Insurance! What I learned...

Discussion in 'Business Operations' started by teamoneoutdoors, Feb 9, 2007.

  1. teamoneoutdoors

    teamoneoutdoors LawnSite Member
    Messages: 73

    I evaluated my general liability and equipment coverage this week by comparing it with my currently underwriter vs Erie Insurance. Thanks to some of you guys who have spoken highly of Erie, I received a quote from them and have now opened a new policy with Erie resulting in a huge savings.

    One interesting point that I discovered is that under the former underwriter my premium was based on my payroll. If I underestimated my payroll receipts for the year, I would have to pay additional charges. If I overestimated, I would get a refund. Sounds like some other system If you are Reading my Sentence correctly. With Erie, the premium is based on the number of employees thus not penalizing me for wotking hard. Erie not only showed me a savings in the front end but saved me from paying more at the end.

    Check out Erie Insurance!
  2. lawn

    lawn LawnSite Senior Member
    Messages: 344

    Where is Erie Ins.located? any website?phone # please?
  3. teamoneoutdoors

    teamoneoutdoors LawnSite Member
    Messages: 73

  4. mattfromNY

    mattfromNY LawnSite Bronze Member
    Male, from Central NY
    Messages: 1,582

    I contacted Erie and was told I couldn't get a policy with them until I had been in business 5 years. Has anyone else run into this?
  5. lawn

    lawn LawnSite Senior Member
    Messages: 344

  6. cleancutccl

    cleancutccl LawnSite Senior Member
    Messages: 698

    personally I like paying work comp based on payroll, mainly because I have a few employees that only work part time doing shrub trimming and large landscape jobs. If I were to pay based on employees only I would be charged for a full time employee. You also want to check on what payroll they are basing their figures on, they are probably figuring year round work which you might not do. I guarantee you they are using some dollar figure to determine how much work comp on an employee. You might be getting a hell of a deal or you might be getting screwed. With payroll based you pay for what you use.
  7. abuckeye

    abuckeye LawnSite Member
    Messages: 93

    I bought a policy last spring. That was my first year in business. Though this year I have gotten quotes from 2 other underwriters and they both came in cheaper than Erie. Just FYI.

  8. ooo

    ooo LawnSite Member
    Messages: 235

  9. kc2006

    kc2006 LawnSite Silver Member
    Messages: 2,443

    I went with erie, cheapest I found (half of others) and I've been in business for 2 years only. They covered fert/herbicides too, alot of places wouldn't.
  10. Prestige-Lawncare

    Prestige-Lawncare LawnSite Senior Member
    Messages: 753

    And those companies were?

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