how much insurance for commerical accounts?

Discussion in 'Business Operations' started by SouthernYankee, Jul 15, 2005.

  1. SouthernYankee

    SouthernYankee LawnSite Senior Member
    Messages: 789

    I am going to make some bids on some large commerical accounts next week and I was wondering how much everyone carries for liability ? I think some other people said that they carry about 2 million, but I am not sure. thanks
  2. Mudmower

    Mudmower LawnSite Member
    Messages: 102

    I carry 1 Mil/2 Mil. One Million stated with a two million aggregate. This means that they will cover up to One million per occurence or Two million on more than one claim.

    Best explenation is an incident with multiple claims. They will only be liable for 1 million. If during the time it takes to settle, you have another incident, the most they will cover all total is 2 million.

    Very crude explanation, hope this helps.

  3. Tharrell

    Tharrell LawnSite Silver Member
    Messages: 2,967

    I have 1 mil/2 mil also but I don't have anyone who requires that much. I do a chain of convenience stores and they require 500k. I also do some weigh stations for the state and they require 800k. I've been told that property management companies like Trammel Crow do require 2 mil. Don't sweat it. The difference for me between 100k and 1 mil is only about $25 a year. Might as well get the most you can.
  4. cleancutccl

    cleancutccl LawnSite Senior Member
    Messages: 698

    I carry 1 mil, and still have not had any commercial properties ask to see insurance papers. I know of just a few places that require more than 1 mil and that would be target for one, they require 2 mil.
  5. procut

    procut LawnSite Bronze Member
    Messages: 1,852

    I carry 1 million/2 million also. I have only one account that requires that much. The same account also requires 1 million liability on your vehicles as well.
  6. sildoc

    sildoc LawnSite Silver Member
    Messages: 2,925

    I had 1mil 2 agg for the last 2 years untill I picked up a motel 6 this spring. They required 2 mil which gets you 4 agg. total cost was 48 bucks a year more and was passed on to that particular account. Since I have had the 2 mill liability It has put me the winner of a couple of other larger commercial accounts. All I can say is that the 48 extra bucks was worth it.
  7. naturescaretaker

    naturescaretaker LawnSite Senior Member
    Messages: 854

    2 Million / 5 million agg.

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