Did this happen to you?

Discussion in 'Business Operations' started by AK Lawn, Apr 8, 2002.

  1. AK Lawn

    AK Lawn LawnSite Member
    Posts: 186

    Did any of your LCO's have your insurance go up this upcoming summer, mine went up 15%, supposably because of the effects of sept. 11th becsause of security, do not understand why but did this happen to anyone else?
    AK Lawn
  2. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    Not me...at least, so far.

    But you never know.
  3. landscaper3

    landscaper3 LawnSite Bronze Member
    Posts: 1,354

    Yes our did too! Hit me good with the amount of employees.
  4. smburgess

    smburgess LawnSite Senior Member
    Posts: 469

    12% increase in W/C (no claims in two years)
  5. Doogiegh

    Doogiegh LawnSite Senior Member
    Posts: 871

    My father in law just so happens to write insurance policies. The WTC was such a huge, unprecedented loss, something like $70 billion+, that all insurance companies will be raising rates.. You know the big names, Prudential, Met-Life, Allstate, etc etc.. Well, because they got such an added burden here on the east coast and so many of these companies are inter-laced with sisters and partner companies and agents for this and that, etc, all the rates go up.

    He was telling me about how you might have a car insurance policy with All-state. Well, all-state might underwrite the policy, but pass off 10,000 policies to a 3rd party from Wisconsin..The entire insurance game is a calculated matter of possible risks versus premiums coming in..

    So now you got a company in Wisconsin who suddenly cares about 10,000 cars in NY, but all you know as the consumer is your coverage is via Allstate and for claims, dial 1-800-.......
  6. 1MajorTom

    1MajorTom Senior Moderator
    Posts: 6,074

    Our policy renewal is in March. Fortunately it did not increase this year. We use Erie.
  7. MOW ED

    MOW ED LawnSite Fanatic
    Posts: 5,028

    Yep, about 40% for the business.
    Doogiegh, I am in Wisconsin and you are right, they raised rates on all my policies, personal and business. I shopped around and could not get any better than paying my increase. I just hope nothing else happens.
    I have no claims for the business and I have never had an accident, speeding ticket or loss for my personal policies. I guess I should change professions.

    I am amazed at the size of the buildings that these insurance companies have. It is good for the commercial cutter but most are so big they have their own grounds crew.
  8. Scraper

    Scraper LawnSite Bronze Member
    Posts: 1,656

    Mine stayed the same as well, just renewed last week...Nationwide.
  9. davesgs75

    davesgs75 LawnSite Member
    Posts: 72

    Yes, Mine went up to.
  10. Nebraska

    Nebraska LawnSite Senior Member
    Posts: 525

    Ours went up 30%.... We found a new carrier through my agent and reduced it 15% from the original policy... It pays to shop around!

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