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Canadian Insurance rates

Discussion in 'Commercial Snow Removal' started by martyman, Nov 24, 2002.

  1. martyman

    martyman Senior Member
    Messages: 281

    I paid a grand last year for insurance for residential last year and this year my broker wants fifteen hundred. Anybody have a good broker in the Toronto area? I have been offered small commercial properties this week but I would not be covered under my insurance and I don't think that I could afford the commercial insurance.

    Marty
     
  2. elitelandscape

    elitelandscape Member
    Messages: 79

    Insurance rate's are going up here in canada there is nothing you can do besides up your prices. Just tell the customers what the deal is it's not like your going to be charging them a $1000 more per client or anything. I'm in NB canada and i'm paying around $1500.00 just for 2 million liability and my family own's the insurance company so that's with deals. So i would say you are doing pretty good.
     
  3. casey

    casey Banned
    Messages: 180

    I do year round contracts. The "no plowing" on my insurance policy saves me a few $$$.
     
  4. RAZOR

    RAZOR Senior Member
    Messages: 342

    I just goy my insurance renewal last week it went from $900 to over $1200. The insurance on my back-up truck also went up 30%, no claims or tickets. I have shopped around and I find this to be about the going rate for $1,000,000 liability. I don't have theft coverage on my lawn equipment because it is too expensive and they won't cover equipment unless it is in a locked compartment on the truck, so in other words if it is stolen they won't cover it. What can you do it is too scary to operate without liability insurance.

    Martyman, if you want my brokers phone #, let me know. Maybe you might get a good price. Then again maybe he will want more than you are already paying

    Razor
     
  5. martyman

    martyman Senior Member
    Messages: 281

    thanks guys

    Actually I was wrong It went up from 9 hundred to 16 hundred. I talked to my broker that is my close friend tonight and he said that another company wanted me to pay 25 hundred. Jeez I might have to raise the rates up next year for sure. I guess thats why I had a lot of calls this year and I didn't even advertise. I don't get what Casey said about "no plowing on the contract"?


    Marty
     
  6. Bonzai

    Bonzai Member
    Messages: 57

    Guys the news I have got from my insurance company is that no new snow removal companies able to get insurance. To many claims over the years. All I can say is the prices will now start to go up for snow removal as fewer and fewer companies can afford the insurance. The bottom line is to document ever single thing that you do on site and when you did it. My guys have joked that they each need a secretary in the trucks with them for all the paper work. Have had claims over the years but no winners because of the paper trail for each site and storm.
     
  7. Nova

    Nova Member
    Messages: 58

    What are we supposed to do? I cannot get insurance either, am I supposed to change careers?

    I will continue to operate without it. These insurance companies don't make any money off snowplowers, so they refuse to cover me? Screw 'em.
     
  8. Bonzai

    Bonzai Member
    Messages: 57

    Nova
    Check with Landscape Ontario, they deal with an insurance company that may take you on. Big risk without insurance.
    Good luck.
     
  9. martyman

    martyman Senior Member
    Messages: 281

    no matter what.

    gotta have insurance! I can't count how many times I have slid towards the garage doors (luckily I never hit them) I still put on my contract that I am not liable for any personal injury or damages due to icy conditions on customers property and I am not resposible for any damage to interlock or paved driveways. I also put that I don't salt.

    Marty
     
  10. elitelandscape

    elitelandscape Member
    Messages: 79

    All I know around here and most places snowplowing contractors in general put every little thing threw insurance. I come from a family that owns a couple State Farm Insurances here in Canada they are one of the biggest insurance companies around that insure alot of plowing contractors so we see alot of stupid stuff come threw for example a guy the other day slide into a parked car $700.00 damage he claims it threw insurance instead of paying it himself... This happens all the time so the more guys keep claiming every little bump and scrap instead of paying it themselves they are killin the rest of us. Thats one of the reasons why the rates are going up.
    Then you have the case of another guy sideswipes a car with his plow 600.00 damage to both vehicles all together. Well the person in the other car just happens to have a sore neck and wins a 100,000 in damages. The sad thing is all these welfares and low income families are treating this type of stuff as like they are winning a lottery. And that my friends is killing us to.
    So since we pay more for insurance jack your rates up if the customer says no thanks just move on there are lots of people that understand out there.
     
  11. Nova

    Nova Member
    Messages: 58

    If I'm paying up the a** for insurance, you better believe I'm claiming as much as I can. Insurance companies are among the biggest scammers and it's about time the government got involved.

    I try to sell snowplowing as insurance, so you know I'm always going to come through and give them what they pay for, no matter what.

    Insurance companies and banks, you can't get by without either one, but they can't get by with us either. So who has the real power?
     
  12. elitelandscape

    elitelandscape Member
    Messages: 79

    Thats good to hear your paying up the a__ nova it's contractors like you that put snowplowing in a HIGH RISK rate. Just keep claminig more and more stuff see if it goes up any more. In fact maybe you would be lucky to get kicked out and never get insurance again with anyone.
    The government has already stepped in and jumped out before they get in over their heads. Look what they did in BC they stepped in alright losing millions. Why would the gov't want to take something on where they are going to loose billions of dollars then they are just going to tax us cdn's like crazy.
    The problem here isn't necessairly the insurance companies they are all running in the negative. It's these stupid lawyers who are suing for millions of dollars all over an accident that cost 500.00 but some low life claims they have neck pain.
    So therefor thats why everyone not only snowplow contractors are getting crazy rates.
    I think Insurance companies need to develop the quebec strategy. If you get in an accident there you get 20,000 no matter if you bumped your head or if you were killed that keeps all these people from winning million dollar suits over a hurt knee or what ever. They have the lowest rates in the country we know people there that are paying 500.00 yr for 1 million liability for snowplowing
     
  13. Nova

    Nova Member
    Messages: 58

    Actually, I have NEVER made a claim in my 9 years of driving.

    What I meant was, if I ever needed to make a claim, no matter how small or how big I would expect to be fully compensated, which almost always never is the case.

    Since I've never had to make a claim, I can only base this on what I've heard from others, and nine times out of ten the insurance company ends up screwing the customer in the end.

    That's what I'm talking about. It's time the insurance companies started treating everyone fairly, on an idividual basis.

    But it's a never ending battle, obviously the insurance companies are in the business of making money, I understand that. But stop using statistics and start treating everyone like a customer.
     
  14. nsmilligan

    nsmilligan PlowSite.com Veteran
    Messages: 704

    I carry 5 million contractors liability and 2 mil on my vehicles in total i pay about $6,000/year to insure my vehicles/ and cover my butt for plowing. The 5 mil was a requirement of one of my contracts, and when I 1st when to my agent he told me that he didn't think it would be possible to get that much coverage without winning the lottery. Anyways because I was claim free, and although I had 1 claim, but because I had accurate records, of when I plowed and salted, and the claim was denied, and I'm certified by the Provincial safety association as having a safety program in place (a serious course involing written hazzard assements of all plow sites etc) they provided coverage. Anyways if your claiming every little scrape an dent ( I've never claimed plow damage to my trucks against my insurance) , but the one thing (catch 22) the insurance companys want is a good track record, which if you're just starting out is impossible to provide, that's why if there are any safety certifications or training that you can show you've taken, then they'll take the rise of providing coverage.
    Bill
    PS Things like membership in SIMA should help too
     
  15. cutntrim

    cutntrim PlowSite.com - Veteran
    Messages: 248

    I run three plow trucks (plus sub a fourth), and I pay $6500/yr. for 2 mil. liabilily and 2 mil. vehicular per truck. It sucks but whadda you gonna do? I raise my rates accordingly and pass the buck to my customers 'cause that's who pays at the end of the day.