question on insurance???

Discussion in 'Business Operations' started by greenback, Jan 14, 2004.

  1. greenback

    greenback LawnSite Member
    from L.I.
    Messages: 175

    i was quoted 4800 a year for $1 million coverage. did not get into the details of what it covers but do you think this is good. it was the lowest i was quoted so far.
  2. PSUturf

    PSUturf LawnSite Senior Member
    Messages: 663

    What type of work is it covering? Do you have employees?
    I pay about $1400 for $1 million per incident and $2 million agregate for general liability. I have no employees. It also covers my trailer, a couple of mowers, and other tools.
  3. rodfather

    rodfather LawnSite Fanatic
    Messages: 9,501

    First of all, how is your business classified? Lawn maintenance, landscaping, what? It's a huge difference to your agent and really makes a big difference when getting quotes for WC rates as well.

    And by the way, what is the $4800 premium covering? Does it include inland marine coverage for yoiur equipment, liability only, etc.?
  4. DJL

    DJL LawnSite Member
    Messages: 237

    Sorry is this seems harsh, but...

    you can't ask a question like "is this a good price" if you don't supply the details. Is this quote for GL, WC, Comm. Auto, etc.? Do you have riders that go along with any of them? What are your deductibles? Do you have just liability or comp. to go along with the liability? If you have comp. on equipment being stolen what is the replacement value of the equipment? These are just SOME of the questions.
  5. tawilson1152

    tawilson1152 LawnSite Member
    Messages: 55

    Yeah, need more info, but like your avatar. Is that you?
  6. rodfather

    rodfather LawnSite Fanatic
    Messages: 9,501

    If it is, I will personally drive from NJ to LI and assist in any way I can...LOL
  7. greenback

    greenback LawnSite Member
    from L.I.
    Messages: 175

    well first of all my post is messed up, it is suppose to be $800 a year, sorry. if that pic was me i would not be a landscaper, i would be flashin them left and right...:D it is only me and one other guy, we are getting it to cover a commercial account, i just asked the insurance guy the price for a million dollar coverage for commercial landscapers. like i said i did not get into detail but is that a good start off price. if i want extrat coverage on stuff how much will it go up. ( those **** are basically perfect:D )
  8. TreffertLawnWrx

    TreffertLawnWrx LawnSite Senior Member
    Messages: 277

    I pay 720.00 a year for 1 million liability and $15k worth of inland marine (eqpt) coverage. This is a landscaper policy which also covers me for plowing snow. This is thru State Farm. I am cool.
  9. dougaustreim

    dougaustreim LawnSite Senior Member
    Messages: 488

    We keep getting these questions on insurance rates. Different types of work are at different rates for WC and GL usually based on payroll. There are many many variables that determine a total cost of insurance. I pay over $24,000 per year and I think I get a great deal. I expect that I pay a lot less than many of those responding to these posts. These insurance questions are a lot like asking what did you pay for your truck? Was it a 1973 1/2 ton or a 2004 2.5 ton Diesel.
    Doug Austreim

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