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Named insured

Discussion in 'Business Fundamentals' started by Plowin in VT, Dec 18, 2007.

  1. Plowin in VT

    Plowin in VT Senior Member
    Messages: 233

    I just had a long talk w/my insurance agent after a potential customer wanted me to list them as a named insured on my insurance policy. She told me that if something was to happen, and we both were to get sued, MY policy would be hit first for the TOTAL judgement, and theirs would only get hit once mine maxed out.

    For example - $900,000 judgement - My policy would be hit for the full $900k, and their policy would be hit for nothing. If they aren't a named insured on my policy, we each would be hit for $450k.

    I know that none of this money would be directly coming from my pocket, but you can bet the $450k would make a huge difference come renewal time .

    Just some food for thought.

    Evan
     
  2. Woodland

    Woodland Senior Member
    Messages: 269

    I assume your ins. agent explained what the purpose of this was? It is fairly common on commercial contracts, plowing or otherwise. The idea is the company hiring you does not want to pay out or be bothered for "accidents" that are caused by your work.
     
  3. ppandr

    ppandr Senior Member
    Messages: 619

    We plow a Marriot hotel here and they are also "held harmless/ additional insured" which is common among corporate clients with legal teams....We also plow a much larger strip mall whose owner does not even ask for proof of liabilty, he knows we do but, two different extremes. Funny thing is is that the private owner has been sued multiple times for slip/falls with a previous contractor.
    If they want you to name them as additional insured be sure that you decide when you service them, not on their terms. If they don't want to agree to your tiggers and salt apps then move on.
     
  4. Woodland

    Woodland Senior Member
    Messages: 269

    Excellent point! If you have to take the risk make sure you control it. And charge appropriately!
     
  5. Plowin in VT

    Plowin in VT Senior Member
    Messages: 233

    That is exactly what I did. They said 4" trigger, and salt only when they requested it. I wished them luck, and went on my way...
     
  6. QuadPlower

    QuadPlower PlowSite.com Addict
    Messages: 1,056

    I guess I need more explination on this.

    I plow sidewalks for a City. I have them listed on my insurance as listed above. They won't pay me for plowing on the weekends.

    There have been several storms on Friday, Sat or Sun that I couldn't plow until Monday. If something happened, then I would pay for it all (insurance). I should make them pay me to plow on the weekends.
     
  7. ppandr

    ppandr Senior Member
    Messages: 619

    Do you have a contract that outlines the times you are to plow? That way if something happens during a time period you are not "responsible" for a reasonable judge would toss the lawsuit back on the town. Most of these slip/fall cases are settled out of court by insurance companies anyway.
     
  8. fernalddude

    fernalddude PlowSite.com Addict
    Messages: 1,105

    That is the reason I wont work for some national companys. Why would I cover another company when they tell you what to do and how much to apply if we are responsible for slips and trips. I would just get the contract myself and only if I choose how much and when.
     
  9. QuadPlower

    QuadPlower PlowSite.com Addict
    Messages: 1,056

    Yes I have a contract with them. According to it, I'm responsible from Mon-Fri. No plowing on the weekends. They have other contracts with other subs that state the sub clears the inital snow prior to 6 a.m. and the people working there (fire fighters) are responsible for it during the day.

    I'm not worried so much about slip and falls. I have a snow storm rolling in this afternoon (Friday). I am not suppose to plow it until Monday. Last year I missed out on being paid for a storm because it came in on Friday night and was melted by Monday a.m. On the other hand I have had 2 storms come in on Sat night of 8" or more. If I was to wait until Monday, I would run out of time to get it done. The last one I went out and plowed on Sunday and then went back with the blower on Monday.

    I am going to talk with them about this storm and see if I can plow on Sat. I still have to go out and do my other accounts on the weekends.
     
  10. Woodland

    Woodland Senior Member
    Messages: 269


    Why would the town not want you to plow on weekends? If it were me I tell them to...
     
  11. QuadPlower

    QuadPlower PlowSite.com Addict
    Messages: 1,056

    I think the reason was the initial bid would have possible been higher if a different rate for weekend work was put on it.

    We got 4" of heavy wet snow from Friday at 12 - 6pm. I went out and plowed at 5 and was done by 11. So I'm billing them for it. It would have been VERY hard to plow it Monday a.m. with everyone walking on it.

    I haven't had the time to talk to them yet about weekend plowing, but will.