Kalamazoo, MI is a strong supporter of small businesses. The city of 256,725 embraces creativity, supports startups and holds strong values, all of which create an ideal foundation for any small company looking to make an impact. During previous years, 856,682 small businesses called Michigan home, while employing 1,755,901 people. Despite promising economic stability, Michigan businesses were paid a staggering $12,848,751 in losses. The need for proper insurance is high – and small businesses can't afford to skimp on coverage.
If you are a small-business owner in Kalamazoo, you deserve the best protection possible. An Independent Insurance Agent can tailor any business-related insurance policy to you and to your company's needs. Whether giving your employees affordable health care, preventing cyber crime or bouncing back after a natural disaster, getting Kalamazoo small-business insurance via an agent will give you peace of mind and a satisfying bank statement.
There's a baseline of protection for your small-business needs. General liability keeps you safe from bodily injury, property damage, personal injury and more. In fact, 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. There are a number of other factors you may not even be aware of. But an Independent Insurance Agent can get you the information you need and the quotes you want when it comes to general liability insurance.
- Product Liability: If a consumer buys a product that your small business designed, produced, distributed or sold, you could be held liable for any malfunction or injury from the product. Stay financially protected against any claims with product liability insurance.
- Professional Liability: If your small business makes a product or provides professional advice, you should be insured with an errors & omissions (E&O) policy. In the event of a lawsuit, you are protected and can rest easy knowing you're backed up professionally. Discuss the cost of coverage for legal defense, negligence and personal injury with your Kalamazoo agent.
Business Interruption Insurance for Small Business
- Recent Gross domestic product: 2.2%
- Recent Michigan gross state product: 2.0%
- The recent GSP was 0.2% lower than the recent GDP
What happens if you're unable to open shop due to a natural disaster, accidental fire or water pipe break? Chances are your small business could suffer financially in the event of a temporary shutdown. But business interruption insurance compensates you for lost income in such scenarios, based on the revenue you were unable to collect while closed. Talk to an Independent Agent to feel secure knowing you're covered with an affordable business interruption policy.
Property Insurance for Small Business
- Number of recent natural disasters: 119
- Only 61% of losses from natural disasters were covered
- Total uncovered property damage in recent years: $9.7 billion
No matter if you lease or own your office space, Kalamazoo property insurance protects your small business from natural disasters or unexpected maintenance issues. This coverage keeps all of your physical assets safe and sound. An Independent Agent can work with you to figure out what's at risk and how you can protect your assets.
Employee Coverages for Small Business
- Total recent spending on premiums in Michigan: $1,134,005
- Ranked 39th for the highest premiums in the U.S.
- Annual cost of health care for small businesses in recent years: $5,321/person or $15,242/family
Employees are the heart and soul of your company's operation, which means they're valuable assets that need and deserve protection. But small businesses often struggle to find affordable policies when it comes to health care, workers' compensation and life insurance. Nationally, the average national cost of workers' compensation coverage is $612 per employee. There are a number of available add-ons beyond health insurance that you should consider for your workforce – just talk to your local agent to find out about your most cost-friendly options.
Cyber Crime Insurance for Small Business
- 10,338 identity theft complaints in Michigan in recent years
- Ranked 6th highest for identity theft complaints in the U.S.
Cyber crime insurance is an often-overlooked coverage that could save you and your Kalamazoo small business thousands of dollars. Unfortunately, cyber crime has no signs of slowing down, due to the constant advances in technology and number of hackers. Protect both yourself and your clients by purchasing cyber crime insurance from an Independent Insurance Agent. Whether you've covered all the bases or are just getting started in the small-business insurance realm, an Independent Insurance Agent can get numerous quotes, compare policies and find you the best coverage possible.
Don't underestimate the power of Kalamazoo small-business insurance.