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Liability insurance quotes?

Discussion in 'Business Operations' started by machsixer, Mar 21, 2007.

  1. machsixer

    machsixer LawnSite Member
    Posts: 33

    Hello everyone,
    What is a general figure for what all of you are paying for about $1 mil of liability insurance these days?
    I'm shopping for an insurance company and would like some references etc.

    Thanks board!
  2. ribbie78

    ribbie78 LawnSite Member
    Posts: 150

    I'm interested in changing next year so post how much and with who. I needed to get one quick this December and went with Nationwide who also has my homeowner's policy and I think it's awful compared to what some of you are getting. I need to doublecheck but I think it's only good for about 300K liability and 12K equipment and $550 a year.

    I want to know who to switch to next year.
  3. Matts lawn care

    Matts lawn care LawnSite Senior Member
    from MD
    Posts: 829

    I just got insurance for just under 300 and around 80 for equipment coverage (.1% of equipment value) per year. I think that I got a great deal.
  4. 1cooltreeguy

    1cooltreeguy LawnSite Senior Member
    Posts: 630

    Just renewed for $540, 1 mil. liability - Farm Bureau in NC - Lawn maint, spray and all that goes with it.
  5. Uranus

    Uranus LawnSite Bronze Member
    from Mass
    Posts: 1,624

    1 mill will run you in the 700-1100 range. Depends on what you call your company. Lawn maintence, landscapeing. shop around and get a few quotes. Make sure your compairing apples to apples

    State farm
    Perfered Mutual
    National Grange

    Those are a few off the top of my head that I have heard good things about.
  6. vtscaper

    vtscaper LawnSite Member
    Posts: 159

    Premiums will vary depending on how many people you employ. They figure the more employees the greater risk. This isnt really something you can bs them about because they typically do an audit at the end of the year, just like with workmans comp. You can help yourself by not letting them know if you do the occasional tree removal or chain saw work or about the time you put a ladder on the roof to prune that really big tree. Like someone else posted just make sure your comparing apples to apples. If you have a mil in coverage is that just one occurance or do you have a 2 or 4 mil aggregate for the year. Personally I have had better luck with independant companies that use a number of providers instead of like state farm or nationwide. With 2 full time guys I pay around 1000 for the landscaping/lawn care field.
  7. lifetree

    lifetree LawnSite Fanatic
    Posts: 5,370

    That's interesting ... I got a quote this year from Nationwide for $ 500,000 liability limit with $ 12,000 equipment, the price was $ 450.
  8. ribbie78

    ribbie78 LawnSite Member
    Posts: 150

    Exactly. I was "quoted" that 450 and the day i signed it was suddenly 550.It was 450 for the previous LCO who I got the business from this year. Nationwide said "rates went up" and I just didn't have time to shop around before that; with this business opportunity basically falling into my lap suddenly. WHat a joke. That was about a month ago and I needed to secure the insurance to make sure I could bag some of the commercial accounts (some ask for proof of ins). any way i'm seeing what you guys have now and what a rip some local agents are. Small town ripoffs.
  9. machsixer

    machsixer LawnSite Member
    Posts: 33

    I just received my quote of $442/yr with a 1 million liability and 10k for equipment replacement. I am the only employee so far. I think this is a good deal and I don't have to pay the entire amount up front.
  10. FiveOJoe

    FiveOJoe LawnSite Member
    from NJ
    Posts: 249

    I am in NJ and the cheapest quote so far is $1000 for 1 mil. $3100 for the truck and liability combined.

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