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View Full Version : Getting insurance (kinda long)


Dragonscapes
02-20-2004, 10:10 AM
Hi I'm kinda new to the board I've been browsing it since I found it last year lots of interesting information. However during the previous year I got duped by my cousin to "purchase" his lawn care company(this thankfully still hasn't happened). I went full swing into it booked about 80 new customers in early spring and had several 1 time jobs lined up for the summer. I had booked about $30,000 (canadian) of new business for the company. I was quite extatic as prepayments began to come in from customers many had been with the company for more than 15 years. The company is a franchise however it always remained small enough that most people didn't think it was. after the first 40,000 came in my cousing borrowed about 20000 of it to pay some bills promising to pay it back by the time spring services started for his other company. I went about business faithfully for about half of the service season. (it took about that long to get him to move several personal bill out of the company account) I began to get frusterated with him and wanted the money he borrowed to continue work. I eventually got a personal loan to continue work until the final 2 services when the company ran out of money completly. He's not a very honest businessman he always told customers 1 thing and did another. He only owned the company for 2 years prior to this. Well after directing several angry customers to the owner to get their money back(probably will never happen). I've made it to the point where I wish to open my own separate company no franchise. Well since my possibility's of getting any more loans are now nil. I never got a cent from the company I've gone looking for insurance. The prices I've been quoted are insane and quite unreasonable. I've tried several insurance brokers and private firms. I still have a few key problems 1. I need to get a truck that I can use to do service with 2. I need to get a tank system. 3. I need to get insurance. As far as customers are concerned that won't be a problem many of the old customers from my cousins company are willing to book with me including some commercial sites. the main problem is the insurance as they are asking for about $10,000 for a single year which would eat up most if not all start up funds. I was hoping to possibly get some input on average insurance prices that you are paying.

Grassmechanic
02-20-2004, 12:02 PM
less than $1500/year.

Rossislawn
02-20-2004, 12:33 PM
500 a year but I don't spray. I only spread granular and spot spray weeds.

jajwrigh
02-20-2004, 06:11 PM
Thats what I am going to do for starters I after I complete my testing...the granular approach and spot weeds on driveways and sidewalks.

sodzilla
02-20-2004, 08:36 PM
$540 a year, includes pesticide coverage.

Runner
02-21-2004, 04:42 PM
GrassMechanic,
Is this for Applicaions, too? Can you please I.M me, and tell me who I can go through for a price of this sort?

Tscape
02-21-2004, 08:41 PM
GrassMechanic,
I would appreciate that info too, if you would.

Dragonscapes,
I have a truck for sale that might interest you. Check Used Equip Forum. You will have to move pretty quick though. Trades considered. I am near Detroit.

Dragonscapes
02-22-2004, 10:36 AM
wow those are low prices even after converted to Canadian. Do any of you know if your insurance companies can insure company's in canada?

$4500 US is a little out of my price range I can pick up a 1995 4x4 Diesel Chev up here for about $1500 Canadian and a new/slightly used spray system for about $2500. but thanks for the heads up don't know if the chev might sell before I can get to it.

Tscape
02-22-2004, 04:12 PM
It is down to $3500 US, but that is firm. If you are anywhere near Detroit I would suggest coming to look at it. I am not trying to sell you necessarily, but this is a deal I would have liked to run across when I started out.

Lawn Tek
02-22-2004, 06:23 PM
Sodzilla , whos that with ?