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Insurance

Discussion in 'Business Fundamentals' started by wildcatter, Oct 26, 2002.

  1. wildcatter

    wildcatter Junior Member
    Messages: 9

    I have been with Allstate for 17 years without a accident claim.
    I cannot get a quote from them for my new truck(Commercial Insurance) annd Plow(Liability).....I really don't want to leave them after all that time...but...Erie has given me reasonable rates with $500,000 liability......Has anyone had any exper with them?.....Is there any reason that I would need more Liability than that?
     
  2. John Allin

    John Allin PlowSite.com Addict
    Messages: 1,327

    The Erie is an excellent organization, well run, and well respected.
     
  3. plowed

    plowed Senior Member
    Messages: 344

    With such songs of high praise John, could you own that too? :D

    -John
     
  4. John Allin

    John Allin PlowSite.com Addict
    Messages: 1,327

    I do not own any Erie stock.
     
  5. Pelican

    Pelican 2000 Club Member
    Messages: 2,075

    Wildcatter, your experience sounds strange to me, my trucks are with Allstate for landscaping and snowplowing use. Maybe you need to find a better agent.
     
  6. plowed

    plowed Senior Member
    Messages: 344

    Perhaps is varies by region or office. I have had Allstate for my auto insurance since I was 16, and we also have our homeowner's, life and umbrella policies with them. However, when I purchased my F-550, they could not insure it since it was over 10k gvwr. My business insurance is with Zurich and they have been fine so far. So as far as I know, other than employee disability insurance, Allstate does not provide other commercial insurance, at least not the agent I deal with. Perhaps it's part of their licensing.

    -John
     
  7. Pelican

    Pelican 2000 Club Member
    Messages: 2,075

    This news is stranger yet. My latest truck purchase was a F-550, insured with Allstate. Perhaps there's a commercial division all agents do not have access to?
     
  8. plowed

    plowed Senior Member
    Messages: 344

    Pelican, I'll see if I can find out why next week from my agent for sure. But I purchased my F-550 new last year, and when I asked them about insurance they told me that anything over 10k was deemed a commercial vehicle and that they would not be able to insure it. Also from experience, they do not write auto policies in MA. Not sure why, but they don't.

    -John
     
  9. Snoworks

    Snoworks Senior Member
    Messages: 466

    From what I have learned about the big two (Allstate and State Farm), both will insure these vehicals under specific terms. For instance State Farm will insure a vehical, if used for buisness, when your company has been in buisness for over a certain # of years. The company will need to be incorporated. The vehical insured must be used for the buisness purposes only.

    I ran into this problem a couple of years ago with State Farm. I had four vehicals insured through them when I was a sole proprietor. They said they would cover any type of accident, even if it was durring snowplowing, with regards to comp. & collision. I just bought a $1,000,000.00 liability policy from another company to cover me, just in case.

    When my company grew, I incorporated, and went to State Farm for my buisness insurance. They said they could not due it at this time. I said why, and they replied, that my company had to be in buisness for at least one year prior to consideration. I said, my company has been in buisness for over six years. They said, that they will only consider, incorporated companys.

    This is what I have experienced anyway! I am in the process of getting quotes from State Farm for my buisness needs. I believe they are not the primary insuree, but I will be nice to only have to deal with one insurance company if the "price is right".

    CGB
     
  10. JCurtis

    JCurtis Banned
    Messages: 862

    Ah!!!! Insurance... the necessary evil!!!!!

    You have to have it to CYA, but seems nobody wants to write the policies.

    If they do write them, they clean out your wallet every year, but if and when it comes time to pay on a claim.... its nickel /dime time.

    Then when something terrible like a huge natural disaster or god forbid a man made disaster ( WTC- 9/11) all of a sudden insurance companies claim that they must double and triple their rates, or drop clients who and I quote "are at risk"

    Sounds like a massive case of COLLUSION to me, maybe the Attornies General for the 50 states and the USA should start looking at the insurance companies the way they are starting to look at accounting firms.
     
  11. f2501960

    f2501960 Junior Member
    Messages: 7

    HELP!!!

    I live in New Jersey, with that said I currently have Allstate and when I asked them to quote with my new plow I was told that they DO NOT write on snow plows. And further, if, I put a plow on my truck I void my current policy. So I have another agent who has access to many options only to get a quote of $2,700 per year. If I can't find something more reasonable I will have to sell the plow. I know, I know I should have done my homework BEFORE I purchased the plow! Does anyone know who in Jersey will cover a plow for a reasonable rate?

    Thanks Guy's:( :realmad: :( :drinkup:
     
  12. Pelican

    Pelican 2000 Club Member
    Messages: 2,075

    f2501960, Chuck Smith would be the one to talk to about Joisey.
     
  13. Mick

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

    f2501960, I know this doesn't help you but I read an article the other day about insurance. Seems I remember it saying NJ has the highest (or one of the highest) rates in the country. I've also heard it called "the lawsuit capital of the world".
     
  14. landman

    landman Senior Member
    from NJ
    Messages: 185

    f250????? if you are a landscaper and are willing to carry all of your policies with 1 company I can refer you to a company that has excellent rates.
     
  15. Rooster

    Rooster Member
    from Kansas
    Messages: 650

    Snoworks,

    I have StateFarm for all my insurance, I just purchased a Hi-Way spreader and called to make sure I have coverage, no problem as long as the spreader in on the truck covered under my truck policy.

    You can always get quotes from another agent with the same company. In Kansas my agent told me that StateFarm is not taking on any new customers because of the ice storm last winter, but will insure any current customers.

    Rick
     
  16. Sno

    Sno Senior Member
    Messages: 320

    ERIE INSURANCE

    Hey guys,

    My sister sells Erie Insurance in Ohio.

    Tell her Sno Maintenance sent you. :D

    419-866-5433 (Duran Insurance agency, Toledo)
     
  17. CARDOCTOR

    CARDOCTOR PlowSite.com Addict
    Messages: 1,310

    IM A SMALL TIME PLOWER .A COUPLE OF SMALL PARKING LOTS.
    IF I PLOW AND SALT AND SOMEBODY FALLS ON THEIR A$$
    IM I LIABLE OR IS THE OWNER OF THE PARKING LOT OF THE HOOK
    I TRIED TO FIND INSURANCE TO COVER THIS BUT IM STRIKING OUT


    THANKS
    CARDOCTOR:confused:
     
  18. Mick

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

    Yes. If you accept money for snow removal, you are considered a professional and are responsible for your operations. As you can tell from this thread, insurance companies are hesitant to accept new policies, especially from those considered "high risk" - those who have no experience in the business (getting a first-time policy) or those with a history of claims.

    Those plowing residential drives will often do without insurance for several reasons - basically, the likelihood of claims is less, but if you're plowing business or other commercial/industrial properties, they should have specified that you will have insurance. There is much more likelihood of a claim. The business and you will be named on the lawsuit. The business' insurance company will come after you, personally, to share the responsibility. Then you will notify your insurance of the claim. If you don't have insurance, you will have a problem.
     
  19. Arc Burn

    Arc Burn PlowSite.com Addict
    Messages: 1,139

    When someone falls and gets hurt they can go after all sorts of people including owners plow operators responsible for the lots, people laughing and not helping,the list goes on and on,if they have a cut throat lawer who thinks there is a $ to be made look out!Seriously though,you can be held liable along with the property owner.Gotta love that insurance.
     
  20. CARDOCTOR

    CARDOCTOR PlowSite.com Addict
    Messages: 1,310

    WHAT INSURANCE COMPANY OFFERS THIS KIND OF COVERAGE
    I HAVE ERIE AND THEY DONT WRITE POLICIES FOR THIS .IVE BEEN PLOWING FOR 20YEARS AND HAVE NEVER HAD ANY PROBLEMS.