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Technology Business Insurance in Michigan

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Recommended insurance policies for technology businesses in Michigan

General liability insurance

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General liability covers common risks for tech businesses in Michigan, including customer property damage and injuries. Commercial leases often require this policy.

BEST FOR
  • Customer injuries at a tech company
  • Damaged customer property
  • Copyright and defamation lawsuits

Errors and omissions insurance

Errors and omissions insurance icon

This policy is also called professional liability insurance. It protects tech professionals against lawsuits over mistakes, missed deadlines, and oversights.

BEST FOR
  • Technical errors and oversights
  • Professional negligence lawsuits
  • Late or incomplete work

Cyber liability insurance

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This policy protects Michigan technology businesses against data breaches and cyberattacks that affect your business or a client.

BEST FOR
  • Data breach lawsuits
  • Client notification expenses
  • Fraud monitoring costs

Business owner's policy

Business owner’s policy icon

This policy bundles property insurance and general liability insurance. It's often the most cost-effective type of commercial insurance for a Michigan tech business.

BEST FOR
  • Customer injuries
  • Damaged customer property
  • Damaged business property

Workers' compensation

Workers’ compensation insurance icon

Workers’ compensation is required for Michigan technology businesses that have four or more employees. It can cover medical costs for work injuries.

BEST FOR
  • Employee medical expenses
  • Wages lost while unable to work
  • Lawsuits over employee injuries

Commercial auto insurance

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

BEST FOR
  • Accidents involving business-owned vehicles
  • Theft of a business-owned vehicle
  • Damage to a company vehicle

Looking for different coverage? Check out our other policies.

What are the insurance requirements for technology businesses in Michigan?

State laws can affect which policies you need for your technology business. These policies are required for Michigan businesses.
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Workers' compensation insurance

Michigan state law requires technology businesses with one or more full-time employees or three or more part-time employees to carry workers’ compensation insurance. This policy covers medical bills for work injuries and illnesses.

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Commercial auto insurance

Vehicles owned by technology businesses in Michigan must be covered by commercial auto insurance. Michigan requires $20,000 bodily injury liability per person, $40,000 bodily injury liability per accident, and $10,000 property damage liability per accident.

Though it's not required, personal vehicles driven for work purposes should be covered by hired and non-owned auto insurance, 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 business insurance cost for technology professionals?

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Commercial insurance can be affordable for a small Michigan tech company. Factors that influence the cost include:

  • Your industry and risk
  • Coverage limits
  • Location
  • Number of employees

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We specialize in business insurance for Michigan IT and technology professionals

Our agents are experts in insurance for Michigan technology businesses. They can help you find policies that fit your company and fulfill state requirements. TechInsurance is licensed by the state’s Department of Insurance and Financial Services as BIN Insurance Holdings, LLC (NPN 15752926) for property and casualty insurance and for surplus lines. You can verify our licensure on the department's insurance search page by entering our Michigan state ID, 0092090, into the "System ID Number” field.

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