As of 2014, there were 856,682 small businesses, employing 1,755,901 people, based in the state of Michigan, and nearly 3,500 of these businesses were headquartered in Battle Creek, MI. This city is very welcoming to those who wish to start or develop a small, medium or large business. Entrepreneurs find the ecosystem to be very hospitable for startup efforts, and the Battle Creek Unlimited program provides incentives, incubators and other support services to help those who wish to start a commercial venture here. The city’s Fort Custer Industrial Park includes business dealing with national defense, aviation, food and agriculture, and the downtown area includes many small and medium-sized businesses. Whatever your business industry or size, it is important that you protect your investment with a suitable Battle Creek commercial insurance policy.
Consider this: In 2014 alone, businesses in Michigan collected $12,848,751 in business insurance claims. Building a comprehensive commercial insurance package for your Battle Creek-based business can be a complicated endeavor. Fortunately, when you discuss your company’s coverage needs with an independent insurance agent in the Trusted Choice® network, the process can be made much easier. These agents can work with several reputable insurance companies to help you obtain and compare Battle Creek business insurance quotes for policies that are designed to cover the specific risks faced by your business.
A liability lawsuit filed against your company can be expensive enough to lead your small business into bankruptcy if you do not have the right liability coverage in place. Even if the courts rule in your favor, the cost of your legal defense alone can be overwhelmingly expensive. Fortunately, your Battle Creek commercial insurance policy includes commercial general liability.
General liability insurance covers your business’s legal defense fees, court costs and financial damages for a number of liability hazards commonly faced by businesses. These include such things as the following:
Your independent insurance agent can help you identify which of the many other types of liability coverage may be right for your Battle Creek business. Some examples of policies you may want to learn more about include the following:
Battle Creek businesses contribute to Michigan’s GSP, but if a major disaster causes significant damage to your business or to surrounding structures and roadways, you may be forced to halt business operations for an extended time while repairs are made. This can significantly affect your business revenues and cause financial hardship for your company.
You can mitigate this risk by making sure that your Battle Creek commercial insurance policy includes business interruption insurance. When you have this coverage, your business continues to collect income during the forced closure. That way, you can continue to pay key employee salaries as well as monthly expenses until you can resume normal business operations. This coverage is typically limited to 12 months, though some policies may allow for longer coverage periods.
Major disasters can lead to substantial property damage to the assets owned by your Battle Creek business. Fortunately, property insurance is included in your commercial insurance policy. It covers business-owned property, such as computers, machinery, tools, inventory and office furniture. Your business may benefit from additional types of optional property coverage, such as inland marine insurance or boiler and machinery insurance. That is why it is advantageous to work with an experienced Trusted Choice Agent who can assess your business coverage needs and make appropriate policy recommendations when you are building your Battle Creek business insurance package.
Most states have workers' compensation requirements for employers within their borders. In Michigan, all public businesses that have employees must carry workman’s comp insurance. Privately owned businesses with at least three employees are also required to carry this insurance. Workman’s comp insurance provides coverage for medical costs and other expenses related to injuries or illnesses that may be sustained by employees in the course of doing their jobs. It also provides death benefits to family members in the event that an injury proves fatal. Your Trusted Choice Agent can help you find an affordable workers' compensation policy that is well suited to your business industry.
The Patient Protection and Affordable Care Act was passed in 2010. It includes an “employer mandate” that requires all U.S. companies with at least 50 full-time employees to provide these employees with subsidized health insurance coverage. Even if it is not mandatory for your small business, offering your employees benefits such as health and life insurance may be a good idea, as it can help you attract and retain a talented workforce. In some cases, it can even qualify your business for a federal tax credit. If you are interested in learning more about these types of insurance plans, your Trusted Choice Agents can help you find and review some affordable options.
Though it is a relatively new type of liability coverage, cyber crime insurance is rapidly growing in importance. It has become increasingly sought after, as cases of electronic data theft are on the rise — particularly in the state of Michigan. If you use computers or other electronic means to collect or store sensitive personal and financial data about your customers or employees, this insurance may be particularly important for your Battle Creek-based company. It protects your business from large liability-related losses if hackers manage to access information that puts these individuals at risk for identity theft and fraud. You can get more information about cyber crime coverage by speaking with your local Trusted Choice Agent.
Every business has specific risks and exposures that are relative to its industry, size and location and to the services it provides. When you work with an independent agent in the Trusted Choice network, you will have access to an experienced professional who can explain your various coverage options, make appropriate policy recommendations and provide you with an easy way to compare customized Battle Creek business insurance quotes. This will enable you to find the best coverage to meet your company’s coverage and budgetary needs.
Shopping for business insurance on your own can lead to unexpected coverage gaps and overpriced policies, so turn to an independent insurance agent for help. There are several Trusted Choice Agents with offices in Michigan, and many are located in and near the city of Battle Creek. Contact an agent near you to learn more.