When you have a Michigan business, there are some types of commercial insurance you may need to comply with state law. There are two types of business insurance that you may be required to have, and there are many other types that can help you to protect your business better. When you need commercial insurance, give us a call at High Favor Insurance in Birmingham, MI to find out more. 

Workers’ Compensation Insurance

If your business has at least one full-time employee, the company is required to have a workers’ compensation policy. It is also necessary if you have three or more employees who have any status, including part-time employees. It’s important to have this insurance because it will keep you legal and protect your business against lawsuits and the cost of liability. This insurance will pay for the medical bills and disability benefits of any employee who gets injured or ill at work. With this coverage, that money won’t have to come from your business if an accident occurs. 

Commercial Auto Insurance

If your Michigan business owns a car or truck, it has to be covered by a commercial auto insurance policy. There are several different types of auto coverage that the auto policy has to have to be legal for company cars. The policy has to have two amounts of coverage for injury liability coverage. One is for a single person injured, and the other is for all injured parties from an accident. It’s also required that the policy has an amount of coverage for property damage that occurs in a different state. In addition, an amount for personal injury protection is required to pay for your own injuries. 

Get Covered With Commercial Insurance

To protect your business and stay legal, you need the right commercial insurance. It’s helpful to give us a call at High Favor Insurance in Birmingham, MI.