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Discussion in 'Business Operations' started by Cashmonysonny, Mar 16, 2002.
What is an Inland marine policy
If you are 17 could you get insurance under your parents name. Could you also do this for a lisence or should one just wait until they are 18. I have seen kids my age on this site with what seem to be legit LCO's and I wonder how they do it?
Inland Marine is the attachment for G/L insurance that covers the equipment.
until you are 18 years old your parents are liable for you. if a rock flyes out from ur mower and breaks a window your parents are liable. once you turn 18 its different, then you are liable.
now my question, i recently turned 18 and this upcoming season i want to "legalize" my business. what all do i need to do? i have no clue. how do i get insurance? how much should i get? what will i be paying per month? or do u pay ever 6 months? i have no clue.
In Atlanta, first quote $1300, found 1 million lib. policy for $800 and took it.
65Hoss, does inland cover your vehicle too? I assume it covers the trailer, but I imagine the vehicle would still fall under the auto insurance???
khutch, who did you go through if you don't mind me asking?
Here in NJ, trucks and trailers are a separate policy from inland marine...and much more money as well.
Inland Marine will cover what is called "contractors equipment"..mowers, handhelds, hand tools, etc...also will cover you if you "borrow" someones tool and it gets stolen.
The trailer is not covered by IM. Your commerical auto policy needs to list the trailer just like the vehicles. If its not listed on the dec page for comp. coll and liability, you have no coverage if it breaks loose, gets damaged, and or injures someone, or damges their property or vehicle
Suggest you call an indepedent insurance agent in your town...he/she will advise you of exaclty what coverages you need for your biz operations.
I saw what a runaway trailer can do when it breaks loose in traffic...it was not a pretty picture. (wasn't mine knock on wood)
Thanks guys, I didn't come back to this thread so I didn't see the question.
They are correct, the Inland Marine doesn't cover your vehicle. Its an attachment that covers your equipment. Like GarPa said, others equipment in your control also.