Insurance

Discussion in 'Business Operations' started by Tom c., Apr 10, 2007.

  1. Tom c.

    Tom c. LawnSite Member
    Posts: 218

    I need help can anyone give me any figures in insurance [what theyre paying for what kind of coverage? and insurance company names in the N.J. area. Im solo so Im just looking for general liability coverage in case a mower throws a rock or something, or do some of the policies cover equipment? I got a quote for a .5 mil coverage for 745.00 a year and 1 mil coverage for 895.00 Thanks for anything you can throw my way!!:usflag:
     
  2. mattfromNY

    mattfromNY LawnSite Bronze Member
    Posts: 1,581

    Best I could tell you is to do a search on here. This topic comes up ALOT! As far as what others are paying wont really help you much, too many variables. I pay about $1000/ yr. for 1 million liability for mowing, snow plowing, underground, in and outside the home on the property, etc., plus it covers some of my equipment. Like I said, lots of variables, such as your age, years in business, what type of work will you do, deductibles, etc.
    Best bet is to figure out what coverage you need, then call around to get quotes for the same coverage from several companies so you are comparing apples to apples.
     
  3. mattfromNY

    mattfromNY LawnSite Bronze Member
    Posts: 1,581

    I guess I missed the 'In the NJ area' part, but what I said in the previous post should hold true anywhere you do business.
     
  4. Ecoscape01

    Ecoscape01 LawnSite Senior Member
    Posts: 375

    I'm in Southeastern Pa. This is my first season and I have no professional experience so I had a hard time even finding someone to insure me. Then I found an agent from Erie Insurance Inc. who not only wrote me a policy, but wrote me a policy for 1mil for 264 a year. He also saved almost 50% on my auto insurance. I might try giving an Erie agent a call if they cover your area.
     
  5. Gatewayuser

    Gatewayuser LawnSite Bronze Member
    Posts: 1,734

    Like $1600 because I have employees
     
  6. Tom c.

    Tom c. LawnSite Member
    Posts: 218

    Thanks my homeowners ins agent is gonna get back to me on coverage but Id like to get some numbers to compare. So far it varies ALOT!!!
     
  7. Fantasy Lawns

    Fantasy Lawns LawnSite Bronze Member
    Posts: 1,913

    Keep in mine that rates are gonna vary from state to state

    But the greatest issue that will vary is the size of your payroll ....ie number of full time & part time employees

    And than the length in business kicks in
     
  8. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    they don't...I pay $2671 for liability and another $950 for inland marine.
     

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