Charlotte, MI is a small town, with easy access to Lansing and a host of business opportunities for entrepreneurs and small businesses to take advantage of. During previous years, 856,682 small businesses employed 1.8 million people in Michigan. But these companies received $12.8 million in insurance claim payouts. There are certainly a number of risks and hazards these hard-working businesses face. From bad weather causing property damage to a customer filing a negligence claim, you need the proper Charlotte business insurance.
An Independent Insurance Agent will accurately assess your risks and find you a policy that meets your company's needs. Affordable commercial insurance is out there — you just have to visit your local agent to get started. Liability coverage is the foundation of protection for small businesses. While general liability is standard, your company's focus can bring a number of other liability coverages to the forefront. Let us explain more:
- General Liability: A simple slip and fall could prompt a customer to file a lawsuit against you. But a recent Travelers Business Risk survey found that 60% of all businesses said medical cost inflation was their biggest concern and 30% said they felt unprepared to handle this risk. To prepare and protect yourself, talk to an agent about general liability coverage.
- Product Liability: According to a national study, 71% of product liability awards and 53% of medical malpractice awards amounted to more than $1 million in payouts. If a product your company sells, manufactures or produces malfunctions and causes injury, product liability coverage will protect you.
- Professional Liability: Also known as errors & omissions insurance, this coverage is designed for companies and individuals that give advice to their customers. For architects, consultants, and accountants, this policy covers legal costs from negligence claims.
Business Interruption Insurance for Charlotte Businesses
If an unexpected event causes you to shut your doors, how would you continue to make a profit? Luckily, business interruption insurance exists to compensate you for the revenue you would normally make if a storm or safety event shuts you down temporarily. This affordable coverage can be added on easily with an agent.
Property Insurance for Charlotte Businesses
Approximately 119 natural disasters hit the U.S. in recent years — wreaking havoc on both residential and commercial properties alike. Only 61% of the damage caused was covered by insurance, resulting in $9.7 billion in uncovered damage that businesses had to pay for out of pocket. Don't be unprotected from weather threats in Charlotte. Your personalized Charlotte commercial insurance policy will help you get back up and running after any repairs or rebuilding needs to be performed.
Workers' Compensation Insurance for Businesses in Charlotte
Nationally, workers' comp coverages cost businesses an average of $1.27 for every $100 in wages, or $612 per employee. It may be an unwelcome cost to pay, but the protection it provides if an employee is hurt on the job will pay for itself in dividends. The right workers' comp coverage covers any associated medical or legal costs to ensure your small business in Charlotte stays financially stable. Talk to an agent about your options so you're prepared in the worst of scenarios.
Employee Coverages for Charlotte Business
Michigan businesses paid an average of $5,321 for an individual plan and $15,242 for a family plan in recent years — totaling $1.1 billion paid out for employee health care coverage. Supplying health care and life insurance to your hard working employees doesn't have to be complicated or expensive with an agent. We will work with you to find affordable coverages with a desirable premium and benefit package for your employees.
Cyber Crime Insurance for Businesses
In recent years, there were 10,338 identity theft reports — the sixth highest number of thefts in the nation. And considering only 22% of businesses have a cyber or data breach response plan in place, you can't afford to skimp on coverage. With increasing technological advancements and the greater culmination of valuable personal information, your small business needs full protection against cyber risks. An insurance agent can easily walk you through your add-on policy options.
Our Independent Insurance Agents will guide you through the process — from answering your questions to finding you discounts to helping you file a claim. Regardless of where you stand with your company or commercial insurance, we can help. Our local agents are experienced and friendly and want to find you comprehensive Charlotte business insurance that works for you.