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Liability Insurance

Discussion in 'Introduce Yourself to the Community' started by SnoPro Inc, Sep 27, 2010.

  1. SnoPro Inc

    SnoPro Inc Senior Member
    Messages: 113

    What do you smaller companies use for liability? I have 1 truck, I will be the only driver. Only going to be doing residential accts first year.
    Help please.:help:
     
  2. Rc2505

    Rc2505 PlowSite.com Addict
    Messages: 1,245

    What is your question? Limits, or carrier name, or what? I carry 1 million dollars and insure all of my trucks through the same company. The carrier name is Celina insurance. I hope that helps.
     
  3. SnoPro Inc

    SnoPro Inc Senior Member
    Messages: 113

    Just how much you guys pay and how big of a policy i should get. I'm 18, paying for it myself, my truck, i'm driving. Just looking for help from you guys who know what your talking about. Any wisdon will be accepted :)
     
  4. Mick

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

    COMMERCIAL VEHICLE - with a deductible you are comfortable with. Of course, if your policy is "liability only", there is no deductible.

    GENERAL LIABILITY - Some go with as little as $300,000, but most one-truck operation carry $1,000,000 if they have commercial accounts. Some (like me) go to a million even with "residential only".

    How much will depend on many factors. My cost would be irrelevant to you.
     
  5. RM&M

    RM&M Member
    from ERIE
    Messages: 39

    I just bought my first policy in september. I bought landscaping for 800bucks and added snow and ice removal for 130bucks. that is for a 2million policy with 1million per event. i would say if it was just snow and ice it would have ran me around 200bucks. remember also you have to make sure you have a comm. auto policy and that they know you are plowing. your auto policy covers any damage to property, other vehicles, or yours. the liability policy covers you if someone slips and falls somewhere you plowed.

    talk to a ins. agent who works with several companies explain what you are trying to do and they can advise you best. also the companies that specialize in contractors ins. usually will have better prices than the bigger companies that cover anything and everything.

    im just telling you what i did this year. i went and talked to a agent and i was paying like 3500 a year to insure a dump and to pers. vehicles. now they cost me like 2200 a year with better coverages. and after adding a 2mill dollar liab policy and a homeowners im still paying less than i was just for the three vehicles. it deff pays off to go in and sit down with a agent but like i said do it with someone who insures through more than one company. they have the resources to get you the best deal unlike agents who work for 1 comp only. hope this helps. im new to this also but i just saved myself a %$#^load of money this year.

    hope that helps you and good luck!
     
  6. SnoPro Inc

    SnoPro Inc Senior Member
    Messages: 113

    Thanks a lot RM&M! That makes sence.
     
  7. MileHigh

    MileHigh PlowSite.com Addict
    Messages: 1,827

    This is what I have...

    2 million in general aggregate and 1 million each occurrence.
    and Commercial Auto insurance 250k each person, 500k each accident,

    keep in mind that if you ever hit a car...it's the commercial auto that covers it.

    Here is a copy with the important stuff lined out.

    scan0001.jpg
     
  8. SnoPro Inc

    SnoPro Inc Senior Member
    Messages: 113

    Thank you very much, I called my agent today and they are figuring out a few quote for me. So hopefully I can pick up my truck later this week :)
     
  9. SnoPro Inc

    SnoPro Inc Senior Member
    Messages: 113

    The good news, got the insurance taken care of. The bad news, seeing how I'm only going on 19 rates are through the roof! paying $2000 for com. auto. and $1300 for com. liability. YIKES.
     
  10. MileHigh

    MileHigh PlowSite.com Addict
    Messages: 1,827

    lol...my commercial auto is cheaper than my liability.
     
  11. SnoPro Inc

    SnoPro Inc Senior Member
    Messages: 113

    Hahaa well that sucks for me then. At this point im about to just say screw it for getting my own stuff. I can work for my summer landscaping boss and plow in one of his trucks all winter. Maybe i should just wait a few years, then insurance wont be as terrible.
     
  12. RM&M

    RM&M Member
    from ERIE
    Messages: 39

    sno pro look into a company called dryden mutual ins. thats who i went through for my liability ins. they have set prices for diff packages and coverages. i got the highest one they had for landscape and snow which was 1 mill/2mill and it was only like 930bucks a yr. as far as your comm auto that sounds crazy high. i was paying 1650 a yr for comm liab. no collision on a dump and had my plow truck just under a reg policy cause i wasnt planning on plowing and that was like 1200 a yr for full coverage. now i switched them both to one company and put them both in the same comm policy and it is 1100/yr.
    thats like 1700-1800 less a year. that is through a company called mutual ins. i dont know if either company works in your area or state but its worth a shot. im only 23 so not that much older than you so i cant see how theres that big of a diff. but maybe there is who knows.
    either way if you cant get a better rate than that than yea i would think about maybe plowing in someone elses truck untill you can afford your own ins and everything. and that way your boss is paying for everything, gas ins. maint., and all you gotta do is show up do a good job and get paid, which also might help you when u do go get your own gig in a couple of years. you can say youve been plowing for a couple of years which might help your rate out alot. plus gives you some more exp.

    good luck
     
  13. SnoPro Inc

    SnoPro Inc Senior Member
    Messages: 113

    Thanks man, i wrote down the companies you suggested and put them in a folder with my name on it. maybe in a few years i can make something work. But my boss is like a second dad, he looks out for me so i'll just use his stuff. my truck will be a 99 f250 7.3 stroker reg cab long box with an 8'2" boss poly v. so it'll all work out. i'll be making more cash i believe.

    Thanks for all your advice.

    good luck this year.
     
  14. B&E snowplowing

    B&E snowplowing Senior Member
    Messages: 159

    Hi guys.....YOU ALL MAKE ME SICK...LOL LOL :cry:

    Here in Canada, my commercial auto policy is, (and it just renewed for November 1) 4526.00 per year, for a 1989 Chev 3500, a 1994 GMC Suburban both with plows and a 97 Bucik Regal, all with 2 million liability.

    As for my commercial general liability, I had a 2 million dollar policy, on a per occurance basis, That policy was to renew November 1 as well, but I received a notice from the insurance company telling me they no longer issue policies for "SNOW ONLY" companies.

    My broker is now searching for a company to hold the policy, but it seems there are no insurance companies that will hold a SNOW ONLY policy,

    One company has gotten back to the broker and told them they would hold the policy, but it would have to be paid in full at the beginning of the policy term at a rate of $5000.00 for the year. I have NEVER had a claim or issue in the last 4 years with the same insurance company.

    Now what should I do, I need the policy... Still looking but looks like I might not have any options.

    Now thats what it's like here....Wish I could get your rate.
     
  15. Mick

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

    Can you have a profitable season with this kind of insurance expense? Several companies have folded or stopped plowing for this very reason.
     
  16. B&E snowplowing

    B&E snowplowing Senior Member
    Messages: 159

    Last year my General Liability was 1249.00 for the year. I don't think I have much choice but to keep going, For the first time EVER I signed 3 year deals with 3 of my customers. I am going into my second year of the contracts.

    I have been crunching the numbers and best case I will break even.

    Just waiting to get final number from the insurance broker.
     
  17. RM&M

    RM&M Member
    from ERIE
    Messages: 39

    HOLY CRAP. I would find another profession at those rates. lol but then again you probably make alot more plowing up there in the north than we get down here. going sub rate in erie pa is only like 30-40 an hour subs up there make like what double? lol. i pay like 2030 a year total
    and thats for comm liability on a 82 c60dump, full comm coverage on a 01 ram 1/2 ton and a 1mil 2 mil liability policy. no wonder i waited so long for insurance. when i looked up on here about what people were paying i must have been reading all the canadian prices. lol
     
  18. doo-man

    doo-man Senior Member
    Messages: 387

    Did you get your insurance issues solved? If not I sent you a pm about something else but when we talk I will get you hooked up with a local company which has ver reasonable rates.
     
  19. Gary @ Shamrock

    Gary @ Shamrock Junior Member
    Messages: 24

    Our General Liability policy ($2M aggr, $1M/occur.; $1,037 for 2009/2010 through Commerce Insurance) renews on Saturday... Today our agent calls and says, oh by the way, your 2010/2011 policy covers driveways, walkways and streets, but excludes parking lots. We explain that six of our properties include parking lots (as they did last year). She say... ohhh!?!

    We sent her back to the drawing board! I'm sure it can be insured, but at what cost?

    Have any of you experienced this "new" exclusion? I'll give an update as it comes in...
     
  20. Willis Concrete

    Willis Concrete Junior Member
    from toledo
    Messages: 17

    can you hook me up with the insurance company?