Insurance??!

[qualitylandscaping]

I'm trying to figure out the Pro's and Con's of insurance. I might look into getting some for next year but are all insurnace policies $500+ a month like most of you say? I'm looking for the smallest coverage amount possible. Since I'm not very big yet, I don't need that much..

Thanks~

[Scott]

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no,, lol,, insurance would probably run you in the neighborhood of $500+ per year. I'd get 1 million whether you think you need it or not plus it's not very much more. It's not whether you're very big because all it's takes is one major mishap and you're toast. Little stuff like slinging a rock and hitting a window is minor. Slinging a rock and hitting a little kid in the eye in the next yard is another. You'll have to talk to your agent for actual #'s. Trust us, get the #'s for 1/2 million, then million and then for 2. I pay something like $50-$60 extra per year for a million, very minimal compared to what you're covering, your azz.

[Scaper-S2k]

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If you get quoted $500 per month for this biz insurance, hang up the phone!! These days, go with a million coverage at least. Maybe ask about an umbrella policy over that. As Scott said, for you, just starting out, it should be more like $500 per year.

You should never operate with out the insurance. You are under age. If you were to take out a kids eye, the liability would fall back on your folks. A million dollar lawsuit isn't much anymore. If you can't get the insurance because of your age, ask the folks to get it. It's needed. Good luck on those rates.

[qualitylandscaping]

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I just did an internet quote search for 1/2 mil.. For now I think it would do.. Will hopefully get the quote by Monday and will let you know what it comes back as..

Thanks!

[Nex_generationLLC]

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I can't speak for everyone on here but I only pay $840 per year for a half million in coverage with 3 workers and no set gross income. Them not caring what i gross every year was odd to me but oh well. It's a local insurance company here in New Orleans. I cant think of any con's of having insurance expect that you have to pay for it

[Maddog]

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I just renewed my insurance last month and have 1 million/1 million policy. They use estimated gross reciepts and seeing I do not have full time employees it cost me 757.50 for the year. This is for eastern NC.

[polsmurphy]

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I have been researching insurance myself, and we were quoted 450 for 1/2 mil. Provided that there were only the two of us and we didn't go more than 5 feet off the ground. She said that it would cost more if there were tree services involved.

[Bobby D]

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Can anyone recommend any companies to contact? I am having trouble talking to these people since not many companies around here will insure these types of businesses.
Thanks

[Maddog]

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I just went down to the agent that handles my auto insurance. They checked around for me and got me the best price with a good local insurance carrier.

[Bobby D]

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Well, I have been contacting carriers for insurance. I asked for 1M coverage and workers comp, cause we have to. I also have the option of not getting workers comp for owners, thats me. One carrier said its a must, another said the exact opposite saying health insurance would cover me. I'm confused. Plus, they want detailed lists of all my equipment, etc. Wow, I told them I aint paying for trimmer insurance, my deductible would be $500, trimmers dont even cost that much. I just want my large equipment, in case of a car accident with trailer on back, I cant afford to lose it all. What are you guys insuring as far as equipment? Are they this detailed with you? I feel like they are trying to rip me off, and they wont give me a qoute until all info is in. I feel I need to talk to a lawyer at some point.

[Maddog]

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BobbyD, it sound like you are trying to get two different types of insurance, Liability and Theft, and also workmans comp.

For liability I had to give the insurance company how many employees and annual income. Also it was higher if I climbed higher than 5 feet off the ground to do trees. This only covers damages incured while mowing etc. like throwing a rock through a window from mower.

Theft insurance oe equipment insurance is used to cover if your equipment is stolen etc. This insurance I have to supply year,make, model and serial numbers. They also would like pictures of the equipment but not required. I know the $500.00 deductible wouldn't cover one string trimmer but if that $300 trimmer was stolen with the $6000 ZTR, a $1800 trailer, $900 push mower, $3000 W/B, $400 backpack blower and $300 edger it would be worth it. It has happened around here where whole trailers with equipment have been stolen.

Workmans comp must go by state. I checked into it here and it is not required unless you have more than 3 employees. I checked this at the insurance company, with the state and with a lawyer friend of mine. Here the owner doesn't have to have workmans comp but has to file specific paperwork to get the waiver.

It seem that the insurance company should be able to give you a ball park figure if you are able to give them a ball park on you equipment etc.

[trent88]

This is an old thread again. Anyway for you guys who are in the same situation my advice is shop for insurance online. there are a lot of good insurance out there. In finding good insurance policies you should always compare rates side by side and compare policies side by side. The best way to do this is to go to sites like www.insurancepaylite.com. This way you can get up to 5 insurance quotes and look at them side by side, more options equal a better chance of getting a great policy at a better price.