Who Should Consider Obtaining Commercial Insurance?

Business owners and contractors in Lexington, MI are not legally mandated to obtain general commercial liability insurance, though employers with one or more employees working 35-plus hours a week must have worker’s compensation indemnification by law. This also applies to situations where three or more staff members are employed concurrently, regardless of hours worked each week. 

Consider Obtaining Commercial Insurance

One reason you may need to consider purchasing a commercial policy is that businesses and potential clients can require you to be covered, citing this stipulation in their contracts. This protection helps provide security for all parties in your day-to-day operations and enables you to engage in business with a greater pool of clientele. 

Commercial insurance serves to shield you from financial loss in the event of unforeseen occurrences. Depending on your industry, the risks you face can include damage to your property from severe weather or fire, causing your building to undergo extensive repairs. Theft and vandalism may also be potential threats. Your physical assets, such as heavy equipment, can be liable for breakage through accidents or other employee actions.

Your knowledgeable North Coast Insurance Services agent can discuss your needs in more detail and will be happy to tailor a policy specifically to your needs. If you welcome customers, subcontractors, and visitors onto your premises, you may wish to consider the potential liability in the event of slips and falls and the resulting costs, such as medical bills and lawsuits. In addition, you may be responsible for any monetary issues that arise due to faulty products, advertising mistakes, or services rendered. 

Contact Us Today

North Coast Insurance Services is available to answer any questions you may have regarding the types of commercial coverage we offer, and we invite you to reach out to us today. We take pride in serving the Lexington, MI region, and we look forward to working with you.