Learn about business insurance requirements and the most common policies for nurses in Michigan.
Whether you're a registered nurse (RN), nurse practitioner (NP), or licensed practical nurse (LPN), contracts and state laws will require you to carry certain types of insurance.
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.
Commercial vehicles and vehicles used primarily for work must be covered by commercial auto insurance. This policy helps cover legal costs and medical bills in the event of an auto accident.
Nurses in Michigan most often buy the following types of insurance. Which policies you need depends on the specifics of your business, such as the number of employees, ownership of a business vehicle, and the terms of any leases or contracts.
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.
Nurses sometimes qualify for a business owner’s policy (BOP). This package helps your business save money by bundling commercial property insurance with general liability coverage at an affordable rate.
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 insurance.
Professional liability insurance 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. This policy is sometimes referred to as medical malpractice insurance.
Commercial auto insurance helps pay for medical bills, legal fees, and property damage when a business vehicle is involved in an accident.
Nurses handle sensitive patient information on a daily basis, which is why cyber liability insurance is so important for this profession. This policy helps cover the costs of data breach notifications, fraud monitoring services, and other necessary responses to data breaches and cyberattacks.
According to an analysis of Insureon applications, nurses 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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