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Insurance in NEW YORK

Discussion in 'Business Fundamentals' started by snoway63, Sep 11, 2013.

  1. snoway63

    snoway63 Senior Member
    Messages: 344

    So I hear its going to cost us over ten grand to get insured in NEW YORK this yr anyone else seeing this, No one wants to write a policy because of the high claims last yr, even if you never had a single claim WTF
     
  2. truckitup

    truckitup Senior Member
    Messages: 255

    Still waiting on my renewal. I called them and they keep saying they are working on it will not give me a $$. It is due to renew the end of the month. We will see.
     
  3. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Are you snow only
     
  4. truckitup

    truckitup Senior Member
    Messages: 255

    Heck no. I am in Rochester. Plowing barley pays my beer tab.
     
    Last edited: Sep 11, 2013
  5. RLM

    RLM PlowSite.com Addict
    Messages: 1,270

    Welcome to the club, Nationwide "non-renewed" our policy I'll be shopping shortly....I already was over 10g so that's nothing new.
     
  6. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    I haven't had any problems,yet.
     
  7. Dogplow Dodge

    Dogplow Dodge 2000 Club Member
    from NJ
    Messages: 2,911

    My insurance went up $400 in a blink of an eye, but I'm not paying 10k, so I guess I'm alright as of now.

    It appears that one of the major snow insurance companies bailed out, and the option was to stay with whom I had, or have no insurance. Well, I paid my insurance bill, and told them that I loved them dearly for taking advantage of me, now that their main competition bailed.

    So...

    Here's the scoop. If rates go insane crazy, then who will renew? Well, most likely, the companies that remain profitable will do so, and the others, such as myself, will bow out. With that, the number of competing companies will dwindle, and you remaining felllas can then jack your rates up sky high. This will open up the doors to residential "guy with a truck and a plow on it", and lots of little dudes with no insurance are going to do well, as they will undercut you ravenous bastards that jacked your rates on the poor, unsuspecting homeowners...

    I guess I'll take the company name off my truck when my insurance bill comes in, and give it a shot being one of those dudes with a pocket full of cash....:nono:

    BTW.... I've never had a claim.....so they're just taking advantage of the dwindling market competition..
     
  8. snoway63

    snoway63 Senior Member
    Messages: 344

    as of now nothing under 10g I hear its a NY AND Mass issue this year, and yes 100% snow removal
    They are saying even those underwriters may pull the plug in months to come, lets hope its to early to say we are screwed, my broker checked all the big companies even the one that write up in Buffalo and they aren't issuing any
     
  9. SnowHill11

    SnowHill11 Senior Member
    Messages: 104

    Haven't heard of any issues yet with my insurance, granted I'm pretty small and do primarily lawn and landscape but.... I think my policy renews in January so I'm covered till then. I'm with Erie....
     
  10. DieselSlug

    DieselSlug PlowSite.com Addict
    Messages: 1,054

    This may be my last season, im paying no where near that much, but im not making what I think is worth it to keep plowing. Might start sticking to my personal/relatives drives at non-for-profit.
     
  11. jmoriweb

    jmoriweb Junior Member
    Messages: 11

    I did not bother to renew this year. My rate went up to $6500 (residential only) and I really need it for commercial so why bother.

    I was thinking of opening a construction company and move it all under that name just so I can get reasonable insurance.
     
  12. Dogplow Dodge

    Dogplow Dodge 2000 Club Member
    from NJ
    Messages: 2,911

    ditto


    What makes it "reasonable insurance" if the business name is used ?

    Mine is under my business name, and I still don't think $2k a year is reasonable for one truck and no losses ever..... or maybe I'm just not seeing the costs you guys are.
     
    Last edited: Sep 20, 2013
  13. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Resi are commercial work in the eyes of the insurance companies
     
  14. snoway63

    snoway63 Senior Member
    Messages: 344

    From what in hearing its a NEW YORK issue not NEW JERSEY
     
  15. snoway63

    snoway63 Senior Member
    Messages: 344

    You cant use a consruction company insurance unless you have something written in it to cover snow removal, there is no way around having plowing insurance at least not if you really want to be covered legally and not lose everything you own
     
  16. shovelracer

    shovelracer Senior Member
    Messages: 525

    Dog, Are you talking about plow coverage for your auto? Most are talking about General Liability coverage. We couldn't touch GL in
    NJ this year for anything close to 2G and that was if we kept it tied to the landscape, but reduced the service to less than 20%. Where we were was going to be much much more than that.

    Even more interesting? We had been paying extra for plow GL through the same carrier, but by removing it our regular GL was cut in more than half. They were taxing us twice, and the numbers we've been shopping all showed similar results.
     
  17. alldayrj

    alldayrj PlowSite.com Addict
    Messages: 1,097

    maybe owebama will subsidize it for us
     
  18. Dogplow Dodge

    Dogplow Dodge 2000 Club Member
    from NJ
    Messages: 2,911

    For the time being ?

    Usually what hits NY swings over to NJ shortly after....
     
  19. Dogplow Dodge

    Dogplow Dodge 2000 Club Member
    from NJ
    Messages: 2,911



    I'm speaking of Snow Plowing insurance as a stand alone policy. I have my Commercial Auto with NJM, my GL and Umbrella insurance through Farm Family, and my Snow Plowing insurance though a company called Western World. The Snow Plowing policy covers losses for any injuries due to my plowing activities only, and it was purchased separately as FF will not provide me Snow plowing insurance as a rider.

    Prior to the 2013 season, there were a couple of companies that competed here for snow removal policies, but as of 12/31/12, they pulled from the market, and no longer were offering policies here. Western World, it appears, is the only company, right now, that is offering snow plowing insurance here, and if my hunch is correct, I will be receiving a HUGE INCREASE in Jan 14 for no reason other than this. Again, I have NO losses, but that doesn't really matter, now does it ? Depending on how well this season works out for me, from a financial standpoint (how much money I make this winter from plowing snow), I will, or will not, renew at the end of January. If not, then I just plow for free
     
    Last edited: Sep 21, 2013
  20. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Why doesn't your GL have a insurance rider?