East Lansing is home to Michigan State University and offers an upbeat culture that is perfect for small businesses. With tree lined lanes and easy access to the state capital, this beautiful city is a great choice if you're ready to chase your entrepreneurial dreams. 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're a small-business owner in East Lansing, MI, you can minimize your risk with business insurance. Trusted Choice® Independent Insurance Agents specialize in helping small-business owners find the best East Lansing business insurance solutions to protect against liability, property damage and even cyber crime.
Liability can be an expensive issue for small businesses, and even one lawsuit can have devastating consequences for your East Lansing business assets. Imagine if someone tripped and twisted an ankle on a slippery floor. You would be responsible for the medical bills. 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. Make sure you're prepared for unforeseen situations with general liability insurance.
Business interruption insurance can keep your company afloat if a disaster forces you to shut down operations. For example, if a neighboring building catches fire and the blaze spreads to your office space, you'll have to close down until the fire is under control and the damage is repaired. Business interruption insurance steps in and pays you for the income you lose while you're waiting for repairs to be completed.
Natural disasters can be a serious problem for small businesses. Unpredictable winter storms pose a particular threat to East Lansing. If a tree falls on your business and smashes the roof, you'll have to find money to make repairs. Property insurance steps in to pay for the damage so you can focus on what matters most – making your business a success.
Workers' compensation is an important aspect of commercial insurance for any East Lansing small business. If one of your employees suffers from a work-related injury or illness, workers' compensations covers medical bills, physical therapy and any other necessary treatments. If you're a sole proprietor, you might be required to carry workers' compensation in order to do work for certain companies. Trusted Choice Independent Insurance Agents can help you find the most affordable workers' compensation solutions for your unique needs.
Michigan's health insurance premiums trend on the lower end of the national average, but they can still be a major burden for small-business owners. If you're shopping around for health care and life insurance benefits for your employees, Trusted Choice Independent Insurance Agents can help. Our experienced agents can provide quotes from a wide network of coverage options, allowing you to compare costs and find a benefits package that will be the best fit for your East Lansing small business.
East Lansing small businesses depend on technology for a variety of reasons. Whether you're using online banking, tracking your inventory or processing payments, technology plays a vital role in daily operations. However, only 22 percent of small businesses have a response plan in place for cyber attacks and data breaches. Make sure your company is prepared to deal with hackers by investing in cyber crime insurance.
Finding the best commercial business solutions is simple when you have Trusted Choice Independent Insurance Agents on your side. Our experienced agents offer one-on-one support to small-business owners in East Lansing. You can compare policies and build a customized business insurance plan that will be a good fit for your company's unique challenges. Contact a Trusted Choice Agent today to get a free quote on East Lansing business insurance and learn more about the best commercial policies for small businesses.