Have you thought about what would happen to your family if something happened to you? Would they be financially secure? The Great Michigan Insurance of Marshall, MI can provide life insurance to protect your family.

What is life insurance? It is a contract between the insurance company and a policyholder, where the insurance company promises to pay the designated beneficiary an amount of money upon the insured’s death. Based on the contract, terminal or critical illness could also force payment.

Life insurance protects your beneficiaries from the potentially disastrous financial losses that could result if the unmentionable happened. It would provide financial security, help to pay living expenses, pay off debt, and help to pay any medical costs or final expenses.

There are three types of life insurance:

• Term life insurance is a simple form of life insurance. A premium is paid for a period of time, usually ten to thirty years. A cash benefit is paid to the beneficiary if death occurs during that time.
• Whole life insurance is a policy that is guaranteed to remain in effect for the insured’s lifetime as long as the premiums are paid or to the policy’s maturity date.
• Universal life insurance is permanent life insurance. The insured person is covered for their entire lifetime.

You typically pay much less for insurance at a young age. If you wait until age 40 or even 60, the price increases. As we age, the risk of developing health conditions increases, which could result in higher life insurance rates.

So don’t jeopardize the financial future of your loved ones. Make sure you have enough life insurance to ensure they can live as before you passed. The insurance professionals at Great Michigan Insurance of Marshall, MI can provide a quote or answer any questions you may have to get you started. Contact our team today.

There’s a lot to consider for commercial insurance policies in Marshall, MI. Where is your business located? What type of business do you have? How many employees do you have? These factors play a role in deciding which commercial insurance policy is right for your business.

To help you make the best decision for your business, we’ve put together a list of things to consider when choosing commercial insurance policies in Marshall, MI:

Type of business:

This determines the type of coverage you need. For example, if you have a manufacturing business, you’ll need different coverage than a retail business.

Location of business:

This is important because it will determine your business’ risks. If you’re in a high-crime area, you’ll need different coverage than in a rural area.

Size of business:

This affects the amount of coverage you need. A more significant business will need more coverage than a smaller business.

The number of employees:

This will also determine the amount of coverage you need. The more employees you have, the more coverage you’ll need.

Great Michigan Insurance can help you determine your business’s best commercial insurance policy.

Standard Commercial Insurance Policies

Now that you know what to consider when choosing commercial insurance policies in Marshall, MI, here are some of the most common types of coverage:

Property insurance:

This type of coverage protects your business property from damage or theft.

Liability insurance:

This type of coverage protects your business from lawsuits.

Workers’ compensation insurance:

This type of coverage protects your employees if they’re injured on the job.

Product liability insurance:

This coverage protects your business from lawsuits if a product you sell causes injury or damage.

Business interruption insurance:

This coverage protects your business if it has to stop operations because of a covered event.

Great Michigan Insurance can help you find the right commercial insurance policy for your business. Call us today.

No one ever expects terrible things to happen. But they do, often without warning. That’s why insurance is crucial – to help protect you and your loved ones from the unexpected. One type of insurance that is often overlooked is umbrella insurance. Umbrella insurance provides extra protection in case something happens that your other policies don’t cover. Umbrella insurance can help you protect your assets from the unexpected.

1. It Can Provide Coverage for Libel and Slander

One of the most common ways umbrella insurance is used is to provide coverage for libel and slander. If you are accused of either of these, your umbrella policy can help cover the costs of defending yourself and any damages that may be awarded. In addition, libel and slander are not typically covered by standard homeowners or auto insurance policies.

2. It Can Provide Coverage for Certain Types of Lawsuits

Another common way umbrella insurance provides coverage for certain types of lawsuits. If you are sued for something not covered by your other policies, your umbrella policy can help pay for the costs of defending yourself. Medical bills. Great Michigan Insurance in Marshall, MI can help you get the coverage you need to protect your assets from the unexpected.

3. It Can Provide Coverage for Certain Types of Accidents

Umbrella insurance can also help protect you from certain types of accidents. For example, if you are involved in a car accident, and it is determined that you are at fault, your umbrella policy can help pay for the other driver’s damages up to your policy limit. In addition, if you are sued due to the accident, your umbrella policy can help pay for your legal fees.

Contact Us

Umbrella insurance is a type of insurance that can provide extra protection in case something happens that your other policies don’t cover. It can help protect you from libel and slander, certain types of lawsuits, and accidents. Contact Great Michigan Insurance in Marshall, MI to get the coverage you need to protect your assets from the unexpected.

Condos are a great way to break into the housing market in Marshall, MI. A condo certainly is a home, but condo insurance is not the same as home insurance. Knowing what is covered and, more importantly, what isn’t covered, is vital for your peace of mind and protection. At Great Michigan Insurance, we have a team of agents who know condo insurance and can help ensure that you have the coverage you need.

The exterior of your condo

Your condo insurance does not cover the exterior of your condo. That is covered by the master policy that your condo association carries on the complex. How far it covers the building differs from policy to policy. It is vital that you read your policy from the association so that you have the right coverage when you purchase your personal condo insurance. 

Termite damage

Termite damage is considered owner neglect, and depending on how deep into the building the condo association policy goes, they may be responsible. This is another thing you need to double-check to make sure if you should be doing the termite treatment. 

Flooding

Floods are not covered by condo insurance. If you live in an area where there is the potential for a body of water to flood your unit, you should have additional flood insurance through the NFIP. 

Earth movement

Your condo insurance policy does not cover any earth movement. That includes not only earthquakes but also sinkholes, mudslides, and landslides. As long as the earth is moving, it isn’t covered. 

Sewer backup

If your sewer backs up into your unit, it will cause a very disgusting mess, and even more upsetting is that your condo insurance won’t cover it. 

Contact Great Michigan Insurance in Marshall, MI to get the condo insurance coverage that your home requires.

Also known as permanent insurance, whole life is the most commonly sold life insurance in the United States. Compared to term life insurance, where the policy is only active for a specific period – usually 10, 20, or 30 years. Whole life insurance costs more money than term life insurance, but this is because the death benefit never expires – as long as the premium is paid – and it includes a cash value component that can earn interest and grow in value over time. 

Advantages of whole life insurance include that it is permanent, predictable in that the beneficiaries know what amount of money they’ll receive, and includes tax benefits that defer any gains in interest. The savings portion can be borrowed against as a loan if needed. However, if you need to borrow against the loan, it is not without repercussions, including reducing the death benefit if it is not repaid before the policyholder passes. 

While there are numerous benefits to whole life insurance, it does come with a few disadvantages. For starters, whole life insurance is costlier than term life insurance because it includes an investment component and covers your entire life. Second, the insurance company has control over the cash value of your account and can invest it how they choose, so savvy investors who repeatedly beat market returns may not appreciate the limited control they have of this portion of their life insurance account.

At Great Michigan Insurance in Marshall, MI, our friendly and knowledgeable team of insurance professionals is ready to help with your life insurance needs. Give us a call today to learn more information.

Small businesses are vulnerable to a great many risks. Many will fail in the first few years and by year 10, that number rises to 65%. By having the right commercial insurance, you can at least have a fighting chance of surviving. At Great Michigan Insurance in Marshall, MI, we want to help your small business thrive, and we will take the time to get to know you and your business so that we make sure you have the protection you need.  

Commercial liability insurance is one type of insurance that every business needs to have. Getting sued is one way your business can be damaged beyond repair. Every year more than 30% of businesses are sued or threatened with a lawsuit. Losing a case can force your business into bankruptcy if you don’t have the money or assets to pay. Commercial liability insurance can mitigate the risk of a lawsuit and can even pay for your legal expenses. It can save your business from being forced to close. 

Commercial property insurance protects the property you need to do business. Even if you rent your space, it can save you by covering the things you need to do business, like your computers, office equipment, machinery, inventory, supplies, tools, and more. You can’t operate your business without the things you need to do business. 

Business interruption insurance can make sure that even though you can’t do business at the moment because of a covered hazard, you will still be able to pay your bills and your payroll until you can open your doors again. It makes the difference between surviving a hazard and being closed forever by a hazard. 

Contact Great Michigan Insurance in Marshall, MI when you are ready to discuss your commercial insurance needs. Call us to make an appointment or drop in if you are in the neighborhood.