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Commercial Liability Question

Discussion in 'Business Fundamentals' started by Stan, Jul 8, 2009.

  1. Stan

    Stan Senior Member
    Messages: 579

    How much are you guys paying per year and who is insuring? I just got a quote from State Farm for $3700 per year and was wondering is this the norm? I do have a full time job am planning to utilize this for snow plowing only/seasonal. Was told that some companys are not writting new policys. Any help would be appreciated.
     
  2. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Is this for truck insurance or General Liabilities or both?
     
  3. Stan

    Stan Senior Member
    Messages: 579

    Just for "slip & fall"/liability.
     
  4. Chrisxl64

    Chrisxl64 Senior Member
    from CT
    Messages: 574

    I'm at about 1000 for GL. Can't remember the name of the company just the broker, its in a file cabinet in my office and unfortuantely I'm at work.
     
  5. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    mine is just a little more then a grand but i have 2 million in coverage
     
  6. Turf Commando

    Turf Commando Senior Member
    Messages: 567

    I pay $350 every 3 months but that includes liability, commercial auto, plus Million $ umbrella policy..
     
  7. Stan

    Stan Senior Member
    Messages: 579

    If its not too much trouble can you post some insurance company names/numbers?
     
  8. T-MAN

    T-MAN PlowSite.com Addict
    Messages: 1,363

    I have Erie now.
    American Family writes snow, so does travelers.
    Most guys have snow as an add on to there other seasonal work. There rates will be much, lower due to this. Most companys will not write just snow policies.
     
  9. Stan

    Stan Senior Member
    Messages: 579

    Thanks T.
    I've been working for a sub-contractor for over 15 years. I'm trying to get the overall cost of over head soup to nuts before I bid. I am in the process of registering an LLC and have never done this sort of thing. A few replies above seem fairly reasonable but have a question:

    Are these premiums for the entire liability policy or an add on to cover slip & fall/snow removal?
     
  10. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    GL usually covers everything. Unless you hit something with your truck then the auto kicks in. Just make sure too that you have commercial auto insurance and not personal on your truck because you won't be covered if something happens.
     
  11. Stan

    Stan Senior Member
    Messages: 579

    Thanks grandview. Being that your in NY who do you use?
    State Farm was out of thier mind when they quoted me.
     
  12. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Mine is brokered through M&T Bank insurance and they put me through Peerless insurance out of Ohio.
     
  13. Stan

    Stan Senior Member
    Messages: 579

    Thanks again Grandview
     
  14. Stan

    Stan Senior Member
    Messages: 579

    The best price I have found is apprx 1800.00. I need a general policy for landscaping with coverage for snowplowing. The highest was $3700.00. Is the first figure good with $1M coverage/1000.00 deuctable?
     
  15. Bajak

    Bajak Senior Member
    Messages: 999

    mine is for 2 mill too but it cost me just under 2 grand a year. and I don't live where anyone is worth that:jester:
     
  16. Stan

    Stan Senior Member
    Messages: 579

    LOL nobody is worth that here as well. Is your policy written for landscaping with snow plowing coverage?
     
  17. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    You have to remember with business insurance is that your premium is partly based on revenue ,another words it's so much per 1,000.00 so that's why everyone has a different price,it just depends on the figure you give them ,then after the first year they will send out an audit sheet and readjust your premiums.
     
  18. linycctitan

    linycctitan Senior Member
    Messages: 588

    Stan, where on the island are you? I pay about $1200/year on $1M/$2M GL and I'm covered for landscaping, plowing, and power washing. My broker has me through MSA Group. PM me if you want my brokers info.
     
  19. Bajak

    Bajak Senior Member
    Messages: 999

    I'm actually an excavating contractor. The only thing I'm not covered for is forestry operations.
     
  20. Stan

    Stan Senior Member
    Messages: 579


    --------------------------------------------------------------------------------

    All the agents I spoke with never asked me about revenue. All they asked if the commercial lots were large. My response was several small lots. It's hard to determine Mother nature. If we have the precipitation as this summer it would be a good season