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View Full Version : is this in line or high? Allstate charging $1100 /yr for 1 mil policy more details...


1styear
05-08-2009, 01:46 AM
Do I need more? Is less ok? I only cut residentials no want for commercial jobs.


The policy is 1mil personal injury, 1 mil property and 7K for trailer upset/theft w/no deductable

Is 1100 a year in line?

I think that I need $10k trailer & equipment theft and less personal and property liability

I am just worried about windows and sliding doors windshields and paint jobs. There are not people around when I mow, Ibut know they can sneak up on you so I want some level of coverage for injury. At 1100/year I feel like I could just carry theft/upset and personal injury and self insure for any damage that I do with broken windows/damage to whatever. Allstate has the injury and property tied together (that's what agent said)

I wear the echo safety harness with the warning stand back 200'
Are there insurance companies that give discounts for service with no incidents reported or anything like that.

look, I know $1100 is cheap for what I am getting, but I just went with my agent right of the bat to be covered and I am really wanting opinions on what is sufficient for this scenario. If I could save $400-$500 a year that is a lot of dinners my wife doesn't have to cook. She might even get some flowers once in a while

Stillwater
05-08-2009, 01:56 AM
this does not sound to off base if the policy does include everything you note, allot has to do with how long you have been in business and the state you are in. principle garage location and area of operation. In other words the same exact policy could be priced differently 50 miles from you. Ignore policy advice from posters on lawnsite and discuss directly with your agent and lawyer of what your needs are for this important subject their is far to much BS hear.

whoopassonthebluegrass
05-08-2009, 02:03 AM
Holy crap! My 1 mil policy runs me $300/year through Farm Bureau.

sweetz
05-08-2009, 02:04 AM
this does not sound to off base if the policy does include everything you note, allot has to do with how long you have been in business and the state you are in. principle garage location and area of operation. In other words the same exact policy could be priced differently 50 miles from you. Ignore policy advice from posters on lawnsite and discuss directly with your agent and lawyer of what your needs are for this important subject their is far to much BS hear.

I totally agree with this post!

Stillwater
05-08-2009, 02:31 AM
Holy crap! My 1 mil policy runs me $300/year through Farm Bureau.

is your policy as comprehensive as what he decribed? his policy is far greater than just liability.

1styear
05-08-2009, 02:51 AM
This agent really isn't "my agent" He does have all of our insurance but he's in another state. My wife's father in law has used the guy for 20 years so I am sure he knows what he's doing for normal P&C health & life but he was up front with me saying that he didn't usually handle this kind of stuff. He didn't really have a recommendation I just told him what I wanted and he wrote it up. I think he's bombarded me with coverage because he would rather me be way overinsured than not enough.

sounds like my agent is just trying to take care of me. I would like to know what kind of coverage would be out there for $300 a year.

What would that include?

What could I get for say 600 700?

Stillwater
05-08-2009, 03:10 AM
600 to 700 could possibly get you a 1mil property damage liability binder, but no coverage for theft of equipment or accidents, and possibly no personal injury coverage ask your agent. Also look into forming a LLc.

1styear
05-08-2009, 03:21 AM
LLC.. would that help reduce my insurance needs? If I am not going to be held personally liable then I don't need as much insurance correct?

Heaven forbid someone was seriously hurt. From what I understand, please correct this if it's wrong I will research later: They wouldn't be able to take my home and personal autos as LLC but could seize all my mowing assests listed under company license (truck & equipment) if a lawsuit was won in excess of my insurance.

Stillwater
05-08-2009, 03:31 AM
Thats about it in a roundabout way

Richard Martin
05-08-2009, 06:53 AM
I would consult with a local agent to begin with. I'm surprised you would use an out of state agent. $1100 does sound a little high. I'm paying $700 a year through State Farm for 1 mill liability and $20,000 equipment coverage.

kaferhaus
05-08-2009, 08:22 AM
We carry pretty much the same coverage except the equipment coverage which is much higher at 100K. We have a $500 deductible. Our premium is $1250.00 a year and we've been in business over 20yrs. Never filed a claim.

I shop the rates every year among the various larger carriers and end up changing companies every couple years or so.

Unrelated, but down here in hurricane country, my homeowners insurance is almost 6K a year.... so the business insurance is "cheap" by comparison.

Stillwater
05-08-2009, 09:14 AM
I would consult with a local agent to begin with. I'm surprised you would use an out of state agent. $1100 does sound a little high. I'm paying $700 a year through State Farm for 1 mill liability and $20,000 equipment coverage.

sound high? it is cheaper than yours....

his total coverage is 2 mil 7 thou for 1100 no deduct.
yours is 1 mil 20 thou for 700

Richard Martin
05-08-2009, 10:20 AM
sound high? it is cheaper than yours....

his total coverage is 2 mil 7 thou for 1100 no deduct.
yours is 1 mil 20 thou for 700

We all know that it's not the liability that's expensive. It's the comprehensive full replacement value equipment coverage. I gave him the same advice that you did. Get some quotes from local agents.

Stillwater
05-08-2009, 10:47 AM
We all know that it's not the liability that's expensive. It's the comprehensive full replacement value equipment coverage. I gave him the same advice that you did. Get some quotes from local agents.


I agree totaly..... get off lawnsite and get on the phone...

tacoma200
05-08-2009, 01:33 PM
My Farm Bureau is fairly high.

1styear
05-09-2009, 01:40 AM
I got my first quote from local agent. I haven't talked to him yet, but emailed them and they sent me a quote via pdf. I am not really sure what I am looking at here but will talk to him monday. I guess this is what you get for $300 (no I didn't as for $300 worth) I told him to quote a basic small lawncare business 1 mil policy.


LIMITS OF INSURANCE
PREMISES & OPERATIONS
General Aggregate - $ 1,000,000
Each Occurrence - $ 1,000,000
PRODUCTS & COMPLETED OPERATIONS
Aggregate - $ 1,000,000
Each Occurrence - $ 1,000,000
PERSONAL INJURY AND ADVERTISING INJURY - $ 1,000,000
DAMAGE TO PREMISES RENTED TO YOU - $ 300,000 Any One Premises
MEDICAL PAYMENTS - $ 10,000 Any One Person
HIRED AUTO AND NON-OWNED AUTO - $ 1,000,000 Each Occurrence

Twice the "General Aggregate Limit" shown is provided
at no additional charge for each 12 month period.

Classification: LAWN CARE SERVICES; VEHICLE STORAGE OR REPAIR
Class Code: 97050
Premium Basis: Payroll Exposure: 13,300
PREMISES OPERATIONS | PRODUCTS COMPLETED OPS |
Base Rate . . . . . . . 21.240 | 0.210 |
Company . . . . . . . . x 1.000 | x 1.000 |
Increased Limit (11). . x 1.000 | x 1.000 |
Merit Rating. . . . . . x 1.000 | x 1.000 |
Liability Plus. . . . . x 1.070 | |
Final Rate. . . . . . . = 22.727 | = 0.210 |
13,300/1,000. . . . . . x 13.300 | x 13.300 |
-------------------------|-------------------------|
Premium . . . . . . . . $ 302.00 | $ 3.00 |
TERRORISM - CERTIFIED ACTS $3.00
General Liability Premium For This Location $308.00
Total General Liability Premium $308.00
--------------------------------------------------------------------------------
TOTAL PROPOSAL PREMIUM $308.00
--------------------------------------------------------------------------------
PAID IN FULL DISCOUNT -30.00
TOTAL PREMIUM IF PAID IN FULL $278.00

lilweeds
05-09-2009, 02:38 PM
www.farmfamily.com

or Hortica

Best rates for landscapers

bohiaa
05-09-2009, 04:55 PM
it doesn't sound high, it sounds like they have threw in a ton of bells and whilstles.

and NO you do need more on the trailer.

If it came off. hit and killed some people. then how much do you think you'de need

sweetz
05-10-2009, 01:07 AM
and NO you do need more on the trailer.

If it came off. hit and killed some people. then how much do you think you'de need

He is talking trailer theft, not car/trailer ins, which is what would cover you in that scenario (at least down here). See, that's why you need to get advice on that kind of stuff from people in your area. Laws/rules/regulations are different everywhere. Some things are even different from county to county or city to city, like prices. Just my opinion.

cpel2004
05-10-2009, 01:22 AM
As we well know there are different componets that make up your premium, however at face value your qoute is within the range, however with that being said I just recieved a qoute from old dominion which was bought out by another company. I got the same coverage with pool service coverage and I would have to check to see if theft is included for 750. Im almost certain theft was included I just dont know how much.

My friend owns an insurance company and his cheapest qoute was 1050 and I live in what feels like the crime captial of the world. I guess its up to you but your qoute is within range. Ask if he could do better, it doesnt hurt.