Business insurance: an ounce of prevention better than a pound of cure

Recent surveys of GRSB’s business customers show that some owners and managers are unaware of the breadth of insurance coverage available through the bank’s affiliate, the Grand Rapids State Agency (GRSA). 

“Insurance is not always the first thing a business owner wants to invest in when they start up the business, but prudent managers know they need to manage risk,” said Mike Olson, Agency manager.  “In today’s business climate, a few key insurance policies may be essential prevention against substantial liability issues down the road.”

Grand Rapids State Agency provides property, liability, umbrella and cyber insurance policies. 

  • Property policies cover physical damage or loss to your business’ buildings and personal property.
  • Liability covers against lawsuits and medical claims against your business and profession.
  • Umbrella policies are additional coverage for excess liability to cover claims that are over & above the existing liability limits of the standard commercial policy.
  • Cyber liability covers security and privacy liability in case of a data breach.
  • Health.

While virtually any business can purchase a policy to cover nearly any contingency, Mike listed the types of commercial operations with which the Agency interacts:

  • Contractors (HVAC, construction, plumbing, electrical, etc.)
  • Real estate agencies
  • Retail stores (furniture, shoe, pharmacy, convenience)
  • Restaurants
  • Auto repair shop
  • Auto detailing
  • Hotels & motels
  • Professional service offices (doctors, dentists, attorneys)

“We offer a wide range of policy coverage,” Mike continued.  “Most business owners are not sitting around thinking about their coverage until there’s a claim, so we like to schedule periodic visits or phone contacts with our customers to quickly review their business operations to determine if new coverage is warranted.  It’s a free service and well worth a few minutes of their time every 12 to 18 months.”

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or stop in and ask us for current rates and terms.