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Insurance premium sky rockets

Discussion in 'Business Operations' started by grass_cuttin_fool, Jan 6, 2005.

  1. grass_cuttin_fool

    grass_cuttin_fool LawnSite Gold Member
    Messages: 3,526

    I recieved the renewal on my Erie Ins policy today for my buisness and when I opened it I said #*{){@. Get ready guys if you havent recieved yours yet mine is up some where around 18% over last years price and I have not had a claim in the 2 years Ive had the policy. On a kinda sorta funny note, on the front page things that arent covered by the policy, tidal waves, they didnt wait long to get that clause in it
  2. i_plant_art

    i_plant_art LawnSite Senior Member
    Messages: 558

    i was quite surprised to see mine as well when it came this year it was higher than 18% so high in fact that i changed carriers to keep my rate down closer to where it has been. im the same way no claims for 3 yrs then all of the sudden BAM a huge increase, i guess now we have to shop insurance prices every year as well huh.
  3. splatz100

    splatz100 LawnSite Senior Member
    Messages: 647

    if you guys dont mind how much were yall paying??

    HOOLIE LawnSite Gold Member
    Messages: 3,981

    I haven't got my renewal yet, I guess I'll be looking forward to it...LOL
  5. Soupy

    Soupy LawnSite Gold Member
    Messages: 3,125

    I have not gotten mine either. Do you have Commercial Auto with them too? If so, Did that go up as well?
  6. mdvaden

    mdvaden LawnSite Bronze Member
    Messages: 1,946

    Get more quotes. Some companies play the numbers. Raise their rates knowing the higher revenue will exceed who they loose.

    18% is too high.

    I always go shopping when an increase greater than 10% happens in one increment.

    My insurance did not go up last year, but my agent was able to raise my coverage by $200,000 for the same price.

    Doubt I'll see a hike next year.
  7. out4now

    out4now LawnSite Bronze Member
    from AZ
    Messages: 1,796

    Do any of you use a broker?
  8. rodfather

    rodfather LawnSite Fanatic
    Messages: 9,501

    I do and it's the best thing you can do too.

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