As a business owner, there are some critical coverages to carry in order to properly protect your investment. While there are various types of policies that can be tailored to meet any risk exposure, there are some basic coverages that should always be carried to complete your Ann Arbor Business Insurance package.

Property Insurance

This policy protects the physical building you use for business in the event it was to be damaged or robbed. According to Insurance Information Institute, property insurance covers not just a building or structure but also what insurers call “personal property,” meaning office furnishings, inventory, raw materials, machinery, computers and other items vital to your business operations.

Liability Insurance

This protects against any litigation claims against your business for defective products that causes injury or damages another person’s property. If you are found liable, your liability insurance would cover the costs of medical bills, legal defense, and more.

Commercial Auto Insurance

It is important to note that personal auto insurance policies exclude coverage for commercial use of the vehicle. This policy covers automobiles that are used primarily for business or owned by the business. In case of an accident, commercial auto policies cover damage to both vehicles and even provide coverage for flooding and theft, as well.

Workers Compensation

This critical coverage covers any medical expenses, lost wages and revenue for injured workers. As this coverage is required by the majority of states, a sound program is essential to include in your business portfolio.

At Thayer-Innes Insurance Agency and Freeman Bunting Insurance Agency, we strive to protect your business with comprehensive packages and we pride ourselves on serving Washtenaw County by providing affordable and customizable policies. For more information about our products, contact us today at (855) 395-6316.

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