Every state has laws about small businesses and what kind of insurance coverage they have to have. These are not the only insurance policies that businesses should have, however, they are just the ones that are mandated by Michigan law. If you want to know more about commercial insurance in the state, give us a call at The Ryan Insurance Agency in Clarkston, MI.

Workers’ Compensation

Workers’ compensation insurance is a type of commercial insurance that many businesses in the state are required to have. If a business has at least one full-time employee, it must carry this insurance for that employee. This coverage pays for the medical bills that result from an employee becoming injured at work or developing an illness from their work. This protects you as the business owner by paying those medical bills, which can be extremely expensive. It also protects you from lawsuits after an injury happens or illness develops. 

Commercial Auto Coverage

Any vehicle that is owned by a business in Michigan must have a commercial auto insurance policy on it. The state has requirements for the types of coverage that must be included as well as the minimum amount of coverage for each of those categories. It has an amount requires for bodily injury for one person injured in an accident, another amount required for bodily injury liability for everyone who is injured in an accident and another amount required for property damage liability for each accident. While there are minimum amounts required, it’s often a good idea to add to that coverage to make sure you can pay for injuries and property damage that result in an accident that was your fault. 

Get Your Commercial Insurance Policies

If you need commercial insurance to keep your business protected, give us a call at The Ryan Insurance Agency in Clarkston, MI.