what would you pay for 100,000,000. in insured

Discussion in 'Business Operations' started by walterslawn&landscap, Mar 4, 2003.

  1. walterslawn&landscap

    walterslawn&landscap LawnSite Member
    Posts: 25

    what would you pay i am paying 271.00 a year is this cheap ?
  2. MacLawnCo

    MacLawnCo LawnSite Bronze Member
    Posts: 1,847

    i dont think so, but it varies from location to location. Best way is to call around and ask for quotes. Its simple, free, and then you will know for sure if you are getting the best price possible.
  3. Richard Martin

    Richard Martin LawnSite Fanatic
    Posts: 14,700

    I would think you would be a little overinsured at 100 million dollars. Or did you mean to say one hundred thousand dollars? Or was that a million? If you're paying $271 for a 1 million dollar liability policy then that sounds about right. I pay $797 for 1(2) million dollar liability policy that includes equipment coverage, storage building coverage, and a whole bunch of other stuff.
  4. walker-talker

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

    I am paying around $500 for 1 mil/2mil agg. I buddy of mine got a quote for $350 a year for 1mil. So, I don't think $271 is good for $100,000, pretty decent for $1,000,000 and outstanding for $100,000,000.

  5. Rob T

    Rob T LawnSite Member
    Posts: 165

    Are you kidding? I'm paying $2100 this year for 1 Mil 1/2 mil aggr, with 2 employees. Can't believe yor ins so cheap. How about throwing some names/numbers of Ins Companies around. I'm thinking I need to start looking around.
  6. cos

    cos LawnSite Addict
    Posts: 1,253

    That's a damn good price!!!! I can't get half or even 300,000 for that price!!!
  7. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    $271 means nothing to us cause we don't know if it's for 100K, 1M, or what.

    We are paying around $2500 a year for a 2M aggregate policy. That includes $100 deductable, equipment and storage coverage. 3 trucks and 3 trailers are extra.
  8. walker-talker

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

    The $350 a year quote was through American Family, if I am not mistaken.

    The $500 a year that I am paying is unknown right now. I went through a broker and should receive the paper work soon. If you email me, I will give the exact name in a week or so. She said it was $500, but until I see it broke down on paper, I won't know for sure.

    The total came to $2230 for 1mil GL and 1mil pesticide, 2 trucks and trailer and about 8K in equipment, all with a $500 deductible.
    Email me and I will get that info to you when I receive it.

  9. dougaustreim

    dougaustreim LawnSite Senior Member
    Posts: 488

    Actual rates for liability are based on payroll and business volume. The same coverage costs some of us thousands that are doing larger dollar volumes that one man shows get for a few hundred. Can't compare rates unless you have all the numbers that go into the equations

    Austreim Landscaping
  10. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    Good point, Doug...the same goes with WC rates as well. Glad to see someone is awake at the switch!

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