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Do I Need Commercial Insurance If I Am Self-Employed?

According to research, over 30% of Americans are self-employed. If you’re part of this group, you may be wondering if you need commercial insurance. There are a few factors to consider when determining whether or not you need commercial insurance. Great Lakes State Agency in Lansing, MI is here to help you navigate this important insurance coverage.

Why need commercial insurance if you’re self-employed?

1. The Type of Business You Run

You likely won’t need commercial insurance if you’re a freelancer or consultant. However, if you have employees or run a brick-and-mortar business in Lansing MI, you’ll need to carry commercial insurance.

2. The Services You Offer

If you offer services that could potentially cause bodily injury or property damage, you’ll need commercial insurance. This is because your business will be held liable if someone is injured or their property is damaged while you’re working.

3. The Clients You Work With

If you work with clients who require you to have commercial insurance, you’ll need to carry a policy. These clients may include government agencies or large corporations. In this case, you need to consult with a professional agency like Great Lakes State Agency to determine the best coverage for your business.

4. The Equipment You Use

If you use expensive equipment or tools in your business, you’ll need to insure them with commercial insurance. This coverage will protect your equipment if it’s damaged or stolen.

5. The Location of Your Business

You’ll need commercial insurance if your business is located in a high-risk area. This is because your business will be more likely to experience a loss due to theft, vandalism, or natural disasters.

6. The Value of Your Business

If your business is worth a lot of money, you’ll need commercial insurance to protect your assets. This coverage will help you cover the costs of rebuilding your business if it’s destroyed by a covered event.

Give Us A Call

It’s important to consider all of the factors we’ve listed above before making a decision. If you have any questions, the Great Lakes State Agency in Lansing, MI is here to help. We’re a leading provider of commercial insurance, and we’re always happy to help our clients find the coverage they need. Give us a call today to get started.

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