Ideas for Insurance

Discussion in 'Business Operations' started by precisioncut, Nov 24, 2003.

  1. precisioncut

    precisioncut LawnSite Senior Member
    Messages: 653

    Have another question about insurance. Where? Are there certain companies that offer the best or best priced? Should I contact my car and homeowner insurance agent? I would like some info before I dive into call everywhere and running around like a chicken with my head cut off:p
    If you carry insurance-PLEASE help me out
    Thank you for any replies:cool2:
  2. NCSULandscaper

    NCSULandscaper Banned
    Messages: 1,557

    The best prices i have found in my area are from Nationwide Insurance. I have all my insurance with them and will continue to have it. Liability/Equipment theft/truck/trailer insurance runs me about $1700 a year.
  3. Southpaw

    Southpaw LawnSite Member
    from Atlanta
    Messages: 88

    I'm not familiar with underwriting policies or which companies operate in Utah, but I can offer a little headstart.

    Before you do any work on another's property, you really need a comprehensive general liability policy or GL. At least $ 1 million per occurence limits of liability and an aggregate of $ 2 million. If you do any commercial work, a COI or certificate of insurance as proof will be one of the first things they will require from you before even letting you bid. Without this policy, you are inviting major financial disaster into your life and Murphy's law is always just around the corner.

    There are other policies that you may need to consider as well. Contents coverage for your equipment and storage facility will come in handy due to loss. If you suffer a loss due to fire, theft, or any other reason and have no back-up plan, a loss could put a person on a shoestring budget out of business.

    Inland Marine coverage may be something to look into as well.
    Work Comp laws vary from state to state. Most of the people that I have ever met consider this form of insurance to benefit the employee if injured on the job. However, it is actually a very good blanket of protection for the employer as well. Having this coverage may keep you from being sued in civil court for negligence.

    To wrap things up, try to find an independent dealer, not one that only sells one companies products. That way you can be given a choice of varying companies. Before you talk to an agent, please realize that they are similiar to mower dealers. Dealer support is just as important as the sale itself. You need to talk to several agents before deciding on one. Pick the one that you feel will answer your questions thoroughly and simply enough for lay persons to understand. Not knowing what your policy covers and what exclusion endorsements are attached could cost you money if you find out after the fact. That happened to a friend of mine last month when his house caught on fire. Hope this helps and good luck!

    P.S. If you would like specific information about companies, prices, deductibles, exclusions and riders, feel free to PM me for my email address. I'm not willing to go into specifics on the open forum for legal reasons.
  4. Team Gopher

    Team Gopher LawnSite Platinum Member
    from -
    Messages: 4,040

  5. Wells

    Wells LawnSite Member
    from SLC UT
    Messages: 0


    I was quoted between $500-$600 per year for a 1 million dollar liability policy this past year thru Bear River.

    I would imagine that Bear River has agents in the St. George area but if not i could provide you with the name & number of the guy I use here in Salt lake.
  6. lilred731

    lilred731 LawnSite Member
    Messages: 100

  7. precisioncut

    precisioncut LawnSite Senior Member
    Messages: 653

    I recently called a local agent for Farmers for an "idea" and for a 1 million dollar policy plus stuff like equipmentl loss and some other stuff was around $1200/yr=$120/month. But Wells, I'll look around here for Bear River, sounds like a great deal. If I don't find an agent I'll e-mail you for number. Thanks guys. All the info really helps.

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