When you run a small business in Michigan, there are certain laws about the kinds of commercial insurance that some business owners are required to have. Getting commercial insurance protects you and your business from having to pay out enormous costs after there has been an accident in either the workplace or a company car. Having these commercial insurance policies in place also keeps you legal so that you won’t have to worry about facing any fines for not having them. If you need these policies or any other commercial policies, call us now at North Coast insurance Services in Lexington, MI.
Workers’ Compensation Insurance
This type of insurance policy is required for all Michigan businesses that have at least one employee who is full-time. This coverage pays the medical bills owed after someone has an accident in their workplace. This protects businesses by avoiding lawsuits, and it protects workers by making sure that there are the needed funds if an accident should take place. This is valuable insurance for virtually every type of business.
Commercial Auto Coverage
If your business won a vehicle, state law requires that you have a commercial auto insurance policy on it. The state requires a specific set amount of bodily injury liability for one person who becomes injured in a vehicle accident and another amount required for everyone who becomes injured in a vehicle accident. The state has a standard minimum amount for this coverage, but the amounts are very low when compared to other states. It’s usually recommended that you add to the required coverage. You may also want to get other types of coverage such as collision insurance.
Get Your Commercial Insurance Policies
If your small business needs commercial insurance, we are just a phone call away. Call us at North Coast insurance Services in Lexington, MI.