Business closing; equipment for sale

[ozy365]

Insurance SNAFU (paperwork, not trees) is running us out of business. Would like to sell all of the equipment so someone else can make an insurance company some money. Here is a rough list:

1999 chevy 2500 163,000miles

Vermeer 625 chipper autiofeed with 6" capacity, extra belts and blades

GRCS with aluminum bollard

Stihl 460 with 25 inch bar

20 foot dual axle trailer

All of the soft goods and biner you could want

Zuibat hand and pole saw etc

Bigshot

Large Porta Wrap

$12,000. DeRuyter New York. All of the info is posted in the Tradin Post with some pics. This post is to discuss why you need to know your insurer. After 3 years of talking to our company, they realized they needed to double our bill for no claims the whole time. Kinda late in the season to come up with: a pay immediately bill. Ask me your insurance questions and look at some good equipment. Lots of education available to buyer of equipment. Business in a box.:jawdrop: Items just posted today, so they have not been approved yet. Please keep checking. PM and I'll send you to our websites for more photos.


Todd

 

[deevo]

How far are you from the Niagara Falls border? can you e-mail me some pictures and more info please? [email protected] Thanks

 

[dontbasap]

ins maggots

OZY... got cancelled today myself for non-payment. Funny thing is I pay for the year in full. The peaks and valleys in this biz dictates. I don't know what exactly is going to break or when, etc. The agent confirmed it had been paid in full. Good thru 08. They cancelled anyway. Go figure. Oh yeah, no claims in the last 13 years.

 

[cntrybo2]

confused...so your paid through 08 and your still dropped or they corrected the error and you still have insurance?

 

[Ekka]

Can some-one please explain in plain English WTF is going here.

How can you be run out of business? What is SNAFU?

Or have you done something bad azz and getting pissed off?

 

[ozy365]

Partnership

Broker has been telling insurere sole proprietor

Insurer audited...all public info says partnership

Insurer wants all the money they would have gotten all these years for partner....now.

I am 3 hours from niagra falls. There are pics in trading post section.

 

[wally1405]

Snafu

Situation Normal All F*****d Up-Mdad explained it to me as an Army acronym from WW2

 

[Husky137]

If your broker knowingly falsified the insurance application then they are on the hook for the premiums. Go after your broker's error and ommissions coverage. If he did something illegal you should also report him to the state insurance commission. I would think that curling up in a ball and bailing out is the last resort if you are truly committed to the profession. Just as important to know your rights as a consumer as it is to know your insurance agent.

 

[hornett22]

agreed!

you may also want to contact your state's attorney general.

 

[OLD CHIPMONK]

Don't give up ! Try Premium Finance Specialists ! Your insurance agent should have advised you ! Small down payment plus afforadble monthly payments. Your premiums my have risen due to others having accidents or based on your increasing yearly business income ! Whatever the case, if you enjoy tree work & the outdoors then give it cosideration. It's hard working for someone else !

 

[ozy365]

Thanks guys

Yeah, we are totally going after the agent. They are helping to sort out now because they have admitted errors. Mistakes made, but it is coming at a lousey time.

I think it is getting to be time to get out of the business anyway...this kinda sped things along. We have tried to do things right. We are in a small market and some guys have less overhead; burrowed equipment, no insurance, the usual complaints issued from those of us worn out by lack of such advantages.

Read your policies folks. Complain about every detail and stick to it. Email everthing and keep copies of everthing you sign. Keep a log of phone calls with names and dates. But mostly, keep double tying in.:monkey:

 

[Justice]

Sorry to hear about your situation.

The problem is usually the agent. They under report earnings, change things like partnership, under report values on purpose so they can show you what looks like a low premium. It is a scam to get yo on as a client.

The Ins. Co. then audits and they send you a bill for the balance. The agent knows how it works, so they are responsible. They usually blame the Ins Co. and they happily take you money.. which they still get a commission on.

Ask what the RATE is on everything. There is a rate on everything; workman's comp, General Liability, property, Inland Marine. Compare rates... not the premium number an agent puts in front of you. Ask them to show you the rates of your last policy and the new one.
If you rates are much cheaper they have probably misclassified you.

Agents are famous for blaming the Companies. Together they generally S__K. There are some good agents out there and they will happily explain all of this to you.

Here in NJ it is the Department of Banking and Insurance. There are HUGE fines and loss of license of Brokers and Agents who violate laws so let them know you are not going away, and call the state. It is in the best interest of the Broker (your agents employer) to get things right.

GOOD LUCK!

 

[ozy365]

Thanks Justice. we're hanging in. Good advice on the Insurance.