Why the drastic price change??

I have been calling around the past couple weeks on quotes for $500,000 general liability and an inland marine policy for about 20K worth of equipment. The quotes for the equipment were what I think is fair at around $400 yr. The liability insurance is around $1000-1200 a year for my 1.5 man lawn business. I've been reading on here and noticed most people are paying around $400 for a 500K policy. Why would there be such a price difference?? Does location matter??

 

what is a "1.5 man" business. Someone only have legs?

 

yeah you should see him on the trimmer 1.5 man would equal 1 full time and 1 part time........I just got lazy sorry for the confusion.

 

Beats the heck out of me. I have a mil for $325 per year.

 

for my product and liability ($1 mil) I only pay about $1,300.00

 

1. do you have a track record?
2. have you been insured before?
3. what's your credit rating like?
4. if previously insured, have any claims?
5. you have an employee, do those paying less work solo? I do and pay about $600 for $2 million
6. Location. Some areas are worse than others, based on having crazy juries giving out large awards, high numbers of trial attorneys, and other factors.

These are some of the factors they may consider.

 

I paid five hundred for 1mil.

 

i pay $125. per year for 300,000 liability and $187. for a $15000 inland marine policy. farm bureau n.c. clay

 

I paid $758 last year for:

500,000/1,000,000 liability
20,000 equipment new cost replacement w/ 500 deductible

State Farm

 

1. do you have a track record?
2. have you been insured before?
3. what's your credit rating like?
4. if previously insured, have any claims?
5. you have an employee, do those paying less work solo? I do and pay about $600 for $2 million
6. Location. Some areas are worse than others, based on having crazy juries giving out large awards, high numbers of trial attorneys, and other factors.



1. Been in business part time for 4 years and full time the past 2.
2. Haven't had any type of liability before.
3. Credit is excellent.
4. Nope
5. Not sure on that one. My part time person would probably only work 10-15 hours a week.