Ann Arbor has become a hub for small businesses in Michigan, with three unique business districts and easy access to public transportation. In 2014, there were 856,682 small businesses in Michigan, providing jobs to 1,755,901 people. However, 2014 also brought some serious risks for business owners, with $12,848,751 paid out for losses. If you own a small business in Ann Arbor, MI, make sure you are protected against common threats like liability and business interruption with comprehensive Ann Arbor business insurance. Trusted Choice® Independent Insurance Agents specialize in helping small businesses find unique commercial insurance solutions to safeguard against lawsuits, cyber crime and property damage.
Operating a small business requires a significant investment, and it only takes one liability lawsuit to wipe out your business resources and tank your professional goals. If someone trips and falls on your business property, you could be held responsible for paying the medical costs. According to the 2015 Travelers Business Risk Summary, 60 percent of small-business owners ranked medical cost inflation as their highest concern and more than 30 percent said they felt least prepared to handle this issue. Liability insurance is a great solution to protect your business from this serious threat.
Business interruption insurance safeguards your company against lost profits after an unexpected event. For example, if your office building catches fire, you'll have to shut down operations until you can make repairs. In the meantime, all of your customers will have to visit competitors to get the products or services they need. Business interruption insurance pays you back for the profits you lose during an interrupting event, making it easier to get back on your feet and keep going after a disaster.
Ann Arbor's lake effect weather can cause unpredictable storm systems and severe winter weather. If a major storm causes damage to your commercial property, your business insurance covers the cost of repairs so you can get back to work as quickly as possible.
Workers' compensation is an important safeguard to protect your business if an employee gets injured on the job. Even if you are a sole proprietor working as an independent contractor, you might be required to have workers' compensation coverage in order to work on certain contracts. Trusted Choice Independent Insurance Agents can help you find the best workers' compensation solutions no matter your business size so you're always prepared in case of accidents or injuries.
With health care costs steadily rising across Michigan, employees are looking for jobs that offer the best benefit packages. Finding affordable health care and life insurance for your staff might be a challenge, but the experienced Independent Insurance Agents at Trusted Choice can help you navigate the options. Our agents can provide customized quotes on multiple policy options so you can compare premiums and benefits and find a plan that's right for your Ann Arbor business.
Identity theft is a growing problem in Michigan, and Ann Arbor businesses have to give this careful consideration as they shop for commercial insurance. Research shows that only 22 percent of small businesses have a response plan in place to deal with cyber attacks and data breaches. If a hacker managed to get into your sensitive business information, how would you recover? Cyber crime insurance is a smart solution that is a must-have for small businesses operating in today's technology-driven workforce.
Finding the best commercial insurance for your Ann Arbor business is simple with help from our friendly Trusted Choice Independent Insurance Agents. If you're not sure how much coverage you need or what types of commercial insurance are most important for your business, our experienced agents can walk you through the process. Contact a Trusted Choice agent today to learn more about the best solutions for Ann Arbor commercial insurance.