Insurance questions

[Mark Currie]

I'm sorry if this has been beat to death in previous threads, but I searched through and couldn't find exactly what I was looking for.

I'm looking at getting insurance for the upcoming year and was wondering what exactly am I looking for? I mean, as far as liability, personal injury, property damage, etc.

There are two of us involved with the company, we're doing removals and prunes and we have no property or equipment (outside of personal climbing gear, chainsaws and truck/trailer combo).

I've read alot about how insurance companies don't like to insure new arborist companies, but a friend of mine is a broker here in town and said to come see him. I mentioned that and he said that it'd be no problem, but he could have just been talking out of his ass for all I know.

Anyway, if anyone has any info (premium amounts, coverage amounts, what to get covered for, etc.) to share, I'd greatly appreciate it. Especially any Canadian information, but any information at all would be a great help.

Thanks.

Mark

 

[(WLL)]

here in america money talks. you can buy insurance for anything but ya just cant use it on nothing. eather way you still need it.

 

[Mikecutstrees]

I have a 1 million dollar policy. 500,000 per occurance. Which means if I destroy two $500,000 houses I'm covered but if I destroy a $750,000 dollar house I'm screwed. Basically get way more coverage then you think you need to cover all possibilities. I have never made a claim though. Our monthly payment is $215 and we had to pay $800 upfront. Large equipment is under it's own policy. My chipper is covered under it's own which costs $250 a year and it cost $16,000. Of course my dump truck is covered under its own policy as well. Saws and stuff I don't believe get covered since they are small items. If you are a LLC (limited liability corporation) you don't need as much insurance but it costs alot to become a LLC. I also have workers comp on my employee which works out to about 25-30% in addition to an employees pay that the employer has to pay. But you don't need workers comp on yourself (Owner). Hope this all helps. I'm sure you knew some of it. I'm in New york state. Ohh and I have been doing tree work professionally 5 years. Rates are lower the loger you have been working in general. And I have personal injury insurance through my wifes job (Big Perk!!)

 

[Mitchell]

No kick backs for me

http://www.arboristsite.com/showthread.php?t=46678&page=2

Your search is over Mark. This thread in business management details what you are looking for. Phone Scott from treesure, he knows his stuff and his specialty is arborists. I switched to his coverage even though he is in Toronto and I'm in Victoria. Basically the policy lays out exactly what you get and what you are [and are not] covered for in language I could understand. My other providers had so much language in there policies I really did not know what the heck I had. Not to mention he saved me good money.

Good luck

 

[juststumps]

I have a 1 million dollar policy. 500,000 per occurance. Which means if I destroy two $500,000 houses I'm covered but if I destroy a $750,000 dollar house I'm screwed. Basically get way more coverage then you think you need to cover all possibilities. I have never made a claim though. Our monthly payment is $215 and we had to pay $800 upfront. Large equipment is under it's own policy. My chipper is covered under it's own which costs $250 a year and it cost $16,000. Of course my dump truck is covered under its own policy as well. Saws and stuff I don't believe get covered since they are small items. I also have workers comp on my employee which works out to about 25-30% in addition to an employees pay that the employer has to pay. But you don't need workers comp on yourself (Owner). Hope this all helps. I'm sure you knew some of it. I'm in New york state. Ohh and I have been doing tree work professionally 5 years. Rates are lower the loger you have been working in general. And I have personal injury insurance through my wifes job (Big Perk!!)

If you are a LLC (limited liability corporation) you don't need as much insurance but it costs alot to become a LLC.

than become a LLC ( limited liability company ) !!!!!! thats only $90 in NJ... and you get the same protection,, less paper work...

2004 vermeer SC352 insured for 20,000 = $144 per year

liablity coverage,, 2mil total,, 1 mil per occurance...= $1428 per year...

when i was new,, the first policy i got was $3600,, for the same coverage...shopped around,, talked to people,, changed agents,,,got it to $2100,, third year got a call from the agent,, he shopped around,, got it for what i posted above,, $500 savings...that guys doing his job,,, instead of sitting back collecting commisions !!!!!

first year is hard,, no track record...going to cost more,,,but once you get going,, you gotta make a lot of calls !!! its your money...

 

[Mark Currie]

Thanks so much for the replies. I'll be getting a hold of Treesure, to see what he has to offer.

Mark

 

[deevo]

great

http://www.arboristsite.com/showthread.php?t=46678&page=2

Your search is over Mark. This thread in business management details what you are looking for. Phone Scott from treesure, he knows his stuff and his specialty is arborists. I switched to his coverage even though he is in Toronto and I'm in Victoria. Basically the policy lays out exactly what you get and what you are [and are not] covered for in language I could understand. My other providers had so much language in there policies I really did not know what the heck I had. Not to mention he saved me good money.

Good luck

I was looking for a change, better rate as well, just e-mailed them! Thanks for the link Mitchell!

 

[Mitchell]

no problemo

I was looking for a change, better rate as well, just e-mailed them! Thanks for the link Mitchell!

His coverage was still worth it even after I had to swallow 400 last week to cancel my Lloyd's coverage. I had better luck phoning Scott directly, he does not mind.

Cheers
Scott Mitchell

 

[Mark Currie]

I emailed him this morning and his account manager replied soon after. Scott then replied to it a little while later (he's at the ISA exhibit at the Landscape Ontario show). He's willing to walk me through the application form over the phone later on tonight.

Pretty cool. Thanks again for the heads up.

Mark

 

[Canyonbc]

I emailed him this morning and his account manager replied soon after. Scott then replied to it a little while later (he's at the ISA exhibit at the Landscape Ontario show). He's willing to walk me through the application form over the phone later on tonight.

Pretty cool. Thanks again for the heads up.

Mark

Sounds like a my insurance agent, responds promptly, walked me through the contract and been able to answer all my questions.

I got his reference too off arboristsite. Granted he is a totally different person...but best of luck.

Canyon

 

[Mark Currie]

Thanks. I didn't get a chance to call him last night, but I will be tonight. I'll post an update after I talk to him.

Mark

 

[Mikecutstrees]

Llc

huh $90 in nj huh? my acct said it was a little over a grand. I was thinking of doing it this year anyways but I'll have to check into it more thanks....

 

[deevo]

Thanks. I didn't get a chance to call him last night, but I will be tonight. I'll post an update after I talk to him.

Mark

He called me back last night, helped me thru the parts i wasn't sure of, he was great, answered all my questions, gave me some good advice etc... and got a good price as well! I'll definetly be going with him! With all the snow that has melted around in the last couple of days I think I'll be firing up the saw on Friday for a couple of small jobs! (keeping my fingers crossed)

 

[Mitchell]

been my experience

He called me back last night, helped me thru the parts i wasn't sure of, he was great, answered all my questions, gave me some good advice etc... and got a good price as well! I'll definetly be going with him! With all the snow that has melted around in the last couple of days I think I'll be firing up the saw on Friday for a couple of small jobs! (keeping my fingers crossed)

Yes he was very helpfull with me as well. Nice to talk to some one who has an idea of what we do. I just recieved my paper work from them [1" thick] and I wonder how many trees it took to make the docs!

Im scrounging around for work right now too, it was nice to get a break on the insurance [even though it cost me an ill timed $400 to get out of my loyds package]

 

[gr8scott72]

Can someone point me in the right direction for insurance. I do stump grinding part time and plan to get to where I am doing it full time. What kind of insurance should I have and where can I get it?

 

[squad143]

I am also insured with Treesure (Scott is my contact/agent). Great rates and a great person to deal with. I went for liability as well as errors and omissions. In addition my equipment is also covered. When I bought a truck for my business I also had it insured through them. (Good rates again).

I highly recommend Scott & Treesure.

 

[cvdirtrider]

Insurance

Is Treesure licensed in the US state where you do business?

Is the policy that is being sold written on a standard comprehensive general liability (CGL) policy? This affords alot more broader coverage as opposed to policies written to the benefit of the carrier, ie. less broader coverage and more exclusions. If it is not a CGL policy run or demand to see the policy and read it before you buy it!

Travelers Insurance offers a Land Pro and Tree Pro program in all 50 states. I got a quote but they were a little higher than my local hometown agent.

 

[squad143]

I don't know if Treesure is in the States or not. I work in the Province of Ontario (Canada) as does the originator of this thread.

I sure if you contact Scott (link is in this thread) he will return your call.

 

[juststumps]

huh $90 in nj huh? my acct said it was a little over a grand. I was thinking of doing it this year anyways but I'll have to check into it more thanks....

my bad.... its $125 now to set up a LLC,,, i thought it was $90.... might have been when i set it up ???? ( just looked it up on the state web site ) $50 a year after that.... did everything on line myself....you also have to get a federal tax id,, from the IRS... thats free,, and you can do that online also.....and you have to get a state sales tax number if you collect sales tax.....

mike, check the NY state web site,, look under the biz heading... if you go to the NJ site,, click on biz,,, they have a starting your own biz section....

just went to the NY state site,,, WOW,, they bang you hard with all kinds of nonsense...... and i thought NJ was expensive to live in....