Ohio Insurance question....

Discussion in 'Business Operations' started by RV_Landscaping, May 10, 2002.

  1. RV_Landscaping

    RV_Landscaping LawnSite Member
    Messages: 30

    Hopefully going to be buying a new (well first) truck in the next 2 weeks...A buddy of mine who is joining me in the business venture we're gonna split the truck price...basically....
    In Ohio (and everywhere else???) Insurance is required to drive...Does anyone know the *kind* of insurance? For instance...I know plain old liability (for mowers, the business in general) is much cheaper than--say, the insurance for my Honda Civic (which is like....around 1k a year now....since i'm only 18).... So is that enought to satisfy the ohio law(liability that includes the truck?)--or do we have to get so called 'drivers' insurance too? Not really worried about minor damage or something on the truck...looking at some old stuff to get us through the summer....Not spending more than 2500 or so :)

    Any help would be great....Ohio people...Thanks!

  2. Hawkeye5

    Hawkeye5 LawnSite Senior Member
    Messages: 295

    Hey Rob: I'm new to these forums, but insurance is something I know about as I have worked for insurance companies for 25 years and my current day job is with the Tennessee Dept. of Ins.
    Each state has Financial Responsibility Laws which outline the minimum limits of insurance for auto liability. I would suggest that you purchase a Private Passenger Auto policy (unless you title the vehicle in the company name). There are business use classifications. Your trailer will be included for liability, but you may wish to insure it for physical damage also. If you finance the purchase of the vehicle the lender will require Auto Physical Damage insurance to protect the collateral.
    I may as well warn you, at your age with business use the premium is going to be steep.
    Please consider limits higher than those required in Ohio and don't even consider going without. Too many things can happen.
    Find an Independent Agent with a good reputation and let them go to work for you, that is what they are paid for. JD
  3. RV_Landscaping

    RV_Landscaping LawnSite Member
    Messages: 30

    Ok....yeah, i'll see what I can find... I already have my own car insured (Civic) so I know how much it is....We're buying an old Used truck...and a used trailer... I really don't know if the physical insurance is worth it.,..Considering it'll proly cost us over 1/2 as much to insure as to buy the thing....And its just temporary...Until the end of summer when we hope to get a new truck so we can plow... But I've been looking into different companies/gonna get quotes...I'm just wondering because in all the insurance questions/posts it seems like there are a bunch of people who have liability and some sort of insurance for like....$300-600....and they are under 20.... Thats like, 1/3 of my private car insurance...heh....so just wondering....
  4. Hawkeye5

    Hawkeye5 LawnSite Senior Member
    Messages: 295

    The ones your age that are paying 1/3 of what you are may just be listed as occasional operators of the vehicle on Daddy's policy.
    There are hundreds of insurance companies selling auto insurance and some are not too tight on checking who is driving what, when. JD
  5. LawnLad

    LawnLad LawnSite Senior Member
    Messages: 738

    RV -

    Not an attorney or insurance guy - but I would find an agent that will set you up with a commercial policy. A personal policy may not cover commercial work in your truck. Will anyone else be driving it than you? If you're partner is half owner, who's name will be on the policy? Are you a corporation? Or Sole Proprietorship?

    Try these agents:
    Botson Insurance Agency (Avon): 440-934-1603
    Insurance & Financial Services (Solon): 440-349-3670
    Griffith Insurance Agency (Chagrin Falls): 440-247-3054
  6. RV_Landscaping

    RV_Landscaping LawnSite Member
    Messages: 30

    We're not doing partnership.... The policy will proly be in my name...because my buddy isn't 18 yet (we figure that'll save us *some* money--if he doesn't drive, heh)... So, i guess i'll need the liability for both of us....truck/trailer just for myself....I'll check those places....Thanks!
  7. LawnLad

    LawnLad LawnSite Senior Member
    Messages: 738

    If you're partner is going to be driving the vehicle, you'll seriously want to consider a commercial policy, as it will allow most anyone to drive your truck, where a personal policy will limit drivers - particularly non family members.

    It sounds like you should buy the truck - and not have a partner in this regard. If you need the money, borrow it, but don't share, particularly for $2500 bucks. You're asking for problems down the road with the type of arrangement.
  8. RV_Landscaping

    RV_Landscaping LawnSite Member
    Messages: 30

    yeah...well I'd prefer to do it alone...but I have another job(so with 10-15--which is what we're gonna end up with to start...i need help) ....and he has some part-time customers he's bringing in...As well as a good chunk of cash to get us started so...

    and between us we've got everything but a truck now....Trimmers, small mowers, blowers, etc. ...and a 48" scag So....but I'll check into that stuff...and the insurance and all...thanks for the help!

  9. Hawkeye5

    Hawkeye5 LawnSite Senior Member
    Messages: 295

    Actually most (not all-mostly non-standard companies) allow three types of drivers on the personal auto policy: The named insured and resident relatives, permissive users, and legally responsible entities. As long as your partner has permission to operate the vehicle and does not exceed the scope of that permission he will be covered also. JD
  10. thelandscaper27

    thelandscaper27 LawnSite Member
    Messages: 38

    hi fellas,

    I was checking out policies this year also. the only thing I can say is call the INDEPENDANT Insurance Companies. They work for various companies and I'm sure you'll get a cheaper rate also.

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