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Insurence rate

Discussion in 'Business Fundamentals' started by Plowmedic23, Dec 5, 2013.

  1. Plowmedic23

    Plowmedic23 Junior Member
    Messages: 20

    Maybe I'm doing this wrong but let me give a little information first. I own a 2006 dodge Dakota putting a western HTS on that I would use for my own drive way and several neighboring driveways. Let be honest everyone is sue happy these days so I figured it's not a bad idea to get "snow plow insurence" on top of my personal auto policy and general liability policy god forbid I get in an collision with the plow on my truck I doubt my personal coverage would cover that.

    I called geico first they gave me a quote of 1,600 paid in full for the season.

    Then I called progressive they gave me a quote of 4,380.00 :eek: that's more then what I paid for the plow.

    Can anyone shed some light on this?
     
  2. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Welcome to the world of insurance. Not sure what you mean by snow plow insurance,more likely your personal insurance will be switched to a commercial insurance policy with a snow plowing rider. And since your a snow only guy you'll pay though the nose for it.
     
  3. Dogplow Dodge

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

    Well, I hate to burst your bubble, but ....

    I just got off the phone with Geico. They DO NOT OFFER GL policies for snow plowing. What you were quoted was an AUTO POLICY for your vehicle which covers damages caused while plowing. Since Geico doesn't have a GL policy available for snow plowing activities, you would still need to acquire another police elsewhere for the GL of snow plowing and removal. Your auto policy will not cover damages to people for falling down and going boom, whereas a GL policy cover this. Two different animals.

    So.... Welcome to the world of insurance. There is a guy on this forum who can get you insurance for snow plowing (GL) and he's under the forum name BEN/INSURANCE.

    Do a search for insurance questions, or just go to the business forum here, and find his number. He's posted it many times.




    BTW, You're not going to find a stand alone GL snow policy for less than $3500
     
  4. Antlerart06

    Antlerart06 PlowSite Veteran
    Messages: 3,437

    Its funny guy here bought a plow. He thought he was going make some extra cash. Started to bid crazy on stuff and won. Then he had get Insurance.
    He canceled on all the contacts he won he wasn't going pay for that insurance and his plow is forsale . Its a brand new 7.6 plow. How I found out he came by trying flip that plow to me. I told him was to small for me.
    He told me he wish look into more before he bought the plow, I said yep.
     
  5. MSsnowplowing

    MSsnowplowing Senior Member
    Messages: 709

    You better make sure with Geico, I had them and when I first put a plow on my truck they dropped me because they wouldn't cover it. They might now as that was several years ago.

    For the commercial truck I use State Farm, their rates are pretty good, wish I could use them for GL insurance but they will not cover any commercial property with more than 4 parking spots.

    As for GL insurance, I just got my renewal rates thru GLquote.com
    Downpayment of $389
    and 10 payments monthly of $88
    1 million coverage

    I don't know if they cover NY and NJ but can't hurt to check it out.

    Good luck.
     
  6. gc3

    gc3 Senior Member
    Messages: 713

    I use progressive for my plow insurance for the snow season. I switch coverage to commercial while plowing and for 6 months it's $ 550
     
  7. Dogplow Dodge

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

    Thanks for that tip... they do cover NJ, but it's still high

    $5k deductible
    $2m GA
    $1m PCO
    $1m per occurrence
    ETC>

    $3330.76

    Down payment of $800
    10 payments of $280

    EDIT:

    WOW !

    I made the mistake of putting down the employees as 1 vs 0 and when I switched it to 0, meaning that it was just for the Owner,

    It dramatically lowered the cost to $2423.76 Woo Hoo !!!

    BTW, There are hidden fees you have to know about, such as the multiple payment surcharges. If I pay it in full it's the $2423.76, otherwise, it gets split into 4 payments and and extra $57 in fees. If they still did the 10 payment thing, which they just eliminated, then you would have paid an additional $200..


    Free internet beer to MSsnowplowing !!!:drinkup::drinkup:
     
    Last edited: Dec 5, 2013
  8. Triton2286

    Triton2286 Senior Member
    Messages: 654

    Contact Merchants Insurance, they're a local company on the island with good rates.

    As Grandview said you need to change over to a commercial auto policy.
     
  9. Ben/Insurance

    Ben/Insurance Sponsor
    Messages: 156

    Here I am!! Thanks for thinking of me Dogplow. Here's the scoop plowmedic. Geico only does private passenger car insurance and in their haste to make a sale, they will not tell you that if you use your truck for business purposes, they will not pay a claim that arises. That goes for every insurance company (in NY anyway). So, if you get paid to plow using your truck, you need a Commercial Auto policy. Progressive is very high. I agree with Triton on the Merchants recommendation. They are a very good choice. We've been agents for them for 20 years and we they are terrific. As Dogplow mentioned, you should also have a general liability policy (GL) to cover trip and falls after you have completed your snow removal. I don't favor buying insurance online (notwithstanding that I make my living doing this). You really should work with a good independent insurance agent. I'm on LI and here if you need me. 516-233-3515 or BPalmeri@Archerins.com. Good luck.
    Ben/Insurance
     
  10. Dogplow Dodge

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

    Your writing indicates you're an intelligent, fair guy

    (you could be a lady impersonating a guy, but since I can't actually see you, I'll just assume you're a guy)
    :D

    in my life's experiences, I've found it necessary to network those whom appear to be of your caliber. Once they've proved me wrong (it's happened countless times), then I'm done. Until then, I'll send anyone in your neck of the woods your way...
     
  11. Dogplow Dodge

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

    Glquote.com

    GLQUOTE.com

    Update:

    I received the documents from GLquote.com, and I'm not impressed.

    Since I did a couple different quotes for my business, I was able to compare different coverages, based upon different data provided to them, with regards to types of coverages required for different aspects of the company.



    They send you a form letter with little or NO information on it. 4 pages long, and the majority of the information on there is instructions on how to review / sign and send in your payment. There is NOTHING disclosing who the carrier is, what restrictions or what the policy actually covers ????? They don't give you any details on what you're getting for sending them $3400. Although MSSnowplowing has had success with this supplier of GL insurance, so far, I'm skeptical on how or what coverages I would actually get by signing with them. For the $600 difference between my old policy and their new one, I'd rather stick with what I have, unless they can provide this information prior to signing on the dotted line.


    With reference to my other quotes I received from them for my business GL policy, the forms that I received were an identical version of the snow policy quote, with simply the Notation in the middle of the quote that discussed the operations that I wanted quoted for the business. In those notations, they restricted just about everything I did, even though the policy was supposed to cover all of my operations. The policy was so restrictive as it only allowed one specific group of work that I would do (IE: interior carpentry, trim etc) yet it specifically forbade full renovations. Again, there is NOTHING in the documentation regarding who the actual carrier is, which in essence, prevents you from understanding if the carrier is a qualified, reliable, or highly rated company, or just some shyster outfit just handing out certificates. They simply provide you a standardized form for another type of insurance coverage, modify it to say "snow plowing" and send it to you pre-filled out with information that isn't actually correct. In the warranty section following the underwriting questions, it specifies that:

    'The undersigned Applicant warrants that the above statements and particulars, together with any attached or appended documents ormaterials (“this Application”), are true and complete and do not misrepresent, misstate or omit any material facts.

    You're agreeing that you're not providing misinformation, and it's clearly not filled out correctly with reference to the policy underwriting questions in the application.

    My recommendation with GLQUOTE.com is : Research before you actually buy....


    Sorry MS, if you've had success with this, but I'm getting a bad vibe from a company that doesn't disclose pertinent information about the carriers in an upfront manner.
     
    Last edited: Dec 9, 2013
  12. Ben/Insurance

    Ben/Insurance Sponsor
    Messages: 156

    Good for you Dogplow! You are my kind of consumer. Overwealmingly, most people looking for insurance only care about the price and do zero research on what they are buying only to find out the bad news when their is a claim. Makes it tough for good insurance agents selling quality products when cheap, crumby policies are floating around. I was in a tire store this weekend getting tires for my wife's car and every customer in the store only wanted the cheapest tires they sold. Chinese made/no name tires and they only saved about $100 on a set of 4. These tires will wear out long before the higher quality Michelin to say nothing about the safety, but they only see the tree..they don't see the forest....
    Ben/Insurance
     
  13. MSsnowplowing

    MSsnowplowing Senior Member
    Messages: 709

    When I did this I talked to a agent directly and asked questions and did the worst case stuff to make sure I was covered.
    Maybe that is the difference if you didn't do that and just got the information from the website.

    glquote is the online to do it but the name of the company is

    Per Project Insurance Agency
    License #0C05445
    350 10th Avenue 10th Floor
    San Diego, Ca 92101
    888-269-0992 x106

    Try calling them.
     
  14. Dogplow Dodge

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

    Did they provide you this information in writing ? or just verbally over the phone ?

    I don't comprehend why they don't include information pertinent to the policy, on the application ? This makes no sense to me. I also don't understand how they can send two different quotes, for two completely different types of policies, and have the exact same paperwork sent, while only changing the costs and one sentence in the docs.

    I'm not bashing you or your decision to purchase from them in any way, shape or form. I just don't feel comfortable without full disclosure of the specs of the policy being in front of me.

    BTW,

    I actually spoke to them on the phone prior to them sending me the quote. The quote is to simplistic for me to just sign and send money to.
     
  15. Plowmedic23

    Plowmedic23 Junior Member
    Messages: 20

    Thanks for all the tips... I can see this will be difficult to make profit using my own equipment rather then working for someone else... oyy
     
  16. MSsnowplowing

    MSsnowplowing Senior Member
    Messages: 709

    It is hard at first because of the insurance, but you really need it for the just in case.

    Also if your subbing for someone you still need your own GL insurance unless they add you on their policy and then it only covers you while your plowing their lots.

    Once you get going, and have more than one or two contracts and your doing say 10, then look at this way.

    Say insurance costs you $2,000,

    Divide that by 10 clients and your paying $200 a property for insurance. Makes it a bit easier to swallow the cost.

    I made a very little bit of profit my first year, I think it was around 1 to 2 thousand only and I was subbing out to another company. But I only had 2 contracts.

    the next year was better increased to 7 made a little more,

    and every year it just kept getting better and better, brought a few guys I know into it, started a sidewalk crew.

    It takes time to build the business.

    So pick up a few and sub for someone to get your feet in the door.

    Good Luck and Merry Christmas