency representing more than 35 national and regional commercial insurance companies. Most of our partners are actively quoting MI business liability insurance. We make our insurance companies compete for your insurance business. They know we want lower rates and bigger discounts for our customers. The cost of small business liability insurance in Michigan depends on a number of factors, including industry, number of employees, and your amounts of payroll and revenue. In Michigan, every business with employees is required to carry workers’ compensation insurance by clicking this link fowleragencycorp.com
Emil Rummel Agency offers comprehensive general liability insurancein Frankenmuth, Saginaw, Vassar, Caro, and throughout Michigan. One of our insurance advisors will reach out to you to review your information and present you with the appropriate general liability insurancesolution. No matter the size and nature of your business, there are always uncertainties.
At Thimble, the cost of your small business insurance depends on a variety of factors. The amount of risk involved in your business, the industry you’re in, and the amount of business you do all play a part in determining your policy premium. Business insurance is called commercial general liability insurance. Protect your business against property damage, bodily harm, medical bills, lawsuits, and libel with general liability insurance. To find out more about these, as well as other business insurance products and services, call us and we’ll help make sure you’re properly covered. You may be looking for Michigan business insurance coverage or have a question about your current policy.
A few exceptions to this principle include data loss and reputation damage (for example, if one of your business’ staff members defames a client). A good rule of thumb for most small businesses is between $500,000 and $1 million. Note that if you operate out of your home, your homeowner’s or renter’s insurance has limited coverage for business liability and loss. Commercial Liability Insurance is not mandatory for businesses operating in Michigan. Non-economic damages for general personal injury are capped at $280,000. If a design defect causes death or permanent loss of a major bodily function, awards are capped at $500,000.
Additionally, general liability insurance may be a requirement before some businesses will sign a contract with you. At it’s core, General Liability Insurance (a.k.a. CGL for Commercial General Liability) is the most basic form of commercial liability coverage. If you own a business, having General Liability coverage is not optional — it’s mandatory. Property Protection Insurance – PPI is a type of liability coverage that’s required in Michigan. It covers damage to “tangible property” within the state of Michigan.
Certain exemptions and exceptions apply for agricultural, domestic, and public employees. If you need to use a car or truck for your small business, it is advisable to purchase adequate auto insurance. At Ottawa Kent we are built on unique principles that have provided us success for over 40 years.
There are two types of insurance coverage every business in Michigan is required to have, and several that are recommended. While the state of Michigan doesn’t require businesses to have business liability insurance, it’s highly recommended that you have it. Business liability insurance in Michigan covers non-physical injuries as well. This coverage helps in the case of slander, libel, copyright infringement, and more. There are many different aspects and considerations of general liability insurance to ensure that your business is covered for damages, medical or legal expenses, and more. This agency is responsible for regulating all insurance policies sold in the state, including commercial liability coverage.