Michigan Business Insurance Requirements Cost Youtube This video will help you understand michigan business insurance requirements & costs – and some the of the other commonly purchased commercial policies avail. Other types of small business insurance for michigan. michigan business insurance requirements are straightforward: you must have commercial auto and workers’ comp in most situations. however, that doesn’t mean you only need these coverages. for example, in 2020 to 2021, the average cost of a slip and fall claim was $49,971. [4].
Michigan Insurance License Renewal Requirements Youtube However, some insurance companies offer better coverage and more affordable rates. we built this list of only the best business insurance companies in michigan to help you on your quest for coverage. liberty mutual: liberty mutual sells many kinds of business insurance and personal coverages. liberty mutual is also a fortune 500 company with. General liability insurance in michigan costs about $69 per month or $825 per year. with this policy, your business is covered in case of third party bodily injuries, advertising injuries and property damages. on the other hand, construction businesses and contractors usually pay about $150 per month or $1,1830 per year for commercial auto. All business owned vehicles in michigan must be covered by commercial auto insurance. this policy covers the cost of accidents involving work vehicles. michigan requires both bodily injury coverage and personal injury protection (pip): $50,000 bodily injury liability per person. $100,000 bodily injury liability per accident. Commercial insurance can be affordable for small businesses, but it truly depends on many variables. in the state of michigan, the median costs of insurance for very small businesses are: general liability: $42 per month workers' comp: $44 per month professional liability e&o: $59 per month.
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