How much do I hate insurance companies? (Rant)

Discussion in 'Business Operations' started by mattfromNY, Jan 12, 2009.

  1. Grassmechanic

    Grassmechanic LawnSite Silver Member
    Posts: 2,697

    Progressive is owned by George Soros. He named that company right, eh?

    I wouldn't give that jackazz a penny of my money even if it is cheaper.
     
  2. Jon11

    Jon11 LawnSite Member
    Posts: 24

    I wasn't aware of that. But even so, for about a $1500 a year difference, I don't care who owns it as long as they keep treating me as good as they have.
     
  3. Daily Lawn/Landscape

    Daily Lawn/Landscape LawnSite Senior Member
    Posts: 694

    I have been with State Farm for over 18 yrs. Have never had a problem with any claim. In the past 4 yrs we have had 2 totals and a collision repair and my premium has only gone up about 12%. I don't see myself leaving, they will have to get rid of me.

    James
     
  4. mattfromNY

    mattfromNY LawnSite Bronze Member
    Posts: 1,581

    How much should a small business alocate for insurance. I guess I'm asking if there is a 'golden rule' in the business world regarding how much of your budget should be spent on insurance, a threshold so to speak.
    In running my numbers and working on end of year, I am at 8% of total gross sales spent on insurance (liability, WC, commercial auto and umbrella). I feel this is way too much.
    Obviously, the answer would be to raise my gross, in turn lowering the percentage, as the insurance is almost a fixed cost (minus the WC, which is based on number of hours worked).
    Anyone have any feedback? good or bad. It is something I need to address. (Though, it is probably just b/c I live in the good ole state of NY!)
     
  5. Two Seasons

    Two Seasons LawnSite Senior Member
    Posts: 791

    We are spending a little over 5% annually for our insurance.
     
  6. mattfromNY

    mattfromNY LawnSite Bronze Member
    Posts: 1,581

    It wouldn't take me a whole lot more to get my gross up, in effect bringing my percent cost down, but man- when you think of almost 10% of EVERYTHING you make in a year going to insurance?!?! Mind boggling. Nevermind taxes and everything else. Where's that big circle 'Bang head here' ????
     
  7. Grassmechanic

    Grassmechanic LawnSite Silver Member
    Posts: 2,697

    That's fine. This is a free country and you can do as you please with your cash.:waving:

    I just can't give my cash to a self proclaimed owner of the Democrat Party and a Nazi collaborator. Even if they are cheaper.
     
  8. DLAWNS

    DLAWNS LawnSite Fanatic
    Posts: 5,778

    I have also heard bad things about All State....sorry about the problems that you had with them. I used Progessive and had no problems but have switched over to Peerless so I have one big policy with my liability and everything else.
     
  9. Frue

    Frue LawnSite Bronze Member
    Posts: 1,468

    wait till erie raises your policy EVERY year then wonders why you drop them.
     
  10. ProStreetCamaro

    ProStreetCamaro LawnSite Platinum Member
    Posts: 4,121



    You mean this video?

    http://www.youtube.com/watch?v=0WcZJ3ww07U
     

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