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IPS / Lighthouse Insurance Group Blog: michigan commercial insurance

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Michigan Insurance Company

We are proud to post the following press release regarding the Michigan Insurance Company's parent corporation, the Donegal Group, Inc.

MARIETTA, Pennsylvania, April 24, 2013 – Donegal Group Inc. (NASDAQ: DGICA and DGICB) was named to a list of 100 Most Trustworthy Companies for the second consecutive year, ranking the company among firms that have consistently demonstrated transparent and conservative accounting practices and solid corporate governance and management as determined by GMI Ratings, an independent financial analytics company, and reported by Forbes.

According to Forbes, GMI Ratings creates its list by examining more than 8,000 companies traded on U.S. exchanges. Every three months it assigns each company an accounting and governance risk score, or AGR, based on proprietary modeling designed to identify practices that historically have had a high correlation with increasing shareholder risk.

“We are pleased to be recognized once again by Forbes and GMI Ratings as a ‘Most Trustworthy Company’ based on their analysis of our accounting and governance practices,” said Donald H. Nikolaus, President and Chief Executive Officer of Donegal Group Inc.

More information regarding the GMI Ratings “America’s Most Trustworthy Companies” analysis can be found at http://www.forbes.com/sites/jacquelynsmith/2013/03/18/americas-100-most-trustworthy-companies/. A reprint of the Forbes article is also available as a “Featured Report” in the Investors area of Donegal Group Inc.’s website at www.donegalgroup.com.

Donegal Group Inc. is an insurance holding company whose insurance subsidiaries offer personal and commercial property and casualty lines of insurance in 22 Mid-Atlantic, Midwestern, New England and Southern states. The insurance subsidiaries of Donegal Group Inc. and Donegal Mutual Insurance Company conduct business together as the Donegal Insurance Group. The Donegal Insurance Group has an A.M. Best rating of A (Excellent).

The Company’s Class A common stock and Class B common stock trade on NASDAQ under the symbols DGICA and DGICB, respectively. As an effective acquirer of small to medium-sized “main street” property and casualty insurers, Donegal Group has grown profitably over the past 25 years. The Company continues to seek opportunities for growth while striving to achieve its longstanding goal of outperforming the property and casualty insurance industry in terms of service, profitability and growth in book value.


image of couple on couch in their homeHome-based business owners choose to run their business from a residence instead of a designated office space. A home-based business can be run from an apartment, mobile home, garage, condo, house or a separate dwelling in the back yard. Most home-based business owners believe that their current homeowner or renter insurance covers damage to their business property; and in most cases it does, but there are some very important business related items that a standard insurance won’t cover.

Why Isn't Homeowner’s Insurance Enough?

As a home based business owner, you may not think much about adding additional coverage onto your existing homeowner’s policy, but keep in mind that a general homeowner’s policy doesn't cover everything in a home. Homeowner’s policies generally cover structural damage or contents damage caused by structural damage. However, the policy generally does not cover damage to contents alone. For that you may have to add additional coverage called contents insurance.

Contents Insurance

Contents insurance is an additional policy that covers the contents in your home. In most cases, contents insurance covers for damages that are not covered by your content’s warranty. Warranties generally cover electronics and appliances for damage caused by defects or mechanical breakdowns. However, they do not cover the damage caused by you or by natural disasters.

Home-based Business Insurance

Home-based Michigan business insurance covers your business contents as well as loss of income. Unlike a general contents insurance policy which would only cover the damaged contents, business coverage has a higher dollar amount of coverage and it covers you for loss of income due to damages to your business or contents. Home-based business owners generally don't have home-based business policies, because they falsely believe that their homeowners insurance will cover their home-based business; however, it is important to add home-based business coverage to help financially while getting your business back on track after a disaster.

Commercial Auto Coverage

If you have a vehicle that you use for business, you will need commercial auto insurance. General auto insurance policies don't cover vehicles used to haul goods or people. If your business has more than one driver or you haul goods, it may be best to get a commercial auto insurance policy to make sure that you're at it quickly covered in the event of theft or an accident. This type of policy has a higher dollar amount of coverage than a general auto insurance policy so it costs a bit more.

If you’re just starting your home-based business or you are a current home-based business owner who needs more information about the above policies, give Insurance Planning Service a call at 800-220-5582 and we’d be more than happy to assist you.


Michigan Business InsuranceBusiness insurance coverage is designed to secure all types of businesses from known risks. Whether you are operating a high-end or low-end business enterprise, you require protection from hazards such as flooding and litigation. Buying business insurance coverage can also have a great influence on your personnel.

In addition to guaranteeing your workforce, Michigan Business Insurance also safeguards your assets as well as revenues. Still, there are laws and regulations which compel entrepreneurs to acquire business insurance. Discussed herein, are some of the advantages of purchasing small business insurance.

1.       Liability

Perhaps the greatest benefit of buying small business insurance coverage is the protection it gives you against liabilities. Businesses often make the best targets in the event of an on-site accident. In case somebody is hurt while at your business premise and you do not have liability insurance coverage, you will be forced to pay for the medical expenses, lost revenue and any other additional payment as has been granted by a court of law from your own pocket.

Just because you operate a small business does not mean that you are not exposed to accidents for which you can be liable for. For example, if a client or an employee trips over a cable and twists their ankle in the process, he/she can sue you for damages. So long as the accident occurred in your business premise you are responsible. However, you can protect your business from losses by acquiring a small business insurance coverage such as general liability insurance.

2.       Loss of Property and Damage

In case of theft or vandalism, business insurance coverage like property insurance will protect you from losses. Property insurance coverage is designed to compensate you if the building that accommodates your business is damaged or the items within the building such as furniture, computers, printers and fax machines are stolen or vandalized.

If you have a warehouse and merchandises stored therein are stolen after a security breach, your insurance provider will take care of the costs incurred in replacing the looted property.

3.       Protection from Natural Disasters

Buying small business insurance coverage that caters for natural disasters such as flooding, fire and earthquake protects you from losses in case your assets as well as stocks are damaged during a natural disaster. Replacing items damaged or destroyed during flooding or an earthquake can be expensive. But, you can safeguard against such risks by acquiring business owner coverage.

4.       Loss of Revenue

Small business insurance coverage, for example, business income insurance protects you from loss of income. There are various factors that can cause your business to shut down temporarily. Nonetheless, you can safeguard against such risks by buying small business insurance coverage.

For help finding the best Michigan Business Insurance policy for your business, call an Insurance Planning Service agent today at 800-220-5582.


two people standing outside small businessThe definition of a small business is one that—to many business owners—doesn’t actually seem very small. A small business is defined by having fewer than 500 employees and less than $5 million in revenue each year. Along with the Internet, a new type of small business has become more prevalent, and that is the microbusiness. A microbusiness is generally defined as one with fewer than five employees that takes a very small capital investment to get started (generally less than $15,000).

If you have a microbusiness either operated out of your home or another location, you may think that your business is too small to worry about insurance. However, the size of your business does not necessarily reduce your risk of suffering damages due to liabilities and loss of property, nor does it make your property and future finances any less important to protect.

The types of commercial insurance that a microbusiness needs will vary based on industry, location and what kind of property loss and perils it could face. If you operate a microbusiness and need to shop for insurance, here are a few things to keep in mind:

·         If you operate your microbusiness from home, your personal home insurance or renter’s insurance policy will not cover damages to property or liability claims unless the policy has a special endorsement to that effect.

·         Every business has potential liabilities. From consultants to virtual assistants to designers, you could have business-related visitors to your home, such as delivery people, who could get hurt on the premises. Or, your work might have the potential to cause damage to a client, which could prompt a lawsuit.

·         If you use your personal vehicle to run errands for your business or to transport business property from one location to another, then you need commercial auto insurance.

·         When you run a microbusiness, your finances may be tighter than a business with higher revenues. This means you can ill afford a temporary business interruption or other disastrous event such as cyber theft. Insurance can offer you an appropriate level of protection against these threats.

If you are interested in learning about all the ways insurance can help protect your business and keep it running for years to come, give us a call at 800-220-5582. One of our experienced professionals will help you design a Michigan business insurance portfolio specifically tailored to the needs of your microbusiness.


local businessA family business is a great way for your relatives to come together, become self-reliant and create a lasting legacy for all your future generations. And while it may be fun, exciting and more relaxed to run a business with your family than it is to work in another individual’s business, that doesn't mean that you should be lax about your insurance planning.

Liability Exposure Can Sink a Business

When your whole family is in on a business with you, there is no backup plan for financial difficulties that you may face. You are all in this together which means that negative financial events will affect all of you. Liability insurance is one way to ensure that your family's wealth isn't wiped out by the risks taken on by your family business. Consider professional liability as well as commercial auto, general and any specialty liability coverages tailored to your industry.

Buy-Sell Agreements

It’s important that owners of a family business have a formal succession plan in place. It's not enough to know that other family members will take over the business upon your death; you should have a written and financed plan for providing for those family members who no longer wish to be involved when you pass away and those that do. A buy-sell agreement between all partners can ensure that spouses and children who don't wish to become owners of the business will still be provided for and their shares of the business bought out after your death.

Key-Person Insurance

There are many different reasons one might wish to open a family business. One popular motivation is to profit from the combined individual talents of various family members. When this occurs, it is often also true that the loss of a family member with a particular skill can hurt the business substantially. A key-person insurance policy ensures that the business gets a cash infusion upon the death of any key employees which will allow the remaining partners the resources they need to keep the business going while they attempt to find a replacement or sell the business.

There is no type of Michigan business insurance policy that a non-family-owned business needs that a family-owned business does not. In addition, family business owners must take added steps to ensure the safety of their extended family units. If you have questions about how to structure the insurance policies for your family business, give us a call at 800-220-5582.


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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