Ammount of insurance coverage

Discussion in 'Business Operations' started by bommaritro, Jan 30, 2003.

  1. rodfather

    rodfather LawnSite Fanatic
    Messages: 9,501

    4M:dizzy: :dizzy: :dizzy:...where will you be working, Fort Knox?

    We carry 2M and that is quite sufficient. If it's worth it to you, shop around. Maybe 4M isn't double what 2M would be. I would first question your prospective client why such a high number for insurance...4M is not normal for our industry.
  2. tiedeman

    tiedeman LawnSite Fanatic
    from earth
    Messages: 8,745

    I have $1 million coverage. If you want anything higher its called umbrella insurance. That covers from $1 million and up
  3. wriken

    wriken LawnSite Silver Member
    Messages: 2,154

    I have $1 million coverage on truck and liabilty, I just did some shopping around and got it lower, got a quote from a insurance competitor, so mine lowered my premium 25% cheaper, should have compared a year ago. LOL. there must be some leeway there.
  4. tiedeman

    tiedeman LawnSite Fanatic
    from earth
    Messages: 8,745

    Where do you go for yours? I have been around to about 2 dozen in the area before I finally found one that coveraged me for lawn care and snow removal. I still think that they price is high. I went to Schofield in Farwell.
  5. GarPA

    GarPA LawnSite Silver Member
    from PA
    Messages: 2,585

    Rodfather and others are dead right...4 million is absurd...1 million is plenty. I spent a couple of decades in the insurance biz so I know from where I speak.

    Keep something else in mind, the more insurance you have, the more likely it will be that an attorney will "milk the cow" if there is an accident. Most will not get excited about you having the average 1 million limit...and most things that could happen will be covered by that limit. THe higher your limits, the more likely the injured party's attorney will try to hit the home run....I have seen it first hand time and again. I carry 1 mil with an umbrella on top of that for another million...ask your agent how umbrellas work...I dont want to go into that here...they are not expensive....tell your prospect to pound sand...4 mil is ridiculous for them to ask for

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