Liability Business Insurance

[John Ellison]

I have a 300,000 com. liability policy for 800+ a year with 500 ded. It covers myself, the guy that hauls my logs and my mules. The first three outfits that I talked to said "mules" sorry but we dont have a listing for that, can't help you.

John

 

[Koa Man]

When Bank of Hawaii, whom I used to trim the coconut trees for, reorganized and hired a management company to handle all vendor contracts, they upped the liability ins. requirement from $1M to $2M. I dropped the contract. Apparently so did a lot of other vendors because I got a letter stating that due to the "difficulty" of small companies obtaining $2M in coverage, they were dropping the requirement to $1M. I still did not renew my contract with them, I had already filled their slot with other work.

 

[alott]

INSURANCE

WE HAVE 500,000 POLICY WITH 2.500.00 DEDUCTABLE . WANTED 1,000,000. POLICY BUT PRICES HERE IN NY ARE WAY OUT THERE .
ONLY WANTED THE MILLION POLICY BECAUSE ALL HEAVY EQUIPMENT RENTAL COMPANYS AROUND HERE REQUIRED IT AS WE ALSO DO SOME LANDCLEARING JOBS.

 

[Dadatwins]

Thanks for ideas, I am finally getting some quotes from some companies $1100.00 for million liability and 15k in equipment best so far trying to lower liability to start and I will add more later if I need it. I will post final hopefully soon

 

[Lumberjack]

Re: INSURANCE

Originally posted by alott
WE HAVE 500,000 POLICY WITH 2.500.00 DEDUCTABLE . WANTED 1,000,000. POLICY BUT PRICES HERE IN NY ARE WAY OUT THERE .
ONLY WANTED THE MILLION POLICY BECAUSE ALL HEAVY EQUIPMENT RENTAL COMPANYS AROUND HERE REQUIRED IT AS WE ALSO DO SOME LANDCLEARING JOBS.

Posting in all caps is considered yelling... Not bustin your balls, or being forum police, just tryin to inform, and get 10 more post in tonight.

 

[Curtis James]

This is why I come to this sight .I want my own buisness in about a year and a half and I have been pondering insurance costs and all alot lately.This sight rocks. That is allot of money I have to come up with aye. Thanks all.

 

[blackwaterguide]

insurance

I had a contruction company for near 20 years. 3 million general liability was 1500.00/annual. Workers comp was of course on overall gross/percentage.
We liked to do some logging in winter months when const. was slow. Could not find insurer to cover JD540b skidder or any genraal liability.
When finally down to buying timber on the stump only a few even asked about liability ins.. Straight up told them it was unattainable. I'm not positive, but I don't think we lost a bid due to insurance scamastics.
I have'nt even checked tree service gen lia since I've moved back to the city. Just work comp.

 

[NeTree]

That's the problem with some people. They are so concerned with going with the lower bid, they'll go with the guy with no insurance who, of course, can do the job cheaper.

 

[alott]

cap locks

Sorry for the caps lock. cost of ins is crazy though necesary evil

 

[Dadatwins]

Finally found insurance company to write policy. Thanks Daniel for info. Question now is agent wants to list all my $$$ equipment by serial # to cover in case of theft. Stump machine OK bought that new. Problem is I have a quite a few chainsaws that I have bought as parts from ebay, yard sales that I put together and use. Never thought about history of unit, since they were parts but am now wondering if these serial # come up as stolen Mostly all newer Stihl units. Anyone know of a way to check or any thoughts about this.
Thanks for any input.

 

[NeTree]

If you have a bill of sale from the seller, then you're covered as far as recieveing stolen property goes.

 

[Toddppm]

Man you guys are getting some good deals! I've got Hartford for Liability and Equitp. and paying around $3400!

Dadatwins, I can't believe they are making you get tree ins. for grinding? I don't know if landscaping ins.is any cheaper but that doesn't make any sense.

 

[Stumper]

Dada, You have the option of waiving equipment coverage-it saves $$. As Eric said-bills-of-sale cover you if anything is stolen property-in all probability that will never be checked unless someone steals them from you.

 

[OutOnaLimb]

My wife works for the biggest Insurance carrier in the world, Zurich North America. They pretty much own all of the little guys like Farmers, American causality, and State Farm. If your looking for a little bit better cut, give us a buzz. Hartford is independantly owned however. Sorry, cant deal with them.

Kenn:Monkey:

 

[Dadatwins]

Finally signed off on policy today, 1 million general liabilty, 15K equipment coverage, additional coverage to cover property damage up to 5K per incident that does not go against primary policy and cover 5K of tools relating to job if stolen. Serial # on saws was non - issue after sitting with agent. Took some pictures of them and listed in policy.
Total annual $576.00
Policy is written as a landscape policy that covers stump gringing, replanting of trees, mulching. Does not cover tree removal or pruning. But I am starting to lean more towards replanting of ground out stumps since the hole is already there. Feels good to know if something ever did go wrong, hopefully not, my a$$ would be covered. If anyone interested in ins. company PM me and I will give info. Company is in Penn.

 

[Stumper]

In the end you got it-and plenty cheap relatively speaking.