Business Insurance

Tailored to meet the insurance needs of a wide range of small & large Michigan businesses

As a business owner, you have enough on your mind without having to worry about your business insurance needs. You want to have the confidence that the business you’ve built is covered by a company that understands your commercial insurance needs.

Business insurance provides a wide-ranging protection for businesses and their subsidiaries under a single policy. There are various types of commercial business insurance that takes care of multiple avenues of coverage. Commercial business insurance is an important aspect of any business that cannot be ignored, especially if the business premises are leased or rented and even otherwise. Whatever your business insurance needs may be, Growers Choice will work with you to design a protection plan that’s right for you, your business, and your employees needs.

Workers Compensation | Growers Choice Insurance

What Risks does a Business Insurance Policy Cover?

Talk with a Growers Choice agent today to find out what coverage your business needs & ways your can save!
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No single policy protects against all business risks. Different types of business insurance coverage is available for protection against numerous things, including:

• Customer Injuries

• Employee Injuries

• Property Damage

• Lawsuits

• Cyber Attacks

• Loss of Income

• Theft & Vandalism

• Weather Damage

Business Insurance Options That Suit Your Business

Business Owners’ Policy (BOP) Insurance

A Business Owners’ Policy (BOP) combines both business property and business liability insurance into one business insurance policy. This policy helps cover your business from claims resulting from things like fire, theft, lawsuits, loss of income, or other disasters. Business owners’ insurance also helps cover claims that could arise from business operations such as bodily injury, property damage, and personal injury. Our BOP plans are customizable to fit industry specific businesses, making it a great choice for any business of any size!

Business Owners Policy Insurance | Growers Choice Insurance

D&O Insurance

Directors & Officers Liability, also known as D&O Insurance, protects individuals from personal losses if they are sued as a result of serving as a director or an officer of a business or nonprofit organization. It also can cover legal fees and other costs that may incur from a lawsuit. Any business with a corporate board or advisory committee should consider investing in D&O Insurance, including non-profits. Talk with a Growers Choice agent today to find out if D&O insurance is right for your business.

General Liability Insurance

Four out of 10 small business owners are likely to experience a property or general liability claim in the next 10 years. General Liability Insurance helps protect your business from claims of bodily injury or property damage that can happen during normal day-to-day business operations. Without general liability coverage, you would have to pay for medical expenses and property repair costs out of pocket. With general liability insurance coverage, you will have protection from claims of bodily injury, property damage, reputational harm, advertising injuries, and damage to premises rented to you.

Professional Liability Insurance

Even if you are an expert, mistakes can still happen. Professional Liability Insurance, also known as Errors and Omissions Insurance, covers you and your company in the event that you make a mistake throughout the professional services given to a customer or client. This coverage helps cover claims of negligence, misrepresentation, data breach, inaccurate advice, personal injury, and property damage to their property. Without Professional Liability Insurance coverage, you will have to pay expensive legal defense costs out of pocket. Talk with a Growers Choice agent today to find out if your company should have professional liability coverage.

Workers’ Compensation

Workers’ Compensation, also known as workman’s comp or workers’ comp, helps your employees recover from work-related injuries or illnesses so they can get back to work quicker. The benefits included in workers compensation can help cover their medical care and medical treatment, replace most of their lost wages if they take time off to recover, provide disability benefits, and give death benefits, like help paying for a funeral if they lost their life in a work-related accident or illness. Workman’s comp also benefits the business owner as well. It includes liability insurance coverage, so if your business faces lawsuits in the event of an injured worker, workers compensation can help pay for those legal costs.

Generally, most workers’ comp policies cover most, but not all on-the-job injuries when it was caused by an employee or an employer’s carelessness. However, injuries that occur due to an employee being intoxicated or using illegal drugs are most likely not covered.

It’s also important to keep in mind that most states require businesses with one or more employees to have workers’ compensation insurance. In addition to following state regulations, as a business owner you want to protect your business, yourself, and your employees from unforeseen accidents and prevent business interruption. Start protecting your businesses employees today by getting a customized business insurance quote by Growers Choice!

Commercial Auto Insurance

Commercial Auto Insurance is designed for businesses with company vehicles and helps pay for repairs for your company vehicle or a driver’s medical bills in the case of an accident. Typical commercial auto insurance coverage may include auto liability, medical payments, comprehensive coverage, collision coverage, and uninsured and underinsured motorist coverage. Types of vehicles we can insure include cars, cargo vans, work vans, box trucks, pickup tricks, and utility trucks. Protect your business on the road with a tailor-made commercial auto insurance policy from Growers Choice!
Get a quote today.

Commercial Property Insurance

Commercial Property Insurance is something every business needs – whether you own your own building, lease, or work from home. It protects your company’s physical assets from fire, explosions, burst pipes, storms, theft, and vandalism. Earthquakes and floods typically aren’t coverage by commercial property insurance unless they are added to the policy. Coverage includes computers, furniture and equipment, exterior signs, fence and landscaping, important documents, inventory, and others’ property. A complete business property insurance plan is one of the smartest investments a business owner can make. Many businesses choose to get a Business Owners Policy, which combines commercial property, general liability, and business income insurance together for essential coverage. Talk with one of our agents today to find out which policy would be best for your business!

Group Health Insurance

Healthier employees’ equal healthier growth. Group health insurance provides employees with reduced insurance rates because the insurers risk is spread across a group of policyholders. Plans usually require at least 70% participation in the plan to be valid. Many employers offer supplemental health plans, which include dental coverage, vision coverage and pharmacy coverage, either separately or as a bundle. Growers Choice offers group health insurance plans for small, medium, and large businesses. Additional group health coverage can include:

Group Dental: 2 out of 3 employees consider dental benefits to be an important part of their compensation package. Growers Choice works with group dental insurance providers to find you a plan with a large network of dentists and personalized service at an affordable price.
Group Life: Offer your employees the opportunity to protect their loved ones. Group Life Insurance can help with medical bills, funeral expenses, and financial debt in the event of a death of an insured dependent at any time from any cause. These plans offer support to your grieving employees families.
Group Vision: Vision care plays an important role in our overall health and group vision insurance is one of the least expensive investment you can make in your employees’ health.
Key Person Coverage: Key person coverage is life (and sometimes disability) insurance on specific key employees – typically the founders, owners, or important executives. As a business, you pay the premiums and is the beneficiary for your key person coverage. If the covered employee passes away, the business gets the insurance payout. Those proceeds can be used for paying off debts, supplementing lost revenues, and other uses you see fit for the company.
Critical Illness Coverage: When the unexpected happens and your employees face a critical illness, critical illness coverage can help. They allow your employees to protect their finances by giving them a lump sum to pay their deductibles, mortgage, groceries, or other expenses.
Long Term Care: A Long Term Care policy is meant to pick up where health insurance leaves off. These policies may help pay for home health care, nursing home costs, assisted living facilities, adult daycare, home modifications, and care coordination.
Short-Term Disability: Accidents, illnesses and pregnancy put your employees’ ability to earn a living at risk. Group Short-Term Disability coverage pay benefits when those circumstances prevent an employee from working full time.
Long-Term Disability: Increase your employees’ financial protection with Group Long-Term Disability Insurance! Group Long-Term Disability will give your employees peace of mind knowing their financial needs will be covered.

Surety Bonds

Different than insurance, a surety bond is a contract that guarantees that work a contractor or employer was contracted to do will be completed. Each surety bond is uniquely tailored to meet specific needs. Three parties are involved in a surety bond – the principal, the obligee, and the surety. The principal purchases the surety bond to guarantee quality and completion of contracted work. The obligee is the entity who requires the principal to purchase the bond and the surety is the entity that issues the bond and financially guarantees the principal’s ability to complete the contracted work. If the principal does not complete the work as contracted, the obligee can make a claim for payment from the bond up to but not exceeding the bond amount. The agents at Growers Choice can work with you to better understand surety bonds, evaluate, and qualify you for a bond, and underwrite and issue a bond. Contact us today to get started!

Business Interruption Insurance

Business interruption insurance, also known as business income coverage, helps replace lost income and pays for extra expenses when a business is affected by a covered claim. This is typically part of a business owners insurance policy but is also offered separately. Claims made for business interruption insurance typically include fire, theft, wind, falling objects, or lightening. What is covered under business interruption insurance can include revenue, mortgage, rent, lease payments, loan payments, taxes, payroll, relocation costs, extra expenses, and training costs. Don’t wait until something bad happens to your business, start protecting your company now with business interruption insurance by Growers Choice.

Commercial Umbrella Insurance

Get the extra protection your business needs to help cover a claim that exceeds the limits of certain liability policies with Commercial Umbrella Insurance. This includes general liability insurance and commercial auto insurance. Without this type of coverage, you would have to pay out of pocket for costs that are over your policy limits. That can include legal costs, medical bills, damage to other people’s property, judgements, and settlements. Companies who frequently interact with customers, work on someone else’s property, or allows the public to visit during business hours have increased risk of bodily injury and should get commercial umbrella insurance coverage. Get a custom quote from Growers Choice today.

If you don’t see what you need, please let us know. Your business is very important to us. If you have questions or would like to know about all the policies that we offer, please contact our office or click here for a free quote!

Our Business Insurance Carriers

We work with many different insurance companies to ensure we find the right insurance rate for you, your needs, and your budget.

Frequently Asked Questions

What’s the most my business could be liable for?

This can vary from business to business, but what matters is that you can budget with confidence. Your monthly payments are fixed and capped as long as your enrolment and benefits do not change – shielding your business if you need to cover a large bill.

What kind of doctor and hospital network is available?

Because we offer many plan designs nationwide, we work with multiple nationwide and local networks to ensure you have a network option suitable in your area – whether you want to maximize choice, minimize price, or meet somewhere in the middle. Reference-based pricing plans without a network are also available, talk to a Growers Choice agent today to learn more.

How does business insurance work?

Business insurance is a contract between the insurance company and the business. The insurance company agrees to provide financial protection in the event of a specified loss in exchange for premium payments. At the time of a loss, the business will file a claim.

An adjuster will assess the damage and process the claim. The company will then receive the appropriate amount of compensation for the loss, less any deductible.

There are many different scenarios with regard to business risk and how insurance claims are filed. If the incident is a loss suffered by a customer of the company, the injured party is likely to file a claim against the business’s liability policy.

How the claim is processed depends upon the size of the claim, whether the matter can be settled with an insurance payment, and if the claim results in a lawsuit.

Is business insurance tax deductible?

Business insurance is tax-deductible, as long as the coverage is for the purpose of operating a business, profession, or a trade. Businesses may not deduct their business insurance premiums if the coverage is for the purpose of a self-insurance reserve fund or a loss of earning insurance policy. Consult your tax professional for advice.

What does business insurance typically cover?

Business insurance can help pay the costs of property damage, lawsuits, lost business income, and other covered losses. To help protect against specific risks unique to their situation, businesses often buy multiple coverages and combine several in one policy.

What drives the cost of business insurance coverage?

The cost of insurance is based on a range of factors including the following:

The value of the company assets you wish to insure.
Number of employees.
Specific risks associated with your industry.
Your personal risk tolerance and the amount of liability protection you prefer.

Do I need business insurance if I’m a sole proprietor?

Yes. As a matter of fact, sole proprietors are personally responsible for their business’s debts. This means their personal assets, such as bank accounts or property, might be targeted to satisfy an outstanding business debt. Accidents are unavoidable, but the financial impact they can cause is something you should plan for no matter how small your business is.

We know all about our customers’ insurance needs because we’re from around here, too!

Growers Choice Insurance provides business insurance services to the following areas:

- Bay County: Auburn, Bay City, Bentley, Essexville, Kawkawlin, Linwood, Munger, and Pinconning
- Arenac County: Au Gres, Omer, Standish, Sterling, Turner, and Twining
- Midland County: Coleman, Edenville, Hope, Midland, and Sanford
- Saginaw County: Birch Run, Brant, Bridgeport, Burt, Carrollton, Chesaning, Frankenmuth, Freeland, Hemlock, Merrill, Oakley, Saginaw, and Saint Charles

What Our Clients Are Saying…

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