Insurance

[regnort]

I have a question on insurance for you guys. I currently carry $500,000 commercial liability and am shopping my coverage I was amazed to find that $1,000,000 only a small amount more per year. My question is what kind of limits do most of you carry? I was asked to bid a prop that required $20 mil. last year and declined because I would have had to add more crews and employees than I wanted to take on at the time.

Thanks in advance
Reg

[DennisF]

I carry 1 million property damage and 2 million personal liability. Cost is $600 yearly. I am a solo operation so the rates are lower. I do mostly residential properties with some small commercial work.

[Team Gopher]

Did you see this post from Sildoc (http://server2.lawnsite.com/showthread.php?s=&threadid=53801)?

"Heck I put in a bid on a municipality(sp) and they wanted min of 10 mill. I thought it was a typo. Asked and they said it would weed out the little guys.
Yep never the less weeded me out. Check out with insurance on what 10 mill would have cost me. 600 more a year. Man did I wish I had checked that before I threw in the towel. I would have added it to there bill and been 9mill more coverage for every thing else. In other words check before you dive.
Other than that I think a mill is enough unless you are caring for 5+ million dollar props. good luck."