Insurance Hikes ????!!!!

Discussion in 'Business Operations' started by PAPS, Oct 28, 2002.

  1. PAPS

    PAPS LawnSite Senior Member
    Posts: 404

    I recently had my insurance renewed and you guys will not believe the hikes I got hit with from CNA. My auto policy went up a ridiculous 20.5 % !!! or about $1600.00 !!!!!!
    I had NO claims last year, NO tickets, NO nothing !!! I contacted my insurance rep. and he told me that this year 15-20% increase is what is going on !!! Did this happend to anyone else besides me??? I told the rep. that I was getting other quotes at this point because 20.5% is simply out of control. Am I getting ripped off here or what????

    Note: I have (5) trucks and (2) trailers on that policy. (1) truck had no increase.
     
  2. paul

    paul Lawnsite Addict
    Posts: 1,625

    Your not the first!!!!!! we saw a 35% increase mid year.
     
  3. HBFOXJr

    HBFOXJr LawnSite Bronze Member
    Posts: 1,712

    WE use CNA as well and those were the numbers. The liability and umbrella pkgs were not as bad as I expected. So they stick it to you on something not too easy to get and not too negotiable. I think they are looking at the over all picture. Mu agent told me the market was tight (hard market) and will remain so for a few years. Then it will get more competitive. I'm probably paying in the mid to high teens for my trucks and none are super heavy duty ones.

    I don't like the numbers but I find for me that other companies promise stuff they can't deliver. Apply pesicides, drop ya, plow snow, drop ya, work on athletic fields , drop ya after having sucked you in with we can save you money. Or, they will put it to you in the second year. They also will play with payroll numbers for rating and premium purposes with out your permission to get the pakg sold. Then next year you get an audit and surprise, suprise you under paid and you owe money. With CNA the contractor is KING.
     
  4. brentsawyer

    brentsawyer LawnSite Senior Member
    Posts: 663

    A friend of mine is an independant Allstate agent and he has been saying for the past year that all other companies would be raising their prices in line with what your experiencing. So yes, this has been an expected and announced move and no, your probably not getting ripped off. The reasons are plain and simple, for every dollar the insurance industry has been receiving in premiums for the past year and a half, they have paid well over that amount. Now, for him and Allstate, they have kept theirs in line with previous years because they were already up their in premiums and now are apart of the pack. Seems like it is a move that we'll all have to adjust to and our prices as a whole will need to reflect this in the upcoming years.
     
  5. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    Bryan..try Nationwide
     
  6. John Allin

    John Allin LawnSite Bronze Member
    Posts: 1,489

    What I woundn't give for just a 20% increase........

    Enjoy it while you can.
     

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