3 Common Commercial Insurance Risks To Avoid

Posted on August 16, 2021July 29, 2021 by agentinsure

Phil Klein Insurance Group serves the West Bloomfield, MI community. We are an independent insurance agency. We strive to make sure that our client’s needs are met regardless of their situation. We offer our clients flexible policies that evolve over time as their needs change. We work with multiple carriers throughout the Midwest.

Commercial Insurance Risks To Avoid

Commercial insurance gives you a safety net as you handle the daily rights and responsibilities of operating your West Bloomfield, MI business. The policy covers all of your physical property and inventory if it is stolen or damaged. Liability coverage protects your business if one of your customers is injured while visiting your business or using your products. Worker’s compensation protects your business if one of your employees is injured in the workplace. While you analyze which policy is the right fit for your business, avoid these common commercial insurance risks.

Data Breaches

Online transactions happen regularly in today’s marketplace. While technological advancements are an asset, they also come with a lot of risks. You may have your customer’s information stored on your database. This includes sensitive numbers such as credit card numbers and addresses. Hackers attempt to steal this information. Cyber liability coverage can protect your business if you suffer a data breach.

Natural Disasters

Natural disasters such as tornadoes and snowstorms can cause significant damage to your business. Business interruption coverage protects you if your business has to shut down for a few weeks in the aftermath of a natural disaster.

Auto Accidents

If you use vehicles to help operate your business, you need commercial auto insurance. Commercial coverage is the only way to protect your business if you are involved in an auto accident while you are on the job.

Phil Klein Insurance Group Will Help You Protect Your Investment

Visit our website to learn more information about commercial insurance.

PKIG Receives President’s Club Award from Citizens Insurance

Posted on May 28, 2021May 28, 2021 by Owen Rosen

Hanover Insurance Group President’s Club Insignia

PKIG Receives Award for Exceptional Customer Commitment and Service

Agency selected for The Hanover’s President’s Club

PKIG, formerly known as Phil Klein Insurance Group, recently was selected as a participant of The Hanover Insurance Group’s President’s Club, an elite group of independent insurance agencies from across the country.

The Hanover’s President’s Club agencies are recognized for delivering outstanding value to their customers through their insurance expertise and responsive service.

The Hanover partners with a select group of 2,100 independent agents nationwide and only 5% are recognized with this distinction. PKIG was one of the select few independent agencies. This is the 2nd consecutive year PKIG has been selected as a participant of The Hanover’s President Club.

“We are proud to partner with the talented team at PKIG.” said Richard W. Lavey, president, Hanover Agency Markets. “Their deep insurance expertise makes them valued and trusted advisers to their clients, delivering a superior customer service experience.”

The agency will be formally recognized for its selection as a participant of the company’s President’s Club during a national business conference later this year.

“We love our customers and our carriers. Being recognized like this from a top company lie Citizens Hanover is truly an honor” said Phil Klein, CEOat PKIG.

Cyber Insurance Interview with PKIG VP

Posted on April 9, 2021April 9, 2021 by Owen Rosen

Our Vice President of Sales, Terry Bean, joined Mike Brennan and Matt Roush on the M2 Techcast recently to talk all things Cyber Insurance.

This quick conversation details the challenges that many cyber insurance policies help alleviate.

There are some real world stories shared about what can go wrong if you’re not covered. You will also hear a discussion about how checking up on your commercial policy. If you haven’t looked recently (past 4 or 5 years) you may NOT even have this coverage.

Some quick highlights:

* Having Cyber Insurance covers you if there is a data breach and your client’s data gets exposed or compromised.

* Cyber Insurance can cover your lost income that may result from a data breach or other business interruption.

* This can help you get forensic and legal support so the team of investigators can help “catch the bad guy”.

You can watch the whole interview here:

PKIG is a West Bloomfield based independent insurance agency specializing in helping their Auto, Home, Life and Commercial insurance clients find the right coverage at the best value.

You can contact us to learn more about cyber insurance and other coverages by visiting our commercial insurance page.

How much life insurance do I need?

Posted on March 4, 2021March 4, 2021 by Owen Rosen

It’s not enough to have life insurance. It’s important to have the correct amount for YOUR needs and goals.

Click over to our calculator to get a quick estimate of your proper coverage amount.

If you have further questions, contact us today at 248.682.7445 or owen@pkig.com

Who Needs Commercial Insurance in West Bloomfield, MI?

Posted on February 28, 2021March 2, 2021 by agentinsure

If you are a resident of the city of West Bloomfield, MI, and want to know more about commercial insurance as it applies to you in this area, you should think about what an agency such as Phil Klein Insurance Group has to offer.

If you own a business in the state of Michigan, you are generally going to need to have commercial insurance. Specifically, you will need general liability insurance. This type of coverage will protect business owners from either indirect or direct damages. If your business is responsible for actions that end up causing damages to other parties or your own employees, general liability coverage will protect you here. It pays for both personal injuries and property damage. Personal injuries can involve visitors, customers, and even subcontractors.

Although the majority of business owners in Michigan are required to have some type of commercial insurance, they will have some options. They have a choice when it comes to policy limits and insurance deductibles within their commercial insurance coverage.

Many different types of business owners in Michigan will need to get commercial insurance. These include restaurants, contractors, retail stores, healthcare institutions, and many more. Some business owners may see this requirement as a burden, but the truth is that it can be very helpful in the right circumstances. You may not think that anything will happen if you are careful, but the truth is that you sometimes cannot control every event. You will be grateful that you have insurance when you end up needing it.

If you live in West Bloomfield, MI, and are in need of information about commercial insurance, you should feel free to contact the professionals at Phil Klein Insurance Group. They will be able to answer questions that you might have about commercial insurance and perhaps help you figure out what the right policy will be for your business.

Do you need life insurance?

Posted on January 25, 2021January 25, 2021 by Owen Rosen

At PKIG, one of our main goals is to simplify insurance concepts as much as possible for our clients. There are a LOT of reasons to purchase life insurance and a LOT of different kinds of policies. It can be very confusing.

Some of these reasons are for more sophisticated concepts such as estate or retirement planning. PKIG can help with nearly any type of scenario.

That said, the key question to determine whether you need life insurance or not is would your death result in financial strain for another person? If the answer is yes in any capacity, you likely need life insurance of some sort.

You might think the process to qualify and purchase a policy is invasive and challenging but that’s not the case. In fact, you can buy a policy online without a medical exam or phone interview in just a few minutes. Just click here to try it out.

If you’re not quite ready to pull the trigger and need a more detailed consultation, please call us at (248) 682-7445 or email info@pkig.com today.

Phil Klein Insurance Group Can Meet All Of Your West Bloomfield Insurance Needs.

Posted on December 14, 2020November 30, 2020 by agentinsure

Phil Klein Insurance Group serves the community with quality and easy to purchase insurance policies. If you own your own business of any size commercial insurance is important for your personal safety and the protection of any employees. If you living in or around the West Bloomfield, MI area and have any questions about commercial insurance call us today.

Frequently Asked Questions About Commercial Insurance:

Is commercial insurance a legal requirement in Michigan? Yes workers comp insurance is required if you have one or more employees. And commercial vehicle insurance is required your business has even one vehicle for company use.
How much coverage does my commercial vehicle need? You must insure your commercial vehicle with at least bodily injury. If you drive your personal vehicle for work tasks, even if it is not set aside as company assets you should increase the insurance coverage. This is even more applicable if you have an employee that rides in or drives your personal vehicle during work hours.
Will the minimum requirements be enough to protect my business if needed? That depends on your unique business situation. For example, if you work mainly online with minimal driving then you may want to put more resources towards a cyber liability insurance policy. If you are at risk for litigation because you are in the public eye you may want to add an umbrella policy to protect yourself. You know the risks of running your business better than anyone. We will be happy to answer any specific coverage questions.

If you own a business of any size in or around West Bloomfield, MI give us a call at Phil Klein Insurance Group. We can answer any questions you may have about commercial insurance and provide you with any of your insurance needs.

Importance of Commercial Liability Coverage for Your Small Business

Posted on August 31, 2020September 1, 2020 by agentinsure

Small businesses need well-balanced commercial coverage to protect their interests. Commercial liability is an important part of that coverage. Commercial liability insurance protects your small business against accidental injuries that may occur on your business property. Here’s why liability coverage from Phil Klein Insurance Group is so important to your small business.

Protection against Liability Claims

If your company is open to receiving customers or clients, there’s always the risk of someone having an accident while visiting your business site. If you’re found responsible for the accident, your business may have to pay for medical costs. General liability insurance covers these expenses so they don’t come from your business assets.

Accidents can cause all manner of injuries ranging from cuts and lacerations to broken bones, back injuries, concussions, and more. General liability helps pay for doctor bills, hospital bills, medications, and therapy, if needed, to help an accident victim recover.

Protection against Lawsuit

In today’s business world, lawsuits are extremely common. If an accident in your small business leads to a lawsuit, it could cost you a substantial amount of money in legal fees alone, not to mention a settlement if you lost. General liability insurance protects your business against a lawsuit by covering your legal fees and settlement, if you lose, up to the limits of your policy.

Product & Professional Liability

If your company produces or sells products, product liability is a must. This coverage protects your assets if your product causes customers injury or harm. If you provide a professional service, professional liability insurance can protect you against claims of negligence in the services you provide.

To learn more about commercial liability coverage or to purchase liability coverage for your small business in West Bloomfield, MI, contact Phil Klein Insurance Group today.

Protecting Your Business During Civil Unrest & Riots

Posted on June 3, 2020June 3, 2020 by Owen Rosen

Civil unrest can create unique challenges for Michigan businesses. Specifically, business owners face the risk of vandalism, stolen or damaged goods and extensive property damage. With this in mind, it’s crucial to take steps to mitigate the risk of potential damages to your business during periods of civil unrest.
Review the following guidance to help keep your business protected in these situations.

Stay Informed
First and foremost, make sure you stay informed via local Detroit or Grand Rapids authorities, news outlets and social media on potential events or issues that could lead to civil unrest within your community. This practice will allow you to be more aware of when civil unrest is most likely to occur and take a proactive approach to protecting your business.
Assess Property Vulnerabilities
Next, it’s important to assess your business property for potential vulnerabilities. In doing so, you will be able to better determine where to focus your mitigation efforts.
Be sure to conduct a thorough inspection of both your own property and the surrounding area—including neighboring businesses, parking lots, alleys and streets—for specific risk management issues (e.g., gaps in security measures, potential traffic or crowding concerns, the type of property at risk and concerns for employee and customer safety).
Protect Your Property
After assessing potential vulnerabilities, make sure you implement adequate security measures to help keep your business fully protected. Potential security practices to consider include:
• Utilizing security cameras
• Implementing an intruder alarm system
• Boarding up property windows and doors
• Ensuring proper locks on all windows and doors
• Installing motion-sensing external lighting and glass break sensors
• Hiring security guards
Remove Valuables
Try to remove as much cash, merchandise and high-value supplies or equipment from your property as possible. In particular, if your business utilizes a fleet of vehicles, consider moving them to a temporary, secure storage location. This way, you will be able to proactively minimize your losses in the event that your business is targeted.
Further, consider utilizing signage to communicate that money and high-value items have been removed from the premises to help deter potential thieves.
Alter Business Hours
If you suspect that that civil unrest could take place near your property, consider temporarily altering your business hours (e.g., opening or closing earlier than normal) to avoid putting your employees and customers in a dangerous situation. However, make sure you properly communicate these changes with your staff and customers to prevent any confusion. In some cases, it may make sense to temporarily close your business.
Avoid Unnecessary Conflict
In the event that civil unrest takes place while your business doors are open, it’s crucial to educate your staff on how to respond appropriately and avoid unnecessary conflict. Establish an evacuation plan that allows for employees and customers to safely leave the area during a dangerous situation. Designate specific staff to be responsible for securing the property (e.g., locking doors and boarding up windows) before evacuating.
If a potentially dangerous individual confronts any of your employees before an evacuation can occur, encourage them to react calmly and avoid using violence or responding aggressively. Designate specific staff to be responsible for contacting the local authorities or emergency services, if necessary. If the individual attempts to loot or rob your business, allow them to do so—no items are worth the risk of an employee injury or fatality.
Consult Local Authorities
Be sure to express any concerns you have regarding civil unrest in your community with local authorities—including the police department, fire department and government officials—and utilize any resources or guidance that they provide. Consider requesting additional police presence or temporary street closures near your business if you are particularly concerned about the threat of civil unrest.
Secure Proper Insurance
Apart from these loss control methods, you can ensure ultimate protection during periods of civil unrest by securing proper commercial insurance coverage. For additional risk management guidance and insurance solutions, contact PKIG today.

Commercial Insurance Options To Consider

Posted on May 31, 2020May 31, 2020 by agentinsure

Your business is the culmination of hard work, determination, and the investment of time and money. It represents so much more than a way to earn a living. It is a reflection of yourself. With so much poured into your company, it is important to do what you can to protect it. One of the best ways to do this is with a form of commercial insurance. However, there are all kinds of commercial insurance options and add-ons. With so many options to choose from you’ll need some help selecting the right insurance for your commercial business. At Phil Klein Insurance Group, if your business is located near West Bloomfield, MI the staff here is ready to help you find the right insurance coverage for your company.

Property Insurance

Even if you don’t own the facility your business is in you should consider property insurance. This will protect the equipment that is found within the building. This way, if there is a fire or other kind of damage, your equipment will be protected.

Worker’s Compensation

This is a valuable form of insurance to take out if you have employees who are a potential risk of injury. Paying for their medical bills out of pocket is especially expensive. Worker’s compensation will help cover this.

Protect Your Business With Commercial Insurance

It doesn’t matter if your business is run out of a garage or a hundred thousand square foot warehouse. With so many different variables at play, you need to do what you can to protect it. That is why there are all kinds of commercial insurance options to choose from. So, if your business is based out of West Bloomfield, MI and you’re in search of commercial insurance coverage, our staff here at Phil Klein Insurance Group is ready and waiting to help. Give us a call today.