View Full Version : Insurance
11-15-2004, 06:15 PM
How much does it usually cost to get $1,000,000 property damage and $1,000,000 bodily injury insurance to carry for 7 months through mowing season? The reason i'm asking is because that is how much liability insurance the school that i'm getting ready to bid requires.
11-15-2004, 06:55 PM
I didn't look to see where you are located, but that is a lot of insurance. I'm sure it well exceeds your state limits of liability for this business. Call your agent and ask him and maybe you could negotiate with the school. Why cover yourself for $1M, when state statute may only mandate a fraction of that amount for liability for property damage or bodily injury. I called my agent, and a quick guestimate was $1100-1300 for that policy, (without the particulars).
11-16-2004, 12:44 PM
1M in insurance isn't much more than 100k in insurance. I carried 1m on my truck and 1m liability and total it was under $1000 a year excluding collision on the truck. Also make sure you get Volentary Negligence insurance. A regular liability policy will not cover a rock thrown out of a mower in most cases. The company will say it was not an "accident" so much as an act of your personal negligence. ie. you should have picked up the rock. Your regular liability covers true accidents. Basically if the insurance company can say you shouldn't have done what ever you did that caused the accident and not pay for it.
Take tree work for example. If you cut down a tree out in an open field and drop it on a hunter than came runing buy your insurance should cover it. If you are cutting a tree next to someones house and you hit the house your insurance wont cover it. You should have took the tree down in peices or used a cran.
Anyway to answer you question 1M in insurance is cheaper than you think. Just call you insurance guy. If you need documentation before the school excepts your bid you insurance guy should be able to draft you a statement that shows that you have a policy lined up if you get the job so you don't h ave to get the insurance if you don't get the job.
Hope that helps
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