As a business owner in Michigan, nobody knows better than you the risks and challenges that come with owning a business. Commercial insurance helps to make the risks more manageable. It is designed to fit your particular business. What is right for one business may be totally wrong for another. Some types of commercial insurance are beneficial to most businesses and others are required by the state. At High Favor Insurance in Birmingham, MI, we are independent agents who understand the importance of commercial insurance to business health. 

Two types of commercial insurance are mandatory in Michigan, workers’ compensation, and commercial auto. Other types of commercial insurance are important to your business even if they are not required. 

Workers’ Compensation

If you have employees, all of them who work 35 or more hours per week must be paid benefits if they are injured on the job. Employees must have the ability to receive reasonable and necessary medical care. Most employers provide this with workers’ compensation insurance but it may also be provided through self-insuring. 

Commercial Auto Insurance

If your business owns vehicles, you must have commercial auto insurance in the amount of 20/40/10. That is $20,000 in injuries per person, $40,000 per accident, and $10,000 for property damage. This is the lower end of the requirements, it likely isn’t the amount you will want to have, 

Coverage not required that you may want to have for your business:

• Business liability insurance
• Business property insurance
• Business income insurance 

Business Owners Policy

Many businesses decide to combine business liability and property insurance into one customizable policy know as a Business Owner’s Policy (BOP). This is usually a cost-efficient way to get this coverage. 

Business Income Insurance

If your business is not able to operate due to a covered incident, this covers payroll, rent, business income, and any other monthly bills your business has. 

Contact High Favor Insurance in Birmingham, MI to discuss your commercial insurance needs. 

Immersing yourself in the Birmingham, MI great outdoors is easy and fun with recreational vehicles. From RV’s to ATV’s and everything in between, explore Michigan and nearby states with a slew of toys. But first, you’ll need recreational insurance to protect your recreational vehicles, yourself, and others. A policy like this will offer coverage for liability, physical damage to vehicles, and bodily injury, for example. 

Not sure where to get started? No worries. High Favor Insurance has put together these three tips to help you navigate the recreational insurance realm.

1. Compare Quotes

An insurance agent will help you find and compare recreational insurance quotes to find the one that matches your needs and price point. It’s always wise to compare several quotes as price and policy coverage differs from policy to policy.

2. Bundle All Your Policies

To earn maximum savings on your insurance premiums, we recommend bundling all your policies under one carrier. This is a great way to earn a discount as insurance companies are known for rewarding their loyal customers. Don’t forget to ask your insurance agent about other savings, such as a senior citizen or family discount. Every little bit helps!

3. Work with a Reputable Agent

Aside from the tips listed above, it’s important to work with a reputable insurance agent who listens, answers all of your questions, and explains each policy you are comparing in great detail. This agent makes recommendations and helps you narrow down your choices to the final one.

To learn more about securing recreational insurance in Birmingham, MI, contact High Favor Insurance today. Our friendly, reputable agents are standing by right now to offer assistance. 

In the Birmingham, MI area, purchasing your own home can be a great long-term option. If you do decide to purchase your own property here, you should also spend time assessing your personal insurance needs. There are many reasons why someone may need to get a condo insurance policy here. 

Insurance is an Association Requirement

One of the main reasons that you need to get condo insurance when you are in Michigan is that it is a requirement of your association. Anyone that lives in a condo that is also part of a condo association needs to spend time assessing their association rules regarding insurance. If you are required to carry condo insurance, it is important that you get into a policy that offers the protection expected by the association. Most of the time, you will need to provide evidence of this coverage regularly.

Insurance Required by Lender

You will also need to get condo insurance because it will be required by your mortgage lender. Any mortgage lender is going to require that you maintain condo insurance at all times. They end up requiring this, and often also escrow for payments, as it ensures their collateral continues to be protected with insurance at all times. 

When you are shopping for condo insurance in the Birmingham, MI area, you need to make sure that you speak with someone that understands this form of insurance. When you call High Favor Insurance, you are going to get the guidance that you need to build a quality policy. The team here will be able to assess your insurance needs to make sure that you get into a policy that meets your needs. High Favor Insurance is able to do this by carefully assessing your personal needs and options.

As a motorcyclist, carrying motorcycle insurance is essential to meeting state insurance coverage requirements. Motorcycle insurance is also important for protecting you financially when you’re riding. At High Favor Insurance, we provide motorcycle insurance to riders in Birmingham, MI.

The following are three add-on features Michigan riders might want to consider adding to their motorcycle insurance policy.

Trip interruption coverage

This type of coverage can be good to add on to your motorcycle coverage if you frequently take long trips on your bike. Trip interruption coverage covers the costs of expenses for lodging or transportation if you’re in an accident far from home and can’t come back on your bike. 

Roadside assistance

Roadside assistance coverage can really come in handy. Regardless of how great your bike’s condition is, you never know when it might break down and leave you stranded. 

When you have roadside assistance coverage, your insurance provider will send out a tow truck to transport your bike to a garage if it breaks down. 

Coverage for custom parts

You might want to consider this type of coverage if you have made some custom upgrades to your bike. Standard motorcycle insurance might not cover the value of these upgrades.

However, if you invest in coverage for custom parts or equipment, your insurance can reimburse you for the value of custom work. This type of coverage can frequently total up to $30,000 in coverage for damage to custom parts, so it may be worth investing in. 

Would you like to explore motorcycle insurance options in Birmingham, MI? At High Favor Insurance, we can provide you with the information you need and answer questions you have. Get in touch with us by visiting our website to learn more. 

In Birmingham, MI, your boat insurance provider will cover most reasonable hazards, but you might find your claim being denied if you don’t practice basic boating safety. Here are some tips:

• Always check the weather beforehand. Even strong winds can make a simple boat trip a lot more dangerous than it needs to be.
• Keep your life jacket on. If you’re on board, there’s no good reason to take it off.
• Take it slow around the docks and other boats. A lot of the damages boats suffer comes from the wake kicked up by passing boats, knocking them into one another.
• Don’t drink and boat. If you’re going to have a few beers while out on a fishing trip, sober up before bringing it home, or have someone else operate the vessel.
• Keep your emergency kit on hand. Water, food, batteries, flashlight, first-aid kit, flares. Keep it on deck, and keep it stocked up.
• Always shut your engine off when approaching swimming areas, and don’t let anyone board or step off of your boat while the engine is idling.
• Make sure that everyone on board is briefed on boat safety. Failing to educate your passengers about the dangers of boating can be read as negligence.
• In the event of a boat capsizing: If someone’s still on the boat, turn the motor off. If not, get everyone away from the boat. Float on your back, do a headcount, and carefully paddle to safety.

If you’re looking to get covered in Birmingham, MI, get in touch with us at High Favor Insurance. Call, stop by the offices, or visit the High Favor Insurance website and let us see what we can do for you.

If you’re renting a home or condo in Birmingham, MI, don’t neglect the benefits that renter’s insurance has to offer. Renter’s insurance from High Favor Insurance protects you against property damage and liability claims that may arise due to mishaps on your rental property. It doesn’t take much for an accident to happen. Liability protects you against slip and falls, kitchen accidents, dog bites, and other accidents that cause injuries or damage to someone’s property. Here’s what to expect from renter’s liability coverage in Birmingham, MI.

Financial Protection for Liability Claims

Personal liability insurance is an essential part of your renter’s policy. It protects you against accidental injuries or property damage to others when people visit your property. If a friend trips on your dog and falls down the stairs, you can be held responsible for his medical costs. Liability insurance protects you financially by paying your friend’s medical expenses. If your friend was carrying their laptop at the time and it gets damaged or destroyed in the fall, liability insurance will help pay for its repair or replacement cost.

Liability coverage protects you against accidents inside your rental home as well as in the yard or driveway. It covers accidents you or your children may cause while playing sports or incidents that may occur during a party. It also includes incidents involving your pet, such as dog bites.

Financial Protection for Lawsuits

If an accident leads to a lawsuit, renter’s liability insurance will help cover your legal costs and settlement, if you lose your case, up to the limits of your policy. Liability coverage only protects you against accidental mishaps, not events that are intentional.

To learn more about renter’s liability coverage and all that it has to offer, call, or visit High Favor Insurance in Birmingham, MI today.

People who are shopping for commercial insurance may be uncertain about the amount of coverage that is adequate for their needs. One question that many have is how much is enough and should the amount of the policy exceed the actual value of the insured property.

Property Insurance

When purchasing commercial insurance for a specified property, it is important to consider a few factors first. If the business is located in the same building with other companies, or are located in a strip plaza or mall, they will need a greater amount of commercial insurance. Generally, they should carry a policy that reflects the value of the structure they reside in or around for liability purposes. Those who own a stand-alone business should calculate the value of the building and property, as well as any relevant equipment and supplies that are covered by the policy. Once a figure is drawn, select the next highest level of insurance coverage available. 

Let an Agent Assist You With Selection of a Policy

When sleeting a policy to protect a business or commercial scenario, make sure to work with a licensed and reputable insurance agency with agents who know the ins and out of commercial coverage. Those who own a business near the Birmingham, MI area can count on High Favor Insurance to provide them with answers to questions and high-quality commercial insurance products for all size endeavors. 

Anyone interested in getting the right coverage for their business, should call or stop by High Favor Insurance, serving the Birmingham, MI area to find out more about options and to speak directly with a qualified insurance agent.