Most people understand that home and auto insurance are vital to protecting valuable assets against catastrophic damages. However, few people understand how important it is to have the proper business insurance as well. Those who own and operate their own business may have invested a significant portion of their livelihood into it. Should anything happen to their business, they might have trouble recovering financially. When it comes to choosing the right business insurance, you need an effective plan to provide protection for your business’ property, livelihood, and to protect you in case you are sued. In this article by E&Y Insurance Agency, we will talk about different types of business insurance and how it can protect you. We will also talk about our car insurance services for businesses and individuals!
Below are a few common types of business insurance:
Business Owners Insurance
Business Owners Insurance is an insurance policy obtained by a business, also known as a BOP, as a detailed bundle for small companies that offer a variety of liability coverages. A BOP integrates two key coverages in one single policy: property insurance and general liability. The insurance coverage for employers transfers risk away from the owner to the insurance company by providing them with added protection for different types of liability, including buildings, equipment, and legal liabilities. The most common claims that business owners insurance coverage protects you from include: liability claims, important documents, broken equipment, fire, employee dishonesty, money and securities, and property claims.
General Liability Insurance
General liability insurance in Michigan is written to provide security and protection for employers from financial burdens. This can occur from reckless acts, omissions, or both, caused by the business owner or their workers which may result in physical harm or property damage. Contractual liabilities, liabilities from goods sold, and accidents on the premises of the business are some of the more common types of exposures covered under general liability insurance.
Commercial Auto Insurance
Company owners in Michigan, whether they have one vehicle or several vehicles, need to be protected by commercial auto insurance. Commercial auto insurance provides financial protection to employers and their workers by offering coverage for a company’s use of vehicles including trucks, vans, and cars. Commercial auto insurance offers protection by paying for damages and medical costs that may result from vehicle accidents, vandalism and damage from hail storms and other natural disasters. Coverage for workers includes a variety of vehicles including those that are rented, owned, leased, or hired by the company owner, as well as employee-owned vehicles used for business operations.
Your company in Troy, Michigan should be protected by insurance coverage for potential risk factors including liabilities, litigation, natural disasters, employee deceit and other unforeseen events. Even with standard business insurance, your company in Troy may be lacking the amount of coverage you are entitled to and may cause you to be liable for financial burdens. Let our professional team of experts at E&Y Insurance Agency find you a business insurance policy that suits all of your needs.
Car Insurance at E&Y Insurance Agency!
Michigan is known as the “Great Lake State” as it touches four of the five Great Lakes. Those who live in Michigan know that just like anywhere you choose to live, there are potential risks and hazards that could damage their cars. Those damages could result from commuting or climate, and we know it’s important to protect yourself from accidents that could leave you reeling from costly fixes and medical bills. Car insurance in Troy Michigan can vary more than you might think from one insurance company to another, but that is where E&Y Insurance Agency comes in! We can assist you with finding the best possible car insurance that suits your needs, and your budget.
For more information about business insurance and car insurance in Troy, Michigan at E&Y Insurance Agency, please feel free to contact us at 248-817-8071, check out our Contact Page, or by filling out our contact form.
Our office is located at 888 W Big Beaver Rd, in Troy, MI.
