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NJ Business Insurance ???

Discussion in 'Business Fundamentals' started by BlueRam2500, Sep 13, 2007.

  1. BlueRam2500

    BlueRam2500 Senior Member
    Messages: 765

    All right, as the time gets closer, I am starting to shop around for insurance for my small business. I only have a few consistent aspects of the business which are office cleaning (2 accounts, twice per week) and lawn cutting (2 accounts, twice a month). This winter, I am mainly doing commercial properties (I currently have 4 commercial accounts and only 2 driveways). I know that I need insurance for the business, but I don't generate enough money to justify paying $5000 or so for a policy. What do you guys suggest I do? I have already spoken to my accountant and will be setting up an LLC in the very near future. Any help or suggestions would be appreciated.
     
  2. iceyman

    iceyman 2000 Club Member
    Messages: 2,546

    nj sucks :mad:
     
  3. Mick

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

    I may sound snippy, but seriously - If you have done the number crunching and it doesn't seem feasible that you're going to do enough to justify the cost of business (insurance), then don't. Forget about plowing and do something else. That's exactly what I had to do a couple years ago - I wanted to start a wrecker business. Drew up a plan, went to training, started shopping for equipment etc. No one thing killed the idea really. But when I started figuring how much work I was going to have to generate to show a profit - I cut my losses (I'd already spent about $2,000 on the venture) and went in another direction.

    Put out your accounts to an established plowing company or just tell them you've changed your mind and offer to help them find someone else.
     
  4. iceyman

    iceyman 2000 Club Member
    Messages: 2,546

    or find other plown cos that will put you on there insurance and just work for them.xysport
     
  5. tjlands

    tjlands Senior Member
    Messages: 577

    Way, way way to risky to plow in NJ with no Insurance,
    The LAWSUIT capitol of the World.

    How is it possible to get a commercial account with no insurance?
     
  6. lilweeds

    lilweeds PlowSite.com Addict
    Messages: 1,178

  7. snowjunkie

    snowjunkie Junior Member
    from NJ
    Messages: 4

    NJ Business Insurance

    Try contacting Selective Insurance. They seem to have some of the best rates for contractors in the state. I go through the Parker Agency in Flemington.
    Adding snow plowing to my existing lawn policy was an additional $800

    You may want to try adding a few more accounts to make it worth while or sit on the sidelines.:sleeping: Doesnt seem worth the risk or time to dabble just a little.

    "Get 'er done".:drinkup: