What does insurance cost?

Discussion in 'Business Operations' started by juststartin, Feb 5, 2003.

  1. MOOSE

    MOOSE LawnSite Senior Member
    Posts: 393

    tiedeman, I think u got that switched around.

    I pay $800 thru safeco for 1mil liability and $2400 for $35,000 for work comp thru Amerisure.

    You need to check that.

    Your best bet is too shop around and have a slip of paper that shows what the insurance carrier covers and for how much.

    I'd shop around.. I did with my vehicle carrier and got very good preminiums. Other told me 1400 to 2200 for year full coverage. And I got it for $1260 a year.

    I had a walkbehind stolen from my garage and my insurance company give me more then what I was expecting. 96' model 48" Ferris and I got $1800 clams.. And that was in Sept. of 2001

    SHOP AROUND.
     
  2. tiedeman

    tiedeman LawnSite Fanatic
    from earth
    Posts: 8,745

    trust me I shopped around...that is the price...I went through about 2 dozen companies before I found that price which was the cheapest
     
  3. tiedeman

    tiedeman LawnSite Fanatic
    from earth
    Posts: 8,745

    one other thing that I learned about the insurance companies around here, which I thought was very interesting was the fact that usually around 5 or more companies in the area go through the same provider, so once you get an estimate from one of the companies another company can not get an estimate from that same provider because it is a first come first serve basis....pretty intersting huh!?
     
  4. MOOSE

    MOOSE LawnSite Senior Member
    Posts: 393

    tiedeman, who's your work comp carrier. That's diffenitly a good price for work comp..
    Like I said mine is $2400 for 35,000 coverage.

    I work in the Bloomfield Hills area. I used to travel into Livonia to do site work for Consumers Energy.
     
  5. tiedeman

    tiedeman LawnSite Fanatic
    from earth
    Posts: 8,745

    The Accident Fund is the carrier..of course it doesn't cover as high of income as yours. I am going to have to update again this year..and the early estimate is that its going to be around $1,300
     
  6. tiedeman

    tiedeman LawnSite Fanatic
    from earth
    Posts: 8,745

    what about your liability, where do you go through... I had to switch covers last fall and my price went up almost $1,100 from my previous carrier. My pervious carrier couldn't cover all of the services that I do so they had to drop me.
     
  7. MOOSE

    MOOSE LawnSite Senior Member
    Posts: 393

    Safeco covers me for liability.... there good...
     
  8. Tony Harrell

    Tony Harrell LawnSite Senior Member
    Posts: 739

    Naturalawn, where do you get that insurance for $318? It does cover turf and ornamental?
     
  9. greenman

    greenman LawnSite Addict
    Posts: 1,405

    Inform me as well,please.
     
  10. Hawkeye5

    Hawkeye5 LawnSite Senior Member
    Posts: 295

    Tiedeman: Independent agency insurance companies will only quote the same account for one agent. The agents can vary their commission, normally happens on large risks, not our size. As a result, the companies don't want to have two different premium quotes for different amounts through different agents. Causes them problems with their sales force. Many independent agents send a commercial account to every carrier they represent, thereby "blocking the market". They do this to prevent a company they represent, but didn't send the quote to, from beating them through another agent. You can select a different agent that represents the low quote company rather than the one that got the quote for you through an "agent of record letter". Most companies hate doing it because the first agent did all the work and earns no commission on the sale while the one that becomes the new agent of record did no work for the commission! As you can see, an agent of record letter is a bit of a dirty trick.
     

Share This Page