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Taking Control of Commercial Insurance: What to Consider

Commercial insurance is an essential part of most business operations and can provide high-quality protection that will keep you safe. Our team at Atlas Insurance Agency can help your Southeast Michigan business find a policy that suits its needs and ensure that you stay successful.

Commercial Insurance: What to Consider

Your Coverage

A typical commercial insurance policy covers things like liability protection and property damage that occur at your company. However, you may also expand it to cover your vehicles, protect your employees after getting injured, and cover damage to your property. It all depends on what your facility needs and the various steps that you’re willing to take to ensure that you have the best policy option.

Potential Limitations

While commercial insurance policies will typically cover accidents and other types of problematic situations, there are some things that it won’t cover. Chief among them is anything done purposefully or with criminal intent. For example, if you suffer financial hardship because you are attempting to commit a crime or performed an illegal activity, your commercial insurance policy will pay nothing.

Premiums and Deductibles

When buying a commercial insurance policy, you may have varying premiums and deductibles based on your needs. You can typically expand your coverage with umbrella policies or other add-ons that make your coverage more comprehensive. Note that every additional option you add will increase your premium cost. Talk to your provider about balancing these factors to ensure you don’t pay too much money.

You Can Find a Great Policy

If you think that your business needs a high-quality commercial policy, and you aren’t sure who can help you, let us know at Atlas Insurance Agency. Our team serves the Southeast Michigan area and can provide high-quality policies that will give you the protection that you need to keep your business strong.

Commercial Liability Insurance: An Introduction

As a business owner in Southeast Michigan, one of your main priorities should be protecting what you have worked so hard for. This is where the commercial liability insurance that Atlas Insurance Agency offers comes in. This kind of business insurance protects you and your company as you do business. Let’s get familiar with what commercial liability insurance is.

What Is Commercial Liability Insurance?

Immediately after opening the doors, a business owner will be responsible for the products and/or services offered. Any kind of mishap could lead to a potential lawsuit, resulting in significant out-of-pocket expenses.

Commercial liability insurance reduces the overall chance that you will lose personal assets or your business in the event of legal action. There are several different kinds of liability coverage that can extend this kind of protection to you.

General Liability Coverage

This type of insurance coverage from individuals outside of your operation, such as a customer pursuing a lawsuit due to slipping and falling on the property.

Professional Liability Coverage

Also commonly referred to as errors and omissions insurance, this type of coverage will cover legal-related issues that come from errors in the business, missed deadlines, or poor-quality workmanship.

Workers’ Compensation Coverage

While some states do not require it, workers’ compensation can protect the financial interests of your company in the event an employee suffers an injury while on the job and decides to pursue legal action.

What Are the Benefits of Commercial Liability Insurance?

Commercial liability insurance helps to ensure that you and your business aren’t held liable for legal-related expenses that result from business-related lawsuits. These expenses generally include costs associated with settling and litigating cases, as well as injury and accident damages.

When it comes to workers’ compensation coverage, you have the benefit of knowing that your staff members are protected and will receive the medical attention they need for any work-related injuries without having to worry about losing their position at your company or suing you. This is beneficial for both you as well as your employees.

When your Southeast Michigan business is in need of commercial insurance, you can rely on the team at Atlas Insurance Agency to help you obtain the coverage you need.

Michigan Commercial Insurance: What is Errors and Omissions Insurance?

As a professional in Southeast Michigan, you may be looking for commercial insurance that is professional liability insurance. One important kind of professional liability insurance is errors and omissions insurance, or, E & O Insurance. This kind of insurance can be complex but generally protects you from any errors or omissions you might make when you are professionally serving clients or patients.

At Atlas Insurance Agency, we want Southeast Michigan professionals to feel protected against errors and omissions when they are at work.

Who is This Insurance For?

This insurance is for professionals that provide a service where an error or omission could be deadly or costly. The kinds of professionals that get this insurance include doctors, lawyers, engineers, and other professionals. 

In some cases, these professionals may make a mistake during the course of their work. That mistake could also be an omission.  This mistake could be disastrous and lead to a complaint or lawsuit. One lawsuit could cripple you, your career, and your entire future.

It won’t if you have commercial insurance that is errors and omissions protection.

What Does Errors and Omissions Insurance Cover?

Errors and omissions insurance covers problems that arise during the course of your professional duties. It could be negligence, an error you made during the course of your work, bad or incorrect advice, an omission, or a violation of good faith.

If any of these things happen, and you get sued, your E & O coverage in your commercial insurance policy will cover you. You may even win the case, but an E & O policy will help you get through it.

It’s a peace of mind policy when you are dealing with such important matters.

Get a Quote

At Atlas Insurance Agency we want professionals to feel secure when providing services to Southeast Michigan. Call us today for a quote when you are looking for commercial insurance.

Required Commercial Insurance in Michigan

Every state has its own rules about the types of commercial insurance that businesses are required to have. There are two required insurance policies in Michigan, but there are other policies that benefit small businesses. If you need commercial insurance, call us at Atlas Insurance Agency in Southeast Michigan to talk to an agent.

Workers’ Comp Insurance

A workers’ compensation policy is required of all Michigan businesses that have at least one full-time employee. This policy is mandated by law, but it also benefits you and your workers. Suppose an employee should become sick or injured while at work, workers’ compensation will be there to pay for the medical bills. Without this insurance, you could face multiple lawsuits from sick or injured staff members who need their medical bills paid. 

Commercial Auto Insurance

The other mandatory commercial insurance policy for businesses is auto insurance. When any business owns a vehicle, it has to have a commercial policy. If a vehicle is used for business, personal auto insurance policies won’t cover it. And if the vehicle isn’t owned by the company itself but gets used for business reasons, personal auto insurance would likely not cover it. In that case, you need auto insurance called hired and non-owned. When your vehicles are covered properly, accidents that happen won’t sink your business due to its costs. 

Other Policies

There are other policies for businesses that are helpful but not required. Cyber liability insurance is needed if your business does a lot online or keeps data that could be breached. There is also business owners’ insurance that covers your general liability as well as commercial property insurance. 

Make Your Appointment

If you need insurance policies for your business, call us at Atlas Insurance Agency in Southeast Michigan to make an appointment to speak with an agent. It may be one of the best things you ever do for your business.