Originally Posted by jslawnscape
Thanks for reply. If anyone has anything else, please post. I will be owner/operator with one additional employee to start. To get insurance rolling there will be no payroll until jobs start coming in. I will have my auto insurance separate. I need a ball park figure for the liability end of the insurance for installations. Not that I have ever had a problem in the past or even heard of anything but dealing with electricity I always wondered/worried about possibility of a fire. Im sure that the insurance companies take that into consideration. My landscape insurance was a decent rate but as soon as I mentioned any work done from heights my insurance agent informed me that my rates were going to skyrocket. Same kind of scenario I guess im trying to figure out here. Not a big deal I can call around this week just thought id try here while i had nothing else going on tonight.
For your General Liability and Work Comp they will ask you to estimate the total payroll for the policy period. With only one other employee this will be easy to do and probably fairly inexpensive since as an owner you will be exempt from the WCI policy. The auto will be based on the number of vehicles.... right now I think we pay about $1000 per vehicle per year for commercial auto insurance which works out to about $83 per month. If you are doing commercial work you may be asked for an umbrella policy in addition to your General Liability Policy. I think we are paying about $8K a year for a $5million umbrella. I don't recall what our Gen Liability is running as it's all lumped in with our Umbrella, EPLI, Inland Marine and D&O policies. Find a good broker that sells commercial insurance... don't bother with Allstate or State Farm or one of those companies who sells homeowners insurance.... they call me all the time trying to sell me auto insurance... I just laugh at them.