Commercial insurance encompasses more than just one form of coverage. There are nine different types of coverage you need to know about in order to choose coverage for your needs. If you own and operate a business In Ann Arbor, Michigan, it is important to understand the basics of the nine types of coverage. Here are the things you need to know about Business Insurance in Ann Arbor.
1) Internet Business – Internet businesses can suffer security issues. This coverage will help offset the costs of getting your site up and running if you get hacked.
2) General Liability – General liability covers things like property damage, injuries, negligence claims, and accidents. This kind of coverage can also be customized to protect your reputation in case of slander.
3) Product Liability – If you have a business that creates products, this coverage protects you in case someone is injured by a fault in your product.
4) Commercial Auto Insurance – If your company provides vehicles for your employees used for business, this coverage protects the employee and offsets the costs of damage.
5) Home Business – Business Insurance in Ann Arbor for home business cannot be completely covered through homeowner policies. A home business policy can help protect you further and help you get more money to cover your business damages like printers, computers, and other equipment and supplies.
6) Business Interruption – An interruption in the operations of your business can cost you a lot of money. If you own a factory and you experience a shutdown, you lose time and money. This coverage addresses these issues.
7) Property or Casualty – This coverage is often lumped in with general liability coverage, but it can also be separated to meet your needs. This protects you from floods, fire, some business interruption, and crime.
8) Specialty Insurance – Specialty insurance is coverage for special organizations like doctors, dentists, and non-profit organizations. It is used to cover and protect them from professional errors and malpractice.
9) Life and Disability – This is primarily for employee coverage for loss of income or life. It covers disability and death benefits.
These are the nine forms of Business Insurance in Ann Arbor you need to know about for your business. Your insurance coverage can be customized to meet your needs. America One Michigan Insurance Group will work with you to determine what coverage you need and want.
