It’s not enough to have life insurance. It’s important to have the correct amount for YOUR needs and goals.
Click over to our calculator to get a quick estimate of your proper coverage amount.
If you have further questions, contact us today at 248.682.7445 or owen@pkig.com
Category: Insurance
Who Needs Commercial Insurance in West Bloomfield, MI?
If you are a resident of the city of West Bloomfield, MI, and want to know more about commercial insurance as it applies to you in this area, you should think about what an agency such as Phil Klein Insurance Group has to offer.
If you own a business in the state of Michigan, you are generally going to need to have commercial insurance. Specifically, you will need general liability insurance. This type of coverage will protect business owners from either indirect or direct damages. If your business is responsible for actions that end up causing damages to other parties or your own employees, general liability coverage will protect you here. It pays for both personal injuries and property damage. Personal injuries can involve visitors, customers, and even subcontractors.
Although the majority of business owners in Michigan are required to have some type of commercial insurance, they will have some options. They have a choice when it comes to policy limits and insurance deductibles within their commercial insurance coverage.
Many different types of business owners in Michigan will need to get commercial insurance. These include restaurants, contractors, retail stores, healthcare institutions, and many more. Some business owners may see this requirement as a burden, but the truth is that it can be very helpful in the right circumstances. You may not think that anything will happen if you are careful, but the truth is that you sometimes cannot control every event. You will be grateful that you have insurance when you end up needing it.
If you live in West Bloomfield, MI, and are in need of information about commercial insurance, you should feel free to contact the professionals at Phil Klein Insurance Group. They will be able to answer questions that you might have about commercial insurance and perhaps help you figure out what the right policy will be for your business.
Do you need life insurance?
At PKIG, one of our main goals is to simplify insurance concepts as much as possible for our clients. There are a LOT of reasons to purchase life insurance and a LOT of different kinds of policies. It can be very confusing.
Some of these reasons are for more sophisticated concepts such as estate or retirement planning. PKIG can help with nearly any type of scenario.
That said, the key question to determine whether you need life insurance or not is would your death result in financial strain for another person? If the answer is yes in any capacity, you likely need life insurance of some sort.
You might think the process to qualify and purchase a policy is invasive and challenging but that’s not the case. In fact, you can buy a policy online without a medical exam or phone interview in just a few minutes. Just click here to try it out.
If you’re not quite ready to pull the trigger and need a more detailed consultation, please call us at (248) 682-7445 or email info@pkig.com today.
Phil Klein Insurance Group Can Meet All Of Your West Bloomfield Insurance Needs.
Phil Klein Insurance Group serves the community with quality and easy to purchase insurance policies. If you own your own business of any size commercial insurance is important for your personal safety and the protection of any employees. If you living in or around the West Bloomfield, MI area and have any questions about commercial insurance call us today.
Frequently Asked Questions About Commercial Insurance:
- Is commercial insurance a legal requirement in Michigan? Yes workers comp insurance is required if you have one or more employees. And commercial vehicle insurance is required your business has even one vehicle for company use.
- How much coverage does my commercial vehicle need? You must insure your commercial vehicle with at least bodily injury. If you drive your personal vehicle for work tasks, even if it is not set aside as company assets you should increase the insurance coverage. This is even more applicable if you have an employee that rides in or drives your personal vehicle during work hours.
- Will the minimum requirements be enough to protect my business if needed? That depends on your unique business situation. For example, if you work mainly online with minimal driving then you may want to put more resources towards a cyber liability insurance policy. If you are at risk for litigation because you are in the public eye you may want to add an umbrella policy to protect yourself. You know the risks of running your business better than anyone. We will be happy to answer any specific coverage questions.
If you own a business of any size in or around West Bloomfield, MI give us a call at Phil Klein Insurance Group. We can answer any questions you may have about commercial insurance and provide you with any of your insurance needs.
Importance of Commercial Liability Coverage for Your Small Business
Small businesses need well-balanced commercial coverage to protect their interests. Commercial liability is an important part of that coverage. Commercial liability insurance protects your small business against accidental injuries that may occur on your business property. Here’s why liability coverage from Phil Klein Insurance Group is so important to your small business.
Protection against Liability Claims
If your company is open to receiving customers or clients, there’s always the risk of someone having an accident while visiting your business site. If you’re found responsible for the accident, your business may have to pay for medical costs. General liability insurance covers these expenses so they don’t come from your business assets.
Accidents can cause all manner of injuries ranging from cuts and lacerations to broken bones, back injuries, concussions, and more. General liability helps pay for doctor bills, hospital bills, medications, and therapy, if needed, to help an accident victim recover.
Protection against Lawsuit
In today’s business world, lawsuits are extremely common. If an accident in your small business leads to a lawsuit, it could cost you a substantial amount of money in legal fees alone, not to mention a settlement if you lost. General liability insurance protects your business against a lawsuit by covering your legal fees and settlement, if you lose, up to the limits of your policy.
Product & Professional Liability
If your company produces or sells products, product liability is a must. This coverage protects your assets if your product causes customers injury or harm. If you provide a professional service, professional liability insurance can protect you against claims of negligence in the services you provide.
To learn more about commercial liability coverage or to purchase liability coverage for your small business in West Bloomfield, MI, contact Phil Klein Insurance Group today.
Protecting Your Business During Civil Unrest & Riots
Civil unrest can create unique challenges for Michigan businesses. Specifically, business owners face the risk of vandalism, stolen or damaged goods and extensive property damage. With this in mind, it’s crucial to take steps to mitigate the risk of potential damages to your business during periods of civil unrest.
Review the following guidance to help keep your business protected in these situations.
Stay Informed
First and foremost, make sure you stay informed via local Detroit or Grand Rapids authorities, news outlets and social media on potential events or issues that could lead to civil unrest within your community. This practice will allow you to be more aware of when civil unrest is most likely to occur and take a proactive approach to protecting your business.
Assess Property Vulnerabilities
Next, it’s important to assess your business property for potential vulnerabilities. In doing so, you will be able to better determine where to focus your mitigation efforts.
Be sure to conduct a thorough inspection of both your own property and the surrounding area—including neighboring businesses, parking lots, alleys and streets—for specific risk management issues (e.g., gaps in security measures, potential traffic or crowding concerns, the type of property at risk and concerns for employee and customer safety).
Protect Your Property
After assessing potential vulnerabilities, make sure you implement adequate security measures to help keep your business fully protected. Potential security practices to consider include:
• Utilizing security cameras
• Implementing an intruder alarm system
• Boarding up property windows and doors
• Ensuring proper locks on all windows and doors
• Installing motion-sensing external lighting and glass break sensors
• Hiring security guards
Remove Valuables
Try to remove as much cash, merchandise and high-value supplies or equipment from your property as possible. In particular, if your business utilizes a fleet of vehicles, consider moving them to a temporary, secure storage location. This way, you will be able to proactively minimize your losses in the event that your business is targeted.
Further, consider utilizing signage to communicate that money and high-value items have been removed from the premises to help deter potential thieves.
Alter Business Hours
If you suspect that that civil unrest could take place near your property, consider temporarily altering your business hours (e.g., opening or closing earlier than normal) to avoid putting your employees and customers in a dangerous situation. However, make sure you properly communicate these changes with your staff and customers to prevent any confusion. In some cases, it may make sense to temporarily close your business.
Avoid Unnecessary Conflict
In the event that civil unrest takes place while your business doors are open, it’s crucial to educate your staff on how to respond appropriately and avoid unnecessary conflict. Establish an evacuation plan that allows for employees and customers to safely leave the area during a dangerous situation. Designate specific staff to be responsible for securing the property (e.g., locking doors and boarding up windows) before evacuating.
If a potentially dangerous individual confronts any of your employees before an evacuation can occur, encourage them to react calmly and avoid using violence or responding aggressively. Designate specific staff to be responsible for contacting the local authorities or emergency services, if necessary. If the individual attempts to loot or rob your business, allow them to do so—no items are worth the risk of an employee injury or fatality.
Consult Local Authorities
Be sure to express any concerns you have regarding civil unrest in your community with local authorities—including the police department, fire department and government officials—and utilize any resources or guidance that they provide. Consider requesting additional police presence or temporary street closures near your business if you are particularly concerned about the threat of civil unrest.
Secure Proper Insurance
Apart from these loss control methods, you can ensure ultimate protection during periods of civil unrest by securing proper commercial insurance coverage. For additional risk management guidance and insurance solutions, contact PKIG today.
Commercial Insurance Options To Consider
Your business is the culmination of hard work, determination, and the investment of time and money. It represents so much more than a way to earn a living. It is a reflection of yourself. With so much poured into your company, it is important to do what you can to protect it. One of the best ways to do this is with a form of commercial insurance. However, there are all kinds of commercial insurance options and add-ons. With so many options to choose from you’ll need some help selecting the right insurance for your commercial business. At Phil Klein Insurance Group, if your business is located near West Bloomfield, MI the staff here is ready to help you find the right insurance coverage for your company.
Property Insurance
Even if you don’t own the facility your business is in you should consider property insurance. This will protect the equipment that is found within the building. This way, if there is a fire or other kind of damage, your equipment will be protected.
Worker’s Compensation
This is a valuable form of insurance to take out if you have employees who are a potential risk of injury. Paying for their medical bills out of pocket is especially expensive. Worker’s compensation will help cover this.
Protect Your Business With Commercial Insurance
It doesn’t matter if your business is run out of a garage or a hundred thousand square foot warehouse. With so many different variables at play, you need to do what you can to protect it. That is why there are all kinds of commercial insurance options to choose from. So, if your business is based out of West Bloomfield, MI and you’re in search of commercial insurance coverage, our staff here at Phil Klein Insurance Group is ready and waiting to help. Give us a call today.
COVID-19 Paycheck Protection Program: What You Need To Know Now
Through the Paycheck Protection Program (PPP), the U.S. Treasury Department has established a $349 billion fund that is available to help small businesses and the millions of small business employees across Michigan and the United States. The goal is to keep as many people employed during the pandemic shutdowns as possible. The program provides forgivable loans of up to $10 million, through approved lenders, to companies with less than 500 employees.
Take Advantage Today
Any small business that affirms that “current economic uncertainty” makes the aid necessary to support their “ongoing operations” is eligible.
Aid will be given on a first-come, first-serve basis until the fund is exhausted – the application window opened on April 3rd and loans are already being disbursed, but there’s still time! It’s also possible the fund will be supplemented by further government action.
The loans are forgivable and will allow small business owners to pay for up to eight (8) weeks of payroll costs if they use the money to retain workers or hire back positions they had to cut. Other expenses like your mortgage interest, rent, and utilities are also eligible for forgiveness. Some restrictions apply so make sure to check out the resources below and confirm the terms of forgiveness with your lender. Many of the usual requirements for these loans have been cut to streamline the process. There is still quite a bit of paperwork but we think it’s more than worth it for this unique offer.
How to Get Started
You have to apply through a bank or other lender, so contact yours today and mention the Paycheck Protection Program or do an online search for their application.
If your current bank is not an eligible lender, contact a nearby eligible bank using this search tool. More key information on who can and how to apply can be found here.
Gather your documents—each lender will have their own application, but you should begin collecting records of payroll, rent, and utilities.
Here is a short video our own Christina Welch with more information.
When is commercial insurance needed in Michigan?
If you are in the West Bloomfield MI area and are looking for a new career path, starting your own business could be a great option. When you have a business here, you can benefit a lot from a good local economy and a growing population. If you do want to start a company here, you need to carefully consider all of your commercial insurance needs. There are several situations when you may need commercial insurance in this area.
When Staff is Hired
One situation when you are going to need to have commercial insurance is when you have employees working for you. Those that have employees on their payroll are required by the state to have workers compensation insurance, which ensures someone is covered if they are hurt while working. Those that have employees and do not provide this insurance could face serious penalization.
Lenders and Stakeholders
Many businesses need to get commercial insurance because of requirements set forth by their lenders and other stakeholders. Having commercial insurance can help to ensure a company remains solvent during some challenging times. Due to this, a lender will require that a business carry this insurance as it will help to protect their investment. Most lenders will also escrow for annual payments.
Those that have a business in the West Bloomfield MI area need to take their commercial insurance needs seriously. When you are looking for this form of insurance, it would be beneficial to reach out to the Phil Klein Insurance Group. The insurance team at the Phil Klein Insurance Group knows very well how important it is for a business owner to get a commercial insurance policy. They can review your situation and risks and help you to get into an appropriate insurance policy.
PKIG Winter Driving Tips
Severe weather can be both frightening and dangerous for travelers. Winter storms, bad weather and sloppy road conditions are a factor in nearly half a million crashes and more than 2,000 road deaths every winter, according to research by the AAA Foundation for Traffic Safety. Drivers should know the safety rules for dealing with winter road emergencies. PKIG urges drivers to be cautious while driving in adverse weather.
PKIG & AAA recommends the following tips while driving in snowy and icy conditions:
Cold Weather Driving Tips
•Keep a bundle of cold-weather gear in your car, such as extra food and water, warm clothing, a flashlight, a glass scraper, blankets, medications, and more. Stop in to our office for a scraper or car emergency tool.
•Make certain your tires are properly inflated and have plenty of tread.
•Keep at least half a tank of fuel in your vehicle at all times.
•Never warm up a vehicle in an enclosed area, such as a garage.
•Do not use cruise control when driving on any slippery surface, such as on ice and snow.
Tips for Driving in the Snow
•Stay home if you can and only go out if necessary. Even if you can drive well in bad weather, it’s better to avoid taking unnecessary risks by venturing out.
•Drive slowly. Always adjust your speed down to account for lower traction when driving on snow or ice.
•Accelerate and decelerate slowly. Apply the gas slowly to regain traction and avoid skids. Don’t try to get moving in a hurry and take time to slow down for a stoplight. Remember: It takes longer to slow down on icy roads.
•Increase your following distance to five to six seconds. This increased margin of safety will provide the longer distance needed if you have to stop.
•Know your brakes. Whether you have anti-lock brakes or not, keep the heel of your foot on the floor and use the ball of your foot to apply firm, steady pressure on the brake pedal.
•Don’t stop if you can avoid it. There’s a big difference in the amount of inertia it takes to start moving from a full stop versus how much it takes to get moving while still rolling. If you can slow down enough to keep rolling until a traffic light changes, do it.
•Don’t power up hills. Applying extra gas on snow-covered roads will just make your wheels spin. Try to get a little inertia going before you reach the hill and let that inertia carry you to the top. As you reach the crest of the hill, reduce your speed and proceed downhill slowly.
•Don’t stop going up a hill. There’s nothing worse than trying to get moving up a hill on an icy road. Get some inertia going on a flat roadway before you take on the hill.
Tips for Long-Distance Winter Trips
•Be Prepared: Have your vehicle checked by a AAA Approved Auto Repair facility before hitting the road.
•Check the Weather: Check the weather along your route and when possible, delay your trip if bad weather is expected.
•Stay Connected: Before hitting the road, notify others and let them know your route, destination and estimated time of arrival.
If you get stuck in the snow:
•Stay with your vehicle: Your vehicle provides temporary shelter and makes it easier for rescuers to locate you. Do not try to walk in a severe storm. It is easy to lose sight of your vehicle in blowing snow and become lost.
•Don’t over exert yourself: When digging out your vehicle, listen to your body and stop if you become tired.
•Be Visible: Tie a brightly colored cloth to the antenna of your vehicle or place a cloth at the top of a rolled up window to signal distress. At night, keep the dome light on if possible. It only uses a small amount of electricity and will make it easier for rescuers to find you.
•Clear the Exhaust Pipe: Make sure the exhaust pipe is not clogged with snow, ice or mud. A blocked exhaust pipe can cause deadly carbon monoxide gas to leak into the passenger compartment of the vehicle while the engine is running.
•Stay Warm: Use whatever is available to insulate your body from the cold. This could include floor mats, newspapers or paper maps. Pre-pack blankets and heavy clothing to use in case of an emergency.
•Conserve Fuel: If possible, only run the engine and heater long enough to remove the chill. This will help to conserve fuel.
