What is the Best Insurance for My Small Business?

Our Milan business insurance agents explain the different types of coverage that help protect small business owners.

Owning a small business is a lifetime dream for many people. Unfortunately, unexpected accidents can happen that turn your dream into a nightmare. Injuries that occur on your property, product defects or design errors, and disputes over contracts or vendor terms are all common hazards that could leave you facing significant liability.

At Hartman Insurance Agency, Inc., we are dedicated to making sure you are protected. Our Milan business insurance agents can guide you through different types of policies, determining which is right for your small business.

Six Types of Insurance That Protect Milan, MI, Small Business Owners

There are nearly 900 small businesses currently registered in the State of Michigan, and they employ close to two million people. If you are a small business owner in Milan, you know how important it is to have a solid business plan in place. The same goes for business insurance.

Unexpected events are likely to happen and could potentially cost you major amounts of money. The following are six types of insurance recommended by the Small Business Administration (SBA), which can help protect you, your family, and others who depend on you:

1. General Liability Insurance

This is suited to any type of business and protects you from personal injury and property damage claims, accusations of libel, or other legal issues while paying the costs of legal representation and any civil judgments against you.

2. Commercial Property Insurance

This protects you against adverse weather, acts of vandalism, and other unexpected events that damage your commercial property. It also helps protect you against property liability claims.

3. Professional Liability Insurance

If you provide a service to your customers, this protects you against accusations of negligence and any adverse effects of your services.

4. Product Liability Insurance

If you produce an actual product, this protects you against claims due to design defects, manufacturing errors, and failure to provide proper instructions or clear warnings to users.

5. Home Based Business Insurance

Home-based businesses in Milan can allow you to make a steady income without having to be away from your family or invest in commercial space. However, the SBA recommends adding a rider to your homeowner’s coverage to protect you against damage to business tools or inventory and any types of accidental injuries that happen.

6. Business Owner’s Insurance Policy

This type of policy serves to bundle different types of coverage and is well-suited to any small business owner in Milan, particularly home-based business owners.

Discuss Your Options With Our Michigan Business Insurance Agents

Being a small business owner is a goal for many people, but it is important to make sure you have the proper protections in place. Business insurance protects you and your family, along with customers and others you work with, reducing your personal liability. To discuss the options, call Hartman Insurance Agency or contact our Michigan business insurance agents online today.