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Does anyone know what type of insurance I should get for vehicle and business and or company. A friend of mine owns a flooring company and says his insurance dropped a third when he used his vehicle as company vehicle and he has general liability. I am using my only vehicle for business but my insurance company told me it would be more. I was just wondering if anyone knew of good company or how I should go about telling company I want to set up insurance to be cheaper. Thanks for any advice I may receive.
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I was informed anytime using vehicle for business always the insurance goes up. I don’t know how much to get for coverage as I’m in the same market for the insurance hopefully someone can chime in more light on thisWe integrate all
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I was informed anytime using vehicle for business always the insurance goes up. I don’t know how much to get for coverage as I’m in the same market for the insurance. Hopefully someone can chime in more light on thisWe integrate all
One call we do it all!
www.intgr8all.comComment
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get commercial insurance on your truck & 1 million dollar liability
insurance on the biz.Comment
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Your insurance will increase when you notify your company you're using it for business. I'm unaware of any law that says you must tell them that, but of course I'm not a lawyer. For sure increase your liability. We carried 500,000 on all of our vehicles and in all honestly it probably wasn't enough as mentioned in the previous post.
You may also consider limiting your personal liability by incorporating as an "S" type. Maybe do this through an attorney. In Florida they get 300-500 bucks to do a simple S corp.Bob Kessler
Bullseye Educational Services
772-562-1442
Consulting & Training for the Green Industry
http://www.bobkesslerceu.comComment
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Because were just starting out.. we use full coverage on our truck.. and have a seperate policy for 1 million in liability insurance and that policy covers 10,000 for equipment also.. When you get bigger you may want to get commercial on your vehicle..till then small startups can use just regular truck insurance.
Danz Lawn Care ServiceComment
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I have my insurance through Allstate they insure my truck and trailer sepaeratly and have my genral liabilty for the buisness through Hartford. My agent made me give him a list of all my equiptment that I carry in my trailerComment
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<font face="Comic Sans MS"><font color="teal">I think it depends on the state you live in and what you are doing. We sat down and had a meeting with our insurance agent and she led us in the direction we needed to go. For the lawn care portion of our business, our auto insurace did not go up. We had to go through a seperate company to get property damage coverage.It is a totally seperate policy and not connected to our auto insurance. But if you are plowing (which we are), it's a different story. The plowing is what made our vehicle insurance go up. If you are plowing you need to make sure that your vehicle insurace covers plowing and you also need to carry the liability insurance. If you bid commercial accounts, they may require a certificate of insurance. You should sit down with your agent and explain exactly what you plan to do in your business and they should guide you on what to carry. I know that insurance agents aren't always helpful, but ask as many questions as you can. Make a list before you go so you won't forget anyting. If you are in Indiana, you can email me.
On another insurance note:
Every person in general life should always carry full coverage on their auto with at least $500,000. We learned this the hard way when my husband was seriously hurt in an accident. We had a "beater" car and carried the minimum insurance. We thought it would be no big deal if the car was damaged. We never took into consideration the fact that my husband could be hit head on and be out of work for 8 1/2 months trying to recover. We are currently in the middle of a big lawsuit over this accident which happened in 2000. It was the other guy's fault (he died). Our insurance company (Allstate) didn't pay anything (long story, but READ THE FINE PRINT ON YOUR PLOICY!). Anyway, I think a lot of us take insurace lightly and don't take the time to ask the questions we need answered. I'm not trying to preach, just passing on a hard-learned lesson in my own life.</font id="teal"></font id="Comic Sans MS">Comment
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Specifically if you are in Arkansas but even if you are not - has anyone ever heard that you have to have commercial insur. on your truck to put a sign on it advertising your business? I was told this and not sure if it is right or not. Thanks.Comment
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As BOBKESSLER said, there is no LAW that you have to tell insurer that you are using your truck for business. HOWEVER, if you are in an accident, they WILL find out if you are hauling a trailer with a bunch of mowers....and DECLINE TO COVER THE ACCIDENT (and likely CANCEL YOUR POLICY, TOO). Since we want to have insurance when we are in an accident, then you need to tell them, and get a COMMERCIAL AUTO POLICY to cover your work vehicle. It is just one of the costs of doing business. Also you need a GENERAL LIABILITY policy to cover you in case you damage a clients property (your HOMEOWNERS policy won't work!). Finally, if you have even 1 employee you need WORKERS COMP.
Having the right insurance is just as important IF NOT MORE IMPORTANT than having the right mower!
MikeComment
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good point...sigpic...............RƎVO˩UTION!...............Comment
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I don't know if this helps, but I have full coverage on my truck even though I have paid it off. My insurance covers anything I am pulling with it.
BUT I will contact them and tell them I will be using a trailer for a business and see if it makes a difference.
I also will get contractor/liability insurance.Comment
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so what insurer do you go for? i really out to look into this and does this cover for the stuff that gets stolen as well? or is that another deal.Originally posted by GrassBustersLawnComment
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I use erie. They gave me a great rate. 2mil coverage, all equipment mowers, trailer, 03 truck all insured for under $2000 a year. Allstate wanted $3600 just for the commerical auto.--- Chris
mowlawns@gmail.comComment
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See if you can find an agent for National Grange Mutual Insurance Co. I got full coverage for around 1600, including the vehicles.Comment
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