Insurance Compaines

Discussion in 'Business Operations' started by Petr51488, Feb 25, 2006.

  1. Petr51488

    Petr51488 LawnSite Silver Member
    from NJ
    Posts: 2,372

    I'm looking for a few good insurance companies. I'm looking for 1/2 mill to 1 mill liability coverage for the business. I'm 18. What would they charge me? Any tips on what to say to get a better rate? I'm sticking strictly with lawn mowing. Can you guys give me a couple names with what type of coverage you have and how much you pay a year?
     
  2. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    We use a broker. They represent many insurance companies. I have one for business, one for vehicles, and another for wc.
     
  3. Grn Mtn

    Grn Mtn LawnSite Senior Member
    Posts: 863

    Being that your 18 that is going to hurt you.
    Being that you only mow lawns, that is going help you.

    All the sweet talking in the world ain't gonna make a difference. Insurance companies use really complicated formula's to figure out how to suck you dry: ex. "So Mr. X, how many times to you breathe on wednesday? And your mother's maiden name? Lastly, there will be 4 full moons this coming year so your total will be $$$$$:hammerhead: :cry: :laugh:

    Seriously, Only listen to response of apples to apples: 18-23 year olds who only mow (residential).

    Commercial will bump up premiums--more liability.
     
  4. Petr51488

    Petr51488 LawnSite Silver Member
    from NJ
    Posts: 2,372


    Yea, i plan on only doing residential. Ill stay away from the commercial for a few years. Has anyone ever heard of Erie Insurance? Are they any good?
     
  5. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    Lots of guys here use Erie with good remarks as well. Unfortunately, they don't cover guys in NJ.
     
  6. Grn Mtn

    Grn Mtn LawnSite Senior Member
    Posts: 863

    What I ended up doing to find mine was to call about 15 companies in the yellow pages, request quotes from the internet, and asked my friends in the business who they had.

    For me the deal breaker was commercial plowing, not many companies touch it + insuring in NY is a royal pain so I ended up with 4 companies responding with quotes 2 were $10K+ and 2 were $3K+. So I asked the 2 lower priced companies for more info. One clearly understood how to insure business--this is important, make sure the person handling your account specializes in commercial insurance. That broker ended up using Peerless to insure me with 2mil GL + commercial auto with equipment and rental coverage. I pay about $3400 for the year, but that info is pointless to you because of what I have previously mentioned. (Age, State, Type of Business, When its a full moon:laugh: )
     
  7. Petr51488

    Petr51488 LawnSite Silver Member
    from NJ
    Posts: 2,372

    Anyone else?
     
  8. scagchevy4life

    scagchevy4life LawnSite Member
    Posts: 46

    i am only 17 and gettign libability.. its soo cheap..
    1.3 million = only $350 a year!
    good ****
    i have 60 lawn jobs too. they didint care...
     
  9. palawnman

    palawnman LawnSite Member
    from PA
    Posts: 159

    I was always under the impression that you couldnt get business insurance if you were under 18.

    Anyways, I just signed up with Erie, and talked at length with my agent about it. Because I thought that I got such a good price on the insurance I was kind of skeptical. The way she basically explained it is, Erie saw a way to make insuring businesses cheaper and still make a profit on it. Each insurance company usually has their niche. From what I hear Progressive is one of the best for motorcycle insurance, Erie is one of the best for commercial insurance, etc. Its hard to find one company that is the best for all your needs. If you do talk to an erie agent, ask about the 5 star contractors policy, thats probably your best bet. I have also heard that Ohio casualty is also pretty reasonable. Good Luck.

    Ron
     
  10. Petr51488

    Petr51488 LawnSite Silver Member
    from NJ
    Posts: 2,372

    Thanks guys.. Yea, how do you have insurance at 17? Is the business in your parents name? Also, I was told erie isn't in my state. I tried Safeco insurance. I will call a few tomorrow...
     

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