liability / theft insurance coverage costs?

Discussion in 'Business Operations' started by RonR, Jun 13, 2003.

  1. RonR

    RonR LawnSite Member
    from Kansas
    Messages: 4

    Just joined this site--looks like a great group. It was recommended at TBN.

    I'm wanting to start a lawn care type business, and when I called my insurance company, they quoted $1200 a yr for coverage. I didn't even ask about commercial coverage on my current truck.

    That might be the deal breaker. What are you guys paying for liability and theft coverage. Plan to use only family as employees, so hopefully don't have to do workmen's comp and health benefits.

    Thanks for any replies. (Yes, I did a search of archives, and didn't see much on quotes.)
  2. Rustic Goat

    Rustic Goat LawnSite Bronze Member
    Messages: 1,194

    Vehicle insurance can be a separate policy, full coverage 'utility vehicle' insurance shouldn't run much more that your private vehicle coverage, depending on your record of course. Mine increased by $60/annually.

    Liability can be $400 to $600/annual, depending on total amount of coverage you pick.

    Depending on your area, (crime wise, and how well you're going to be able to lock things up) and how far out you're stretching your neck, you could be 'self insured' for your actual equipment.

    Best bet, before purchasing insurance is to do some shopping, just be sure to write quotes and stipulations down, they vary by a bunch from company to company. Ask all agents the same questions, compare answers.

    It's also possible to get snubbed by many companies now, they're shying away from liability policies unless you already have coverage with them.
    Last year I paid under $400, this year, same company wanted $1100. Went to company that handles all my other insurance, paid under $500.

    Hope this helps
  3. promower

    promower LawnSite Bronze Member
    Messages: 1,233

    I pay $330 a year. Talk to some more ins. companies that sounds like a rip off.
  4. Advanced Lawncare

    Advanced Lawncare LawnSite Member
    Messages: 76

    I between 350 - 400 for 1 million per and 2 million agg. This also has 5k medical and 5k misc equipment - no spraying chemicals
  5. IndyPropertyCare

    IndyPropertyCare LawnSite Member
    Messages: 201

    OK, those of you paying under that annual or semi-annual ? Oh ya, what is the name of the insurance company ?
  6. Advanced Lawncare

    Advanced Lawncare LawnSite Member
    Messages: 76

    I am with American Family, but there are others in the same price range.
  7. drobson

    drobson LawnSite Member
    Messages: 237

    Anyone looking for insurance quotes should do a search for the "MANY" other threads on this subject. You will see that the insurance rates vary greatly depending on your location. For someone that pays $400 to think that somone else that pays $1500 is getting ripped off, needs to factor the location into this.

    In my area you cannot get Liability insurance for under $1200, that is bottom. Most places want over $2000. And that does not cover pesticides or excavation.

    I pay $1250 to cover myself and one employee for $300K with $10K equipment coverage. No pesticides, No excavation, No tree work over 25'.

    Nuff said, all this information and much more is available in threads from less than a month or 2 ago.

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