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View Full Version : up front insurance


rdh
03-06-2001, 08:25 PM
i have noticed some here pay over $1000.00 for insurance.
do you have to pay that in one payment or is there a # of
payments to do this .
i plan on cutting soon i have not got all my trailer money saved up and if this is a one lump deal .i may have to skip the trailer and work out of my truck.
im talking about insurance for mowing ,like a flying rock
or worse.

gene gls
03-06-2001, 08:42 PM
My payments are monthly.
Gene

SDF250
03-06-2001, 08:47 PM
rdh

10 pay 2 up front the norm

some co. can do a 12 pay program

if done over the phone 1st payment 15 to 30 days out

if you pay "500" a year personal truck ins.
its worth getting comm. ins. for the truck also cause it will most likely drop to 350 - 400 and lower the rate on the biz insurance. biz itself "700" truck and biz "500"

TJLC
03-06-2001, 08:59 PM
If I remember correctly, when I first got commerical ins. I put a certain percentage down and then the balance in monthly installments.

Just Cut
03-07-2001, 12:24 AM
25% down of the total premium and quarterly payments is the schedule that I am on.

1MajorTom
03-07-2001, 12:31 AM
We pay in one lump sum for the year. We could break it down into payments, but I try to keep our number of monthly payments to a minimum. Pay it all at once and be done with it is my philosophy.

Runner
03-07-2001, 02:17 AM
That's not to mention that it is cheaper that way because you are not paying the "service fee" every payment. Many companies will give a discount on top of this for paying all ahead.

Island Lawn
03-07-2001, 04:12 AM
I signed up for insurance after some researching and shopping around, and getting turned away at some places because they dont do lawn sevices.

I have Hartford 1 mil general liab w/ a contractors stretch for my equip (inc. cpt)
$760 year
I set up to pay quarterly (but may change to monthly later)

All done w/no $ down.

thefarmer4
03-07-2001, 09:22 AM
My insurance is only $325 for the year. I don't know why its so low compared to some of You.

I have $1,000,000 in Liability and $5,000 for theft and damge for equip.

We don't apply pesticides, maybe thats were the difference is.

kutnkru
03-07-2001, 12:33 PM
Just as Jodi does, pay it all in one lump sum. We just set it aside in a savings account as its collected and then in the spring we transfer the funds and cut them a check.

Hope this helps.
Kris

joshua
03-07-2001, 01:44 PM
personly i would say get a loan, so you can have the trailer and insurance, you can pay it off in no time and it will build up your credit for bigger new machines if you don't have the cash in the future.