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Sole proprietors

Discussion in 'Business Operations' started by snap12.5, Mar 10, 2005.

  1. snap12.5

    snap12.5 LawnSite Senior Member
    from Ohio
    Posts: 288

    in total, how much do u guys pay annually in liability insurance, vehicle insurance, storage, and other overhead???
  2. walker-talker

    walker-talker LawnSite Platinum Member
    from Midwest
    Posts: 4,771

    $600 for 1mil, 2mil agg for GL, $600 pesticide GL written into that and $432 for $12K equipment ins. and $408 for two trucks. All prices are rated per year.
  3. two_planks

    two_planks LawnSite Member
    Posts: 206

    $750 for 2mil, $576 for disability, $684 for one vehicle
  4. fairwayCuts

    fairwayCuts LawnSite Member
    Posts: 161

    I just got a quote from my insurance guy the other day from Nationwide. For 300K/600K along with theft on my equipment(5K) and an accounts recievable rider it was about $450/yr. He also gave me another quote for I think 1m/2m theft and the accounts recivable rider for I believe 550/yr. I had also gotten a quote from Erie and they were a bit higher( 75-100 more). As for my auto ins, I pay $88.00 per month.
  5. twins_lawn_care

    twins_lawn_care LawnSite Senior Member
    Posts: 932

    500/1mil from Am Fam is $380 a year here.
    truck insurance (state farm) $636

    license $75

    overhead... too much to list, but too important not to figure out! license, insurance, advertising, gas, equipment, computer, supplies, etc.

    All of my costs included it costs me about $22 an hour to operate (I'm part time still, so this is based on 300 man hours) this includes my salary (pay myself $15/hour for this figure, so $7 for all others). above this is the profit to the business.

    hope this helps.
  6. lqmustang

    lqmustang LawnSite Senior Member
    Posts: 620

    Liability including pesticides, plus equipment up to $8k is $484 thru Erie.

    Have my truck thru State Farm about $850/yr.
  7. snap12.5

    snap12.5 LawnSite Senior Member
    from Ohio
    Posts: 288

    thanks for the replies. my estimates were not far off.
  8. procut

    procut LawnSite Bronze Member
    Posts: 1,853

    $402/year for 2 million liability plus $8000 equiptment.

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