Everyones favorite topic: Insurance

[Nathan]

Since it is now down time I want to take advantage by seeing if I can reduce some costs. Where did most of you go to in order to see if you were getting the best possible rate on contractors insurance and bonding. It seems kind of hard to find agents who are willing to give comparisons or brokers who will give more than one rate. I have just used agents referred from friends and relatives, but I know that there is probably better rates out there from reputable companies. By the way I currently pay 150/year for a 4000 bond and approx 1000/year for 500k prop and liab.
Any info would help. Thanks

[Nathan]

Come on guys! Am I the only one who is legally operating out there or am I just getting such a great price that no one has and help to offer.

[CCSwanson]

I am paying 300 per yr with 1 mil liability

[Nathan]

That is insane. Where did you find the company?

[thelawnguy]

You will need to contact several agents, as most are beholden to one company for the majority of their income.

My contractor liability is $278 for $1 million coverage (6 months) lawn maintenance, and another 278 for street cleaning 6 mo (plowing). Farm Family, available thru your local Farm Bureau.

[Ssouth]

Pay $750/yr. for 1 million liab

$1400/yr. for 1 million liab. and full coverage on truck and trailer.

[Nathan]

Thanks for the input, I would like to know who you are using and how you found them as the best price.

[Scraper]

I am currently paying about $350/yr for $1M liability along with riders for larger equipment...all thru Nationwide

[CCSwanson]

I thought 300.00 per year W/ 1 mil in liability was a fair price I also have my insurance through Nationwide

[Nathan]

CCSwanson, What I meant by insane, was insanely cheap. It sounds like I need to contact Nationwide. Thanks

[Pauls Mowing]

I pay $300.00 per year for $500,000 in liability, which also covers my equipment.

My '92 C-3500 is $758 /year full coverage, just covers my wife and myself for drivers. Both are through American Family.

I do not plow with my trucks.

Paul

[Richard Martin]

$500.00/year for 2 mill. liability and equiptment coverage. Harford Insurance.

[jkinchla]

I use farm family insurance too, costs about $350 for commercial liability. Also, their vehicle insurance is the cheapest I could find, and my agent provides very good service. Go to http://www.farmfamily.com
You need to be a farm bureau member, but it only costs $50 and is very much worth it - they deal with a lot of pesticide and labor issues in MA

[Dan Stoms]

Nathan, I use American General. 350 a year for 500k liability plus my equipment. An independant agent should be able to find you the best price,but ask more than one cause they all don't have access to all companies.

[Nathan]

Thanks to all you guys, all the info is very helpful.

[Currier]

I pay $300.00 per year for 1 million liability. American family insurance.

[Edited by Currier on 12-16-2000 at 02:27 AM]

[CCLC]

That sound pretty close for the liability. It is all based on exposure though. As you add employees and start doing more work it will certianly be higher.

Paul's Mowing-Check somewhere else for your truck insurance. That rate that you quoted is what we pay for our 1999 K-3500 with all employees and other "authorized" drivers being covered and we use it for snow plowing.