Shop your insurance

Discussion in 'Business Operations' started by LwnmwrMan22, Feb 13, 2006.

  1. LwnmwrMan22

    LwnmwrMan22 LawnSite Platinum Member
    Messages: 4,373

    I know alot of everyone here knows this deal already, but for some of the kids (which probably don't read this part of the forum anyways) or others that get just get into this business.....

    Check with a different agent with your insurance from time to time, or at least use one that's got ties with multiple companies.

    I see alot of guys that just use Allstate, or State Farm, or the other national companies that you see names all over.

    At one point I was paying over $10k in insurance for 2 trucks (2003 / 2005 Dodge 2500), 3 trailers, equipment, $4M liability coverage, work comp.

    I now have it down to just over $5k / year for the same coverages.

    Last year I had it down to $8k, and my agent, who deals with 35 different companies, called me up and said that there's a company looking for commercial accounts, so he got me on board for $51xx / year.

    We're always looking for ways to cut expenses, so I just thought I'd pop this back to the top of the list if it's been posted before.

    Shop that insurance around.
  2. Green-Pro

    Green-Pro LawnSite Bronze Member
    Messages: 1,420

    Good point, I'd even venture to say take this practice farther and investigate/shop pretty much all overhead costs associated with your company on an annual basis.
  3. echovalley

    echovalley LawnSite Member
    from CT
    Messages: 91

    I will 2nd that one.We were paying about 12k a year,3 new trucks,WC,GL,Umbrella snow policy.Now we are paying about $6500 for the same coverage[actually a little more]If anybody is in CT and interested PM me and I'll give you there #
  4. POPO4995

    POPO4995 LawnSite Bronze Member
    Messages: 1,208

    I just started doing some insurance shopping today.....never hurts to get another quote.:waving:
  5. RedWingsDet

    RedWingsDet LawnSite Gold Member
    from Detroit
    Messages: 3,556

    I pay $2,400 for my truck each year, and $1,600 for the co. including $1mil liability. Not too bad, but it hurts when ya dont have it! lol

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