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is this a good rate?

Discussion in 'Business Fundamentals' started by EZSnow, Oct 28, 2003.

  1. EZSnow

    EZSnow Senior Member
    Messages: 205

    Through the conversation here, and by the number of accounts I'm picking up lately, I have decided to snag a GL policy for this season. I've been sliding by as a sub most of the time, but we won't talk about the past.

    I got a quote for $544 for a year of GL at $500k/$1m policy... sounds reasonable- no?
     
  2. Snoworks

    Snoworks Senior Member
    Messages: 466

    Thats around what I have paid in the past with Western Heritage - I think it was $500.00 for the same limits.

    Chuck B.
     
  3. JustUsDe

    JustUsDe Senior Member
    Messages: 181

    I think every area is a different price. I have a 1mil for 398.00 a year from Nationwide.


    Ray
     
  4. Mick

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

    I think mine was half again what you're paying for the same coverage. Go for it.
     
  5. Snoworks

    Snoworks Senior Member
    Messages: 466

    There are some variables to consider, if I am not mistaken. If you have a current active policy for other business insurance, you will pay less than if you have snow only liability.

    At least this is what my last insurer told me. He suggested to me that if I do some construction work in the off season - LOL - like carpentry - to get general liability for that, and then add snowplowing to that policy.

    Chuck B
     
  6. WOOFSPLOW

    WOOFSPLOW Member
    Messages: 76

    The last couple of days I have been trying to get a quote for a gereral liability policy - snowplowing only.....Nobody seems to know what I am talking about. The closest I got was someone who could write a policy for a landscaper and add snowplowing to that for around $1000! This year I am only doing residential driveways - is GL required in this case or does it fall under the homeowners policy. I am only concerned for a slip/fall accident I have $500,000 in auto liability/property damage. Does anyone know of an agent in RI that can help? Thanks:confused:
     
  7. JustUsDe

    JustUsDe Senior Member
    Messages: 181

    I have my gl as a landscaper with snow plowing added thats how I got it so cheap. If you don't have commercial insurance on your truck you better talk to your agent. My personal insurance only covers me if I plow my own property and while driving with the plow. They told me as soon as I drop the plow for money I am not covered because now my vehicle is considered commercial. I know many guys around here that take the chance but they are also low-ballers that I can't compete with because I have commercial insurance on all my trucks and I have the 1mill gl.
    But I have to much to loose to take a chance like that.

    So in short make sure your insurance on the vehicle will cover you when plowing. As far as the home owners insurance yes it will cover the home owner but if the person sues you too (most likely they will) the home owners insurance only covers the home owner and your on your own if you don't have gl insurance.


    Ray
     
  8. WOOFSPLOW

    WOOFSPLOW Member
    Messages: 76

    In Rhode Island all pickups are considered commercial vehicles even if you just use for personal use.
     
  9. Mick

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

    That's how many are, even if you don't do any landscaping. GL can't usually be written for part of a year and having GL at snowplowing rate the year round is very expensive to have when there is no snow.

    GL insurance is required if you are concerned with slip/falls and other accidents that happen where you plowed (or should have plowed). I have people argue with me all the time that the homeowner's policy will cover any accidents, that I wouldn't be named in a lawsuit, etc and garbage. They may believe that, but when the chips are down (like in court) your hiney will be hanging in the wind and you'll wonder where that nice guy, who was going to have his insurance protect you, went. My insurance agent even wanted to tell me that GL wasn't required for doing driveways. But, she also admitted that I wouldn't be protected in the case noted above. She said the same - the homeowner's insurance would pay. Then, as we talked about it, she decided that I could, in fact, be held potentially liable. So much for the wisdom of insurance agents.
     
  10. JustUsDe

    JustUsDe Senior Member
    Messages: 181

    Yes they might be considered a commercial vehicle by your dmv but the insurance is still personal unless you state to your agent that you run a business and the truck is used for business. Please if you want to protect your self contact your agent and be upfront on what you are doing with the truck and how ask them how to properly insure your self to protect what you have.

    Ray
     
  11. WOOFSPLOW

    WOOFSPLOW Member
    Messages: 76

    I have talked to an insurance agent and I do need a policy that has my truck as commercial and is used for snowplowing. He quoted me $593 for a six month policy. I still can't find anyone to cover the general liability in the area....I am beginning to wonder if anyone around has it. What if some kids come along and start playing on the piles of snow, fall and get hurt what covers us/me then. I can't find information out ragarding this. What if I plow and sand and we get another 1" of snow and someone falls then, when does my liability end? I am not a hack plower and take pride in my work. For $25 or $50 what is expected? I am just starting to get pissed off. All we are trying to do is make an honest buck and do the right thing. In this day and age it's expensive to do the right thing.:cry:
     
  12. Scenic Lawnscape

    Scenic Lawnscape Senior Member
    Messages: 481

    here in michigan it is next to impossiable to obtain snow plowing insurance. Well since i also own a landscaping company my insurance agent put down that 25% of my business is snow plowing and i was able to get a 2millions dollar policy General liability for $825 a year and my commercial auto insurance is $65.00 a month. I guess it goes to show that you have to shop around becuase i was first quoted $1,600 every 6 months on a $500,000 policy just for landscaping , and that was going through the insurance company that my fiance has used for 8 years with her dance studio. I guess it also helps to have a friend who is neighbors with my "new" insurance agent
     
  13. jbutch83

    jbutch83 Senior Member
    Messages: 227

    My GL insurance costs $320 a year, landscaping with snowplowing added. It also helps that that I have a one ton truck, my insurance company rates it as commercial, only costs $400 a year, full coverage with a 250 deductable.

    John
     
  14. EZSnow

    EZSnow Senior Member
    Messages: 205

    thanks for all your input, guys. I'll continue to sit back and watch the show!!
     
  15. CPSS

    CPSS Senior Member
    Messages: 334

    Don't get confused by the wording. " Commercial Vehicle" and "Commercial Use" are two completely different things. You probably wont be covered. And the slip and fall accident won't be covered even with a commercial vehicle policy. You have to have General Liability insurance with "completed operations" included.

    You'r playing with fire if you don't have the proper insurance. Talk to your insurance agent. He can steer you in the right direction.