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  • Liability Insurance Question

    I am trying to start my own business and have just been quoted a price for liability insurance and want to know if this is about the going rate. I was quoted a 1 million dollar per occurence and 2 million per policy for about $700 per year. I was also told this came with a $500 deductible per incident. Any information is greatly appreciated. Thanks

  • #2
    Originally posted by Kell32 View Post
    I am trying to start my own business and have just been quoted a price for liability insurance and want to know if this is about the going rate. I was quoted a 1 million dollar per occurence and 2 million per policy for about $700 per year. I was also told this came with a $500 deductible per incident. Any information is greatly appreciated. Thanks
    Seems about right

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    • #3
      I would raise the deductible to $1000 if you can. It should lower the price.
      a.k.a.---> Erich

      www.avalawnlandscaping.com


      Build a man a fire, he'll be warm for a day.
      Set a man on fire, he'll be warm for the rest of his life.

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      • #4
        I pay 744 for same no deductible on liability or property damage and 20,000 on my equipment with 500 deductible.

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        • #5
          who are you going through??

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          • #6
            United fire and casualty
            P.O. Box 73909
            Cedar Rapids, Iowa 52407-3909
            319-399-5700
            I use a local agent that got me the policy, If you want more info im me. rick

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            • #7
              I was just quoted $629 per year. For $600,000 per occurence on liability or property damage and $3,000 on my equipment with 500 deductible.

              I thought the premium seemed quite high, but I don't know. I pay almost that much for my car insurance.

              For the price of $629 per year it seems like it would be cheaper to just pay for any damage that might happen than it would be to get the insurance. I work alone so I don't have any employees to worry about. Plus any damage I might cause would most likely be under the $500 deductable so I would have to pay for it anyway.

              Do you think that having fully insured in your advertisements helps bring you more business and would make the price of insure worth it even if you don't have any damages to claim?

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              • #8
                Originally posted by nick11380 View Post

                For the price of $629 per year it seems like it would be cheaper to just pay for any damage that might happen than it would be to get the insurance. I work alone so I don't have any employees to worry about. Plus any damage I might cause would most likely be under the $500 deductable so I would have to pay for it anyway.
                Ahhhhhhhh. :alien::alien::alien:

                Ask yourself "what is insurance?"

                So what if you're mowing and you run over some glass bottle you didn't see...the blades break it up and spit it out the side of the deck which just so happens to nail a child. Child's parents are pissed at you. Now you're on the hook for medical bills, not to mention the compensation they'll be suing you for. But I guess you're right - that outta all be cheaper than $629 per year.

                Do you think that having fully insured in your advertisements helps bring you more business
                Can't say that it'd help, but it definitely won't hurt.
                2008, 2009, 2010, 2011, 2012, 2013, 2014 and future 2015 LSF RECEPTED AWARD recipient!

                Hortikulture Kolledge Grad + Licensed Master Irrigator + Certified Backflow Technician +
                Licensed Fert & Squirt Applicator = Jack of all trades, master of none.

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                • #9
                  Originally posted by nick11380 View Post

                  For the price of $629 per year it seems like it would be cheaper to just pay for any damage that might happen than it would be to get the insurance. I work alone so I don't have any employees to worry about. Plus any damage I might cause would most likely be under the $500 deductable so I would have to pay for it anyway.
                  Ahhhhhhhh. :alien::alien::alien:

                  Ask yourself "what is insurance?"

                  So what if you're mowing and you run over some glass bottle you didn't see...the blades break it up and spit it out the side of the deck which just so happens to nail a child. Child's parents are pissed at you. Now you're on the hook for medical bills, not to mention the compensation they'll be suing you for. But I guess you're right - that all outta be cheaper than $629 per year.

                  Do you think that having fully insured in your advertisements helps bring you more business and would make the price of insure worth it even if you don't have any damages to claim?
                  Can't say that it'd help, but it definitely won't hurt.
                  2008, 2009, 2010, 2011, 2012, 2013, 2014 and future 2015 LSF RECEPTED AWARD recipient!

                  Hortikulture Kolledge Grad + Licensed Master Irrigator + Certified Backflow Technician +
                  Licensed Fert & Squirt Applicator = Jack of all trades, master of none.

                  Comment


                  • #10
                    The longer you have business insurance the cheaper it will become. I use State Farm. After three years of use, the policy drops 20%. A company has to be insured for 12 months, and not seasonal or policy time starts over.
                    sigpicwww.360lawnservice.com
                    812-236-4806

                    Terre Haute, IN Lawn Care
                    360 Lawn Service
                    "Cutting Edge of Lawn Engineering"

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                    • #11
                      I just got some insurance.

                      $300,000 liability/property damage
                      $10,000 on equipment
                      $500 deductable

                      For $300 a year.

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                      • #12
                        thats not bad at all i get a $1m 550a yr 150down
                        lawn service Miami

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