Commercial Insurance in Howell, Ann Arbor, Brighton, Pinckney, South Lyon & Surrounding Areas

Commercial Buildings with Commercial Insurance Ann Arbor

What Does Commercial Insurance Protect?

Commercial insurance is a crucial component for businesses of all sizes, offering protection against various risks and liabilities that can arise in the course of operations.

Follmer Insurance Services provides commercial insurance in Howell, Ann Arbor, Brighton, Pinckney, South Lyon, and surrounding areas.

These are some areas that commercial insurance typically covers:

  • Property insurance: This type of insurance protects a business’s physical assets, including buildings, equipment, inventory, and furniture, from perils such as fire, theft, vandalism, and natural disasters like earthquakes or floods. Property insurance ensures that if these assets are damaged or destroyed, the business can recover financially to repair or replace them.
  • Liability Insurance: Liability insurance shields businesses from legal claims arising from bodily injury or property damage caused by the business’s operations, products, or services. It covers legal defense costs as well as any settlements or judgments awarded to plaintiffs. This type of insurance is essential for protecting businesses from potentially ruinous lawsuits.
  • Workers’ Compensation Insurance: This insurance is mandated by law in most states and provides benefits to employees who suffer work-related injuries or illnesses. It covers medical expenses, lost wages, and rehabilitation costs for employees injured on the job. Workers’ compensation insurance also protects employers from being sued by employees for workplace injuries, with few exceptions.
  • Business Interruption Insurance: Also known as business income insurance, this coverage helps businesses recover lost income and cover ongoing expenses if they are unable to operate due to a covered peril, such as a fire or natural disaster. It can compensate for lost profits, ongoing expenses like rent and utilities, and temporary relocation costs while the business is being restored.
  • Commercial Auto Insurance: If a business owns vehicles used for business purposes, such as delivery trucks or company cars, commercial auto insurance is necessary. This insurance covers vehicles against accidents, theft, vandalism, and other perils, as well as liability for injuries or property damage caused by the insured vehicles.
  • Professional Liability Insurance (Errors and Omissions Insurance): This insurance is crucial for businesses that provide professional services or advice. It protects against claims of negligence, errors, or omissions in the services provided by the business or its employees. Professional liability insurance can cover legal defense costs, settlements, or judgments related to such claims, ensuring financial protection and peace of mind for service-based businesses.

Overall, commercial insurance is a comprehensive risk management tool that safeguards businesses from a wide range of potential threats, allowing them to focus on their core operations with confidence.

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