Learn about business insurance requirements and the most common policies for nurses in Michigan.
If you have a commercial lease, your property manager may require you to purchase general liability insurance. Commonly purchased by nurses in Michigan, general liability insurance can protect your business from expenses associated with common mishaps, such as client property damage and injuries.
State law in Michigan requires every small business that employs one or more workers for 35 hours per week for 13 or more weeks, or three or more workers at any one time, to provide workers’ compensation insurance, which covers medical bills for work injuries.
General liability insurance is the foundation of a nurse’s business protection, with coverage that extends to client injuries, client property damage, and advertising injuries. Most commercial leases require you to have this coverage.
Also called malpractice insurance, professional liability insurance for nurses protects against claims that your work caused harm. That could include accidentally administering the wrong medication, or a baseless claim that you mistreated a patient.
Businesses in Michigan that employ one or more workers for 35 hours per week for 13 or more weeks, or three or more workers at any one time, are required to carry workers’ compensation coverage. If you are a sole proprietor, the coverage is optional. However, if you slip and break an arm in your office, or injure your back lifting a patient, you can turn to your workers’ comp policy to help pay your medical bills and lost wages.
According to an analysis of Insureon applications, the typical nurse in Michigan can expect to pay more than the national median for most policies. For example, the median annual cost of workers’ compensation insurance for a nurse in the state is $1,319, while the national median is $1,019. The median for a general liability policy in Michigan is more than $1,100, which is significantly more than the national median of $437.
Insureon’s industry-leading technology helps nurses in Michigan save time and money shopping for insurance by comparing policies from top U.S. carriers. Start a free online application to review quotes for the policies that best fit your business. Our insurance agents are licensed in Michigan and can answer your questions as you consider coverage.
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