Simon Insurance Agency

What Simon Insurance Agency does

Simon Insurance Agency is an independent insurance agency founded in 1981 and headquartered at 100 E. Bridge Street, Portland, Michigan. Operating with a 1–10 employee team under the leadership of founder/co-owner Mike Terranova and CEO Theresa Meyer, the agency sells personal and commercial insurance products across the state of Michigan via a multi-carrier distribution model. Personal lines encompass home, auto, life, renters, umbrella, condo, flood, motorcycle, watercraft, classic car, RV, wedding, and high-net-worth coverage; business lines include a business owners policy, commercial property, business auto, workers' compensation, general liability, cyber liability, commercial umbrella, directors and officers, employment practices liability, errors and omissions, and liquor liability; and the agency packages industry-specific offerings for contractors, restaurants, retail, grocery, and professional service firms.

The firm's revenue model is commission-based: as an independent agent it represents 17+ insurance carriers including Progressive, Safeco, Hanover, AAA, Liberty Mutual, Accident Fund, AEGIS, American Modern, ASI, Bristol West, Farmers Mutual of Michigan, Foremost, Hagerty, Michigan Insurance, Secura, State Auto, and Wolverine Mutual, with Progressive, Safeco, and Hanover designated as core partners. Pricing is quote-based on individual risk, with annual billing cadence, and is not publicly disclosed. Distribution is purely direct: walk-in to the Portland office, phone (517-647-7111), email ([email protected]), and website-based personal and business quote-request forms. Marketing channels include the agency website and service center portal, Facebook/LinkedIn/Instagram, an educational blog covering topics like phishing and umbrella coverage, community event sponsorships (Portland Cruisers, Portland Community Theater, VFW Post 4090), and a referral program that donates $5 per converted referral to a local food bank. Leadership also includes Office Manager/Insurance Agent Danielle Kingery and Insurance Agent/CSR Yasmine Manning. The technology stack is described as a standard independent-agency operations platform with basic website and service-center features; no AI, API, or proprietary technology capability is disclosed.

Name

Simon Insurance Agency

Legal name

Simon Insurance Agency

Website

https://simon-insurance.com

Company type

Private

Founded year

1981

Operating status

Operating

Headcount range

1–10 employees

Short description

Simon Insurance Agency is an independent insurance agency founded in 1981 in Portland, Michigan, selling personal and commercial insurance via 17+ carrier appointments to individuals, families, and small businesses throughout Michigan using direct office, phone, email, and website channels.

Ownership category

akta.pro rank

Product category

Insurance Agency Services

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331), Life Insurance (6311)

akta.pro primary industry

Management Liability (D&O/EPL/Fiduciary) (FSAJAGAD)

akta.pro secondary industries

Directors & Officers (D&O) Liability (FSAJADAF), Professional Liability (Errors & Omissions) (FSAJADAB)

Keywords

• Independent insurance agency
• Personal insurance
• Business insurance
• Commercial insurance
• Insurance brokerage

Headquarters

HQ city

Portland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Insurance Commissions: As an independent insurance agency, Simon Insurance Agency earns commissions from insurance carriers for policies sold. They represent multiple insurance companies including Progressive, Safeco, Hanover, AAA, and others, earning referral or written premium commissions on each policy.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Simon Insurance Agency is an independent insurance agency established in 1981 that sells personal insurance (home, auto, life, renters, umbrella, condo, and specialty lines) and business insurance (business owners policy, commercial property, business auto, workers' compensation, general liability, cyber liability, and industry-specific coverage) to individuals and small/mid-size businesses in Michigan. The agency represents multiple insurance carriers including Progressive, Safeco, Hanover, AAA, and Liberty Mutual, providing clients with comparative quoting, policy servicing, and claims support through its Portland, MI office.

Product overview

Simon Insurance Agency is an independent insurance agency established in 1981 offering a comprehensive portfolio of insurance products and services. The agency provides Personal Insurance products (home, auto, life, renters, umbrella, condo, high net worth, motorcycle, watercraft, classic car, flood, bundled home/auto, RV, wedding insurance, and more) and Business Insurance products (business owners policy, commercial property, business auto, workers' compensation, general liability, cyber liability, umbrella, directors and officers, employment practices, errors and omissions, and liquor liability). The agency also offers specialized Insurance by Industry coverage including contractor, restaurant, retail, grocery store, and professional services insurance. As an independent agency, they represent multiple insurance carriers including Progressive, Safeco, Hanover, AAA, Liberty Mutual, and others to provide customized coverage options for clients.

Differentiator

Problem solved

Functional benefit

Products and services

• Home Insurance Protects the home and family against risks such as fire, property damage, personal liability, additional living expenses, personal property, jewelry, and flood damage for individuals and families.
• Auto Insurance Provides coverage for vehicles including bodily injury liability, property damage, medical payments, uninsured/underinsured motorist, physical damage, and rental coverage for individual vehicle owners.
• Individual Life Insurance Safeguards the financial future of family members through term, whole, or universal life insurance policies covering funeral costs, mortgage payments, income replacement, and retirement protection.
• Renters Insurance Covers personal belongings, liability, and additional living expenses while renting, protecting against events like fire, vandalism, water damage, and theft.
• Umbrella Insurance Adds an extra layer of liability protection beyond auto and home insurance limits, covering property damage, bodily injury, lawsuits, and watercraft liability.
• Condo Insurance Protects personal property and improvements within condo units, covering betterments, additional living expenses, personal liability, and loss assessment.
• High Net Worth Insurance Provides comprehensive coverage for individuals with significant assets, combining home, vehicle, travel, and life insurance tailored to unique risks and lifestyle needs.
• Motorcycle Insurance Provides coverage for motorcycles and riders against liability, physical damage, and other risks associated with motorcycle ownership.
• Watercraft Insurance Provides liability and physical damage coverage for boats and water vessels.
• Classic Car Insurance Provides specialized coverage for collector or classic vehicles requiring unique documentation and protection.
• Flood Insurance Protects homes and contents from flood losses through the National Flood Insurance Program (NFIP) or servicing carriers.
• Home and Auto Insurance (Bundled) Combines coverage for both home and auto properties, offering discounts for customers who consolidate their policies with one carrier.
• RV Insurance Provides coverage for recreational vehicles including motorhomes and travel trailers.
• Wedding Insurance Provides coverage for special events including protection against cancellation, liability, and property damage.
• Business Owners Insurance Business owners policy (BOP) combines business property and liability insurance into one policy, covering errors and omissions, directors and officers liability, crime, environmental insurance, systems breakdown, and cyber liability for small to mid-size businesses.
• Business Auto Insurance Covers vehicles owned or leased by a business with higher liability limits, collision coverage, and non-owned auto liability for employee vehicles used for work.
• Commercial Property Insurance Protects business property, equipment, and buildings from damage, loss, and theft, covering associated losses like lost income.
• Workers' Compensation Insurance Provides coverage for employees injured at work, covering medical bills, care costs, lost wages, and funeral costs in worst-case scenarios.
• General Liability Insurance Provides protection against bodily injury to people outside the business and physical damage to their property.
• Cyber Liability Insurance Covers unauthorized access to electronic data, spreading viruses, computer theft, extortion, and employee errors related to data security.
• Commercial Umbrella Insurance Provides high limits of insurance typically between $2,000,000 and $10,000,000, extending over general liability, workers' compensation, and business auto coverage.
• Directors and Officers Liability Insurance Protects senior individuals of a company from lawsuits claiming negligence in performance of their duties.
• Employment Practice Liability Insurance Protects businesses from alleged employment-related acts such as wrongful termination, discrimination, and sexual harassment.
• Errors and Omissions Liability Insurance Protects businesses that give advice, make recommendations, or design solutions for clients from claims of errors or omissions that harmed the client.
• Liquor Liability Insurance Protects establishments that sell or serve alcohol from financial losses related to incidents involving liquor.
• Contractor Insurance Covers multiple risks for contractors including builders risk, business auto, commercial property, contractor's equipment, general liability, inland marine, and workers' compensation.
• Restaurant Insurance Covers food spoilage and contamination, general liability, liquor liability, commercial property, cyber liability, employment practices, and business income for restaurants.
• Retail Business Insurance Protects retail stores from unexpected expenses including temporary closure due to property damage, business crimes, forged checks, and theft of customer information.
• Grocery Store Insurance Provides coverage for building, commercial property, spoilage, boiler and machinery, druggist liability, liquor liability, product liability, and cyber liability for grocery stores.
• Professional Services Insurance Covers service-oriented businesses like photography, beauty services, financial advice, and consulting from client lawsuits through errors and omissions liability.

Quantifiable outcome

• Over 40 years of continuous operation serving the Portland, MI community

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

23 partnerships are on record, tiered core and minor.

• Progressive InsurancecoreOthersPrimary insurance carrier represented by Simon Insurance Agency. Provides auto, home, and various personal insurance products through the independent agency channel.
• Safeco InsurancecoreOthersInsurance carrier represented by Simon Insurance Agency, offering personal insurance products including home and auto coverage.
• Hanover Insurance GroupcoreOthersMajor insurance carrier partner providing commercial and personal insurance products through independent agents like Simon Insurance Agency.
• AAAminorOthersInsurance company represented for auto and travel insurance products.
• Accident FundminorOthersWorkers compensation insurance carrier for business clients.
• AEGISminorOthersInsurance carrier providing coverage options through independent agents.
• American Modern (AMIG)minorOthersSpecialty insurance carrier for manufactured homes and niche products.
• American Strategic Insurance (ASI)minorOthersPersonal insurance carrier offering home and related coverage.
• Bristol WestminorOthersAuto insurance carrier for non-standard coverage.
• Farmers Mutual of MichiganminorOthersRegional Michigan-focused insurance carrier providing farm, home, and auto coverage.
• Foremost InsuranceminorOthersSpecialty insurance carrier for manufactured homes, motorhomes, and specialty properties.
• HagertyminorOthersClassic car and collector vehicle insurance specialist.
• Liberty MutualminorOthersMajor national insurance carrier for auto, home, and business coverage.
• Michigan InsuranceminorOthersMichigan-based insurance carrier offering home and auto products.
• Secura InsuranceminorOthersMidwestern insurance carrier for home, auto, and business coverage.
• State Auto InsuranceminorOthersRegional insurance carrier offering personal and commercial insurance products.
• Wolverine MutualminorOthersMichigan-based mutual insurance company serving regional customers.
• Portland Community FundminorOthersLocal nonprofit partnership for community involvement. Agency participates in coat drive, Backpacks for Bellies, and Christmas Giving Program.
• Portland Community TheaterminorOthersLocal theater organization partnered for community initiatives and shared community commitment.
• Portland CruisersminorOthersLocal car show organization sponsored annually by Simon Insurance Agency. Funds raised go to area causes.
• VFW Post 4090minorOthersVeterans of Foreign Wars post supported through annual golf outing sponsorship and ongoing support.
• BackPacks for BelliesminorOthersNonprofit helping provide meals to local schoolchildren on weekends. Simon Insurance supports through donations.
• The Soup ProjectminorOthersCommunity volunteer effort providing free meals to elderly and those in need weekly in Portland School District.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Hub International: Large North American insurance brokerage with extensive retail agency operations distributing personal, commercial, and specialty lines. Offers overlapping capabilities to Simon across product categories but as part of a much broader national platform.
• Arthur J. Gallagher & Co. One of the largest global insurance brokerages with substantial retail agency operations offering the same personal, commercial, and specialty products Simon distributes through its carrier appointments — overlapping category, vastly larger scale.
• Allstate: Major US national insurance carrier with captive and some independent-agent distribution, competing for the same personal and small-commercial customers Simon Insurance Agency targets across Michigan with its bundled home/auto and small-business offerings.
• Brown & Brown, Inc. Public insurance brokerage distributing personal, commercial, and specialty lines through a national network of agency offices that serve the same customers and product needs as Simon Insurance Agency, but at much larger scale.
• State Farm: Largest US personal-lines carrier distributing through captive agents, competing for the same home, auto, life, and small-business customers Simon serves in Michigan under a fundamentally different (exclusive-representation) channel model.

Regional players

• Auto-Owners Insurance: Michigan-headquartered regional insurance carrier that distributes through independent agents in the same Michigan territory where Simon operates. Auto-Owners is both a current competing channel (customers can buy direct through other agents) and a carrier appointment for independent agencies like Simon.
• Frankenmuth Insurance: Michigan-based regional insurance carrier and independent-agent distributor of personal, commercial, farm, and specialty lines. Operates as a carrier partner competing in the same Michigan geography through the same independent-agent channel Simon uses for many of its products.
• Erie Insurance: Regional mutual insurance carrier that distributes personal and commercial lines through independent agents in similar suburban/rural footprints. Operates as both a competing channel and a potential carrier appointment for agencies like Simon Insurance Agency.

Direct peers

• Leavitt Group: National network of independent insurance agencies providing the same multi-carrier, personal-and-commercial-line brokerage model that Simon Insurance Agency operates. Direct functional peer at network scale, with shared independent-agent economics and carrier appointment structure.
• Acrisure: Tech-enabled insurance brokerage built largely by rolling up independent agencies like Simon. Competes in the same distribution model — aggregating personal and commercial lines through independent agency channels — but operates at vastly greater scale with proprietary technology.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/SimonInsuranceAgency
• LinkedInlinkedin.com/company/simon-insurance-agency
• Instagraminstagram.com/simoninsuranceagency

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Simon Insurance Agency