Insurance, State Farm?

Discussion in 'Business Operations' started by Rons Rightway Lawncare, Nov 27, 2006.

  1. Rons Rightway Lawncare

    Rons Rightway Lawncare LawnSite Bronze Member
    Messages: 1,164

    I will admit and be ready for the shame I am sure will come my way, but I have not had insurance in several years.... Just didn't see the need for it.

    Last time I had it was about 6 or 7 years ago and I had what I think was 250-500 thousand in liability and then I had maybe 13-15 grand in tools and equipment coverage. I have always worked by myself for the most part so the rates for me are probably on the low side. Last time I had coverage on all this I think I paid maybe 500-600$ for all of it, through a local insurance broker, not sure who the underwriter was.

    I decided I should be insured again since you just never know and asked my statefarm insurance agent for a quote. It came back pretty high... between 1900-2100$ per year depending on my deductable.

    Is this a typical rate for now a days? Just seems really high to me and I want to get coverage, but at that price I have a hard time being excited about it.
  2. MudslinginFX4

    MudslinginFX4 LawnSite Bronze Member
    Messages: 1,170

    My insurance is through State Farm. When I changed companies last year.. my rates almost were cut in half. I was with Nationwide, now with State Farm. I have been happy so far. I can't remember my rates, but they will be higher then yours. I have 2mil Liability etc..
  3. RockSet N' Grade

    RockSet N' Grade LawnSite Silver Member
    Messages: 2,454

    Insurance companies are a pretty interesting animal. I had my house/ranch, autos, trucks, equipment with State Farm for years and never shopped them. I will say, they sent me a Christmas card every year. One day, I started shopping and found 4 other companies and they were all 1/2 or better of what State Farm was.....for the same coverage. I made sure I was comparing apples to apples so it was a fair comparison. Needless to say, I will not be receiving a Christmas card from State Farm this year.....I switched. It may be a regional thing with companies, I don't know, but for a few phone your due diligence and get the best rates/coverage for your money.
  4. abuckeye

    abuckeye LawnSite Member
    Messages: 93

    I am also a solo operation. My insurance is through Erie and I pay $1,051.00 for 1 mil liability and a 1 mil umbrella, this also includes about 8k in equipment.
    I had State Farm quote me when I was shopping because they have my personal policies. They were much higher than the other quotes I got. They also would not let me trim trees and there was something else they would not let me do that was common, but I can't remember what it was. Hope that helps.
  5. dcondon

    dcondon LawnSite Silver Member
    Messages: 2,246

    We just changed our personal insurance because we was getting ripped off from State Farm. I will never do business with them again!!!!!!
  6. d&rlawncare

    d&rlawncare LawnSite Senior Member
    Messages: 741

    My home owners is through state farm. I watched this special the other night on the Katrina victims that had state farm. There were some flood damage issues on there homes but obvious wind damage as well. State farm has yet to pay a dime to all these people.
  7. dcondon

    dcondon LawnSite Silver Member
    Messages: 2,246

    That sounds about right. Plus every month you get a different price. screw that!!
  8. procut

    procut LawnSite Bronze Member
    Messages: 1,852

    State Farm is famous for being high.

    I find it strange that some of you have your G.L. through State Farm. After a squabble with my current ins. agency this summer I went shopping. When I inquired at State Farm, the agent told me that state farm will no longer touch any lawn/landscape related business. When I asked why, he said they had to pay some big excavating claims in Illinois, and the second I stick a shovel in the ground, I fall into this catagory, therefore, he couldn't even give me a quote.
  9. Josh.S

    Josh.S LawnSite Bronze Member
    Messages: 1,085

    My insurance is through a local broker of Erie, it cost about $400 for $1m liability and $13,000 ACV for equipment...
  10. VO Landscape Design

    VO Landscape Design LawnSite Senior Member
    Male, from Mt. Pleasant Ia.
    Messages: 365

    Same here ProCut. They said they don't insure that type of business. Might be something regional.:confused:

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