Please help, Need Good Insurance

[massmas]

This is my first year in the business. I have all neccessary equipment, truck and trailer, and have been doing the flyer, newspaper, advertising campaign as of late. What I now need is a good General Liability Insurance. In Kentucky, I can not get the Erie or American Family insurance like most of you all have. Today I got a quote of $1132 for $1 million, no equipment included. This seems a bit high because I looked over past threads and I saw $350-$800 for most everyone, equipment included! Any help with other insurance carriers would be a huge help. I landed a nice commercial account and I want to make sure I am covered before I lay blade on grass. Please help.
Thanks.

[Barry Ashbrook]

Just curious, did you ever find affordable insurance?

[amgroup]

Here in GA, I have my business liability ( 1 mil) ins through Allstate. I pay about 600. No coverage for equipment though. Maybe you can ask your auto/home ins company (if you have not done so already). If they do not do business ins, they can refer you to someone who does..

[Barry Ashbrook]

I'm not very knowledgeable on insurance, but is 1 mil coverage really necessary? That seems a bit extreme to me. On that 1 mil, is that the cap for the policy or does it always stay at 1 mil? Just trying to educate myself here.

[GrassMaster]

There is no such thing as to much Insurance...

Hello Barry:

The first $100K is what cost the most, the difference up to a Million is not that much more. I think mine was like $440 more.

Quite a few commercial accounts will require a Mil coverage.

A $100,000 isn't much insurance these days, I don't even own a company vehicle & I carry $500,000 liability on my personal vehicles & Home.

At my Business I carry a Million Liability & another Million Umbrella coverage, I'm still worried I get sued. I've been sued so many times by others driving my vehicles, My 21 Year Old daughter is on foot (Until she pays her own Insurance & car in her name).

My company truck was sold in 1995 because of wreck, where no tickets were written, no vehicle damage found, week later lady stands up at Desk yells out & falls back wards busting her head open...

Her boyfriend found out it was a company vehicle & told her to do that, Lying Thieving Doctor said she had been in Trauma from wreck for a Week, they sued for $25,000, Insurance company settled out of court for $25K. The boyfriend & lady had sued 5 people total in past year.

All my insurance was in one ball of wax, with one company, my Insurance provider canceled my policy. My Insurance premiums are sky high because of Daughter & Employee having a wreck & I owned the vehicle.

People will sue you over anything, Mainly ones that work for others & never owned their own business, it's perceived that All Us Business Owners are Filthy Azz Rich & it doesn't hurt us when they sue us!

We live in a suing society, Be Prepared!

PS: I can write a 50 page thesis about Insurance - Lawsuits & still not tell you close to half of it!

[Barry Ashbrook]

GM, thank you for the info and I'm sorry to hear about your misfortune in the past. And you are right, today's society is sue happy looking for a free ride. Its a damn shame people are so greedy for other people's money that even the professionals (doctor's/lawyer's) lie as well to get a piece of the pie.

Referring to my original post, I wasnt even considering the getting sued part of it. Just the damage liability. But it all definately is clear now considering the low life's out there.

May camel flea's infest all their groins of the low life scum of our happy society!!!!

Thanks again for shedding some light on the post.

[GrassMaster]

LOL let me add more, I'm on a Roll here...

I honestly do not feel you are at that much of a risk with your Customers, from My Stand Point!

You are at your Highest Risk in my thoughts only, when driving down the road. Experience has taught me so over the years! Hey you or one of your employees has a wreck & it's your fault, you can almost bet you will be sued!

Then your next highest risks are...

At your Shop or Home, where ever you work from...

And then your Employees.

Oh, I forgot to mention Visitors, Employees & Nearby Neighbors at places you work at, but really in most cases you are fairly safe at your customers places (because your Customers Love & Trust You) unless you make a Big Boo Boo & this is where you need coverage for, I think the Term is Completed Operations!

My Insurance Premiums are Pretty High & it Helps me sleep at night!

[amgroup]

I'm not very knowledgeable on insurance, but is 1 mil coverage really necessary? That seems a bit extreme to me. On that 1 mil, is that the cap for the policy or does it always stay at 1 mil? Just trying to educate myself here.

Generally, when you have ins for 1mil. Coverage is based on per occurance of claim. For example if you have 5 claims in a year, your policy will pay maximum of 1 mil each time. I am pretty sure that does not happen.
What GM has stated is so true..