No single policy covers every business risk. A BOP can combine general liability, commercial property, and business income coverage, but workers’ compensation, commercial auto, professional liability, cyber, and other policies may need to be added separately.
https://www.sba.gov/business-guide/launch-your-business/get-business-insurance
https://content.naic.org/insurance-topics/business-interruption-and-business-owner-policy
The cost depends on the business’s industry, payroll, revenue, employees, location, property, vehicles, claims history, policy limits, and selected coverage. Businesses with greater exposure generally pay more.
General liability covers claims involving bodily injury, property damage, and certain personal or advertising injuries. Professional liability covers claims that advice, services, errors, or omissions caused a client financial harm.
https://www.sba.gov/business-guide/launch-your-business/get-business-insurance
Michigan does not broadly require every business to carry general liability insurance. However, landlords, clients, general contractors, government programs, and other parties may require it.
General liability insurance commonly covers third-party bodily injury, property damage, personal and advertising injury, and legal defense costs for covered claims. It does not normally cover professional mistakes, employee injuries, vehicle accidents, or damage to your own property.