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Most business owners understand that they need separate business insurance in Commerce, MI from their personal policies to provide specialized protection for their unique business needs. What they may not know, though, is that there are several different kinds of additional coverage available that many business owners have found to be very beneficial. Two of these types of coverage are commercial umbrella and business auto policies. Umbrella policies that are added to business insurance in Commerce, Mi are an extra safety net for businesses. They provide liability coverage in excess of the limits of a standard policy. For example, if an employee were to cause an auto accident while delivering product, a business could be sued. While a business auto policy would provide coverage for medical bills and damages up to the specified limits, once those limits were met the business’ assets could be at risk. If the business owner purchased commercial umbrella coverage, the umbrella policy would step in and cover additional expenses up to the limits of that insurance. The limits for an umbrella policy is usually much higher than a standard commercial policy, often in the millions of dollars. Business auto insurance policies are another type of business insurance in Commerce, MI that can also be very beneficial. The first thing most business owners need to understand is when it is necessary to purchase a separate commercial policy from their personal automobile insurance. Basically, if a vehicle is used for business purposes, a business auto policy is required. This includes the use of vehicles in transporting people or product for a fee. It also includes the use of a vehicle to provide a service. Business auto insurance is also necessary if an employee operates a vehicle that is owned by the business. Commercial auto policies often provide similar types of coverage as a personal auto policy. The difference between personal and business auto policies is in special eligibility requirements and exclusions. In addition, a commercial auto policy often provides higher limits for liability that may be advantageous for businesses. These are just two of the many types of coverage available to purchase with business insurance in Commerce, MI. It is important to talk to an agent to better understand all of the options available to business owners. It is essential, though, that business owners don’t delay getting the insurance coverage that they need. It can protect the financial stability of the business now and in the future. Find the best business insurance plans with Insurance Advisors Inc. They are in this business for over 30 years.
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