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Starting a business is fraught with risk but also phenomenally rewarding for the successful entrepreneur. As your business begins to take off and pay rewards, you must be ever mindful of the downside. It is where Business Insurance in Commerce, MI enters the picture. No one thinks twice about insuring their automobiles and their home, you must also insure your business and its assets in the event of an event such as a natural disaster, liability, theft and many other pitfalls that can befall a business. As the business owner, if you cannot afford to cover the potential losses alone then insurance is mandatory.

Look at what you need:

There are many different types of business insurance, not every business needs them all and different businesses will require different insurances. If your are renting space, regardless of whether it is a business office or a commercial center, the first thing to do is ask the landlord what insurance, if any, is included in the lease contract. If the landlord does carry insurance it will be on the structure and perhaps the contents of your office.

Many people start their business using personal assets, you may be using the family car to make sales calls or you may have brought a couple of computers from home to use in the office. If this is the case, check with the agent who currently handles your auto and home insurance and see if the use you are putting the assets to now is covered.

Liability:

Most small startup companies are either sole proprietorships or partnerships, rarely are they incorporated at this stage of development. As a result, you will need liability insurance otherwise you will be personally responsible for any and all actions of your business and in the event of damage to another person or another person’s property, you will have to pay directly.

Business insurance in Commerce, MI includes a few different types of liability insurance, the most common of which is general liability. This insurance will cover any claims made on you by any other person, customer or otherwise, that may injure themselves while on your premises. In many cases, product liability is also a worthy insurance to have; this insurance will provide cover in the event of a product malfunction.

Business insurance in Commerce, MI is available from Insurance Advisors, Inc. You can tailor make a policy that will cover your specific requirements.