Grosse Pointe Business Insurance
Find the right business insurance policy for you.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
Because Grosse Pointe, MI encompasses five distinct areas, it offers immense opportunities for small businesses and entrepreneurs to thrive. Plus, the town's proximity to Detroit and to Canadian towns provides the ability to network, expand and make an impact in their market space. In fact, there were 856,682 small businesses during previous years, employing 1,755,901 individuals and greatly contributing to state and national economies. But these same businesses suffered $12,848,751 in losses from insurance claims.
You can't protect yourself from the unexpected. That's why you need an Independent Insurance Agent on your side to ensure your business is fully covered against every risk out there. Our local agents will assess your situation and find you a comprehensive, affordable Grosse Pointe business insurance policy that works for you. The most basic form of insurance protection for small businesses is liability insurance. If a customer is injured on your property or your product malfunctions, liability coverage steps in and covers any associated medical or legal costs you may face.
- General Liability: According to a recent Travelers Business Risk Summary, 60% of small-business owners ranked medical cost inflation as their highest concern and over 30% said they felt the least prepared to handle this concern. Don't let a slip cause serious financial damage to your company. Talk to an agent about how general liability coverage covers even the smallest of scenarios.
- Product Liability: If a product that you sell, produce or manufacture malfunctions and causes harm to a customer, how would you respond? A national study found that 71% of product liability awards and 53% of medical malpractice awards by the courts amounted to $1 million or more. Product liability insurance steps in to take care of costs pending a lawsuit against you.
- Professional Liability: Also known as errors & omissions insurance, this liability coverage is designed for architects, consultants, and accountants who give advice to their clients. If a customer files a negligence claim, you are protected with the necessary financial resources.
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Business Interruption Insurance for Grosse Pointe Businesses
- Recent U.S. gross domestic product: 2.2%
- Recent Michigan gross state product: 2.0%
The state's GSP is only 0.2% less than the national GDP — indicating how the success of your business impacts more than just you. To ensure you're raking in as much profit as possible, ask an agent about business interruption insurance. When a weather- or safety-related incident forces your company to shut its doors, this coverage comes into play, allowing you to continue to pay employees and bills.
Property Insurance for Grosse Pointe Businesses
- Number of recent natural disasters in the U.S.: 119
- Only 61% of losses from natural disasters were covered
A whopping $9.7 billion from weather-related property damage was not covered by insurance in recent years, which means you need as much protection as you can get when it comes to property insurance. If a strong tornado, flash flood or intense winter storm rolls through, you can receive compensation for damaged property, both on the exterior and interior of your building.
Save on Business Insurance
Our independent agents shop around to find you the best coverage.
Workers' Compensation for Grosse Pointe Businesses
Average workers' compensation rates for businesses amount to $612 per employee. It may seem like an unnecessary cost, but if a worker is hurt while on the job or suffers from an illness related to work, you need financial protection for medical and legal costs. Don't let the unexpected cause devastation to your business — find the proper workers' comp policy with an agent.
Employee Coverages for Grosse Pointe Businesses
- Recent spending on premiums in Michigan: $1,134,005
- 39th highest premium in the U.S.
Small businesses paid an average annual rate of $5,321 per person, or $15,242 per family, for health care coverage. It's a necessary employee coverage that your hard workers deserve and something they need to feel appreciated and supported. The health and life insurance arenas can be challenging, but not with an agent. We will work with you, analyze your employees' needs and your budgetary restrictions, and find coverages that work for all parties involved.
Cyber Crime Insurance for Businesses in Grosse Pointe
- Number of identity theft complaints in Michigan in recent years: 10,338
- 6th highest for identity theft complaints in the U.S.
- Only 22% of businesses have a cyber/data breach plan in place
Regardless of how much personally identifiable information your small business holds, you're at high risk for a cyber breach. Today's hackers are relentless, and you need protection in today's tech-heavy world. Let an agent know about the information you store, your concerns and your budgetary restrictions. Our agents will gladly find you the right level of coverage when it comes to cyber protection.
Find the Right Grosse Pointe Commercial Insurance for Your Business
Considering how many risks your Grosse Pointe business faces, you need an Independent Insurance Agent working with you. Because our agents aren't tied down to one carrier, we can compare a number of quotes from various insurance carriers to find you a Grosse Pointe business insurance policy that is both comprehensive and affordable. We want your company to succeed, and we look forward to assessing your risks and looking for discounts.