Insurance Premium raise??

Discussion in 'Lawn Mowing' started by MOW ED, Jan 26, 2002.

?

How much did your rates increase?

  1. No increase

    4 vote(s)
    22.2%
  2. Increase of 1% to 15%

    8 vote(s)
    44.4%
  3. Increase of 16% to 30%

    4 vote(s)
    22.2%
  4. Increase greater than 30%

    2 vote(s)
    11.1%
  1. MOW ED

    MOW ED LawnSite Fanatic
    Posts: 5,028

    It might be the wrong forum but I think it is relevent to mowing.

    How many of you had an increase in your insurance rates for your business?

    I am a solo operator (+ one) and I have an increase of around 40% this coming season.

    I never had a claim so these sharks are getting their moneys worth from me. I admit that I was spoiled with a relatively low rate for a great policy but it gets to be robbery at some point.

    I know that I have to pass it along to the customer but when does it end?
     
  2. Ed
    Guy join the club ours goes up every year despite never have filed a claim
    We are gonna go a little shopping around and find a different company this year.
    The first three years it went up were not steep increases the last two have been so its time for a change.
     
  3. Richard Martin

    Richard Martin LawnSite Fanatic
    Posts: 14,700

    My insurance company has informed me that there will be a raise this year. They raised it last year about 25% but I suspect they will raise it even further this year. They are blaming the events of Sept. 11 and the increased cost of reinsurance due to those events for the increase. I will be shopping for a new company.
     
  4. INS. CO's do not like to give you your money back.

    Mine has actualy gone down over the years, but I had to file a claim in Dec for some blowers stolen off a truck.
     
  5. SJR Lawncare

    SJR Lawncare LawnSite Senior Member
    Posts: 250

    Mine went up a little too, maybe 15%, but I thought it was already too high. I think I'll do some shopping this season.

    SJR
     
  6. Lawn Dog2001

    Lawn Dog2001 LawnSite Bronze Member
    Posts: 1,027

    I have had some rate hikes myself over the last couple of years. I had one claim three years ago. I am pretty satisfied with my agent, but I will price shop if it gets out of hand.
     
  7. I forgot we did have to file a claim just two weeks ago for burnt up equipment. So when renewal comes up i look for a real bigtime jump.They paid out for a 2001 dixie and 2 string trimmers and a blower less depreciation
    The trailer that burnt was insured by our auto insurance company.
    Now im really depressed!!
     
  8. Captain Calamity

    Captain Calamity LawnSite Member
    Posts: 11

    Ed and others. We have a thread on this about once a year on the CLIP forum. What most of us do is tell our agent that we are rate shopping a month or more before our annual renewal. This way he is on notice that if he wants to keep our business that he will earn it.

    For my company I use Grinnell Mutual out of Iowa. My rates stayed pretty much the same until last year when I earned the handle "Captain Calamity". They have been super on handling the claims that are so far exceeding 50 thousand dollars. They did drop me for Workmans Comp, which I cannot blame them. My other rates have remained about the same.

    Even though Grinnell dropped me, I would still recommend them because their rates and service is hard to beat.
     
  9. MOW ED

    MOW ED LawnSite Fanatic
    Posts: 5,028

    Thanks Dave.
    I searched for Grinnell and found an agent about 4 miles from me. He will be getting a call next week.

    Man I hate insurance.:angry:
     

Share This Page