Our liability insurance went up 20%---you seeing an increase too?

Discussion in 'Business Operations' started by Two Seasons, Dec 17, 2008.

  1. Two Seasons

    Two Seasons LawnSite Senior Member
    Posts: 791

    Was curious why our insurance went up 20% year over year. No claims and the agency is a real hands-off, emails everything to communicate with us. Not personal.

    Last year we paid $250, this year $300 for a 1M policy.

    Insurance company is Allied Insurance, a Nationwide company. Never been a fan of Nationwide.

    Can we do any better with someone else? Thanks for the help and I'm going back to work so won't be on-line for the rest of the day. Lots of snow around here, so it's $$$.$$ time!
     
  2. supercuts

    supercuts LawnSite Silver Member
    Posts: 2,784

    that doenst seem like much, my family health care went from $650 3 years ago to $1200 a month now. im more worried about that.
     
  3. dougaustreim

    dougaustreim LawnSite Senior Member
    Posts: 488

    Our PKG actually went down this year, even though we'd actually had a few small claims.
     
  4. JDUtah

    JDUtah LawnSite Silver Member
    from UT
    Posts: 2,636

    get quotes from other agencies, let yours know you are not satisfied... Might be the agent thinking he has you for life, trying to rip you a little?
     
  5. HOOLIE

    HOOLIE LawnSite Gold Member
    Posts: 3,981

    Highly unlikely you'll beat $300 a year...I mean come on do you expect them to underwrite your policy and all for nothing??? Maybe that's WHY they send emails, to keep things cheap.
     
  6. DLAWNS

    DLAWNS LawnSite Fanatic
    Posts: 5,778

    I pay a lot more than that. Mine hasn't increased at all. Talk to them about it and get other quotes so that you know where you're at.
     
  7. Two Seasons

    Two Seasons LawnSite Senior Member
    Posts: 791

    Thanks for the replies.

    It's the 20% increase that is troubling to me, not the fact that it's "just $300" as some have inferred.

    Imagine you increasing your new customer's services in 2009 by 20%, they'd go shopping---guaranteed! And that is what we will be doing too.
     
  8. HOOLIE

    HOOLIE LawnSite Gold Member
    Posts: 3,981

    They may have incurred a lot of claims in the past year, and are passing the increased cost out across all their clients. You should call them and ask.

    When I inferred that is was 'just $300', what I was saying was, that's still dirt-cheap. I'm guessing maybe this was the only insurance company you called originally and just lucked out to find the cheapest one. Call about 10 other companies and you'll be shocked at the prices. I got quotes ranging from $295 to over $3000, and most of them were over $1000, and I called about 15 insurance companies.

    It's kind of as if you were paying $10 to have your lawn cut, and the LCO increased it to $12, and you got all fired up over the 20% increase and shopped around to discover everyone else is charging $35 :laugh:
     
  9. lawnman_scott

    lawnman_scott LawnSite Fanatic
    Posts: 7,547

    Except that you will be wasting your time. You wont find it any cheaper anywhere that you already have.
     
  10. Stillwater

    Stillwater LawnSite Platinum Member
    Posts: 4,798


    GOOD LORD wanna trade bills?????
     

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