During previous years, 856,682 small businesses in Michigan employed 1,755,901 individuals. The state's economic success is evident, but what about in a small town like DeWitt, MI? Just 20 miles from Lansing, this area has a plethora of high-impact small businesses and entrepreneurial residents who are contributing to low unemployment rates and a vibrant community. DeWitt business owners have worked hard to make their mark on the local business scene and deserve to have full protection against unexpected losses.
Luckily, our Independent Insurance Agents are here to help. Our local agents are extremely experienced at finding comprehensive and affordable DeWitt commercial insurance plans for businesses both large and small. Whether you've just launched your startup or have been a staple in downtown DeWitt for a decade, we want to help you find a commercial policy that works for you. Liability coverage is the foundation of any small business protection plan. Whether it's something small like a client tripping while walking out the door or something like receiving a negligence lawsuit for advice you gave, these policies will keep your business financially stable.
- General Liability: If a customer is hurt while in your store or office, how would you respond? According to a recent Travelers Business Risk Summary, 60% of small-business owners ranked medical cost inflation as their highest concern and more than 30% said they felt the least prepared to handle this concern. To protect yourself and your company, talk to an agent about general liability coverage.
- Product Liability: A national study found that 71% of product liability awards by the courts amounted to $1 million or more. Don't let a product that malfunctions devastate your DeWitt business. This coverage helps with associated legal and medical costs if something you sell, produce or manufacture causes harm to a customer.
- Professional Liability: If you or individuals you work with receive a negligence claim for work or advice provided, errors & omissions insurance protects you. An agent can explain how this specific liability coverage gives you an extra layer of protection for professionals.
Business Interruption Insurance for DeWitt Businesses
Did you know that Michigan's recent GSP was only 0.2% less than the national GDP, at 2.0% and 2.2%, respectively? Small businesses in DeWitt contribute to the overall health of the state and national economic success — which is why it's important to keep revenue flowing. If a storm or unsafe situation forces you to shut your doors, business interruption insurance compensates you for the profits you would normally be making. That way, you can continue to pay employees and bills until repairs are made. Let an agent walk you through the details and tailor it to your unique business.
Property Insurance for Small Business
The United States faced 119 natural disasters in recent years — wreaking havoc on properties near and far, prepared and unprepared. Only 61% of losses were covered, with $9.7 billion in damage uncovered, forcing many property owners to pay out of pocket for repairs. Property insurance covers things such as broken windows, damaged inventory and wrecked furniture. Purchasing property insurance is a smart business decision, especially when you partner with an agent.
Workers' Compensation for DeWitt Small Businesses
If a worker is injured while on the job or suffers from an illness related to work, your DeWitt business could be held liable. Nationally, the average cost of workers' compensation coverage is $1.27 for every $100 in wages, or $612 per employee. It's an expense that needs to be paid — protecting your workers and your company. Workers' comp coverage covers medical and legal costs if needed, letting you focus on the bottom line. Let an agent tell you about the legal responsibilities you have and why this policy is necessary for your business.
Employee Coverages for DeWitt Businesses
- Total recent spending on premiums in Michigan: $1,134,005
- 39th highest premium in the U.S.
- Annual cost of health care for small businesses in recent years: $5,321/person or $15,242/family
Navigating the complicated world of health and life insurance isn't easy. But since you want to provide your hard-working employees and their families with coverage that is comprehensive and affordable, it's necessary to take a hard look at your options. Michigan doesn't have outrageous premium averages, but every policy is different. An insurance agent will look at your employee needs and find suitable coverage that works for both you and them.
Cyber Crime Insurance for Small Businesses
Michigan saw a reported 10,338 identity theft complaints in recent years — the sixth-highest number of reports in the U.S. If you're part of the 68% of businesses without a cyber or data breach response plan in place, you could see serious financial repercussions. Regardless of what kind of personally identifiable information you have or how much data you hold, you are still at risk. Cyber crime insurance should be an important consideration, especially in today's tech-heavy world.
Find the Right DeWitt Commercial Insurance for Your Business
Our Independent Insurance Agents want to find you comprehensive and affordable coverage for your business. We will work through your unique risks and give you a number of DeWitt business insurance policy options and quotes to choose from.
Find a local agent today to get started giving your small business complete protection.