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Lighthouse GroupWe are excited to share that Insurance Planning Service has partnered with The Lighthouse Insurance Group! This empowers us to continue to provide you with the most competitive and comprehensive insurance programs in the state of Michigan and beyond.  As a result, the agency will begin operating as “Insurance Planning Service, a Lighthouse Company”, or simply, the “Lighthouse Group”.

 

Insurance Planning Service was founded in 1957 and, because of your loyal support, has been a family-owned insurance provider in Michigan for almost 60 years. We felt it was important to collaborate with additional insurance professionals to ensure that you continue to receive the highest level of expertise and service available.  We strongly believe our newly formed partnership with the Lighthouse Insurance Group accomplishes just that.

 

It is important to note that this partnership will not cause any change to the renewal process and additional services to which you are accustomed.  The entire team at Insurance Planning Service has joined the Lighthouse Group so you will continue to work with the same familiar people. We will also remain at our current location at 15624 Farmington Road, Livonia, Michigan.

 

The Lighthouse Group was founded in Holland, Michigan and, since its establishment, has grown to become a reputable provider of Business Insurance, Personal Insurance, Employee Benefits and Title Insurance throughout the state of Michigan.  Lighthouse was named one of the Top Area Employee Benefit Consultants and Risk Management companies in 2012, 2013, 2014, and 2015 by The Grand Rapids Business Journal because of their high level of expertise and commitment to maintaining strong relationships in their local communities.

 

Thank you in advance for your support of this new relationship and look forward to continue servicing your insurance needs.


AutoWe all know that auto insurance in Michigan is expensive. In fact, according to the National Association of Insurance Commissioners, our premiums auto insurance premiums rank 7th highest in the country.  SB-248 has passed the Senate Insurance Committee and the House Insurance Committee, and sill soon come to a congressional vote.  If passed, the framework will be in place to lower Michigan's auto insurance rates.

One of the largest issues has been a combination of Michigan's unlimited medical benefits coupled with auto insurers being required to pay-as-billed for medical services.  Other medical payers, such as health insurance companies, pay medical providers based on an agreed schedule of fees - as is the case with PPOs or HMOs.  Others such as workers compensation and Medicare pay providers based on a schedule enacted by law.  In contrast, Michigan auto insurance companies have been required to pay whatever they're billed by the providers, often being three to four times more that what other types of insurers pay for the same treatment. One element of SB-248 would establish a fee schedule to enable auto insurers to pay amounts similar to that of other health insurance companies.  This will not change the medical services available - only the amount auto insurance companies will have to pay for them.  Still, there will be no maximum limit or cap on what can be paid...only that along the way, amounts paid will become reasonable and in line with other types of insurers.

SB-248 will provide for an Insurance Fraud Authority to go after schemers who abuse our no-fault insurance system.  Michigan's unique unlimited lifetime no-fault medical benefits have led to increasing fraudulent claims.  According to a study by Hillsdale Policy Group, auto insurance fraud costs an estimated $400 million.  Michigan is only one of eight states without a fraud authority to investigate and prosecute fraud, according to the National Insurance Crime Bureau.

SB-248 still provides for reimbursement for non-skilled family-provided care, but limits payment to family members to $15 hour and no more than 24 hours per day.  That's still $131,000 per year!  This limit doesn't apply if the family attendant is a licensed professional.

SB-248 proposes a $100 / car rate rollback on auto insurance policies.

SB-248 changes the Michigan Catastrophic Claims Association (MCCA) to a new Michigan Catastrophic Claims Corporation (MCCC) that will function differently and be more transparent.  The purpose of the MCCC will be to fund the portion of auto-related medical claims in excess of $545,000.  At present, the MCCA pays out over $80 million per month for catastrophic injuries.

The House Insurance Committee passed SB-248 today, April 23, 2015, by a 9-6 vote.

Changes in committee include a fee schedule that would pay 150% of costs allowed by Medicare, removal of the proposed $15.00 per hour limit on family member attendant care if the family member is a licensed medical professional, and a $100 per vehicle rate rollback.

The Bill now moves to the House - hopefully to be acted upon next week.

Senate Bill SB-248 was passed by the Senate Committee on Insurance by a narrow 21-17 vote on April 16, 2015.

This bill contains basic elements of prior attempts to change Michigan's o-fault auto insurance, including:
  • Creation of an insurance fraud authority
  • Family Attendant Care cost controls
  • Establishment of a new entity to replace the Michigan Catastrophic Claims Association, and
  • A payment schedule for medical costs stemming from auto-related injuries based on payments accepted by medical providers from other traditional health insurers.

The Bill not goes to the House Committee on Insurance.  If passed, this could lead to reduced auto insurance costs in the State of Michigan.


Woman under umbrellaIt’s no surprise that a lot of successful business people use a number of resources for advice, particularly when it comes to financial, legal and insurance decisions. When it comes to protecting assets, either as a store owner or real estate investor, the need for the right insurance policies are crucial.

Of course, the main consideration in choosing insurance is the personal liability that comes with, say, owning that rental property. As such, an umbrella insurance policy can help owners if they are the subject of a major claim.

An umbrella insurance policy is like having a mega-liability policy by providing personal and estate protection in areas like:

  • Personal injury: If you’re sued because someone thinks you libeled, defamed or slandered them (to name a few), the policy provides coverage to help defend you in the lawsuit.

  • Loss assessments:  In general, only specific amounts for a claim are covered if you’re sued by a tenant or a visitor to your property. It also provides protection if a corporation or association sues you.
Here’s just one example of coverage for a million-dollar lawsuit because you backed over someone at your place of business or rental property:
  • An auto insurance policy’s bodily injury limit of $300,000 kicks in; still, there’s a $700,000 gap to cover, which is where the umbrella insurance policy comes in.

In short, the umbrella protection adds another level of liability coverage that is above the limits one might already have on their homeowners, auto, business or boat insurance. Furthermore, it just may offer a broader scope of protection from any claims that might be excluded by your primary insurance coverages.

We’ve got you covered. Call Insurance Planning Service at (734) 421-9900 for more information on Michigan umbrella insurance.


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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