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4800 S Cedar St
Lansing, MI 48910

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What commercial insurance is required in Michigan

Commercial insurance can mean the difference between a business that survives and one that is forced to close. Many businesses don’t make it. The average is 50% surviving five years. That makes doing everything you can to protect your business important. Most commercial insurance is voluntary but the state does require some types. At  Great Lakes State Agency in Lansing, MI as independent insurance agents, we can provide some of the finest carriers in the business to make protecting your business and being in compliance easier. 

What commercial insurance is required in Michigan

In the state of Michigan, there is only one requirement for commercial insurance, workers compensation. All employers who have one employee who works 35 hours or more a week or three or more employees who work at one time, no matter how many hours they work, must have coverage. Workers compensation protects businesses as well as employees from injuries that may be incurred during the performance of their duties.

Even though other commercial insurance isn’t mandated, it is really important for the financial health of your business. 

Property insurance can make the difference between surviving a covered hazard and not making it. You can’t survive if you can’t replace all the things you need to do business. If you have a store, you need inventory, display racks, cash registers, and more. If you are a plumber, you need tools and your materials. Every business has different needs but the basics are the same, you need what makes your business able to operate. It can also fix the building your business is located in if you happen to own it. 

Liability coverage addresses another big risk that businesses face. Suing a business is all too common and, unless you have a pile of cash lying around, it could be devastating to your ability to operate. 

Contact Great Lakes State Agency in Lansing, MI for your commercial insurance needs and with all your insurance questions and requirements.

Creating and storing a home inventory

No one ever wants to think about the things that could cause you to need to file a claim with your insurance carrier. But bad things happen all over and Lansing, MI, is no exception. At Great Lakes State Agency, we are there for our customers from the time we help them get the right insurance at a price that works for them through any claims they need to file along the way. 

An inventory is just a list of all your possessions. If you are like most people, you have a lot more than you realized and nothing makes you realize that faster than doing a home inventory. Get a pad and pen and a camera and pick a room to start in. Get pictures from several different angles and then list what you see with as much information as you can provide. 

For electronics, serial numbers help, as do make and model. If you have sales slips or receipts, they should be attached to the list. Open the closets and drawers, go to the top of the house and the attic and the basement if you have one. Don’t forget the garage. If you have expensive items, be sure you have an appraisal to prove their value. The more detailed your descriptions the better. 

Once you have completed your listing, attach all the backup information and the photos and find a safe place to store it. At the very least, you need to have a fire and waterproof container to protect this very important information. Ideally, the inventory can be stored away from the home and it is always a good idea to have a copy on the cloud. 

Give us a call at Great Lakes State Agency in Lansing, MI when you are ready to discuss the home insurance that is best for you. 

Comprehensive vs Collision Auto Insurance Breakdown

 Great Lakes State Agency serves the Lansing, MI community. We offer our clients multiple types of coverage so that they are prepared for whatever life throws their way. We work closely with multiple carriers across the state to help find solutions. We have developed a reputation for embracing ethical practices and treating people with integrity.

Collision vs Comprehensive Auto Insurance Breakdown

Auto insurance protects you as you travel around Lansing, MI and the surrounding areas. You are covered if anything happens while you’re on the road. An accident can occur at any moment. Liability coverage protects you if you accidentally hurt someone or damage property. If someone is riding along with you, liability coverage will take care of their medical treatment. Along with liability coverage, you also have to decide your collision and comprehensive limits.

Collision Coverage

Collision coverage protects your vehicle if it suffers damage in a crash. You are covered if your vehicle crashes into a pole, or you make an impact with another driver. You are also covered if your vehicle flips over and hits a pothole. Collision coverage handles the necessary repairs to get you back on the road quickly.

Comprehensive Coverage

Comprehensive coverage protects your vehicle in unique situations, such as potential theft. Maybe a snowstorm moves through Lansing, MI and a large chunk of ice damages the hood of your vehicle. Comprehensive coverage protects you in these instances. You can also amend your policy to provide extra coverage such as emergency towing service.  If you reside in an urban part of the city, comprehensive insurance is recommended. Look over your policy carefully.

Great Lakes State Agency Will Help You Cover Your Assets

Visit our website to learn more information about auto insurance.

What Is Business Interruption Insurance and Should You Get It?

If you own a business, you’ll want to know what would happen if you have to close. You might be eligible to use business interruption insurance. You can speak to a reputable Great Lakes State Agency agent if you’re in the Lansing, MI area if you’d like more information. 

What Is Business Interruption Insurance? 

Business interruption insurance is a type of policy that covers those bills you incur after your business has closed for repairs or after there’s been a disaster that keeps you from staying open. This may be added to a standard business insurance policy so that you have greater protection in general. You can use it for such things as paying your employees, temporary relocation expenses, maintaining your loan payments, and covering your rent if you’ve been temporarily displaced. 

What Can Happen If You Don’t Get Business Interruption Insurance? 

If you don’t have business interruption insurance, you might run some risks and have a difficult time overall with your company. For one, you could have extreme difficulty keeping your business running while you are paying out-of-pocket for repairs and other expenses. Another issue you could run into is that you might have to stay closed for much longer than you would if you had this coverage. If there is a fire, vandalism, or fires among other things, you could experience a great deal of frustration and even have a nearly complete loss of your business property. 

Stay Protected with Business Interruption Insurance 

It’s well worthwhile to consider business interruption insurance for your company. In the event that a disaster strikes, you’ll have peace of mind knowing you’re protected. Contact us at Great Lakes State Agency of Lansing, MI and you won’t regret it. 

Is having home insurance in Lansing always a good idea?

Those that are in the Lansing, MI area could find that it is a great community and place to own a home. If you would like to purchase a property here, you always need to ensure that you are protecting it well. A great way that you can do this is by getting home insurance. A quality home insurance plan is a good investment for a few reasons.

Protect Your Dwelling and Assets

A good reason for anyone to have a home insurance plan in this area of Michigan is to protect their assets and dwelling. Buying a home is the largest investment that most people will ever make. Additionally, you will have a range of personal assets including clothing, furniture, and electronics that you will keep in your home. If you do get a home insurance plan, you will get coverage that can protect all of these assets. 

Receive Liability Support

You also should get a home insurance plan to receive proper liability protection. Anyone that is going to own a home will have a risk that an accident could occur that causes property damage or injuries. The best way to offset this concern is by obtaining a home insurance plan. With this coverage, you can receive liability insurance that will provide helpful support in a variety of situations.

You should always ensure that you have proper home insurance in the Lansing, MI area. When you are looking for a plan in this area, calling the Great Lakes State Agency is a great idea. With so many choices to make the team with Great Lakes State Agency can help you identify your insurance needs and give any support necessary to build a plan. This can help ensure you get into a plan that is ideal for your situation. 

Auto Insurance Facts

Auto insurance is incredibly important if you own a car, whether you drive your car all the time or only so often. If you get into trouble on the road, having comprehensive auto insurance is really important and should never be an afterthought. We will explain to you further what type of auto insurance you need, and what coverage you should consider.  

Call Great Lakes State Agency in Lansing, MI when you feel ready to discuss auto insurance, and we can talk to you about what you want, but also what you need. We service people in the state of Michigan.

Minimum coverage

All drivers in the state of Michigan need to have a minimum type of auto insurance. This insurance should cover physical harm done to other people as well as cover for damage to other people’s property. This insurance covers you in the case of an accident that involves other people and cars, but more comprehensive insurance will cover you for more than just one type of situation.

Comprehensive coverage options

If you want to consider more comprehensive coverage within your auto insurance, some of these options include:

  • You should be insured for accidents with non-insured drivers. This is great to include, as this will cover your medical and repair costs in case you hit another driver who is not insured to cover you in case of an accident. While the costs should usually come from the other driver’s insurance, the costs could be out of their reach without insurance.
  • Towing, so that you and your car can get picked up, and you are never left stranded.

If you want to discuss add-ons or new auto insurance options, call Great Lakes State Agency in Lansing, MI or request a quote on our website. 

Home Insurance FAQs

If you own a home in Michigan, you have probably heard about home insurance. While you have an idea of what home insurance is, you still have a load of questions regarding this coverage. What does home insurance cover? Does homeowners insurance cover everything? Is it mandatory? If you would like to learn more about home insurance, hang on as Great Lakes State Agency located in Lansing, MI provides answers to questions we receive from our clients. 

Is home insurance mandatory?

If you are wondering whether there is any Michigan law that requires you to buy home insurance, there is none. However, if a federal-regulated bank finances your home, they may need you to purchase standard home insurance to protect your home.

What does home insurance cover?

Your home insurance protects you from natural perils, accidental, and malicious acts. Below is a rundown of what home insurance covers:

  • Dwelling coverage protects your home’s structure and attached structures from damage from fire, lightning, hail, hurricanes, and many other risks.
  • Contents coverage pays for loss or damage to your personal belongings
  • Liability coverage provides property damage and bodily injury coverage for losses and damages caused to third parties
  • Additional living expenses (ALE) coverage pays for expenses incurred beyond your normal spending when your house becomes unlivable due to a covered loss.  

What is a deductible?

A deductible is an amount you are supposed to pay before your insurer pays you. For instance, if you chose a deductible of $1,000 and have a covered loss of $5,500, your insurer will compensate you with $4,500 after deducting the $1,000. 

Typically, home insurance deductibles are applicable per claim. If you have more than one claim in a given period, you are supposed to pay for the deductible regardless of the number of claims you make. 

What are home insurance exclusions?

Home insurance won’t cover damage from nuclear hazards, normal wear and tear, pest infestation, and floods. Besides, home insurance provides little coverage for high-value items like art and jewelry. 

Still having your question unanswered? Don’t worry. Please get in touch with Great Lakes State Agency for more information. Else, you can visit our Lansing, MI offices to chat with one of our agents. 

Reasons To Get Commercial Insurance

Commercial insurance is the type of insurance that protects businesses and business owners. It protects companies in the case of disasters, accidents, crimes, or liability. If you are a responsible business owner, commercial insurance is a wise investment. Great Lakes State Agency serving Lansing, MI and other surrounding towns prepared a list of reasons why commercial insurance is important: 

Reasons To Have Commercial Insurance

  • Protects you from getting sued. As a business owner, you can get sued for different things. It can be an accident, errors on reports, or property damage. If you have commercial insurance, there is nothing to worry about because it will cover your legal defense and damages that result from your business operations. 
  • Protects your employees. Most of the states require businesses to carry workers’ compensation insurance, and Michigan is not an exception. If you have three or more employees, workers’ compensation is a must. It provides employees who suffered work-related illnesses and injuries with such benefits as missed wages because of injuries or illness, medical help, and funeral benefits. 
  • It builds your credibility. Having commercial insurance shows your contractors, partners, and customers that you are a serious business owner who manages risks seriously. 
  • Contracts may require this type of insurance. Many landlords do not want to deal with companies that do not have business insurance. The absence of commercial insurance may also not allow you, as a business owner, to get a loan from a bank if you want to purchase a commercial building. 

Great Lakes State Agency – We Will Help You Find the Right Insurance For Your Business

If you are a business owner operating a business in Lansing, MI or any other town in Michigan, and you are looking for a perfect commercial insurance policy, Great Lakes State Agency is ready to assist. We will help you find a policy based on your needs, requirements, and personal preferences. All you need to do is to visit our website or give us a call – we will answer your questions. 

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