Whether you are the owner of a small business firm in Ann Arbor, MI, or a major retail outlet, having exceptional business insurance is a must. Those who have built their businesses from the ground up know the importance of protecting their investment. Knowing which types of coverage to have is important to ensure that you are fully protected in the case of an unforeseen incident. There are many different options when it comes to covering your business. Here are a few of the major coverage options that you may want to consider when designing a Business Insurance plan in Ann Arbor, MI for your company.
Property and liability coverage is one of the most important options that you will have in your business insurance plan in Ann Arbor, MI. This option provides coverage when an accident, injury, or negligence claim is filed against your company. If you are the victim of property damage or slander, this insurance option will help cover the costs of your defense lawsuits.
If you are the owner of a storefront property, it is a good idea to carry commercial property insurance. This will protect your business property in the case of a fire, wind storm, hail storms, vandalism, and flood. Not only does the property insurance cover your actual building, but it also covers computers, equipment, company papers, and money. It will even include compensation for business interruption and lost income due to the property damage.
Workman’s Compensation Insurance is an option that, in many states, is mandated for a business to provide for their employees. If an employee has an injury while on the clock, Workman’s Compensation will cover the medical expenses, as well as provide additional benefits to the employee. Talk to a representative of Business Insurance in Ann Arbor, MI to find out what your state’s requirements for workers’ compensation are.
If your company manufactures and distributes products, then you are responsible for the safety of those products. If they should cause bodily harm or injury, then you are liable for those damages. The coverage of this option will be determined by the type of product that you are manufacturing. For example, if you are manufacturing pharmaceutical drugs, then you are at a higher risk than a company making shoes.
These days, it is simply impossible for a business to operate without adequate Business Insurance in Ann Arbor, MI. Make sure that you find a professional and experienced insurance company that can provide you with quality insurance coverage.
Business insurance is an essential part of any company. Kemner Iott Benz is a full-service insurance agency serving the insurance needs of customers in Ann Arbor, MI.
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