Property & Liability Insurance in Michigan
Protect your business and peace of mind with comprehensive Property & Liability Insurance from Melton McFadden. Our tailored coverage safeguards your physical assets—from buildings and equipment to inventory—while also offering crucial protection against claims for bodily injury, property damage, and legal defense. With flexible policies and expert guidance, we help Michigan businesses stay secure, compliant, and ready for whatever comes your way.
What is Property & Liability Insurance?
Running a business means being ready for the unexpected—whether that’s a fire, theft, a customer slip-and-fall, or a claim that your ad looked a little too familiar. Property and liability insurance can help cover the financial hit so your business can bounce back fast.
Property Insurance
Property insurance covers the physical assets of your business—whether you own your building or not. Coverage can include your:
- Buildings
- Furniture and fixtures
- Inventory and supplies
- Office equipment
- Materials stored both on-site and off-site
If you lease your space, you’ll still need contents coverage. You can choose between:
- Replacement Cost Coverage: Pays for brand-new items to replace what was lost or damaged. Premiums are higher, but it helps you recover faster.
- Actual Cash Value (ACV): Pays only for the depreciated value of the property.
If you lease any equipment, the leasing company may require you to insure it at full replacement value.
Liability Insurance
Liability insurance helps protect your business when you’re held legally responsible for damage, injury, or financial loss caused to others. It generally covers legal defense fees, settlements, and court judgments, up to the limits outlined in your policy.
Bodily Injury
Covers medical costs, lost wages, and even funeral expenses if someone is injured due to your business operations.
Property Damage
Pays for repairs or replacement if your business causes damage to someone else’s property, or even the loss of use of that property.
Products and Completed Operations
If a customer is injured due to your product or a completed service, this coverage helps pay for legal and damage claims related to that incident.
Contractual Liability
Covers liability you assume when signing contracts, like leasing a commercial space.
Liquor Liability
Even if you’re not in the alcohol business, this protects you if you’re held liable for a liquor-related incident (such as at a company event or office party).
Hired & Non-Owned Auto Liability
Hired Auto coverage supplements or replaces the liability insurance from a rental agency.
Non-Owned Auto protects your business if an employee causes an accident while using their own vehicle for business purposes.
Medical Payments
Covers medical or funeral expenses (up to policy limits) if someone is injured at your business—regardless of fault. For example, if a customer trips and requires hospitalization.
Personal & Advertising Injury
Most general liability policies also cover:
Personal Injury
Protection if you’re accused of:
- Libel or slander
- Violating someone’s privacy
- False arrest or detention
- Malicious prosecution
- Wrongful eviction
Advertising Injury
Covers claims involving:
- Libel or slander in ads
- Privacy violations in ads
- Copying a competitor’s ad idea or branding
- Copyright or slogan infringement
Need help finding the right coverage?
Melton McFadden can help you understand your options, compare rates, and build a custom policy that protects every corner of your business.
Let’s chat—we’re just a call or click away.