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Old 11-02-2011, 08:57 PM
tdifonzo tdifonzo is offline
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Insurance

Hey Guys,
I'm kinda new to the business. Just started this July. I was curious as to how much liability insurance most guys are carrying. I started out with $500,000 in coverage and was just wondering if that was to much or not enough. What are your thoughts on this?
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Old 11-02-2011, 10:28 PM
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GMLC GMLC is offline
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1 million, most commercial/municipal require this much or more.
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Old 11-02-2011, 10:29 PM
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mnglocker mnglocker is offline
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1mil is on the light side if you ask me. Insurance is cheap.
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Old 11-02-2011, 10:41 PM
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zturncutter zturncutter is offline
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1 million 2 million aggregate at the minimum.
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Old 11-03-2011, 02:27 AM
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HLM HustlerZ HLM HustlerZ is offline
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We're a partnership. Carrying 1 million with 2 million aggregate, it's only $300.00 a year through Nationwide.
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Old 11-03-2011, 11:43 AM
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Georgia Lawn Georgia Lawn is offline
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1 million is what we have as well.
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Old 11-03-2011, 02:27 PM
tdifonzo tdifonzo is offline
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I,m not doing any commercial or municipal accounts just yet. Looks like I will bump it to 1 million though.
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10x5 Open Trailer
Gravely Pro 250z zeroturn Mower
Ransomes Bobcat 36" Walkbehind
Encore Pro Series 32" Walkbehind
Yardmachines 22" Pushmower
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Echo Backpack Blower
Echo Stick Edger
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Old 11-03-2011, 02:38 PM
JDiepstra JDiepstra is offline
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I have 1 million but I think it is WAY overkill. What in God's name am I going to need 1 million in insurance to cover? I'm not going to be killing anyone or blowing their eyes out with rocks or anything like that. Some people may disagree, but I work with safety in mind.
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Old 11-03-2011, 02:45 PM
tdifonzo tdifonzo is offline
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Those were my thought too,Jdiepstra. I'm just a small guy starting out. I thought 1 million was a little overkill.
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10x5 Open Trailer
Gravely Pro 250z zeroturn Mower
Ransomes Bobcat 36" Walkbehind
Encore Pro Series 32" Walkbehind
Yardmachines 22" Pushmower
2 Echo Trimmers
Echo Backpack Blower
Echo Stick Edger
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Old 11-03-2011, 02:54 PM
JDiepstra JDiepstra is offline
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Quote:
Originally Posted by tdifonzo View Post
Those were my thought too,Jdiepstra. I'm just a small guy starting out. I thought 1 million was a little overkill.
I think for a smallish solo operator it's plenty. Now if I was a huge company with lots of crews and had a bunch of loaders etc for snow removal and was doing work on a much larger scale, I would think I'd want more. I think your amount of coverage should grow along with the size of the company. Especially when you start hiring the bottom of the barrel to work for you cause it's all you can find. Side note: your insurance doesn't cover stolen property and it's cheap to get that coverage added on so look into it.
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