View Full Version : Being young is not cool.
It really sucks for young people who try to start there own business. It really sucks when you try to get insurance. I phone 5 companies last year for qoutes. They all said that wouldn't even think about insuring me. I finally get someone to insure me. $349.00 per month for truck. I just got my renewal and they are raising it to $430.00 per month. How am I suppose to make any money!!!! Oh well. I just have to raise my prices a little.
02-15-2001, 07:33 PM
Welcome to the real world...Get used to it because that's just part of owning your own business...Good Luck...Derrick
02-15-2001, 07:41 PM
What kind of truck is that pcs?
02-15-2001, 10:50 PM
I here ya. I'm 21 years old and was faced with the same situation that your in when I first started shoping for auto insurance.
Course my auto insurance isn't really all that bad. I own two truck...86 Ford 1 Ton Dually & and 85 Dodge 1/2 ton pickup....both in excellent condition both body and mechanically wise.
Currently I've got full coverage, with the exception of Collision, on both vehicals. The Ford is 102 dollars per month and the Dodge is only 58.00 dollars per month, both with a 250 deductable so I really can't complain.
Try finding an old truck....15 years plus. Mechanically speaking, most vehicals between 15 to 20 years old are very mechanically simple. You could lower you insurance considerably.
02-15-2001, 11:20 PM
Whats up with that??
I am 18, we will have 6 trucks this season (3 99-2000 chevy k2500's , 2 93-95 gmc 3500HD's and an 89 chevy c1500) and on the new 2500's its only $575 per year for full covrage on just about any driver we hire. This is with Erie Ins.
Ill trade you a good insurance rate for
your young yrs. I WISH
02-16-2001, 12:19 AM
Uh, what's your driving record like pcs?
02-16-2001, 02:48 AM
A young man here in town doing lawn care told me he finally had to have all his business in his dad's name to get liability insurance. All the companies said had to be minimum of 18.
Randy, I have one seat belt ticket. But I talk to another insurance agent a he said all rate are built in with one speeding ticket or seat belt ticket. Because of that ticket my rate should have only gone up 5 percent.
02-16-2001, 11:26 AM
Those prices are too damn high. I am still 18 ,Ex. $128.67 mo for a 89 dakota that is getting a larger engine swapped and its a little v-8,only a 383 mopar block, but i am buying a older ford a 78 1 ton off of a guy down the road and it has a 460 in it and the ins. is only gonna be $68.45 a month , Go figure
This year i am dumping state farm
02-19-2001, 07:57 PM
The ONLY way to make your insurance go down (as told to me buy a previous insurance agent) is to..........
GET MARRIED. My rates dropped dramatically.
Also, in NJ if you join the NJBIA for $150 per year you qualify for NJ Manufacturers insurance (very good and cheap compared to others).
02-19-2001, 11:39 PM
Jeff- what was your price drop after joining the NJBIA?
02-20-2001, 06:40 AM
I went down almost 1/3....but that was in conjunction with getting married. My wife had manufacturers so I jumped in and then joined and got commercial auto. I was with State Farm and THEY are the ones that told me that i would be better off with Manufacturers (better coverage at better prices).. They also do not surcharge for occasional tickets or minor accidents---but they will drop you if it gets out of hand. Also--you get a dividend check at the end of the year (usually a couple hundre on the 3 autos I have on it). Once you are a member and get the insurance, it also helps your employees get the insurance which is a good perk.
You can email me if you need more info Ocutter.
02-20-2001, 10:02 AM
Make sure this is Commercial Business Insurance that not only covers the vehicles, but all the other goodies that add on to the Bill.
Need at lest $500K, with a Million Umbrella. Make sure it covers you for the type work you do & covers Completed operations.
Figure this you only got a Tiny $100K liability, you get in wreck, it's your fault & a $35,000 car gets wasted & the passenger doesn't get hurt but as he gets out of Vehicle & walks to the top of ditch, he has Massive Heart Attach.
He then spends 31 days in the Hospital, during this time he has to have a Pacemaker. Then when he gets out of Hospital he has to have Daily Therapy, Mon. thru Friday for 9 months. Now think how far that Nickel & Dime $100K goes on a deal like that? LOL, not enough to buy the Onions? Now think if there were 3 more people in car & they got hurt.
Well I don't even have a Company Vehicle, but I own a business & I'm percieved as being rich. Now here in JawJa if I had that Big Target Alert (Inc.) after my business name & I only had a tiny $100K of insurance & nothing else. Well I would not be in my Nice Paid for Home banging on this Keyboard would I? Don't think here in JawJa the Inc. does much for you, it doesn't protect you from law suits. They just Keep suing you till they get what they want.
Now I'm only a person in business with no company vehicles. Well I have the 18 year old Daughter from Hades. When I told the insurance company that I wanted the extra $500K liability, they said I didn't really need it. Well the difference between the $100K & $500K for 4 Vehicles & I had to up it on my Home owners insurance too! Was how much extra? A big old $67.50 a year or every 6 months, LOL I can't remember the length of time but I remember the amount. Less than 45 days later, my daughter had the wreck that I described above? Call me Paranoid, I call myself a person that still owns everything that I had before the wreck? There was only the guy in the car, but all that did happen to me & him both, not 3 more. I just used three more because there very easily could have been 3 more. Get the Picture!
The first $100K is what cost so much & the rest added on after that is very reasonable. I think when I added on my Million Umbrella it cost like $400 more a year & it's worth far more than that for piece of mind. This is when I had my Lawn Service Business.
Some Insurance companies will list your job catagory wrong & it cost a lot more. I was listed under Lawn Maintenance & the Workers Comp was Park Noc 9102 or something close to that.
If you get listed as Landscaper only it's a lot more money. It seems that being listed as Lawn Maintenance or Lawn Service it's fairly Cheaper & it covers a Broad range of services. It coverd us for Completed operations, doing underground work up to 3 feet I think, we even added on pressure washing to it later & it didn't go up either?
If you do not have much you don't need insurance?
Some Insurance companies will on perpously list you wrong to get you a better price, making you think that they got the best deal? Well they are obligated to cover you if Shinola happens & it always does soooner or Laater. But only that one time & then they Cancel your insurance. Then this is where the Tear Jerker begins, try to get a good price on Insurance after a Compay has Canceled you, even if it was their fault they listed you wrong you wind up paying for their mistakes. They always cover them selves & you always suffer in the long run.
Just my thoughts, but some of the quotes I hear on this post sound to Cheap to be Commercial Business Coverage? I would make sure that they understand what all you are doing. Pay a little extra now & save $1,000's in the long run maybe even your home? I don't care if they say not to worry about it & they do have you covered, if you not covered right & it happens they will Cancel you & then try to get decent coverage$$$$$
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