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Holy Cow Is Insurance Crazy $$$

Discussion in 'Business Fundamentals' started by Grn Mtn, Aug 28, 2005.

  1. Grn Mtn

    Grn Mtn PlowSite.com Addict
    Messages: 1,644

    What is up with insurance companies putting the hammer down on commercial plowing insurance! I'm getting quotes from $3200-$12000 for just commercial plow/salt alone. The $3200 is based on payroll, the $12000 is based on receipts, and both do an audit at the end of the year just to see how much more they can hit you for.

    If I did no commercial plowing, and kept my residential (which I am not doing) plowing to only 25% of my net income, than I could have my landscape business and plowing covered for just under $1000. This is bull crap. I like commercial plowing because I am going forward not reversing, and I'm not driving all over hells acre's to get to the job site, thus less traffic, IE morons driving around.

    I'm going to have to get another account just to pay for the insurance.
    Sorry for the venting, just had too get it off my chest.
  2. Ken1zk

    Ken1zk Senior Member
    Messages: 193

    I hear ya Grn Mtn,
    The insurance costs in New York are a real killer. Especially when you add in the salting service since that opens up a whole separate can of worms in the "slip & fall" arena. It's getting to the point that something has to be done in Albany to limit liability and settlements to more reasonable amounts. The injury lawyers here in Buffalo advertise the slip and fall injury thing big time during the winter months. :dizzy:
  3. Mick

    Mick PlowSite.com Veteran
    from Maine
    Messages: 5,546

    And with an estimated $26,000,000,000 (billion) in insurance costs from Hurricane Kattrina, it's going to get MUCH worse.
  4. mikekinney

    mikekinney Member
    Messages: 33

    How much worse

    I know ,I much worse before their is no little Small Business left. At 380 a gallon and insurance cos!!! not looking good.

  5. Bad Luck

    Bad Luck Senior Member
    Messages: 741

    Ehhh, get sued once..........

  6. Big Nate's Plowing

    Big Nate's Plowing PlowSite.com Addict
    Messages: 1,266

    I have been shopping around the last 2 weeks and insurance has basically trippled from last year, and thats just for the durango, another two grand a piece for the s-10's, I told my current agent that I am going from 2 m coverage to 1 mil or maybe half mil,afterall I have had good luck with 0 claims in the last 4 years, my only fear is someone else running a truck not giving a **** and hitting someone else :eek: