Learn about business insurance requirements and the most common policies for lawyers in Michigan.
Which policies are required for lawyers in Michigan?
If you have a commercial lease, your property manager may require you to purchase general liability insurance. Commonly purchased by lawyers 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 most small businesses with employees to provide workers’ compensation insurance, which covers medical bills for work injuries.
Note: Insureon cannot provide quotes for professional liability insurance for lawyers, also called malpractice insurance.
What are the most common policies for a Michigan lawyer?
The most common policies for lawyers in Michigan vary depending on revenue, client contracts, partnerships, and other factors.
General liability insurance
General liability insurance is the foundation of a lawyer’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.
Business owner's policy (BOP)
Lawyers often qualify for a business owner’s policy. This package helps your business save money by bundling commercial property insurance with general liability at an affordable rate.
Michigan workers' compensation
If you own a law firm in Michigan that has employees, you are required to carry workers’ compensation coverage if you employ more than three employees at one time, or if you employ one employee for more than 35 hours per week for 13 weeks out of the year. If you are a sole proprietor, the coverage is optional. This policy covers medical expenses and partial lost wages following a work injury.
Cyber liability insurance
Cyber liability insurance can help lawyers survive data breaches and cyberattacks. This policy can help pay for client notification costs, credit monitoring services, and other related expenses.
What do lawyers in Michigan pay for insurance?
The typical lawyer in Michigan can expect to pay close to the national median for most business insurance policies, according to an analysis of Insureon applications.
For example, the median annual cost of a business owner’s policy for a lawyer in Michigan is $1,006, slightly more than the national median of $1,000. However, lawyers in Michigan can expect to pay a median annual premium of $431 for workers’ compensation insurance, much less than the national median of $1,054.
Save time and money with Insureon
Insureon’s industry-leading technology helps lawyers 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.
To make the application go quicker, have this information ready:
- Workforce details, such as the number and types of employees
- Current and projected revenue
- Business partnerships
- Insurance history and prior claims
- Commercial lease insurance requirements
Apply for free insurance quotes for lawyers today.