Theft insurance needed

Discussion in 'Business Operations' started by Turf Dawg, Jan 10, 2007.

  1. Turf Dawg

    Turf Dawg LawnSite Gold Member
    Posts: 3,719

    A friend of mine just had all of his equipement stolen. This put him out of business. I am buying him out, so this means more equipement. When I checked with my insurance agent about theft I found out I am not covered. I mean not even if got stolen from the house, because it is used for a business. Also they do not even offer theft coverage. This kind of gripes my butt, because I have four polices with them [ home , auto, commercial auto and a 1 mil. commercial liability.] Does anyone know where I can find this? I am located in north Texas.
     
  2. pclawncare

    pclawncare LawnSite Senior Member
    Posts: 991

    When i first got my insurance i had some kind of coverage for theft but the limit was 1000 and deductable was 100 now will some one tell me what they could steel off my trailer that would cost only a thousand dollars? 2 trimmers thats about that id rather just keep my money and buy new stuff if it gets stolen. I couldnt get coverage on theft higher than that and it was about 15 bucks a month for the 1000
     
  3. DBL

    DBL LawnSite Silver Member
    Posts: 2,219

    change ins companies i think its a necesity in what should be covered my stuff is covered in my general equipment section
     
  4. Richard Martin

    Richard Martin LawnSite Fanatic
    Posts: 14,700

    State Farm. I'm covered for $1 MILL in liabilty and up to $20,000 in loss/theft on my machines. I can go to any amount I want on the machines but that is sufficient for now. It's a replacement policy, not the depreciated value. You have to be careful of that since a lot of theft policies are for depreciated value only.
     
  5. Mowingman

    Mowingman LawnSite Platinum Member
    from Texas
    Posts: 4,666

    Go down to Lord and Company Ins. in Denton. They have "Inland Marine". That is what you have to buy to cover your equipment here in Texas. It is not cheap, as we are so close to Mexico.
    Ask for Nichole. She can get a qoute for you. I just talked to her yesterday about this same thing, and have used them for many years for liability, workers comp., and Inland Marine.
     
  6. Duekster

    Duekster LawnSite Fanatic
    from DFW, TX
    Posts: 7,961

    Erin Magouirk

    Customer Service Representative

    KMC Insurance Services, Inc.

    A Member of the Curley Insurance Group

    Phone: 214-432-1267



    Also, I just insure the big stuff. I would not want to eat a 21" or two with blowers, trimmers and what not. I think I get about 10K for the content of the trailer.

    That's up to you and how your rigs are configured.

    Fax: 972-991-6679
     
  7. Duekster

    Duekster LawnSite Fanatic
    from DFW, TX
    Posts: 7,961


    State Farm would not quote a full line of commerical in Texas. That was about two years ago.
     
  8. Richard Martin

    Richard Martin LawnSite Fanatic
    Posts: 14,700

    Theft must be a serious problem there. Yeah, we need more illegals here.
     
  9. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    It's very important to review your Inland Marine coverage at least once a year. I will fax copies of invoices of any new equipment acquisitions of $500 or more to my insurance broker so I am covered immediately as well.
     
  10. Duekster

    Duekster LawnSite Fanatic
    from DFW, TX
    Posts: 7,961


    I don't use them and I am not sure they are the ones doing the stealing.
     

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