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Insurance Planning Service Blog: business insurance

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Your employees do a lot for your business. You want to show them that you have their best interests at heart. Offering benefits is one way to do so. image of employees gathered

Not only do you recognize the importance of protecting employees, so does the law. Some benefits are not options, but requirements. Businesses often have to provide certain perks to their employees. These particular benefits often act as valuable personal protection for your workforce.

Required Employee Benefits

Employee benefits usually involve various forms of insurance. Therefore, multiple laws cover whether certain businesses must offer certain benefits. As a business owner, always make sure you provide the benefits required of you. These might include

  • Health Insurance: Many employers have to offer some or all employees health packages. The employer usually shares the cost of the policy with the employee. These packages usually must meet standards set forth in health insurance law. Whether the employee takes this coverage is up to them. However, the employer usually must at least offer it.
  • Workers’ Compensation: If an employee gets hurt on the job, they might have to miss work to recover. This means they might not be able to receive income because they cannot work. Most businesses have to provide workers’ comp as a result. It serves as a way to help an employee receive income while recovering from an injury.
  • Overtime Pay: When certain employees work past their required time, they qualify for more pay.
  • Minimum Wage: Federal and state law require some or all employees to receive pay at a minimum level. The minimum wage is one way of making sure that employees can pay their own bills.

A variety of laws might govern how businesses must compensate their employees. Check your local statutes for more information on the benefits you must offer.

Optional, Additional Benefits

Good perks often provide incentives for your employees to stay with your company. So, most businesses provide a wide range of benefits. Beyond required benefits, additional perks you might offer include

  • Dental insurance for adults (many health insurance plans come with pediatric dental insurance)
  • Paid maternity or paternity leave
  • Paid holidays
  • Club memberships such as gyms or health spas
  • Life insurance and retirement accounts (some states might require this coverage)

And everything from pay raises to severance pay.

When it comes time to setting up your company's benefits plan, talk to your commercial insurance agent at 734-421-9900. They can help you enroll in benefits in compliance with the law. You can then work on offering extra benefits that provide workers with more comfort.

Also Read: Reducing Worker Falls on Icy Outside Surfaces and What to Consider When Launching a New Business


Across America, many employees are injured each year by slipping and falling in or around their workplaces. During the winter, these risks are higher. Cold temperatures and slick, icy surfaces provide more opportunities for workers to lose their balance. This can happen on parking lots, sidewalks or indoors.image of a slippery fall warning sign

Your company’s workers compensation insurance can help cover employee losses should they sustain a fail. This includes compensation for lost time at work and medical bills.

Preventing these accidents, though, is more important. Here’s what to look for to do just that.

Recognize the Risks

Visualize the way your employees come to work each day. They get out of their vehicle and approach the building. Even if they walk less than 10 feet from their vehicle to the office entrance, those 10 feet of concrete, pavement, dirt or grass provide a significant slip-and-fall risk. The individual walks into the building. This floor could be wet due to outdoor conditions. He or she proceeds to enter into the work space. The moisture from his or her shoes comes with them. This presents additional risks.

Tips for Minimizing Risks

To reduce worker fall risks, focus on keeping surfaces as dry as possible. Here are some steps to do this during icy weather conditions.

  • Hire a team to clean away any snow or ice build-up. Be sure the company does this frequently enough to reduce the pile up of snow or ice.
  • If you must, by law, see to certain pathways before others. Take care of those areas first. Then expand your de-icing techniques to other areas as needed.
  • Monitor floor conditions in the building. This is especially true in immediate doorways leading to the outdoors. This area can freeze up as well. This creates more ice.
  • Workers handling business tasks outside need proper shoes. Discuss treads on shoes with employees. Look for products that can reduce slips on icy surfaces. Mark hazardous areas where employees should avoid.
  • Keep carpets and mats clean and dry. No matter where they are in the business, keep them as clean as possible.
  • State laws usually determine whether falls in parking lots are the responsibility of the company. However, most state laws say sidewalk falls are the company's responsibility.

These tips can help reduce worker falls due to wet conditions. However, this is an ongoing problem. Being consistent is essential. Notice areas where the problem continues to persist. Look for more extensive treatment and solutions for these areas. Improving drainage, for example, can help.

If you need workers' compensation insurance coverage, contact one of our agents today at 734-421-9900.

Also Read: Prevent Business Insurance Claims with These Risk Reduction Tips

Posted 2:33 PM


More and more people are choosing to go into business for themselves. Unfortunately, statistics show that many startups fail in the first 18 months.

If you are planning to launch a business, take steps to increase your chances of success. Keep the following tips in mind:

Plan for Every Aspect of Your Business

If you don’t plan for your business, then you are essentially planning to fail. A business plan is a critical component that helps you map out your business success. You can also take note of any risks you face.

With business insurance, you can mitigate risks and maximize opportunities. Business experts recommend business owners have a comprehensive business plan for their business.

Focus on Making Money

One of the most common reasons businesses fail is due to the lack of money. If you are launching a business, it’s imperative that you have a steady stream of business income.

To increase your success, increase your clientele before launching the business. You can also diversify your income. With more clients and a diversified income, you’re insulating your business revenues.

Hire Only When Necessary

Many business owners fail to run a tight ship. A feeling of inefficiency causes them to hire too many people in the beginning. When you hire too many people, you're tying up your working capital.

To prevent this, only hire people when you are growing. With a tighter ship, you’ll save money, and you’ll have more control over your business.

Focus on Value, Not Price

Customers are looking for value when it comes to products and services. They don’t want low-quality products at high prices. If you focus on building value into your products and services, your business will grow.

Protect Your Business with Business Insurance

Even with a business plan, you can’t avoid every potential business risk. When you can’t avoid a risk, consider transferring the risk by buying business insurance.

With business insurance, your insurance company bears the risk for you. This protects your business in the end. You should consider commercial property, auto, and general liability insurance for starters. Once you have that, consider industry-specific business insurance options.

You may think the odds of being successful in business are against you,. But, you can do it. Maximize opportunity and reduce the impact of business risks to increase your chances of success.

Insurance Planning Service is here to get you the best form of Michigan business insurance for your startup. If you aren't sure what business insurance you need, give us a call today at (800) 220-5582.

Posted 5:35 PM


There are many instances of data breaches in the news. Cyberattacks can happen on a regular basis. The ramifications often include companies spending huge sums to protect customers, employees, and their image.

NetDiligence estimates the average data breach claim is just under $700,000. Can your business afford to lose $700,000 just to get back to where it was before the data breach? Very few companies can, which is why you need data breach insurance.

Who Needs Data Breach Insurance?

Data breach business insurance helps people protect their businesses from cyberattacks. Although the insurance can’t stop an attack, it helps business owners recover financially.

Businesses that store sensitive information on their servers should buy data breach insurance. Servers carry private information about customers, employees and finances.

Also, you need data breach insurance if you contract with an organization and have access to their servers. Hackers attempt to gain access to information by any means necessary. They can leverage a contractor’s laptop, smartphone, or tablet to gain access to servers.

What’s Covered Under Data Breach Insurance?

Data breach insurance is a comprehensive insurance policy. Beyond helping you get back on your feet, data insurance can help you cover the cost of the following:

  • Customer notification
  • Attorney’s fees
  • Crisis management
  • Judgements
  • Security experts

When you buy data breach insurance, you have strong assets to protect your business.

Not Having Data Breach Insurance Could Be Business Malfeasance

You have a duty to your stakeholders. Everyone wants to see your business grow and succeed. Unfortunately, one cyberattack can leave businesses sidelined.

With the threat of cyberattacks ever-present, choosing not to purchase data breach liability insurance could be a form of business malfeasance in the eyes of your stakeholders.

Insurance Planning Service helps businesses identify how much insurance they need and what to do in case they need to file a claim. Give us a call today at (800) 220-5582 to get more information about Michigan cyber insurance.


As a business owner, one of the most important steps you can make is in obtaining business insurance. Although there are a number of policies that may be applicable to keeping your company safe, many business owners may consider business insurance as being too expensive, or they view it as unnecessary. But that’s not true. Here are a few reasons why business insurance is essential to protecting your business:

  • You’re protecting your investment: When starting a business, you’re making a huge investment into your future. You’ve spent time and money on getting things in order, obtaining equipment, a facility and employees. When you’ve taken this much time, making sure you are protected in the event of a disaster is key.
  • You’re following the law: In many states, workers compensation insurance and commercial auto insurance is mandatory. You always want to comply with the regulatory agencies in your city and state to make sure your business is viewed in the best light.
  • It helps protect you in lawsuits: Anyone can have a slip and fall, or an unruly customer may not be happy with your work. When you are faced with a potential liability, your business insurance can help protect your company and keep you in operation throughout the situation.
  • It protects you in times of disaster: Natural disasters occur all the time, as well as theft, fire and other unforeseen circumstances. Business insurance can protect your company and relocate you to keep your operations running throughout that time of turmoil. Your business insurance can also replace or repair your equipment or building, alleviating the extra expense you would have previously incurred.

These are just a few ways having business insurance can protect your company and investment. Doing your research and obtaining the policy that would be most beneficial to you can pay off in the long run.

Protect your livelihood with the right coverage. Call Insurance Planning Service at 800-220-5582 for more information on Michigan business insurance.

Posted 10:58 AM


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Lighthouse Group Main Office in Grand Rapids, MI
Mailing Address | P.O. Box 530009, Livonia, MI 48153

Phone: 734.421.9900 | Toll Free: 800.220.5582 | Fax: 734.421.9911

Also serving these Detroit area communities in Michigan: Livonia, Farmington Hills, Ann Arbor, Southfield, Plymouth, Canton, Westland, Northville, Novi, Dearborn, South Lyon & Walled Lake