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Small Business Insurance in Michigan

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Recommended insurance policies for small businesses in Michigan

These insurance policies defend Michigan small business owners against common lawsuits and other top risks.

General liability insurance

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Commercial general liability insurance covers third-party risks for small businesses in Michigan, including customer property damage and injuries. Commercial leases often require this coverage.

  • Customer injuries at your company
  • Damaged customer property
  • Libel and other advertising injuries

Errors and omissions insurance

Errors and omissions insurance icon

This policy is also called E&O insurance or professional liability insurance. It protects professionals against legal defense costs from mistakes, missed deadlines, and oversights.

  • Work errors and oversights
  • Professional negligence lawsuits
  • Late or incomplete work

Professional liability insurance

Professional liability insurance icon

This type of coverage protects Michigan businesses against lawsuits related to the quality of their professional services or advice. It's also referred to as errors and omissions insurance.

  • Mistakes and oversights
  • Breach of contract
  • Missed deadlines

Business owner's policy

Business owner’s policy icon

A BOP bundles general liability coverage and commercial property insurance at a discount. Small businesses with low risks are typically eligible.

  • Accidents that harm customers
  • Stolen or damaged business property
  • Business interruption insurance

Workers' comp insurance

Workers’ compensation insurance icon

Michigan law requires workers’ comp for almost every business that has employees. Sole proprietors may decide to buy this coverage, as personal health insurance won’t cover work injuries.

  • Employee medical expenses
  • Disability benefits
  • Legal costs from employee injuries

Cyber insurance

Cyber liability insurance icon

This policy protects businesses against financial losses from data breaches and cyberattacks. It’s recommended for any business that handles credit card numbers or other customer data.

  • Data breach investigations
  • Client notification costs
  • Fraud monitoring services

Commercial auto insurance

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This policy is required for vehicles owned by Michigan small businesses. It covers injuries and property damage in an accident, along with other types of damage.

  • Injuries caused by your vehicle
  • Property damage caused by your vehicle
  • Vehicle theft and vandalism

Fidelity bonds

Fidelity bond icon

A fidelity bond reimburses your clients in the event of employee theft. Your clients may ask you to secure a bond before they will work with your business.

  • Illegal electronic funds transfer
  • Forged signatures
  • Theft of cash or property

Commercial umbrella insurance

Umbrella / excess liability insurance icon

This policy provides additional coverage when the limit is reached on your general liability, commercial auto, or employer's liability insurance. It can help your business comply with requests for higher limits.

  • Personal injury lawsuits
  • Auto accident lawsuits
  • Workplace injury lawsuits

Looking for different coverage? Check out our other policies.

What are the small business insurance requirements in Michigan?

State laws can affect which policies you need. These insurance products are required for Michigan businesses.

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Workers' compensation insurance

The state of Michigan requires businesses with one or more full-time employees, or three or more employees of any status, to carry workers’ compensation insurance.

Workers' comp covers medical bills for work-related injuries and illnesses. It also provides disability benefits for injured Michigan workers.

Most policies include employer's liability insurance, which helps pay for lawsuits related to employee injuries.

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Commercial auto insurance

Vehicles owned by limited liability companies (LLCs), startups, and other businesses in Michigan must be covered by commercial auto insurance. This type of insurance covers financial losses from auto accidents involving your business vehicle.

Michigan's new law allow drivers to choose how much coverage they buy, but they still must carry:

  • Personal injury protection (PIP)
  • Property protection (PPI)
  • Residual bodily injury and property damage liability (BI/PD)

Personal, rented, and leased vehicles driven for work purposes should be covered by hired and non-owned auto insurance (HNOA), as personal auto policies usually exclude business use. It can be added to general liability insurance or a business owner's policy.

How much does small business insurance cost in Michigan?

Small business owner calculating their business insurance costs.

Commercial insurance can be affordable for small businesses with low risks. Average premiums for TechInsurance customers in Michigan are:

General liability: $44 per month
Professional liability / E&O: $66 per month
Workers' compensation: $46 per month

Factors that influence the cost of business insurance include:

  • Your type of business
  • Business operations
  • Number of employees
  • Coverage limits and deductibles
  • Claims history

Why Michigan business owners choose TechInsurance

Gain financial protection

The costs from a lawsuit or data breach can overwhelm a small business. Protect against common risks with the right business insurance coverage.

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Gain financial protection
The costs from a lawsuit or data breach can overwhelm a small business. Protect against common risks with the right business insurance coverage.
Win contracts and new clients
Clients want to know your small business can handle a lawsuit or disruption. Buy a policy and get a certificate of insurance fast with TechInsurance.
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Consult an expert
Our licensed agents know Michigan insurance and small businesses like yours. Get expert advice about business liability insurance for your unique risks.
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Find insurance policies for your small business in Michigan

Whether you need coverage to sign a contract, rent an office, or get a license, TechInsurance can help you find the right business insurance policies. Our insurance agents are licensed in Michigan and can help you find affordable policies from top-rated insurance companies.

Fill out our easy application to get business insurance quotes today. You can chat with an agent about your business insurance needs and get answers to any questions. When you're ready, pay for a policy online and get a certificate of insurance (COI) immediately to show clients that your business is protected.

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