What's everyone paying for insurance?

Discussion in 'Business Operations' started by Scag48, Mar 5, 2007.

  1. Scag48

    Scag48 LawnSite Fanatic
    Posts: 6,068

    Hey everyone. Gonna call my agent tomorrow about getting some rates for general liability toward my new venture. Just curious as to what everyone else is paying. I know it varies, but I'd just like a few ball park numbers. I've talked to my dad about his insurance, but he's in a whole different ball game. He's bonded for $2 million, has multiple trucks and 2 pieces of heavy equipment on the policy. I'm just going to be getting something fairly basic to cover me so I can get licensed, I hope it's not going to cost me an arm and a leg, only have about 3 accounts at this time.
     
  2. dhardin53

    dhardin53 LawnSite Senior Member
    Posts: 711

    It can realy very as you know. My first police was for 1 mil, just general liability was $350 a year, mowing only. 1 mill is about as low as some componies want to wright anymore. Thats no tree cuting/chain saw work and no lawn aplications/chemicals, and I thing they limit garden tilling and snow removeal. All those have a higher rate of potential clames. To get the lower rate you will be asked if you do these and other dangures tasks.

    I have added coverage for my equipment and my larger trailer for additional $100 a year that is a rider on my truck insurance. There is a difference in personall truck insurece and a small truck used for a busness. To this I added a rider for a trailer full of equipment. The small personal truck insurance will not pay if you have a acident haling the kind of stuf we all use in the commercial LCO today.
    I want to say my truck, trailer and equipment on it, and General liability is around 200 or $250 every quarter.

    But just starting out I feel you only need general liability. To protect you if you damage some thing or some one while doing your work.

    Im no expert on this matter but my wife is. She is a underwrighter for long haule trucking. My agent works with my wife to keep me insured at a reasonal price. You need to shop around and ask lots of questions. You ask or the agent should ask questions so you get the coverage you need. No more no less.

    Oh yes I have found that many compiness will not cover if you break glass, car windows or house or business windows. Make you do get glass covereage. A LCO friend of mine was paying $1400 a year for general liability and that did not cover glass breakage. So look out.
     
  3. TURFLORD

    TURFLORD LawnSite Senior Member
    Posts: 834

    Spell check, please!!!
     
  4. chuck bow

    chuck bow LawnSite Senior Member
    Posts: 701

    1 Million general liability for Mowing and Landscape Maintenance =$491.00
    1 million on the trucks( my com. accounts require this)=$700 per truck per yr
    Inland marine policy( to cover equip on trailer and in shop) $45kcov=700 per yr
    Iam sure iam missing something but this is what i can think of right now.
     
  5. TKO Landscaping

    TKO Landscaping LawnSite Member
    from NJ
    Posts: 45

    A couple recent quotes I got over the winter (NJ) were
    1 million- $746 thru Allstate
    around 925-1100 thru other companies
    2 million-1450 thru The Hartfords
    ( no big tree work, no lawn chemicals, and no commercial snow powing, and some have limited residential plowing to like 10 accounts)
     
  6. corey1977

    corey1977 LawnSite Senior Member
    from maine
    Posts: 262

    I pay $500.00 a year hafe a mill to mow libilty
     
  7. desert rose gardening

    desert rose gardening LawnSite Senior Member
    Posts: 387

    I pay $1,200.00 a year for 2 million.
     
  8. GreenN'Clean

    GreenN'Clean LawnSite Bronze Member
    Posts: 1,512

    I pay $450 a yr for mil policy
     
  9. Chop Stuff Up

    Chop Stuff Up LawnSite Senior Member
    Posts: 457

    too freggin much
     
  10. chuck bow

    chuck bow LawnSite Senior Member
    Posts: 701

    Maybe to much but one rock thru a picture window and its payed for itself believe me i know this for a fact and GOD forbid a rock to someones head and your ruined for life
     

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