Work Comp?

Discussion in 'Business Operations' started by GSPHUNTER, Jan 28, 2011.

  1. GSPHUNTER

    GSPHUNTER LawnSite Senior Member
    Posts: 310

    Hey guys I submitted a bid with a local university. Obviously being a university they want all documents for insurance and such. My question is do you guys ever change policy limits to appease a particular customer. They want mine raised on my Work Comp policy. Anyone who carries WC already knows that it's outrageous as it is. Just wondering if anyone has ever made changes for customers requesting higher limits.

    The work over the next year probably totals up to about $15k-$16k with a couple small walls and a maintenance package. Just thought this might influence some decisions?
     
  2. AI Inc

    AI Inc LawnSite Fanatic
    Posts: 25,540

    Comp is comp, dosnt have limits. Im thinking they want a higher liability amount.
     
  3. bohiaa

    bohiaa LawnSite Fanatic
    Posts: 5,220

    Yes Some places will want you to raise your limits on WC. We had an appartment complex try this on us....

    Remember to raise your price accordingly
     
  4. GSPHUNTER

    GSPHUNTER LawnSite Senior Member
    Posts: 310

    Talked the insurance agent this morning after I posted this and they got back to me already. It's only going to cost about another $100/year to bump it from $100k to $500k limits.

    When you figure that as a % of what comp already costs, it's nothing really. Already got them a new certificate showing the new limits.

    God it's almost sickening thinking about what insurance cost per year when you ad all of them up. GL, Commercial Auto, Work Comp, Equipment coverage, Rental Equipment Coverage, Shop Insurance....:dizzy:
     
  5. AI Inc

    AI Inc LawnSite Fanatic
    Posts: 25,540

    Dont forget the big daddy of em all. Unemployment ins.
     
  6. Frue

    Frue LawnSite Bronze Member
    Posts: 1,472

    yes, there are some people who want comp rates at a million instead of 500k. and yes I do raise the amounts. 9 out of 10 guys do not carry the correct coverage so in knowing that you could keep the job longer. But if you are underinsured say only a 100k on your comp well the average comp is 500k. So you would gain no keeper of the job advantage.
     
  7. bohiaa

    bohiaa LawnSite Fanatic
    Posts: 5,220

    I know right.... the next time you hear of someone SCREWING an insurance company, Turn them in.

    That's YOUR MONEY MAN.......
     

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