miyfinal.htm - Generated by SEC Publisher for SEC Filing

UNITEDSTATES
SECURITIESANDEXCHANGECOMMISSION
Washington,D.C.20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-07080

Name of Fund: BlackRock MuniYield Michigan Insured Fund, Inc. (MIY)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock
MuniYield Michigan Insured Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536.
Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 07/31/2009

Date of reporting period: 04/30/2009

Item 1 – Schedule of Investments

BlackRock MuniYield Michigan Insured Fund, Inc.       
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
       Par   
  Municipal Bonds    (000)  Value 
Michigan - 140.6%         
Corporate - 22.2%  Delta County, Michigan, Economic Development Corporation,     
  Environmental Improvement Revenue Refunding Bonds (Mead Westvaco-     
  Escanaba), AMT, Series B, 6.45%, 4/15/12 (a)    $ 1,500  $ 1,714,530 
Dickinson County, Michigan, Economic Development Corporation,
  Environmental Improvement Revenue Refunding Bonds (International     
  Paper Company Project), Series A, 5.75%, 6/01/16  3,900  3,401,346 
  Michigan State Strategic Fund, Limited Obligation Revenue     
  Refunding Bonds (Detroit Edison Company Pollution Control Project),     
  AMT, Series A, 5.55%, 9/01/29 (b)    10,250  9,095,543 
  Michigan State Strategic Fund, Limited Obligation Revenue     
  Refunding Bonds (Detroit Edison Company Pollution Control Project),     
  Series AA, 6.95%, 5/01/11 (b)(c)    6,000  6,363,660 
  Monroe County, Michigan, Economic Development Corporation, Limited     
Obligation Revenue Refunding Bonds (Detroit Edison Co. Project),
  Series AA, 6.95%, 9/01/22 (b)(c)    15,000  16,644,150 
Saint Clair County, Michigan, Economic Revenue Refunding Bonds
  (Detroit Edison Co. Project), Series AA, 6.40%, 8/01/24 (d)  17,800  18,192,490 
        55,411,719 
County/City/Special  Adrian, Michigan, City School District, GO, 5%, 5/01/14 (a)(e)  3,600  4,132,800 
District/School District - 30.9%  Birmingham, Michigan, City School District, School Building and Site,     
  GO, 5%, 11/01/33 (e)    1,000  1,005,250 
  Detroit, Michigan, City School District, GO (School Building and Site     
  Improvement), Refunding, Series A, 5%, 5/01/21 (e)  3,000  3,065,490 
  Detroit, Michigan, City School District, GO (School Building and Site     
  Improvement), Series A, 5.375%, 5/01/13 (a)(c)  2,300  2,630,832 
  Detroit, Michigan, City School District, GO (School Building and Site     
  Improvement), Series B, 5%, 5/01/28 (c)    3,100  3,011,154 
  Eaton Rapids, Michigan, Public Schools, School Building and Site, GO,     
  5.25%, 5/01/20 (e)    1,325  1,406,819 
  Eaton Rapids, Michigan, Public Schools, School Building and Site, GO,     
  5.25%, 5/01/21 (e)    1,675  1,764,428 
  Frankenmuth, Michigan, School District, GO, 5.75%, 5/01/10 (a)(c)  1,000  1,051,590 
  Gibraltar, Michigan, School District, GO (School Building and Site),     
  5%, 5/01/14 (a)(c)    2,940  3,375,120 
  Gibraltar, Michigan, School District, GO (School Building and Site),     
  5%, 5/01/28 (b)(c)    710  714,054 
  Grand Blanc, Michigan, Community Schools, GO,     
  5.625%, 5/01/20 (b)(c)    1,100  1,157,442 
  Grand Rapids, Michigan, Building Authority Revenue Bonds, Series A,     
  5.50%, 10/01/12 (a)(d)    1,035  1,179,910 

Portfolio Abbreviations
To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of
the securities have been abbreviated according to the list below.

AMT  Alternative Minimum Tax (subject to)  GO  General Obligation Bonds 
COP  Certificates of Participation  HDA  Housing Development Authority 
    M/F  Multi-Family 

1

BlackRock MuniYield Michigan Insured Fund, Inc.       
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
       Par   
  Municipal Bonds    (000)  Value 
  Gull Lake, Michigan, Community School District, School Building and     
  Site, GO, 5%, 5/01/14 (a)(e)    $ 5,625  $ 6,457,500 
Harper Woods, Michigan, City School District, School Building and
  Site, GO, Refunding, 5%, 5/01/14 (a)(c)    4,345  4,988,060 
Harper Woods, Michigan, City School District, School Building and
  Site, GO, Refunding, 5%, 5/01/34 (b)(c)    430  425,760 
  Hartland, Michigan, Consolidated School District, GO,     
  6%, 5/01/10 (a)(c)    6,825  7,194,096 
Jenison, Michigan, Public Schools, School Building and Site, GO,
  5.50%, 5/01/19 (b)(c)    1,575  1,653,955 
  Lansing, Michigan, Building Authority, GO, Series A, 5.375%,     
  6/01/13 (a)(b)    1,510  1,738,267 
  Montrose Township, Michigan, School District, GO,     
  6.20%, 5/01/17 (b)    1,000  1,186,120 
  Oak Park, Michigan, Street Improvement, GO, 5%, 5/01/30 (b)  500  484,205 
  Orchard View, Michigan, Schools, School Building and Site, GO, 5%,     
  11/01/13 (a)(b)    5,320  6,095,071 
  Pennfield, Michigan, School District, School Building and Site, GO,     
  5%, 5/01/14 (a)(c)    1,370  1,565,020 
Reed, Michigan, City Public Schools, School Building and Site, GO,
  5%, 5/01/14 (a)(e)    1,425  1,635,900 
  South Haven, Michigan, Public Schools, GO, 5%, 5/01/13 (a)(e)  1,350  1,530,819 
  Southfield, Michigan, Library Building Authority, GO,     
  5.50%, 5/01/10 (a)(b)    1,300  1,363,817 
  Southfield, Michigan, Public Schools, School Building and Site, GO,     
  Series A, 5%, 5/01/14 (a)(e)    3,500  4,012,575 
Sparta, Michigan, Area Schools, School Building and Site, GO, 5%,
  5/01/14 (a)(c)    1,325  1,521,100 
Thornapple Kellogg School District, Michigan, GO, Refunding, 5%,
  5/01/32 (b)    2,500  2,489,850 
  Waverly, Michigan, Community School, GO, 5.50%, 5/01/10 (a)(c)  1,100  1,151,843 
  Wayne Charter County, Michigan, Detroit Metropolitan Airport, GO,     
  Airport Hotel, Series A, 5%, 12/01/30 (b)    1,750  1,611,103 
  Wayne County, Michigan, Building Authority, GO (Capital     
  Improvements), Series A, 5.25%, 6/01/16 (b)    1,000  1,003,010 
  West Bloomfield, Michigan, School District, GO, Refunding, 5.50%,     
  5/01/17 (b)(c)    1,710  1,872,792 
  West Bloomfield, Michigan, School District, GO, Refunding, 5.50%,     
  5/01/18 (b)(c)    1,225  1,300,007 
  Zeeland, Michigan, Public Schools, School Building and Site, GO, 5%,     
  5/01/29 (b)    1,600  1,609,136 
        77,384,895 
Education - 6.9%  Eastern Michigan University Revenue Bonds, Series B, 5.60%,     
  6/01/10 (a)(c)    1,500  1,580,100 
Eastern Michigan University Revenue Bonds, Series B, 5.625%,
  6/01/10 (a)(c)    1,310  1,380,308 

2

BlackRock MuniYield Michigan Insured Fund, Inc.       
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
       Par   
  Municipal Bonds    (000)  Value 
  Eastern Michigan University, General Revenue Refunding Bonds, 6%,     
  6/01/10 (a)(d)    $ 590  $ 630,385 
  Eastern Michigan University, General Revenue Refunding Bonds, 6%,     
  6/01/20 (d)    435  451,987 
Grand Valley State University, Michigan, Revenue Bonds, 5.50%,
  2/01/18 (b)(c)    2,070  2,240,278 
Michigan Higher Education Facilities Authority, Limited Obligation
  Revenue Bonds (Hillsdale College Project), 5%, 3/01/35  1,875  1,630,200 
Michigan Higher Education Facilities Authority, Limited Obligation
Revenue Refunding Bonds (College for Creative Studies), 5.85%,
  6/01/12 (a)    1,235  1,394,006 
Michigan Higher Education Facilities Authority, Limited Obligation
Revenue Refunding Bonds (College for Creative Studies), 5.90%,
  6/01/12 (a)    1,145  1,294,136 
Michigan Higher Education Student Loan Authority, Student Loan
  Revenue Bonds, AMT, Series XVII-B, 5.40%, 6/01/18 (d)  2,500  2,245,100 
Michigan Higher Education Student Loan Authority, Student Loan
  Revenue Bonds, AMT, Series XVII-Q, 5%, 3/01/31 (d)  3,000  2,179,740 
  Saginaw Valley State University, Michigan, General Revenue     
  Refunding Bonds, 5%, 7/01/24 (b)(c)    2,100  2,128,476 
        17,154,716 
Health - 22.8%  Dickinson County, Michigan, Healthcare System, Hospital Revenue     
  Refunding Bonds, 5.80%, 11/01/24 (f)    3,100  2,586,888 
Flint, Michigan, Hospital Building Authority, Revenue Refunding
  Bonds (Hurley Medical Center), Series A, 5.375%, 7/01/20 (f)  615  463,470 
Flint, Michigan, Hospital Building Authority, Revenue Refunding
  Bonds (Hurley Medical Center), Series A, 6%, 7/01/20 (f)  1,375  1,101,155 
Kent, Michigan, Hospital Finance Authority, Hospital Revenue
  Refunding Bonds (Butterworth Hospital), Series A, 7.25%,     
  1/15/13 (b)    2,685  2,944,854 
  Kent, Michigan, Hospital Finance Authority Revenue Bonds (Spectrum     
  Health), Series A, 5.50%, 7/15/11 (a)(b)    3,000  3,304,050 
  Michigan State Hospital Finance Authority, Hospital Revenue Bonds     
  (Mid-Michigan Obligation Group), Series A, 5.50%, 4/15/18 (d)  2,530  2,519,323 
  Michigan State Hospital Finance Authority, Hospital Revenue     
  Refunding Bonds (Crittenton Hospital), Series A, 5.625%, 3/01/27  3,050  2,668,323 
  Michigan State Hospital Finance Authority, Hospital Revenue     
  Refunding Bonds (Oakwood Obligated Group), Series A, 5%,     
  7/15/25    4,100  3,409,683 
  Michigan State Hospital Finance Authority, Hospital Revenue     
  Refunding Bonds (Oakwood Obligated Group), Series A, 5%,     
  7/15/37    630  463,012 
  Michigan State Hospital Finance Authority, Hospital Revenue     
  Refunding Bonds (Sparrow Obligated Group), 5%, 11/15/31  3,100  2,336,594 
  Michigan State Hospital Finance Authority Revenue Bonds (McLaren     
  Health Care Corporation), Series C, 5%, 8/01/35  1,000  811,100 
Michigan State Hospital Finance Authority Revenue Bonds (Mid-
  Michigan Obligor Group), Series A, 5%, 4/15/36  1,750  1,361,290 

3

BlackRock MuniYield Michigan Insured Fund, Inc.       
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
       Par   
  Municipal Bonds    (000)  Value 
Michigan State Hospital Finance Authority Revenue Bonds (Trinity
  Health Credit Group), Series A, 6.25%, 12/01/28  $ 930  $ 976,426 
Michigan State Hospital Finance Authority Revenue Bonds (Trinity
  Health Credit Group), Series A, 6.50%, 12/01/33  1,000  1,060,670 
  Michigan State Hospital Finance Authority, Revenue Refunding Bonds     
  (Ascension Health Credit), Series A, 6.25%, 11/15/09 (a)(b)  2,500  2,603,000 
  Michigan State Hospital Finance Authority, Revenue Refunding Bonds     
  (Henry Ford Health System), Series A, 5.25%, 11/15/46  2,500  1,870,650 
  Michigan State Hospital Finance Authority, Revenue Refunding Bonds     
  (McLaren Health Care Corporation), 5.75%, 5/15/38  4,500  4,105,170 
  Michigan State Hospital Finance Authority, Revenue Refunding Bonds     
  (Saint John Hospital), Series A, 6%, 5/15/13 (d)(g)  2,475  2,513,239 
  Michigan State Hospital Finance Authority, Revenue Refunding Bonds     
  (Trinity Health Credit Group), Series A, 6%, 12/01/20  2,200  2,261,182 
  Michigan State Hospital Finance Authority, Revenue Refunding Bonds     
  (Trinity Health Credit Group), Series A, 6%, 12/01/27 (d)  6,400  6,498,880 
  Michigan State Hospital Finance Authority, Revenue Refunding Bonds     
  (Trinity Health Credit Group), Series C, 5.375%, 12/01/23  1,000  1,011,800 
  Michigan State Hospital Finance Authority, Revenue Refunding Bonds     
  (Trinity Health Credit Group), Series C, 5.375%, 12/01/30  3,755  3,709,940 
  Michigan State Hospital Finance Authority, Revenue Refunding Bonds     
  (Trinity Health Credit Group), Series D, 5%, 8/15/34  3,100  2,853,674 
  Royal Oak, Michigan, Hospital Finance Authority, Hospital Revenue     
  Refunding Bonds (William Beaumont Hospital), 8.25%, 9/01/39  1,000  1,112,760 
  Saginaw, Michigan, Hospital Finance Authority, Revenue Refunding     
  Bonds (Covenant Medical Center), Series E, 5.625%, 7/01/13 (b)  2,500  2,523,700 
        57,070,833 
Housing - 1.8%  Michigan State, HDA, Limited Obligation M/F Housing Revenue Bonds     
  (Deaconess Towers Apartments), AMT, 5.25%, 2/20/48 (h)  1,000  927,390 
  Michigan State, HDA, Limited Obligation M/F Housing Revenue Bonds     
  (Williams Pavilion Apartments), AMT, 4.75%, 4/20/37 (h)  3,990  3,443,091 
  Michigan State, HDA, Rental Housing Revenue Bonds, AMT, Series A,     
  5.30%, 10/01/37 (b)    200  187,198 
        4,557,679 
State - 16.7%  Michigan Municipal Bond Authority, Local Government Loan Program,     
  Revenue Refunding Bonds (Charter County of Wayne), Series B, 5%,     
  11/01/14 (i)    2,400  2,617,776 
  Michigan Municipal Bond Authority, Local Government Loan Program,     
  Revenue Refunding Bonds (Charter County of Wayne), Series B, 5%,     
  11/01/15 (i)    1,500  1,634,400 
  Michigan Municipal Bond Authority, Local Government Loan Program,     
  Revenue Refunding Bonds (Charter County of Wayne), Series B, 5%,     
  11/01/16 (i)    500  544,295 
  Michigan Municipal Bond Authority, Local Government Loan Program,     
Revenue Refunding Bonds (Charter County of Wayne), Series B,
  5.375%, 11/01/24 (i)    125  130,142 
 
 
 
4

BlackRock MuniYield Michigan Insured Fund, Inc.       
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
       Par   
  Municipal Bonds    (000)  Value 
  Michigan Municipal Bond Authority Revenue Bonds (Local     
  Government Loan Program), Group A, 5.50%, 11/01/20 (d)  $ 1,065  $ 1,075,842 
  Michigan State Building Authority, Revenue Refunding Bonds     
  (Facilities Program), Series I, 5.50%, 10/15/10 (e)  7,250  7,648,750 
  Michigan State Building Authority, Revenue Refunding Bonds     
  (Facilities Program), Series I, 5.50%, 10/15/11 (e)  15,030  16,295,075 
  Michigan State Building Authority, Revenue Refunding Bonds     
  (Facilities Program), Series I, 5.50%, 10/15/18 (b)  2,500  2,582,250 
  Michigan State Building Authority, Revenue Refunding Bonds     
  (Facilities Program), Series I, 6.25%, 10/15/38    3,900  4,208,217 
  Michigan State Building Authority, Revenue Refunding Bonds     
  (Facilities Program), Series II, 5%, 10/15/29 (b)  3,500  3,327,800 
  Michigan State, COP, 5.52%, 6/01/22 (d)(g)(j)    3,000  1,753,050 
        41,817,597 
Transportation - 16.7%  Wayne Charter County, Michigan, Airport Revenue Bonds (Detroit     
  Metropolitan Wayne County), AMT, Series A, 5.375%, 12/01/15 (b)  10,660  10,329,433 
  Wayne County, Michigan, Airport Authority Revenue Bonds (Detroit     
  Metropolitan Wayne County Airport), AMT, 5.25%, 12/01/25 (b)  7,525  6,309,186 
  Wayne County, Michigan, Airport Authority Revenue Bonds (Detroit     
  Metropolitan Wayne County Airport), AMT, 5.25%, 12/01/26 (b)  6,300  5,205,375 
  Wayne County, Michigan, Airport Authority Revenue Bonds (Detroit     
  Metropolitan Wayne County Airport), AMT, 5%, 12/01/34 (b)  9,160  6,659,686 
Wayne County, Michigan, Airport Authority, Revenue Refunding
  Bonds, AMT, 5.75%, 12/01/25 (i)    4,000  4,046,760 
Wayne County, Michigan, Airport Authority, Revenue Refunding
  Bonds, AMT, 5.75%, 12/01/26 (i)    1,000  1,006,530 
Wayne County, Michigan, Airport Authority, Revenue Refunding
  Bonds, AMT, 5.375%, 12/01/32 (i)    8,700  8,132,238 
        41,689,208 
Utilities - 22.6%  Detroit, Michigan, Water Supply System Revenue Bonds, Second Lien,     
  Series B, 5%, 7/01/13 (a)(b)    1,550  1,752,337 
  Detroit, Michigan, Water Supply System Revenue Bonds, Second Lien,     
  Series B, 5%, 7/01/34 (b)    2,420  2,044,005 
  Detroit, Michigan, Water Supply System Revenue Bonds, Second Lien,     
  Series B, 7%, 7/01/36 (e)    3,000  3,314,610 
  Detroit, Michigan, Water Supply System Revenue Bonds, Senior Lien,     
  Series A, 5.875%, 1/01/10 (a)(c)    1,250  1,305,812 
  Detroit, Michigan, Water Supply System Revenue Bonds, Senior Lien,     
  Series A, 5.75%, 7/01/11 (a)(c)    7,250  7,935,922 
  Detroit, Michigan, Water Supply System Revenue Bonds, Senior Lien,     
  Series A, 5%, 7/01/13 (a)(b)    3,750  4,239,525 
  Detroit, Michigan, Water Supply System Revenue Bonds, Senior Lien,     
  Series A, 5%, 7/01/25 (e)    4,000  3,779,120 
  Detroit, Michigan, Water Supply System Revenue Bonds, Senior Lien,     
  Series A, 5%, 7/01/34 (b)    6,900  5,827,947 
Detroit, Michigan, Water Supply System Revenue Bonds, Series B,
  5.25%, 7/01/13 (a)(b)    11,790  13,447,085 
 
 
5

BlackRock MuniYield Michigan Insured Fund, Inc.       
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
             Par   
  Municipal Bonds         (000)       Value 
  Detroit, Michigan, Water Supply System, Revenue Refunding Bonds,     
  6.25%, 7/01/12 (c)(g)    $ 1,180  $ 1,266,565 
  Detroit, Michigan, Water Supply System, Revenue Refunding Bonds,     
  Second Lien, Series C, 5%, 7/01/29 (e)    10,570  9,548,092 
  Muskegon Heights, Michigan, Water System Revenue Bonds,     
  Series A, 5.625%, 11/01/10 (a)(b)    1,830  1,963,810 
        56,424,830 
  Total Municipal Bonds in Michigan      351,511,477 
Puerto Rico - 4.4%         
Housing - 0.8%  Puerto Rico Housing Financing Authority, Capital Funding Program,     
  Subordinate Revenue Refunding Bonds, 5.125%, 12/01/27  2,000  2,015,740 
State - 1.9%  Puerto Rico Public Buildings Authority, Government Facilities     
  Revenue Refunding Bonds, Series M-3, 6%, 7/01/27 (b)(k)  2,100  2,074,653 
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
  Refunding Bonds, Series A, 5.192%, 8/01/43 (b)(j)  12,500  1,200,750 
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
  Refunding Bonds, Series A, 4.992%, 8/01/46 (b)(j)  20,000  1,519,200 
        4,794,603 
Transportation - 1.7%  Puerto Rico Commonwealth Highway and Transportation Authority,     
  Highway Revenue Refunding Bonds, Series CC, 5.50%,     
  7/01/31 (i)    4,000  4,161,880 
  Total Municipal Bonds in Puerto Rico      10,972,223 
  Total Municipal Bonds - 145.0%      362,483,700 
  Municipal Bonds Transferred to       
  Tender Option Bond Trusts (l)       
Michigan - 12.5%         
County/City/Special  Lakewood, Michigan, Public Schools, School Building     
District/School/District - 4.6%  and Site, GO, 5%, 5/01/37 (e)    6,775  6,806,052 
Portage, Michigan, Public Schools, School Building and Site, GO,
  5%, 5/01/31 (e)    4,650  4,710,543 
        11,516,595 
Education - 7.9%  Saginaw Valley State University, Michigan, Revenue     
  Refunding Bonds, 5%, 7/01/31 (e)    7,500  7,504,950 
  Wayne State University, Michigan, University Revenue Refunding Bonds,   
  5%, 11/15/35 (e)    12,210  12,274,102 
        19,779,052 
  Total Municipal Bonds Transferred to       
  Tender Option Bond Trusts - 12.5%      31,295,647 
  Total Long-Term Investments       
  (Cost - $399,028,306) - 157.5%      393,779,347 
  Short-Term Securities    Shares   
Money Market Fund -  CMA Michigan Municipal Money Fund, 0.15% (m)(n)  8,429,077  8,429,077 
3.4%         
  Total Short-Term Securities       
  (Cost - $8,429,077) - 3.4%      8,429,077 

6

BlackRock MuniYield Michigan Insured Fund, Inc.       
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Value 
                                                                                 Total Investments (Cost - $407,457,383*) - 160.9%  $  402,208,424 
                                                                                 Other Assets Less Liabilities - 3.5%      8,742,330 
Liability for Trust Certificates, Including Interest Expense and
                                                                                 Fees Payable - (6.5)%      (16,245,708) 
                                                                                 Preferred Shares, at Redemption Value - (57.9)%    (144,665,175) 
                                                                                 Net Assets Applicable to Common Shares - 100.0%  $  250,039,871 

* The cost and unrealized appreciation (depreciation) of investments as of April 30, 2009, as computed for
federal income tax purposes, were as follows:

Aggregate cost  $  389,467,263 
Gross unrealized appreciation  $  15,153,736 
Gross unrealized depreciation    (18,602,575) 
Net unrealized depreciation  $  (3,448,839) 

(a) US government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in full at
the date indicated, typically at a premium to par.

(b) NPFGC Insured.
(c) FGIC Insured.
(d) AMBAC Insured.
(e) FSA Insured.
(f) ACA Insured.
(g) Security is collateralized by Municipal or US Treasury Obligations.
(h) GNMA Collateralized.
(i) Assured Guaranty Insured.
(j) Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.
(k) Commonwealth Guaranteed.
(l) Securities represent bonds transferred to a tender option bond trust in exchange for which the Fund acquired
residual interest certificates. These securities serve as collateral in a financing transaction.
(m) Investments in companies considered to be an affiliate of the Fund, for purposes of Section 2(a)(3) of the Investment
Company Act of 1940, were as follows:

  Net     
Affiliate  Activity    Income 
CMA Michigan Municipal Money Fund  3,861,544  $             65,311 

(n) Represents the current yield as of report date.

7

BlackRock MuniYield Michigan Insured Fund, Inc.
Schedule of Investments April 30, 2009 (Unaudited)

Ÿ Effective August 1, 2008, the Fund adopted Financial Accounting Standards Board Statement of Financial Accounting
Standards No. 157, "Fair Value Measurements" ("FAS 157"). FAS 157 clarifies the definition of fair value, establishes a
framework for measuring fair values and requires additional disclosures about the use of fair value measurements.
Various inputs are used in determining the fair value of investments, which are as follows:

Ÿ Level 1 - price quotations in active markets/exchanges for identical securities
Ÿ Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets
or liabilities in markets that are active, quoted prices for identical or similar assets in markets
that are not active, inputs other than quoted prices that are observable for the assets or
liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities,
credit risks and default rates) or other market-corroborated inputs)

Ÿ Level 3 - unobservable inputs based on the best information available in the circumstance, to
the extent observable inputs are not available (including the Fund's own assumption used in
determining the fair value of investments)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk
associated with investing in those securities. For information about the Fund's policy regarding valuation
of investments and other significant accounting policies, please refer to the Fund's most recent financial
statements as contained in its semi-annual report.

The following table summarizes the inputs used as of April 30, 2009 in determining the fair valuation of
the Fund's investments:

Valuation    Investments in 
Inputs    Securities 
    Assets 
Level 1  $  8,429,077 
Level 2    393,779,347 
Level 3    - 
Total  $  402,208,424 

8

Item 2 – Controls and Procedures

2(a) – The registrant’s principal executive and principal financial officers or persons performing
similar functions have concluded that the registrant’s disclosure controls and procedures (as
defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the
“1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the
evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act
and Rule 13(a)-15(b) under the Securities Exchange Act of 1934, as amended.

2(b) – There were no changes in the registrant’s internal control over financial reporting (as
defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal
quarter that have materially affected, or are reasonably likely to materially affect, the
registrant’s internal control over financial reporting.

Item 3 – Exhibits

Certifications – Attached hereto

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.

BlackRock MuniYield Michigan Insured Fund, Inc.

By: /s/ Donald C. Burke
Donald C. Burke
Chief Executive Officer of
BlackRock MuniYield Michigan Insured Fund, Inc.

Date: June 19, 2009

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, this report has been signed below by the following persons on behalf
of the registrant and in the capacities and on the dates indicated.

By: /s/ Donald C. Burke
Donald C. Burke
Chief Executive Officer (principal executive officer) of
BlackRock MuniYield Michigan Insured Fund, Inc.

Date: June 19, 2009

By: /s/ Neal J. Andrews
Neal J. Andrews
Chief Financial Officer (principal financial officer) of
BlackRock MuniYield Michigan Insured Fund, Inc.

Date: June 19, 2009