Business Insurance

Business Insurance Michigan

Business Insurance MichiganAre you looking for business insurance in Michigan

If so contact the Michigan business insurance experts at 1-800-998-0662. 

We can help you find the best coverage for your business.

Business Insurance in Michigan Is More Complicated Than the Price We Pay for It™

Unfortunately business insurance is one of the most complicated types of insurance that you will ever purchase.

If you make a mistake and purchase the wrong policy, or the wrong coverage, or amount of coverage…

That decision could result in the complete liquidation of your business!

Biggest Mistake Made on Michigan Business Insurance?

Imagine for just a moment that you have built a successful business from the ground floor, purchased a business for a sizable financial investment, or you are involved in a family-owned business that disappears right before your eyes because of an insurance mistake!

Believing that this could never happen to you is the first mistake business owners make!

Insurance Mistake Results in Loss of Family of Business!

I was new in the insurance business and I called upon a local lumber supply company to discuss their health insurance needs.  The owner was not interested in group insurance but he did purchase individual health insurance policies for his family members.

I asked the business owner if I could review his commercial insurance needs for his business because we would use health insurance as a door opener to discuss their commercial lines needs.  This is what the business owner told me:

“Son I don’t believe in insurance, the only reason why I bought the health insurance is to take care of my two sons and their families.”

Because I was so new in the business I did not press the issue.

I didn’t think much about his statement at the time but I wondered later why would he purchase health insurance when he didn’t believe in insurance?   About three years later one of the sons called to cancel their health insurance for the business.

I asked why they were canceling and he told me that they had lost their business because of an auto accident.

An employee while making a delivery to a jobsite was not paying attention and caused a fatal accident involving a young mother.

The business was sued and found liable for more than $1 million. Because they did not purchase commercial insurance, the business was ordered to be sold for the judgment and 6 people, including family members of the owner of that business, lost their jobs because the business owner did not believe in insurance.

The business owners lack of belief in insurance may have been translated into, “I don’t think anything would ever happen so I don’t need business insurance.”

Of course the family of the young mother lost the most, but the business owner lost a company that he had built from scratch starting in the 1950s because of the negligence of one of his employees, and his family lost the ability to inherit a successful family-owned business.

What’s the moral of the story?

Business Owners Should Double Check Their Coverage Needs

We can help your business find the most appropriate coverage for your needs. Call 1-800-998-0662 and speak with one of our commercial lines experts to find the best Michigan business insurance.