10 Things You Should Know

to Avoid Disaster with Your Commercial Insurance

or read online below

According to The Hartford, 40% of small businesses will incur a property or liability loss within the next ten years.

The Most Common & Costly Types of Claims

Insurance Agency Streetsboro & Uniontown, Ohio

MOST COMMON TYPES OF CLAIMS

The Hartford’s analysis provides insight into the types of claims small businesses can expect. The insurer cited the following as the ten most common types of claims incurred by small businesses; the percentage shown next to each type of claim is the percentage of total claims.

  1. Burglary and Theft (20%): The perpetrators of these crimes may be dishonest employees or outsiders.
  2. Water and Freezing Damage (15%): These include claims involving roof damage from snow or ice and damage caused by frozen pipes.
  3. Wind and Hail Damage (15%):
  4. Fire Damage (10%): Fire is one of the most common causes of property damage, but many policyholders underestimate its destructive power.
  5. Customer Slips and Falls (10%): Almost any business can incur a slip-and-fall claim. However, your company may be more vulnerable to such claims if customers or members of the public regularly visit your premises or work site.
  6. Customer Injury and Damage (Less than 5%): Customers may sustain bodily injury or property damage in accidents that do not involve slips and falls. For instance, a customer is injured in your office when a heavy floor lamp falls over and hits him in the head.
  7. Product Liability (Less than 5%): Your vulnerability to a product liability claim depends on a variety of factors including the nature of your product and warranties you make when you sell the product.
  8. Struck by an Object (Less than 5%):
  9. Reputational Harm (Less than 5%) These are third-party claims against small businesses for acts like libel and slander. Plaintiffs allege that their reputation was damaged by such acts.
  10. Vehicle Accident (Less than 5%) A vehicle safety program can help prevent auto accident claims.

MOST COSTLY CLAIMS

Clearly, some types of claims occur more frequently than others. But claim frequency is only one aspect of claims that insurers consider. They are also concerned about claim severity, or the size of claims. The Hartford calculated the average cost of claims for each of the ten categories cited above.

Here are the ten categories in order of average cost, from highest to lowest:

  1. Reputational Harm ($50,000)
  2. Vehicle Accident ($45,000)
  3. Fire ($35,000)
  4. Product Liability ($35,000)
  5. Customer Injury or Damage ($30,000)
  6. Wind and Hail Damage ($26,000)
  7. Customer Slip and Fall ($20,000)
  8. Water and Freezing Damage ($17,000)
  9. Struck by an Object ($10,000)
  10. Burglary and Theft ($8,000)

Lessons for Small Businesses

The claims analysis conducted by The Hartford is based on the insurer’s own loss data. An analysis conducted by another insurer might yield different results. Still, The Hartford’s study provides useful information for small business owners. It can help small firms decide where to concentrate their efforts to control losses.

Who is McMichael Insurance?

Insurance Agency Streetsboro & Uniontown, Ohio

McMichael Insurance is an independent insurance and risk management firm that works with a wide variety of business sizes and types. Because we are independent we have many options and will always commit ourselves to delivering you the best value for your money.

OUR CREDENTIALS

Founded in 1976, McMichael Insurance has an established record of providing unparalleled service and protection that extends beyond the typical insurance policy.With over 2000 years of combined insurance experience, we have seen it all. This allows us to be proactive in bringing you the right coverage in a clear, concise, and understandable manner. Using the processes we’ve developed, McMichael Insurance demonstrates a track record of providing a higher level of protection, at typically lower prices.

OUR BACKGROUND AND EXPERIENCE

Our continuing pursuit of excellence drives us to bring you a team of the most knowledgeable and skilled experts to work for you. All of our sales agents are registered Certified Insurance Counselors or are on the path to achieving this designation. Our commitment to excellence is demonstrated by our ongoing educational achievements both in class and in the invaluable experiences we have learned from during the past few decades. Furthermore, we engage at the board level with the industries we serve, providing an insider understanding of those industries and their needs.

Problems McMichael Insurance Solves

Insurance Agency Streetsboro & Uniontown, Ohio

» High Premiums

That’s right, we can help. Most often we are able to combine better coverage and lower premiums. Our extensive market outlets, coupled with our proven track record, means you reap the benefits.

» Uncovered Losses

You may not be aware of the wide range of coverage that is available to your business. That’s because too many times insurance agents become narrowly focused on making the sale. The real danger is that those agents tend to lose sight of the big picture and of the availability of other types of coverage that you may need. This could be a case of them putting their interests ahead of your own, or it could simply be ignorance of the dangers your specific industry faces. Our agents are extremely well qualified to educate you about all types of coverage that are available to you.

» Unpaid or Underpaid Claims

Are you aware that we offer claims resolution services? We can work on your behalf to get claims paid when other agents cannot. If you want to know more, see “What Our Clients Say” for a few real-life examples where we have performed for our clients. We have even been successful in getting claims paid in situations where the party we were working with was not even a client of McMichael Insurance.

» Lack of Insurance Expertise?

With McMichael Insurance there is no need to worry that you are not an insurance expert. That’s because our proven processes work to uncover areas of weakness in your protection. We are then able to put forth solutions to the coverage issues your business faces daily. In addition, we also include a self-evaluation tool in our synopsis of coverage that defines various coverage types you may want to implement.

Proof – Awards, Recognition, and Testimonials

Insurance Agency Streetsboro & Uniontown, Ohio

Year after year, McMichael Insurance is both an Inner Circle and Leadership Circle qualifier. We also hold several seats on the Agency Advisory Boards of the insurers we represent. But what does this mean to you? Consider the following to see if you would like to experience these benefits:

Lower Premiums
Our high level of trust with our partnering insurers, coupled with our track record of generating profits for our insurers, means they want more of our business and are willing to complete hard for it.

Superior Claims Service
Sure, every insurer and agent makes this claim, but we can back it up. We have helped spearhead coverage development and have standing monthly meetings with the Chief Claims Officers of our largest commercial insurers. If you need more evidence, just take a look at the section on “What Our Clients Are Saying.”

A Commitment to Put Your Interests First
Our trust level with our insurers goes both ways. They know that in order for us to continue to be a steady stream of profitable business for them, they need to continually do the right thing, and this means performing at superior levels for us and our clients in all aspects of underwriting, pricing, claims, and service.

I highly recommend McMichael Insurance Agency! They invested time to thoroughly understand the business and provided the right package of services to suit the needs of the company. They responded very quickly and are very knowledgeable. The staff of McMichael Insurance can be counted on for a fast turnaround of insurance documents as needed.

Scott Wulff, President
Wulff Enterprises, Inc.

“Things I Wish My Agent Had Told Me About My Insurance!”

Insurance Agency Streetsboro & Uniontown, Ohio

EXCLUSIONS IN THE POLICY

SITUATION:
All insurance policies contain exclusions. Depending on the business and the types of claims that occur, unknown exclusions may serve to contribute to the failure of the business. Often agents overlook or wrongly assume that an exclusion does not apply to a client because they either do not understand their client’s business or simply do not take the time to educate the business owner.

PROBLEM:
This is a colossal mistake on the part of an agent that does not serve the interest of the client and certainly would lead to the denial of a claim.

ACTION:
Our agency, starting with the Account Executive down to the Customer Service Representative, reviews each exclusion, and when appropriate discusses with the client the impact of the exclusion and provides solutions to lessen the impact of that exclusionary language.

RESULTS:
Our process, including exclusionary review, ensures that there are no surprises when a claim is filed. Simply put, it is too late to remedy an exclusion that is discovered when the claim is filed.

EXAMPLE:
A crane & hoist manufacturer in Northeast Ohio engaged McMichael Insurance for a review of their Commercial General Liability policy. An exclusion was discovered which had huge implications in the event of a product failure. After working with McMichael Insurance, the exclusion was rectified. Coverage will now be available should property damage or bodily injury arise while their cranes are in use.

INSURANCE-TO-VALUE

SITUATION:
Adequate insurance-to-value is required for buildings and business personal property in order to avoid underinsurance penalties.

PROBLEM:
Many business owners do not realize the jeopardy their business is placed in by not insuring property to its required value. Unfortunately many agents do not understand how to guide their clients through this process to eliminate potential pitfalls. If not insured for an adequate amount, the result is that a partial loss will not be paid to the extent expected.
We have seen business owners paid less than 50% of the total repair estimate.

ACTION:
The sales team of McMichael Insurance is trained in precisely how to navigate through these potentially crippling policy conditions so that coinsurance penalties can be dealt with and/or eliminated. We will walk you through the process of making sure you have insurance you can count on when a claim arises.

RESULTS:
You deserve a solid plan of insurance that eliminates the surprises. McMichael Insurance’s team of experts will explain to you how this policy provision works and how to eliminate these pitfalls.

EXAMPLE:
A machine shop consulted with McMichael Insurance for a review of their commercial insurance protection. During our consultation we systematically worked through evaluating their needs and determined that the proper insurance limits on their machinery, equipment, and other contents was $6,500,000. Their present policy only had them insured for $2,500,000.
If a claim had occurred prior to our engagement, the impact would have been devastating, with the result being that only about 40% of the actual loss would have been paid, potentially forcing the business to permanently close its doors.

“Things I Wish My Agent Had Told Me About My Insurance!”

(CONTINUED)

Insurance Agency Streetsboro & Uniontown, Ohio

ORDINANCE OR LAW COMPLIANCE

SITUATION:
City and state governments have laws that regulate building construction and demolition, and code enforcement that if you are not prepared for can have a devastating impact on your business.

PROBLEM:
The basic replacement cost insurance policy requires an insurance company to rebuild the part of the building damaged exactly as it sat immediately prior to the loss and only that part that was directly damaged. But did you know that ordinances or laws on the books may require the demolition of building parts that did not sustain direct damage? They also will require you
to rebuild to current building codes.

ACTION:
The professionals at McMichael Insurance can work with you to establish proper insurance for these types of code enforcement. We can provide money to pay for the building portion not directly damaged but still requiring removal, in addition to money to pay for demolition and for meeting new building code requirements for items such as sprinkler systems,
elevators, modernized wiring, etc.

RESULTS:
With proper insurance coverage you will have the protection you need to open for business more quickly and to meet the obligations of building code enforcement.

EXAMPLE:
A metal plating operation suffered a major fire loss, triggering the enforcement of building code ordinances of their city. This resulted in extensive renovations to meet current building codes. After going through a three year ordeal of trying to deal with the insurer, working through the legal system while bring a lawsuit against its insurance agent, and trying meet all of the required code upgrades during the rebuild process, the business was finally back in operation. Fortunately, this business was financially capable of suffering through this lengthy and costly process; but if the same incident hit your facility, would you be able to financially absorb this type of loss?

“Things I Wish My Agent Had Told Me About My Insurance!”

(CONTINUED)

Insurance Agency Streetsboro & Uniontown, Ohio

PROPERTY OF OTHERS

SITUATION:
Many times business owners take possession of property owned by others to perform services or to work on that property. The basic Commercial Property coverage form only provides limited coverage up to $2,500 for the property of others; however, this limit is often insufficient to meet a company’s needs.

PROBLEM:
Many insurance agents fail to grasp the operations of the client they insure. This problem is further compounded because many business owners do not think through questions such as, “If there is a fire at my facility and I had $250,000 of someone else’s property that is damaged, who pays for it?” The truth of the matter is that a business that has possession of property in their care, custody, or control is the responsible party for insuring such property. Unfortunately, agents rarely understand this concept and therefore the insurance policy is not crafted to provide coverage in the event of such a loss.

ACTION:
The professionals at McMichael Insurance are trained to ask questions about what property of others is in your possession, the current value and replacement cost of that property, and whether you have an agreement stipulating who is responsible for what and to what degree. If an agreement is not in place, McMichael Insurance has resources to help you put one into place. We also will make sure you have adequate insurance protection in place.

RESULTS:
Your customer relationship is preserved and a steady flow of work means more profit to your bottom line. Proper insurance protects both your relationships and your profits.

EXAMPLE:
An engine plant had a large quantity of customer’s material onsite for processing when an electrical short caused a fire. The damage sustained to the customer’s materials was in excess of $250,000. Because the engine plant’s insurance professional understood the risks associated with the property of others they included enough protection to cover the loss. The result was that the claim was paid in full and the working relationship between the engine plant and the customer was kept intact. Without triggering the separate insuring agreement for the property of others, the policy would not have paid more than the $2,500 that was included in the standard policy.

“Things I Wish My Agent Had Told Me About My Insurance!”

(CONTINUED)

Insurance Agency Streetsboro & Uniontown, Ohio

BUSINESS INCOME PROTECTION AND EXTENDED PERIOD OF INDEMNITY

SITUATION:
Property claims can directly affect your ability to operate and may cause your business to suffer an income loss. Business Income Protection provides money for the continuation of your business operations after a covered loss, including normal ongoing operating expenses and payroll. There are three basic forms of Business Income methods that are typically employed: Monthly Indemnity, Actual Loss Sustained, and Coinsurance. Of these three forms, the Coinsurance form offers the most flexibility and provides the best protection.

PROBLEM:
Most insurance agents take the easy way out and use the Actual Loss Sustained form. A problem exists in that this form only provides up to 12 months’ protection while everything is being restored and rebuilt, and does not provide for more than a 30- or 60-day Extended Period of Indemnity. We have seen situations where more than 12 months is needed during the rebuilding process. The Extended Period Of Indemnity often requires as much as 360 days from the time your doors are open for business to rebuild your client base back to its pre-loss levels. There are far too many stories of businesses that have survived the rebuilding phase only to still fail because they cannot rebuild their customer base quickly enough.

ACTION:
The professionals at McMichael Insurance can work with you to complete a Business Income Worksheet. This valuable tool can be put to use in avoiding Insurance-To-Value penalties and help you establish a sufficient limit of income protection extending all the way through the time it takes to rebuild your customer base.

RESULTS:
Your business survives and thrives through a potentially catastrophic claim.

EXAMPLE:
Tornadoes strike a small town, leaving devastation in its wake. Because the insurance is properly constructed the business owner is able to pay their bills, including payroll, during the rebuilding process. Because this business’ many competitors do not have sufficient protection to endure through this period of time, the competitors fail and go out of business. Our client is left standing as the lone supplier in his field, and with the competition out of the way his profits rise exponentially.

“Things I Wish My Agent Had Told Me About My Insurance!”

(CONTINUED)

Insurance Agency Streetsboro & Uniontown, Ohio

OHIO EMPLOYERS’ INTENTIONAL INJURY DEFENSE EXPENSE COVERAGE

SITUATION:
In business, accidents happen and employees can get hurt on the job. While Workers’ Compensation is the sole remedy for workplace injuries, a situation exists in which an injured employee may bring suit against an employer and win. The situation is when the employer either removed a safety guard, or failed to install a guard that was required. In this case, it would have to be proven that the employer was complicit in the non-existence of a required safety guard. Ohio’s public policy will not allow insurance protection for these types of acts, which are considered intentional, and under no circumstances can the employer be covered for this instance by insurance.

PROBLEM:
Whether a safety guard was removed or not, and whether or not the management of company was complicit in its removal, the business is now involved in a costly legal entanglement.

ACTION:
While insurance cannot pay for the judgment of a claim, McMichael Insurance professionals are educated on the need to use insurers that provide protection for the legal defense against allegations of the guard being removed.

RESULTS:
Whether the claim is supported or unsubstantiated, the business is protected by an insurance policy that will provide money for the business’ legal defense expenses.

EXAMPLE:
An Ohio machine shop employee was severally injured when his arm became entangled in a CNC machine. The employee survived, but lost his arm in the accident and nearly lost his life. Workers’ Compensation fulfilled its responsibility by paying for the injured employee’s medical bills, lost wages, and rehabilitation. A lawsuit followed, claiming that the CNC Machine’s safety mechanism was removed and that the management was complicit in its removal. The lawsuit resulted in large defense expenses and a subsequent settlement. A properly structured insurance policy with Employers’ Intentional Injury Defense Expense coverage would have saved the machine shop owner thousands upon thousands of dollars in legal expenses.

“Things I Wish My Agent Had Told Me About My Insurance!”

(CONTINUED)

Insurance Agency Streetsboro & Uniontown, Ohio

EMPLOYEE DISHONESTY

SITUATION:
Often businesses have stock, inventory, or currency which are in the control of their employees. Most business owners assume that if something was stolen by an employee, their crime insurance will pay for it in full.

PROBLEM:
There are three critical things that business owners generally don’t consider when it comes to establishing Employee Dishonesty insurance. First, even if an insurance policy includes Employee Theft coverage, the limits of insurance are generally very low and claims tend to be very costly. Second, the Employee Theft coverage that does exist will respond to an employee theft claim as a continuous act, even if it occurs over a period of weeks, months, or years, and as such is subject to a single limit of insurance. Third, the limit applies regardless of whether the employee is acting alone or in collusion with another employee, and regardless of whether it involves past or present employees.

ACTION:
These are discussions that the professionals at McMichael Insurance are trained to have with their clients. We have real-life stories of many business owners who had protection, but we also have stories of those who were not covered.

RESULTS:
A well-crafted plan of insurance will protect the business from unscrupulous employees and can be relatively inexpensive to implement. As part of the institution of this insurance we can also help put into place safeguards to help avoid claims in the first place. Possible safeguards include segregation of duties, required countersignatures for checks over a certain limit, and inventory controls.

EXAMPLE:
A company stocked and supplied stainless steel and copper couplings to distribute to local manufacturers. One of their most trusted employees was the warehouse manager who also reconciled the inventory. During a two year span this trusted employee placed a handful of couplings in his lunch box at the end of each day. The employee then altered the inventory to cover his tracks. Finally, the bank called the owner of the business with concern about the financials. It was soon discovered that the extent of the employee’s theft was $300,000. The insurer paid the $5,000 limit of the insurance, citing the fact that this constituted a continuous act on the part of the employee. The owner mistakenly thought the insurance company would pay $5,000 each day the employee stole from the company. If the insured had received better advice from his agent, he may have had better coverage in place to better minimize his losses.

“Things I Wish My Agent Had Told Me About My Insurance!”

(CONTINUED)

Insurance Agency Streetsboro & Uniontown, Ohio

THIRD-PARTY EMPLOYEE DISHONESTY

SITUATION:
While employers need to be aware of employees stealing from their businesses, they also need to be aware of their employees stealing directly from their customers or clients.

PROBLEM:
Some employers understand the need for Third-Party Crime coverage and think it is either not available or too costly. Often they resort to a bond to keep their customers or clients pacified; however, this approach still leaves the business exposed to risk.

ACTION:
We can provide clients with a broad range of crime coverage options, including coverage for Third-Party Employee Dishonesty, that will protect the business in the event an employee steals from its clients.

RESULTS:
By securing Third-Party Employee Dishonesty coverage, we can protect the business in the event of the theft of a customer’s property. This valuable protection can also be used to help expand your business by demonstrating to prospective customers that you can safely and securely handle their business with the backing of properly secured insurance. This will also serve to enhance your business relationships if you use it as a customer enhancement tool.

EXAMPLE:
A home health care company with more than 100 employees is in and out of customers’ homes all the time. If something comes up missing from a client’s home far too often the suspicion falls on the health care worker. The bonding approach does not satisfy these concerns. However, Third-Party Crime coverage insures against this risk, protecting the business owner against such allegations, and providing indemnity if required. With Property Third-Party Crime coverage in place the business should be able to grow since a key risk has been shifted to the insurance company.

“Things I Wish My Agent Had Told Me About My Insurance!”

(CONTINUED)

Insurance Agency Streetsboro & Uniontown, Ohio

BUY/SELL LIFE INSURANCE

SITUATION:
Many businesses are made up of two or more partners who have stock ownership in the company. But have you considered what would happen to the business if one of the partners were to suddenly die? How will the surviving spouse of the deceased partner get their ownership equity out of the business?

PROBLEM:
The surviving partner now has a new unintended partner, the spouse of the deceased partner. The deceased partner’s spouse now has to deal with the loss of earnings that now impacts their financial well-being.

ACTION:
McMichael Insurance helps prevent these problems by helping you with your shareholders’ agreement. Although we are not licensed to practice law, we do have many trusted sources who can help you put together a solid shareholders’ agreement, or conduct a review of your present agreement. We would then construct a life insurance program to be sure that the shareholders’ agreement now has funds available to properly execute what the agreement requires.

RESULTS:
The funds from the life insurance would be used to pay off the spouse of the deceased partner and enable the business to provide for those obligations. The surviving spouse of the deceased would then have the money necessary maintain their lifestyle without interruption.

EXAMPLE:
Two friends are engaged in a business arrangement, with each partner owning 50%. Upon the death of one of the partners with no life insurance in place, the surviving partner was unable to pay the estate of the deceased to purchase back the remaining shares. Needing cash to meet her personal financial obligations, the deceased partner’s wife forced the sale of the business. When a fight ensued as to the value, the case was sent to the courts. After review of the situation, the judge ordered the parties to determine an acceptable value, or else he would put the business up for auction, potentially for pennies on the dollar. A proper shareholders’ agreement coupled with life insurance would have prevented this harmful and costly process.

With McMichael’s professional involvement, I was unable to recover an additional $44,000 from my insurance company. Their advocacy on my behalf, and their expert knowledge is truly amazing.

Joe Salemi, Manager
Boulder Creek Golf Club

What is an Insurance & Risk Management Firm?

Insurance Agency Streetsboro & Uniontown, Ohio

Q: I don’t know much about insurance or risk management. What do you do?

A: Insurance policies are a backstop to prevent you from suffering financial loss in the event of a claim, whereas our risk management services benefit you by helping to avoid the claim in the first place. Claims can be disastrous for a business, so why not work to prevent them in the first place?

Q: What kind of training do you have?

A: Denied claims are the worst, and yet we have heard far too many horror stories from prospects that their claims were turned down or substantially underpaid. Our high educational standards, proven processes, and standards of professionalism provide you with the resources to make informed and educated decisions so that you can control your own destiny.

Q: What are the basic licensing standards for the insurance industry?

A: Insurance professionals are licensed at the state level by a state board of insurance. The state of Ohio requires a mere five days of classroom work, or self-study, followed by a background check and successfully passing an exam. Continuing licensing requires 24 hours every two years plus three hours of ethics coursework.

Q: What makes McMichael Insurance’s approach to insurance and risk management different?

A: The difference is in our proven results. Below are a few examples:

The owner of a large building contacted us in a panic. He was unable to obtain coverage. The building’s previous insurer had paid a large slip and fall claim that made them uninsurable. Once we engaged with the client, we were able to shift the responsibility for the slip and fall claim directly onto a snow and ice removal contractor. We also made other recommendations to improve the public safety of the premises so that an effective defense could be made if another slip and fall incident occurred. Once we had the agreed upon solutions in place, we approached our trusted insurers and were not only able to insure the building, but did so at a lower price than they were previously paying.

In another example, a large contractor client is now saving thousands of dollars on his premiums because of our proactive claims approach. The contractor has a history of utility strikes and resulting claims that were filed against his insurance up to 11-12 months after the utility was damaged. We concluded that the utility service company filed late because older claims are seldom challenged since evidence is not generally retained for long lengths of time. Our solution was two-fold. First, we recommended that the contractor maintain yardsticks in each machine. These were used to immediately measure and photograph the strike in relation to the Utility Protection Services markings. We also put together a fast reaction claims team of adjusters that immediately responded to allegations of claims through the use of witness statements, photos, and other evidence gathered at the scene. The results were dramatic. The insured understands now that fewer claims means lower premiums which lead to higher profits for his business. These solutions were so effective and inexpensive to implement that we now have a lifetime client that is an advocate of McMichael Insurance.

On the surface our process is very simple, but also very effective. During our earliest meetings we put our proven assessment tools to use. These tools help us understand your business, determine the undesired risks of loss, and develop a plan of approach. Effective solutions are then discussed and agreed upon. Once these are implemented, we are then able to approach our insurers with a clearly defined action plan that will enable them to gain a comfort level that will generate the best pricing available, avoid claims, and protect your business.

How to Choose an Insurance Advisor?

Insurance Agency Streetsboro & Uniontown, Ohio

WHEN SELECTING AN INSURANCE ADVISOR, BE SURE TO CHOOSE A PROFESSIONAL WHO:

  • Is referred to you by another business owner whom you trust and respect.
  • Can provide you with ample testimonials exhibiting their expertise.
  • Has been credentialed as a Certified Insurance Counselor, or is in the process of attaining this high level of competency.
  • Has a particular focus on business insurance and risk management. Don’t settle for an agent that simply makes the sale and then has no commitment to you.
  • Has been recognized by the insurers they represent as being part of a top tier agency, demonstrating a high level of professionalism and excellence in the areas of trustworthiness, customer care, client satisfaction, reputation, and product knowledge.
  • Is an educator, not just a sales person. Wouldn’t it be nice to know how your coverage functions, what you are and are not covered for, and what other options are available to plug the gaps in your protection?

Asking your existing insurance agent these four questions will help you understand if they know you and your business:

  1. What does my business insurance cover?
  2. What risks are not covered?
  3. How much property insurance do I need?
  4. What can I do to lower my premiums?

10 Easy Ways to Know if Your Insurance Agent has Your Best Interest at Heart

Insurance Agency Streetsboro & Uniontown, Ohio
  1. You see your agent on at least an annual basis. If you are not meeting for at least annual reviews, then you are simply a revenue stream to them and not a valued client they believe deserves their time and attention.
  2. All of your claims have been paid promptly and your agent has walked you through the exclusions. A good agent will not only add the right coverage, but will also help you understand the exclusions that apply and the risks you are taking so there will be no surprises.
  3. Your agent regularly reviews building valuations and completes a reconstruction estimate on your buildings. This is critical since not being in compliance with Insurance-to-Value will literally cost you tens of thousands of dollars in unpaid claims. See the section titled “If You Don’t Have Proper Insurance-To-Value You Will Be Shortchanged” to understand what penalties are applied when you fail to comply.
  4. Your agent walked through your facility with you to help you evaluate values for your furnishings, machinery, equipment, inventory, and other property. Again, this is a critical piece of the insurance equation that requires proper Insurance-to-Value.
  5. Your agent has you review and sign an annual Statement of Values. This is important since this is a declaration of which buildings are insured and which are not. If a building is not included on the Statement of Values, there is no coverage for that building or its contents.
  1. You have Blanket Property Insurance. This involves moving from a specified insurance limit for each building to a blanket or pooled amount of property insurance to be used how you need it at your discretion.
  2. Your agent has assessed vehicle titling prior to initially placing your insurance and regularly asks when additional vehicles are added. Did you know that you may have no coverage if a vehicle is titled to you individually but insured by your business?
  3. Your agent routinely reviews building leases and contract leases. Not knowing who has the responsibility to insure what, how, and up to what limits is a dangerous game that leaves you perilously in the dark.
  4. Your agent has you regularly complete business income worksheets. How do you expect you will be able to withstand a loss that impacts your income without proper verification of your income needs? This critical step will assure you that you are on the right track.
  5. Your agent has reviewed your business shareholders’ agreement and implemented proper protections.

IF YOUR AGENT HASN’T TALKED YOU THROUGH THESE ISSUES, THEN MAYBE WE SHOULD TALK.

If You Don’t Have Proper Insurance-To-Value, You Will Be Shortchanged?

Insurance Agency Streetsboro & Uniontown, Ohio

Q: What is Insurance-to-Value?

A: In property insurance, Insurance- to-Value is a requirement that says property must be insured to a certain predetermined minimum amount of insurance in order to collect the full amount of a partial loss. If a business owner fails to satisfy the Insurance-to-Value requirements, a penalty is invoked on the loss.

Q: How is Insurance-to-Value determined?

A: The section of the policy related to Insurance-to-Value begins with the words “When the value of your property is…” But who determines this value? The insurance industry uses computer modeling that determines the basis for Insurance- To-Value for buildings. While this may not seem fair, insurance agents must simply deal with the reality of the matter and help guide business owners through these policy areas that may be detrimental if not addressed properly.

Q: Why does my insurance company value buildings so much higher than what I would receive in a sale?

A: The simple answer is that most of the time buildings are required to be insured on the basis of the cost to reconstruct them after a loss, whereas the sale price is determined by market conditions.

Q: Does Insurance-to-Value apply to other types of property or just to buildings?

A: Insurance-to-Value is a concept that cuts across all property insurance, including items defined by the policy as buildings, business personal property, contractor’s equipment, business income, and various other types of property.

Q: What are the penalties that may be imposed?

A: A typical property insurance policy would require a building to be insured for 80% of its full replacement cost. If a building has a replacement cost of $250,000 and an 80% Insurance-to-Value requirement, then the minimum amount of insurance necessary to meet the requirement is $200,000. In the event a business owner is insured for only $100,000, they will be considered 50% underinsured, in which case the insured would only receive half of the settlement for the loss.

How to Save Money on Your Insurance Premiums

Insurance Agency Streetsboro & Uniontown, Ohio

» Institute A Maintenance Program

Insurance companies are looking for “pride of ownership” that generally leads to lower overall claims costs. This includes maintenance to buildings, grounds, vehicles, and machinery and equipment. We recommend keeping records of your maintenance activities.

» Employ Safe Drivers and Conduct Regular Driver Screening

Insurance companies want to know that management is doing its part to hire good drivers who have experience in the type of equipment they are operating. They also want to know that management is proactive when dealing with operators whose performance may be impacted by life circumstances. Regular monitoring of all operators’ motor vehicle reports and drug and alcohol screening is also key; this applies to drivers of company vehicles, tow motors, and other kinds of heavy or mobile equipment.

» Implement A Safety Bonus Program

Reward your employees for accident-free performance. This should help reduce incidents of tickets, accidents, and claims for your drivers and promote better awareness toward safe driving. Awards could also be given for an injury- free workplace. Engage your drivers and workers on shared goals, which will help them work safely as a team, as well as on establishing individual goals. A safe work environment can help reduce not only your Workers’ Compensation experience, but also can lead to better claims experience and lower premiums on your Business Auto, General Liability, and Property Insurance.

» Engage in Loss Prevention Programs

Many times insurance companies offer loss control services. These services are suggestions, and at times requirements, that when implemented will help you reduce claims costs and may also translate into savings. The items listed in this “Money Saving Ideas” section are the very things that Loss Prevention Programs will key in on.

» Avoid Turning in Smaller Claims

Yes, you can save money by not turning in smaller claims to your insurer. In particular, frequency in the number of smaller claims tends to be viewed poorly by the insurance industry and may cause your premiums to rise.

Furthermore, by using higher deductibles you can take advantage of reduced premiums.

Transfer Your Risk. Insurance companies like to see, and in many cases require, the shifting of responsibility for claims to another person or organization and away from you. Why needlessly take claims on yourself when you don’t have to? This is standard practice in the contracting industry.

 

Typical Lines of Coverage You Should Know About

Insurance Agency Streetsboro & Uniontown, Ohio

BASIC COVERAGE TYPES

BASIC TYPE OF INSURANCE

Commercial Property The Commercial Property policy provides coverage for damage or destruction of your buildings and business contents. The industry standard Building and Business Personal Property Coverage form, coupled with a Cause of Loss form, and their attachments, complete the policy. Coverage is generally limited to insured property located at the described premises or within 100 feet.
Business Income Business Income coverage provides money for the continuation of your business operations after a covered loss, including normal ongoing operating expenses and payroll. Coverage is triggered by the necessary suspension of your operations, caused by direct physical loss or damage arising from a covered cause of loss at the described location.
General Liability Protects the business against lawsuits resulting from bodily injury or property damage related to your premises, operations, or products.
Employment Practices Pays for claims arising out of any of the following: refusal to employ, termination of employment, coercion, demotion, evaluation, reassignment, discipline, defamation, harassment, humiliation, discrimination, as well as other employment related practices.
Inland Marine While the Commercial Property policy limits coverage to the insured premises, or within 100 feet of that location, the Inland Marine policy is specifically designed for business property that is regularly away from the insured premises, such as contractors’ equipment, laptops, etc.
Employee Dishonesty  

Employee Dishonesty coverage will reimburse the employer for losses sustained resulting from the dishonest acts of its employees. The acts must cause the insured to sustain loss, and the employee to obtain a financial benefit.

Business Auto This provides protection for liability while operating the vehicles of the business, including loss or damage to the business vehicle.

How to Save Money on Your Insurance Premiums

Insurance Agency Streetsboro & Uniontown, Ohio

BASIC COVERAGE TYPES

BASIC TYPE OF INSURANCE

Umbrella Professional Liability How much coverage is enough? If you are not comfortable with the limit of liability provided by your Commercial General Liability Insurance or Business Auto Policy, then consider the addition of an Umbrella Liability Policy. The Umbrella Policy provides liability protection in excess of your primary insurance coverage for General Liability, Business Autos, and other liability coverage offerings encompassed in the Umbrella policy.
Directors & Officers Directors’ and Officers’ Liability Insurance functions as management liability protection. Remember that the scope of coverage in the General Liability policy is limited to Bodily Injury, Property Damage, or Personal and Advertising Injury; but what about the decisions that the directors and officers make every day? Not only do their decisions impact their employees, they also impact others in many ways.
Professional Liability Generally termed Errors or Omissions Insurance or Malpractice Insurance, this basic insurance policy excludes coverage for bodily injury, property damage, personal injury, and advertising injury due to the rendering or failure to render any professional services. Whether the loss to your client, or patient, is medically related or a financial loss, professional services liability is the right addition to your business insurance program.

The above descriptions are only a synopsis of some of the available coverage types and are no way inclusive of all coverage types that may be provided. Policies containing these coverages also contain certain exclusions, conditions, and limitations. Please consult your policy for the actual coverages provided and the extent thereof.

Does Your Insurance Agent Really Work for You?

Insurance Agency Streetsboro & Uniontown, Ohio

“Your insurance is a critical piece of the financial health of your business.”

An insurance professional has two groups that he must convince in the sales process. First, the agent must show the client that it is in their best interest to work with them. Second, the agent must demonstrate to the insurance company that it is in the best interest of that insurer to insure the client.

Remember that the insurance advisor acts as the eyes and ears of the insurance company. Not only is it important that you have an agent who is straightforward and trustworthy, but in terms of an agent’s ability to gain the best pricing they also must prove themselves trustworthy, honest, and knowledgeable to the insurance company. If they can position the client’s business positively to the insurance companies, the client is more likely to receive a more favorable rating.

There are several facets in positioning a business for presentation to an insurance company for pricing. First, the general conditions of the business in terms of management oversight, housekeeping, work type and/ or products and industries served must be presented effectively. Second, the effective use of risk avoidance is key. This means showing the business takes all precautionary measures to eliminate as much as possible the potential for a claim. This includes having proper guarding on all machinery and equipment, safe operation of autos, tow motors, and other mobile equipment, and well-trained employees who understand the inherent risks of their businesses and how to avoid dangers. Third, the effective use of risk transfer mechanisms is pivotal. A high-quality insurance advisor should be reviewing your contracts and giving input on how to best transfer risks onto other parties.

Once the insurance advisor positions the client’s business to the insurance company and the agent receives a quote, the next step is to walk the client through the proposed coverages. This should be done in an easily understood manner, with real-life examples, that bring the substantive issues to light. The agent should also show the premium breakdown of recommended coverages so the client can make an informed and highly educated decision on which coverages they wish to purchase.

Ultimately, the insurance advisor should position you to make the best decision for your business. It should not be about selling you on a fancy coverage that you may not need or that is so expensive that the potential risks do not outweigh the cost of carrying the fancy coverage. The job of the insurance agent is to be your advisor. They should arm you with the proper information so you can make the correct, educated decisions for your business. If you feel that your agent now is not informing you and is simply looking to sell you insurance without all the information, it is time to find a true insurance advisor.

Your insurance is a critical piece of the financial health of your business. Without it you would be unable to secure financing, would not risk business expansion into risky areas, and would simply avoid any type of activities that would expose the business to potentially harmful litigation. That said, most business owners presume that their insurance advisor knows how to best protect them; but is this true? How do you know your agent has your best interests at heart, or even understands how to construct proper protection? There are some key areas to gauge their level of knowledge.

Dirty Little Industry Secrets

Insurance Agency Streetsboro & Uniontown, Ohio

You Only Get to Deal with One Agent.

When dealing with Property & Casualty Insurance Companies you will only have one agent negotiating on your behalf since business is processed on a first come, first serve basis.

First in Sets the Tone.

The first submission received by an insurance company primarily sets the tone for how the rest of the process will go.

Differential Treatment Does Occur.

Depending on the reputation of the submitting agent, you may be looked at either negatively or positively. The old adage that birds of a feather flock together comes to mind in this case.

Lack of Trust Means Higher Premiums.

While it is true that insurance companies generally try to look at each piece of business independently, the fact of the matter is that we all have our biases. If an agent is a new agent to a particular insurance company then that company will not have the trust factor, which generally will translate into higher premiums and more restrictive coverages.

Selecting the Right Agent Upfront Is Critical.

The right agent can set a proper tone and give your business the best look to the insurers they represent. Why not start on the right track and put all of the best that experience has to offer working for you? We can help.

Agents Trash the Markets.

Unfortunately, an agent can either knowingly or unwittingly trash the insurance markets for a prospect or client. We generally see this happen in two ways. First, an agent can knowingly trash the markets by submitting incomplete underwriting information to an insurance carrier. When the carrier requests information they may either refuse to respond or simply provide information that does not paint the business in a very good light. In that situation an insurer will withdraw, or decline, to quote the risk. Second, an inexperienced agent can submit a piece of business and simply be unaware of how to position that business so as to obtain the best pricing. The result is that the agent either presents that insurance company as not willing to insure the client’s business or with a premium cost that is just too high.

Dirty Little Industry Secrets

Insurance Agency Streetsboro & Uniontown, Ohio

The Wrong Agent May Affect Your Claim.

Insurance is a promise to perform if a claim occurs. This means not simply putting you in contact with the claims department, but a true positioning of the claim so the adjuster can efficiently and effectively handle your claim. After all, the same principles of the path of least resistance are at work here. We also have solid working relationships with our claims departments. If there is any doubt, they call us and we talk through things together. After all, we built the policy, so we know what we were driving at when it was put together. How can an adjuster possibly execute flawlessly when there may literally be hundreds of policy pages? This is where a good agent will shine by putting their experience, knowledge, and trust together working for you and guiding the claims process.

Save Money by Choosing Your Agent Wisely.

A high-quality agent will have the experience to put together a high quality submission that carriers will want to work on. An ideal submission is complete in that it includes Loss Runs, driving records, risk questionnaires, photos of the facilities and operations, and a detailed executive summary explaining why this business would be an ideal client and beat the odds by generating excellent loss results.

It’s Not Too Late to Choose McMichael.

You can choose to deal with McMichael Insurance as the agent representing you, even if you started the process with another agent. A simple Agent of Record will allow you to work with us to make sure you get the best pricing and coverage value available.

“I have worked with McMichael Insurance for several years and never had an agent so attentive to my needs. They suggested a way to change my plan to offer more coverage at greatly reduced premiums. They are attentive to my questions and always answer completely and quickly. I highly recommend McMichael Insurance for their integrity and professionalism.”

Evaluating Your Insurance Advisor

Insurance Agency Streetsboro & Uniontown, Ohio

Here are some key questions to ask in order to evaluate your insurance advisor:

Is your advisor asking the right questions? In a recent article by Insurance Journal publications titled “7 Simple Underwriting Questions Nobody Asks,” the author lists a few simple, common sense questions that are often skipped by both agents and underwriters. Below are just a few of these questions:

Who owns the vehicle?

If the vehicle titling is not correct, you could very well have your claim denied. Although this basic question seems to be as simple as it gets, the answer has huge implications. If it is discovered that the vehicle is personally owned by the president of the corporation, or even an employee, this creates a claims issue because if the legal principlesof Insurable Interest are violated, this leaves the insurance company no option but to deny your claim, not only for damage to the vehicle, but also for protection for liability.

Who owns the building?

Once again, you could receive a notice that your claim may be denied, both for damage to your building and protection for the liability. Like the first question, this one too seems as though every agent and every underwriter would ask it when insuring real property. However, like the first question, agents and underwriters often just assume that because the building is on the existing policy or is being added to the policy, it must be owned by the named insured. But guess what? That’s a bad assumption. Many times the adjuster discovers, after the loss, that the building is actually owned by the president of the company, or by another entity created to hold the deed, and at that time it is simply too late to put measures in place to provide you with proper protection.

Do you now or have you ever done business as a limited liability company (LLCs) or partnership?

Are you now or have you ever been part of a joint venture? If the person or entity suffering or causing the loss, injury, or damage is not an insured, then there is no coverage. Insurance policies specifically exclude coverage for LLCs, partnerships, and joint ventures not specifically listed as a named insured on the policy.

We have “x” number of buildings on the policy. Is that correct?

Undeclared buildings have no coverage, but a simple question up front would help stave off problems at the time of a claim. McMichael Insurance has developed processes and procedures to eliminate the problems of unintentionally uninsured buildings.

Evaluating Your Insurance Advisor

Insurance Agency Streetsboro & Uniontown, Ohio

Are they using the proper evaluation tools? Like any job, the right tools are critical to the end result of a job well done. Would you entrust yourself to the operating table of a doctor who only used a hacksaw when all that was required was a scalpel? Or how about a dentist who only had a chisel and not a high-speed dental drill? Much like other industries, an insurance expert should be putting to use tools appropriate to the task. The following tools are generally needed for insuring most businesses:

 A Risk Analysis Checklist. This is not a risk questionnaire, but instead is a coverage checklist designed to capture the inherent risks related to a particular business type.

Statement of Values. These are used to identify insured buildings and the contents of each building. We have developed the use of these forms even further to the point of identifying buildings in which no coverage is requested.

Business Income Worksheet. This will help in determining proper limits of income protection for Insurance-to-Value purposes and then enable the insured to select an appropriate limit of insurance for their given industry type.

Checklist Proposals. Often we have seen an advisor present a one-page proposal for a very complicated insurance risk. How does the client even know what they are getting for their money when little or no coverage detail is presented? The more detail a proposal provides the better able you will be to size up what coverage you do have and do not have. Better yet, a checklist proposal will provide a menu of options for varying coverage types, and a synopsis of coverage definitions will further put you into a position to make wise decisions.

Access to Third-Party Independent Expert Sources, like FC&S. These expert sources help agents establish proper coverage up front and also help with claims resolution if a dispute should arise.

Do they bring forth additional recommendations with a “truly constituted” offer of coverage? There are coverage types that should be recommended, regardless of how simple or how complex a risk is. A laissez-faire attitude on the part of your insurance advisor does not serve the purposes of the business owner they have been engaged to protect. Every valid offer of coverage should consist of a description of coverage, with real examples and potential losses, and whenever possible a price for the corresponding coverage. An example of this is a business owner who elects not to purchase Employee Dishonesty coverage, and then three years later suffers a $300,000 embezzlement claim. Do you think the business owner would have spent $1,000 for each of the last 3 years to have this protection? Unfortunately, often business owners are not even given the opportunity to become aware of additional coverage options and in most cases do not have the necessary information to make an informed decision.

We Believe You Deserve Better. Do You Agree?

Insurance Agency Streetsboro & Uniontown, Ohio

WHAT OUR CLIENTS SAY

Thoughtful…

“I have been very happy with McMichael Insurance handling our numerous insurance plans. Not only have they helped us find gaps in our coverage and offered affordable solutions, they have also helped us reduce the costs of our existing policies. They have been a reliable business partner for NTMA.”

Doug DeRose, CFO
National Tooling & Machine Association

 

Responsive

“I highly recommend McMichael Insurance Agency! They invested time to thoroughly understand the business and provided the right package of services to suit the needs of the company. They respond very quickly and are very knowledgeable. The staff of McMichael Insurance can be counted on for a fast turnaround of insurance documents as needed.”

Scott Wulff, President
Wulff Enterprises, Inc.

Proactive…

“You didn’t just sell me a policy and walk away, but continued to bring helpful advice as the legal environment in my state changed. This resulted in you making a recommendation to change insurers in subsequent years to better protect my business in a changing legal climate. You brought issues to me that I wasn’t aware existed.”

Don Potoczek, President
GS Steel

 

Friendly and helpful…

“I have worked with McMichael Insurance for several years now. I have never had an agent so attentive to my needs. They suggested a way to change my plan to offer more coverage at greatly reduced premiums. They are attentive to my questions and always answer completely and quickly. I highly recommend McMichael Insurance for their integrity and professionalism.”

Tim Apel, President
AAA Homes, Inc.

 

Responsive and Professional…

“Cornerstone Capital Advisors has worked with McMichael Insurance for over 15 years now. They are responsive to our clients’ service needs and act in a professional manner. Their team does an excellent job of analyzing insurance and suggesting improvements. In many situations they have been able to improve our client’s insurance coverage and save them money at the same time.”

Mark Fearigo, Principal
Cornerstone Capital Advisors

Diligent and Competitive…

“I would like to share my appreciation for your diligent follow- up to the questions we had on our property and casualty insurance.

Your firm has handled several insurance policies for our church as well as me personally and I have always found your company to be thorough and fair while at the same time having competitive pricing on all products.”

Terry Klebes, Pastor
Fellowship Bible Church

 

“With McMichael’s professional involvement, I was able to recover an additional $44,000 from my insurance company. Their advocacy on my behalf, and their expert knowledge of insurance is truly amazing.”

Joe Salemi, Manager
Boulder Creek Golf Club

We Believe You Deserve Better. Do You Agree?

Insurance Agency Streetsboro & Uniontown, Ohio

“When an employee inadvertently poured diesel into the oil intake of a rented dozer, we were worried that there might not be coverage. After reviewing the claim with McMichael Insurance, they decided the best course of action was to utilize expert sources for opinions prior to submission of the claim. The claim was then submitted to the insurer. Not only was the claim paid, but their preliminary work on our behalf caused the claim check to be issued extremely fast and without question. McMichael’s experience and thoughtfulness of how to approach the claim, and the insurance company, literally saved our company over $11,000. We are extremely confident in their services and highly recommend their agency.”

John & Dory Blakey
Sitework Developing, Inc.

 

“We had a very unique business claim. McMichael Insurance guided us through the claims process. Utilizing their resources and expertise, they were able to recover our entire $48,000 loss. It helps to have an insurance broker who understands and knows the claims process.”

Dave Faiman, Vice President
T.L. Squire & Co, Inc.

“When an electrical surge damaged my computer and backup system, McMichael Insurance filed the claim. Because of their professional and experienced structuring of my insurance, I was not only able to have my computer replaced, but money was provided for all of my data to be reconstructed. Thank you for your excellent work on my behalf.”

Myrna Brueggeman, President
Orchard Plaza

 

“Being a contractor I have come to realize that quick response is critical to establishing facts in my favor. My first claims contact with McMichael Insurance was exceptional. They immediately went to work for me engaging the adjuster and within the hour they were able to show up at the job site to document the incident, take photos, and gather recorded witness statements. Their quick involvement in establishing that the claim was not my fault. The fact that they were in my corner fighting for me means that I can keep my paid claims low, which in turn helps keep my premiums low.”

Todd Steinel, President
Cementech, Inc.

“You did an absolutely great job working on our behalf with another insurance carrier in a claim that we did not believe was our fault. You stepped up to the plate and contacted the insurer with copies of our written agreements and made the argument for us. You did an excellent job of properly laying out the facts surrounding the claim, and were quickly able to resolve the issue. Not only was the claim against us dropped but you were also able to get the other insurer to pay for the damage done to our property. Without your help and expertise, we would have been out thousands of dollars!!!”

Jim Hauch
Spruce Tree Village

We Believe You Deserve Better. Do You Agree?

Insurance Agency Streetsboro & Uniontown, Ohio

WHAT OUR INSURANCE CARRIER PARTNERS ARE SAYING

“McMichael Insurance is a professional organization that is one of the best ambassadors for the reasons why we seek to make our products available only through independent agencies instead of direct marketing channels. They help us be a more professional organization, even as they continue to grow their own business through providing invaluable professional advice to their clients. They are continually and actively working toward satisfying their customers’ needs.”

Michelle Benz, Executive Vice President
Chief Sales, Marketing & Strategy Officer

 

“Grange Insurance Companies McMichael Insurance is a very knowledgeable and professional agency. They don’t simply replicate another agents work, but they individually assess the needs of their customers so as to carefully provide proper coverage and align them with strong insurance carriers. They take the time to put together a proper submission that enables the carrier to provide their best pricing & program.”

Kathy Lander, CIC
Senior Regional Director | Sales & Marketing The Cincinnati Insurance Companies

“McMichael Insurance is a true partner in every sense of the word. They engage with their carrier partners to help create innovative new products and coverages. They have helped to create popular new coverages in all major lines of insurance: personal, commercial and life insurance. The principals of McMichael Insurance have shown that they are drivers who know how to control their agency’s destiny. They are always challenging the status quo.”

John Ammendola, President & CEO
Grange Insurance Companies

 

“The principals at McMichael demonstrate a consistent concern for the welfare of the clients they represent. They work hand-in- hand with us to assure that when a moment of truth occurs, the true value of the right insurance for the right client shines through. They engage in open and honest dialogue to reinforce the importance of partnership.”

Paul Stachura, Chief Claims Officer
State Auto Insurance Companies

“McMichael Insurance has large agency capabilities with hometown values and strong relationship ties to their clients. As an insurance adjuster, their continuing high educational standards and level of professionalism makes my job much easier. This is a great agency.”

Jim Puster, CPCU, AIC Senior Claims Adjuster
State Auto Insurance Companies

 

“At the Hanover, we distribute our products through a very select group of independent agents that can effectively provide consultative advice, excellent service and value to customers. Our goal is to appoint the very best insurance agents in each specific geography. McMichael Insurance possesses the knowledge, professionalism and integrity that we expect from our agency partners.”

Donald W. Harmeling, Jr.
Regional Vice President Hanover Insurance

Claims Trending Now

Insurance Agency Streetsboro & Uniontown, Ohio

E-RANSOM NOTE RECEIVED

$50,000 is the demand, payable in Bitcoin. No, this is not a new version Monopoly game, but a terrifying reality that all of us business owners may one day face. Your computer data is being held ransom and the email says that for you to receive the encryption key you have to come up with the money and email it to them or they will wipe out all of your data. Ransomware is malware that encrypts all the files on your hard drive or website then holds forth a demand for payment in order for the encryption to be removed.

BANK ACCOUNT FUNDS STOLEN ELECTRONICALLY

Your money is gone. Gone, whereas just last Friday your online banking account registered $400,000. It’s Monday morning and you are itching to conquer the world, but this isn’t how this week was supposed to start. What could possibly kill the entrepreneurial spirit quicker than logging in to your online banking site only to find a big goose egg in your bank account? I know this sounds crazy, but this is the interconnected digitized world in which we live. Sure, we experience great efficiencies but we also have criminals lurking to take what we have labored so hard to build.

EMPLOYEE IS CAUGHT STEALING

The forensic accountant you hired to review your books just delivered the blow. $300,000 is the total stolen during the last five years. You sensed there was an issue but you just couldn’t put your finger on it until a fellow employee called out the thief, a trusted employee who was faithful in his attendance. What you didn’t know at the time was that the employee, who came to work every day, lunch pail in hand, left each day with a heavier lunch pail than when he arrived. You see, brass fittings weighed more that the sandwiches he brought to work. Day by day he was bleeding the company of profits. Your business sales were up but it just didn’t translate to bottom line profits and now you know why. But even worse news was delivered when you turned your claim into the insurance company only to find out your insurance covered a mere $5,000 of the loss.

ELECTRICAL SURGE BLOWS AWAY COMPUTER DATA

The lights aren’t working in the office today. Then again, the building is far too silent. After further investigation you realize that all the electricity in your building is off. The electrician is called and upon inspection it is discovered that electrical arcing caused a surge throughout your electrical system, damaging your electrical panel, air conditioners, security system, and computers. Good thing your technician installed that RAID array of hard drives to your computer server. RAID stands for Redundant Array of Independent Disks, whose purpose is to simultaneously mirror the backup of your data to three hard drives at the same time. The odds of losing all 3 RAID hard drives at the same time is impossible, or so you are told. But today isn’t your lucky day. Your data is gone! But there is a bright spot; for the mere cost of $17,000 you are able to hire data recovery specialists to gain back much of the data but another 400 hours of data entry are required on your part to finalize the project.

 

CONTRACT CAUSES COVERAGE ISSUES IN EXTENSIVE WATER DAMAGE CLAIM

A roofing subcontractor is hard at work on a local university school project. The mistaken installation of a vent, coupled with an unexpected rain storm and high winds, deluges the building with water. The problem is that the general contractor, who hired the subcontractor, put a provision in the contract requiring the roofer to include that general contractor as an additional insured. After $300,000 of damage and the involvement of multiple lawyers the situation was eventually resolved. Contracts play a major part in determining who is responsible for what damage and to what degree. You may even be responsible despite having little to no involvement in the incident.

Code of Excellence

Insurance Agency Streetsboro & Uniontown, Ohio

Our Code of Excellence is your guarantee that all of the staff of McMichael Insurance are trained to follow a proven process of risk assessment, coverage determination and recommendations, and implementation of those coverages you deem important to the financial well-being of your business. We also promise to deliver to you unparalleled levels of service and ethics. This is our promise of excellence to you.

OUR COMMITMENT TO YOU AND YOUR MANAGEMENT TEAM:

  • We will work ethically and responsibly in all of our business dealings. We will operate on the principle of the “Golden Rule” and treat you with the respect, dignity, and forthrightness with which we expect to be treated.
  • We will always serve the interest of our clients and to place them ahead of our own.
  • If we find our timeline for new business processing is not on track, we will contact you and let you know the reason and provide you with an adjusted time line.
  • We will have difficult discussions with our clients if we see trends in their claims experience that will have a detrimental effect upon their future premiums or insurability.
  • While we strive for flawless execution in every instance. The reality, however, is that people do make mistakes. In those rare instances where we make a mistake we will readily admit our mistake and do everything in our power to remedy the situation to your benefit.
  • We will provide you with tools to empower you to select coverage not reviewed in the proposal process, including a synopsis of coverage that will put you in control of your selection of coverage.

Contact Information

Insurance Agency Streetsboro & Uniontown, Ohio

To begin the process of working with a true insurance professional and consultant, please contact McMichael Insurance in one of the following ways:


CALL

1-800-695-4900

EMAIL

SALES@MCMICHAELINSURANCE.COM

and ask to speak with a commercial lines sales associate.

When contacting us please be prepared to provide us with your name, email address, business name, and contact information.

By making this call you will be on the path to proper protection and superior service from an insurance agency that knows how to work for you with your best interest in mind.

WWW.MCMICHAELINSURANCE.COM

Our Customers

McMichael's did an amazing job with reducing my insurance cost by almost double. Same coverages I was getting with my current insurance company. I'm very pleased with how easy and professional they treated us in the transition to our new insurance policy. Thanks Mark.
John Crawford
John Crawford
21:16 11 Jun 24
Very easy to work with and very helpful!!!
Doug
Doug
09:53 10 Jun 24
We are delighted to be a client of McMichael Insurance. It is a pleasure to work with Brian Wolf, Dennis McMichael, Mark McMichael and their team. They fulfilled our needs quickly and efficiently They provided detailed care with professionalism, accuracy, and genuine friendliness. They truly are Client Experience Managers. McMichael Insurance is the Right Agency with the Right Price, Right Coverage and First-Class Service.
Joe Thomas
Joe Thomas
15:33 05 Jun 24
I was simply blown away with the price I received for both my home and autos. Dennis provides great service and doing all this through email and even signing digital was a great help in my busy life. I should have done this year ago and even better yet, supporting our local business is a win win. Thank you from the Lampas
mike lampa
mike lampa
13:46 03 Jun 24
Saved money on car insurance!
Robert Wallerstein
Robert Wallerstein
13:42 14 May 24
Sherry Barnes was great and super helpful. Very informative and professional and answered all questions.
Diana Lopez
Diana Lopez
13:39 30 Apr 24
Great customer service!
Roberrt C
Roberrt C
22:00 18 Apr 24
I have been with McMichael Insurance for many years. Great service. Faith Recchion is my go to agent.
Cheryl DeCavitch
Cheryl DeCavitch
18:30 17 Apr 24
Sherry has been wonderful in finding me the best and most affordable insurance coverage! Terrific company!
Donnamarie
Donnamarie
14:01 17 Apr 24
We received great service.
Dave T
Dave T
13:58 17 Apr 24
Dennis McMichael is expert in the field of insurance; he knows the details and applies them to the best interest of our family: understanding our needs and applying solutions is a skill set he has and I don't. This seems like a simple problem but its not. One has got to TRUST the judgement of one's agent: fully and completely. In this regard Dennis, and the McMichael team are the best in the business in crafting packages to meet needs. In our case it is a package of home, auto, health, and umbrella policies which interact to provide an effective shield against disaster and improve day-to-day living. Over time the team has helped us make changes to improve our evolving coverage requirements. The McMichael team are always ready to answer questions and provide suggestions; mostl importantly, we are never alone.
Thomas Mlinar
Thomas Mlinar
14:28 16 Apr 24
Great Experience with Dennis. Was able to save us a significant amount on our insurance. We were also able to increase our coverage, and still have savings versus what our current insurance company was charging. Will definitely be referring business to them.
Mary Bezzeg
Mary Bezzeg
13:51 16 Apr 24
I have been dealing with Faith Recchion at McMichael Insurance. Her communication has been very professional and response to all inquiries has been in a timely fashion. Found me the best rates for home and car year after year.
Greg Pastor
Greg Pastor
22:01 02 Apr 24
Best insurance experience I have had!I love that they send you a video of their proposal and explain everything!Not too bad that they found me the best rates as well!
Tony L Orth
Tony L Orth
23:43 01 Apr 24
Have been a client for decades. Never will choose another company.
Tara Centea
Tara Centea
20:44 28 Mar 24
Dennis was incredibly helpful and efficient in helping me get in contact with my insurance adjuster. He responded immediately to my concerns and was friendly and understanding of my frustration. He went to bat on my behalf and got results immediately. Thanks Dennis!
Sarah Jeppesen
Sarah Jeppesen
03:10 28 Mar 24
I really appreciate their help and orientation, they take the time to answer all your questions and overall, it's a great option to get your insurance from!!
Juan Rivera
Juan Rivera
19:21 23 Mar 24
Great attention and willingness to help find the best option for me!
Antonio Rivera
Antonio Rivera
18:16 13 Mar 24
Wonderful to work with! I would highly recommend!
Ashley Hendricks
Ashley Hendricks
17:55 12 Mar 24
My customer needs have always been exceeded in working with Dennis McMichael. His experience is such a plus and I always feel protected with the best possible insurance solutions to needs. He is prompt and follows up on everything. At the same time, I have always saved money in working with his business relations! Dennis McMichael is old school and truly believes in follow up.
Terry Stilla
Terry Stilla
12:01 12 Mar 24
Sherry is absolutely amazing! She went through all of my policies and found the best matches for my needs and saved me money! She was very thorough, knowledgeable and got back to me quickly. 10/10 recommend!
Tiffany Yanulaitis
Tiffany Yanulaitis
13:56 07 Mar 24
McMichael Insurance works hard for their clients. Any and every time I called with a question or statement, they answered it promptly. They all were very helpful. The office staff was interested in in the client as a person as well. My wife and I are very pleased with McMichael Insurance.
Dan and Lisa Fouser
Dan and Lisa Fouser
21:35 01 Mar 24
Working with Kathryn and Brian made the switch to McMichael simple and flawless. They took the time to explain things we didn't understand and to make sure we had the coverage we need. My favorite part about working with McMichael Insurance is the additional benefits like online training, tips, tools and webinars that ensure my staff is up to date on current policies and trends that could affect our small nonprofit in Columbiana County.
Chaney Nezbeth
Chaney Nezbeth
13:37 01 Mar 24
Faith was wonderful! Found me the best deal on the market. Thanks!
Marcus Still
Marcus Still
18:46 28 Feb 24
always very helpful at answering questions and resolving issues on telephone the first time.
Harold Redman
Harold Redman
16:41 19 Feb 24
The service and expertise Sherry provided was amazing. She really worked hard to find us/get us the best quote! Really pleased to change carriers and to now work with McMichaels.
Joshua Ralston
Joshua Ralston
18:28 15 Feb 24
Dennis was so helpful and patient! He took time to answer all my questions and made sure I understand all the coverage changes I wanted to make. I appreciate all of his help and going out of his way to assist me in setting up my new insurance! So thankful for a caring company!
Alyssa Nagy
Alyssa Nagy
16:41 15 Feb 24
Dealt with Debbie, Brian and Dennis on multiple policies. Excellent service. Subject matter experts in the field. Difference between them other past agents, was that they asked questions on things I didn't even know to ask to ensure I was properly insured with proper amounts. Understood my needs. Having been through the Hurricane experience, I understand the importance of good policy/companies. Many INSUR companies will take your money but won't pay out or support you when times comes. Fortunately, in FL, I had great INSUR company. My point? Definitely want educated agents who are experts and honest. Hands down, best service I ever had, and I was with USAA for 27 yrs. Thank you and appreciate excellent customer service. Definitely recommending them to my family and friends.
Sonny Veteran1
Sonny Veteran1
15:55 15 Feb 24
the coverage they found me was apples to apples to the former company i had at half the cost. A 50% savings a year is a great help pushing retirement years. Thanks again McMichael Insurance.
John Gerard
John Gerard
14:53 13 Feb 24
Sherry was great to work with and very knowledgeable about the products and recommendations. I highly recommend her and McMichael Insurance if you are looking to get the best service and price.
john brown
john brown
14:20 12 Feb 24
Sherry is a very knowledgeable and pleasant person. I could not have asked for a better resource for my insurance needs. Thanks.
Rod Reamer
Rod Reamer
13:03 09 Feb 24
Absolutely best company around!
Ashley Teeple
Ashley Teeple
19:33 07 Feb 24
They make things easy
Pat Minotti
Pat Minotti
14:38 07 Feb 24
Agents are always pleasant and helpful and are available to answer questions. There were no issues with my most recent claim experience. I would recommend McMichael Insurance for all your insurance needs.
April Woodland
April Woodland
21:21 04 Feb 24
I needed to get some new quotes and Faith at Mcmichaels went above and beyond at getting me what I needed for insurance. She listened to me and it was a pleasure to work with her.
John Seaburn
John Seaburn
22:42 01 Feb 24
McMichael Insurance has helped me with my insurance needs for home, auto and watercraft for many years. Whenever I need assistance, I always find them to be kind, professional and thoroughly knowledgeable. They communicate well and follow through with their commitments. I greatly appreciate the partnership we’ve built over the years.
Scott & Jeri Clark
Scott & Jeri Clark
14:59 01 Feb 24
I've used McMichael for about 20 years now. They have always gone above and beyond to make sure my questions are answered, and I have the appropriate coverage.
Dan Kort
Dan Kort
02:49 01 Feb 24
Sherry is great to work with. Patient and very knowledgeable.
YOUR DENTAL HYGIENIST
YOUR DENTAL HYGIENIST
14:38 29 Jan 24
Sherry was very helpful through the process and helped us secure insurance for our investment property on such short notice. Thank you
One Family One Home
One Family One Home
15:43 24 Jan 24
Can't thank enough to Mark for helping me with the perfect home insurance which is cost effective and covers everything I was looking for.Thanks.
Samir Hasan
Samir Hasan
14:54 22 Jan 24
We have held our insurance (home, auto and life) through McMichael Insurance for quite a few years upon recommendation from our financial advisor. They are not only honest and helpful but empathic and relatable. Over the years I have had various insurance questions and concerns, and never once have I hesitated to call them. I never feel rushed or leave the conversation feeling like I didn't have my question answered. They are patient as well as reliable. Most recently I have had to file a claim and Dennis was more than willing to take the time to walk me through the process as well as offer personalized advice on the details of how to handle things going forward. I even received a follow up phone call today checking to make sure the process was going smoothly. I couldn't ask for any better service and would highly recommend McMichael Insurance.
hon350
hon350
00:56 19 Jan 24
Excellent communication and response
James Scoby
James Scoby
14:14 18 Jan 24
They got me a great policy with a wonderful price!
TROY TOMCZAK
TROY TOMCZAK
22:29 17 Jan 24
A wonderful experience, wish it were free . . .
William
William
15:22 11 Jan 24
I feel that Dennis did a wonderful job he was able to negotiate me a really good price on my insurance.
Rochelle Ford
Rochelle Ford
14:27 09 Jan 24
Sherry was so nice! Fantastic! Highly recommend.
Kelly Ward
Kelly Ward
14:31 08 Jan 24
Sherry was wonderful at finding me the best rate with the most coverage. She was very friendly and prompt with the contract. I highly recommend McMichael.
Renee Davidson
Renee Davidson
14:15 27 Dec 23
Dennis McMichael and Melissa Carr are exceptional. They helped me to navigate through all of my changes. When I left a message I was promptly called back. Great Company & Great people.
John Mcmahon
John Mcmahon
17:42 21 Dec 23
Best insurance! They were able to provide me good home insurance. Recommend Sherry Barnes
Sohee Moon
Sohee Moon
20:15 18 Dec 23
The most amazing service and staff!!!
Michael Mariana II
Michael Mariana II
14:54 12 Dec 23
Sherry Barnes at McMichael Insurance was most helpful in finding home and auto insurance that met our needs and budget. She not only found much better coverage than our previous policies but premiums that are substantially less than what we have been paying. We are glad we contacted McMichael Insurance.
Chip Lago
Chip Lago
18:26 11 Dec 23
Great to work with Sherry!
Kirk Manton
Kirk Manton
14:48 07 Dec 23
Dennis McMichael is an excellent insurance agent that works exclusively to help his clients save money and receive the best coverage available.
Don Garrini
Don Garrini
20:58 06 Dec 23
Dennis and the staff were very thorough and professional and they seemed genuinely interested in my satisfaction. I would highly recommend them for all your insurance needs.
Tom Scudiere
Tom Scudiere
19:23 28 Nov 23
I have been with McMichael for many years now and they have always taken care of my needs. Debbie Craft is amazing to work with. I spent over an hour on the phone with her asking question after question and she never tired. She never gave the sense that it was time to move on to the next customer. She followed up when she said she would and delivered just as she said she would. She saved me over $1,000/year. Extremely pleased customer here.
Don Giddens
Don Giddens
16:58 26 Nov 23
My insurance agent was unavailable-so glad Debbie Craft took my call!. After hearing that my hail damage claim was rejected, she immediatly put me through to her superviser who came to my home to discuss the claim. Thanks to Debbie's initial intervention, I ended up receiving a substantial sum. She also got me a fantastic deal on insurance for my antique car. In both cases her actions were imediate-effeciency should be her middle name!
stew langenbeck
stew langenbeck
17:44 21 Nov 23
We have had insurance with them since the 1990's.
Janice Miller
Janice Miller
14:35 21 Nov 23
Thank you for staying on top of my policies and your easy professionalism.
Robin L. Brower
Robin L. Brower
15:07 17 Nov 23
Dennis and Dawn are amazing to work with. One hopes to never need to file an insurance claim but when it is necessary, I would not want to have to navigate the situations without an advocate! For example, on one occasion, I was rear-ended on the freeway in Columbus during rush hour. When I called the police, I was told that since the vehicles were drivable, no officer would be dispatched. Not knowing what to do, I called my insurance agent, Dennis. Dennis talked with both the other driver and me to document all the necessary information to file the claim. Who does that?? Well, MY insurance agent does that!!And Dawn is a problem solver! When our mortgage was sold to another company, there was a lot of confusion between the banks and our insurance premiums were paid to the wrong bank. Dawn spent a lot of time working through those details to clean up a mess that wasn't of her doing!People will often tell me that they like buying insurance directly without using an agent. For me, that's not an avenue I wish to take. I want the benefit of knowing I have a group of people ready to intervene when (not "if") life happens!
Kim McNamara
Kim McNamara
21:30 16 Nov 23
Sherry Barnes at McMichael Insurance is just superb. She’s attentive, knowledgeable and very friendly. Im now paying HALF of what I was paying for home and auto insurance!
Stunt Cat
Stunt Cat
15:02 16 Nov 23
worked with Sherry. after several phone calls/emails, I ended up buying new policies via her. Saved some $ vs. auto renewal with another mainstream insurance company.
David Chen
David Chen
15:32 15 Nov 23
Very responsive
Jeremy Rentz
Jeremy Rentz
14:14 15 Nov 23
I'm a new customer with McMichael Insurance, transferring from a long-standing relationship with another agent. Making the switch to McMichael's was difficult because of my prior relationship with my tried-and-true agent, but had to be done due to shifts in the market and our needs. Dennis worked with me so thoroughly and with such empathy and patience that I felt I was moving from one caring agency to another. I felt understood and held very competently by Dennis and his team. A big thanks for helping us on this new journey!!
Dave Schrader
Dave Schrader
17:14 14 Nov 23
Professional service . Excellent!!
Benoy Michael
Benoy Michael
15:58 13 Nov 23
Brian was very attentive, delivered exactly what we were looking for!
joel orellana
joel orellana
14:24 13 Nov 23
New client. JimGreat experience!
Greg Theirl
Greg Theirl
14:28 10 Nov 23
It is always a pleasant experience working with the McMichaels. They explain everything thoroughly and there is never any pressure.
Ginny Curran
Ginny Curran
21:13 09 Nov 23
Sherry is very friendly and extremely helpful and knowledgeable.
Martin Carlton
Martin Carlton
17:21 08 Nov 23
All my questions are answered quickly and expertly. Their advice has always proved to be trustworthy. They are kind and eager to be helpful.
Sheryl Buckley
Sheryl Buckley
21:26 02 Nov 23
McMichael Insurance has provided our company many years of exceptional service. The whole team at McMichael Insurance has been outstanding. Kathryn Wolf (Senior Mgr),our Acct Mgr, and has been nothing but superb. You will be more than satisfied with the quality of service this agency provides.
Jeff Judd
Jeff Judd
19:27 31 Oct 23
Dennis is super quick to respond and very helpful! A+ in my book! He is definitely in my "CIRCLE OF TRUST" when it comes to professionals!
J M
J M
19:11 30 Oct 23
Sherry was very helpful and charming with getting our home and auto insurance set up. We appreciate her hard work and look forward to working with McMichael Insurance.
Joe Howell
Joe Howell
16:26 27 Oct 23
Sherry was incredibly helpful in explaining all options and coverages. She even took time to give suggestions based on best possible value. I couldn't be happier with the coverage she found me.
Jared Markwald
Jared Markwald
20:13 18 Oct 23
Great prices on insurance, helpful and friendly customer service !!
Roger RogerM
Roger RogerM
16:46 17 Oct 23
I like dealing with an agent vs. a website andSherry did a great job setting up insurance for my car.
Thomas Pawlik
Thomas Pawlik
13:47 12 Oct 23
If I could rate in half stars, I would say 4.5 stars. Sherry was professional and found a good deal on my bundled insurance. Would recommend.
Daniel Kopinsky
Daniel Kopinsky
22:21 11 Oct 23
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