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Insurance Cost- out of control raise in prices?

Discussion in 'Lawn Mowing' started by Barringtonbro's, Feb 1, 2002.

  1. tranum

    tranum LawnSite Member
    Messages: 86

    1 mil in general liability costs about $350.00 with alfa. no complaints on that but my equip coverage (fire, theft, etc.)is $3.00 per hundred dollars (does not include vehicles). that sounds kinda high to me. premium is due the 12th of this month. i'm thinking i need to shop a little.

    also, some of you that have your applicators license, what kind ($) of coverage do you carry, and what does it cost? is it seperate or included on your liability policy? i need help on this one quick!!!!
  2. lamblawnscaping

    lamblawnscaping LawnSite Member
    Messages: 165

    in va general liability is ok for applicators, no special endorsement, however it won't cover pollution claims, i.e. someone being poisoned
  3. landman

    landman LawnSite Member
    from NJ
    Messages: 110

    Just a quick thought. My insurance agent just advised me that the government just allowed insurance companies across the country to raise prices across the board about 15% due to the 9-11 incident. He is going to look into this and let me know if this a definate thing.
  4. HBFOXJr

    HBFOXJr LawnSite Bronze Member
    Messages: 1,712

    Hey guys, why do you think I put general liability ins in as a labor expense? IT's PAYROLL RELATED! It's a percentage of payroll. It's a direct add on.

    Oh, you don't have a payroll because your solo, have brother partners or whatever? I have news for you guys. Even with no payroll they use "an assumed earnings minimum" (not an official term) to rate your policy. Here in NJ I think they use about $32K. So if a solo pays $300 +/- for a mil and 2 or 3 "partners" pay a grand it all adds up. It's all about exposure to risk. The more people working in the fioeld the more risk for the insurer.

    Ain't no free rides, guys.

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