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NJ Insurance

Discussion in 'Business Fundamentals' started by Dagwell, Nov 12, 2013.

  1. Dagwell

    Dagwell Junior Member
    Messages: 14

    Anyone else getting there rectums resized by the insurance companys this year? They want $4200.00 per vehicle from me this year. I paid $2800.00 for 4 trucks last year and had no claims.
     
  2. 90plow

    90plow Senior Member
    Messages: 738

    Welcome to the club just got my re new policy 9,800 for three trucks. Thats no chump change. Considering selling at least one truck maybe even closing the doors after the season. No one wants snow removal and i dont blame them. Basically the insurance company opens their wallet to every slip and fall from october-march and for what a few dollars on a policy? Its really getting bad as rates go up and my clients keep crying poor and shopping around. Who needs this crap or all the other stress at 3am.
     
    Last edited: Nov 12, 2013
  3. Ben/Insurance

    Ben/Insurance Sponsor
    Messages: 156

    Dag, while the rates are up with some carriers, many others are still holding steady. You need to ask your agent to shop it around. That sounds like an unreasonably high increase if you are running clean with no claims.. Our Merchants clients have not seen an increase this year on their commercial auto rates. That is one good example. I'm happy to quote it if you'd like. 516-233-3515 or BPalmeri@Archerins.com
    Ben/Insurance
     
  4. 90plow

    90plow Senior Member
    Messages: 738

    Sent you an email
     
  5. rcn971

    rcn971 Senior Member
    Messages: 213

    I was with western world the past two years.......1st year was around $1750, last year went up to $2500. They never cared about machines, and I was up front and told them I had (2) machines and (1) plow truck. Now all of the sudden on renewal this year they are charging on machines as well. I am up to (5) machines and (2) plow trucks this year and they want $17,500 for the year.....needless to say I'm shopping.

    And I have never had an incident either.
     
  6. Dogplow Dodge

    Dogplow Dodge PlowSite Veteran
    from NJ
    Messages: 3,035

    Well, I got off the phone a little while ago with my "perspective" new insurance agent, as I cannot seem to get the one I have to provide me the documents that were promised to me a couple weeks ago. ....


    In the conversation, I was told that there are NO INSURANCE COMPANIES that are currently in NJ that will provide "affordable" insurance for snow plowing coverage. She spoke with 3 of her underwriters that carry snow insurance, and they all had the same spheeel. Because NJ is full of despicable people that want something for nothing, and the claims have been so overbearing, they all now have a "MINIMUM" charge of $4000 PER TRUCK for a stand alone policy, no matter whom it's from. The few carriers that are still here are now banded together to squeeze the little guy out of the business, myself being no exception.

    So.... it basically means that you're in the hole for somewhere between $4k to $5k for your one little truck, even before one single snowflake falls and hits the ground. These policies are "FULLY EARNED" meaning they're payable in full, and you cannot cancel them, ultimately not getting back any refunds...

    Welcome to the club boys..... it's gonna get interesting ..:(
     
  7. Dogplow Dodge

    Dogplow Dodge PlowSite Veteran
    from NJ
    Messages: 3,035

    BTW,

    You guys in NJ want to see just how bad it is ???? Check out this insurance agency and their website declaration:

    http://franchinoinsurance.com/snowplowing


    Very Interesting..... PLEASE DO NOT CALL US !
     
  8. Blizzard1980

    Blizzard1980 Senior Member
    Messages: 186

    I know it's about NJ but got a quote here in NY week and a half ago for 2700$, and to add Slip& Fall another 1700$ from Progressive:dizzy:
     
  9. Ben/Insurance

    Ben/Insurance Sponsor
    Messages: 156

    Blizzard, Progressive doesn't provide GL (trip/fall
    coverage). They only provide truck and car insurance.
    Get clarification from them on what's what before
    you buy anything.
    Ben/Insurance
     
  10. Blizzard1980

    Blizzard1980 Senior Member
    Messages: 186

    Thats interesting. I didn't sign up with them yet. You pretty much just reminded me to sleep with one eye open.
    Thx
     
  11. 90plow

    90plow Senior Member
    Messages: 738

    Still waiting for my quote ben. Havent signed anything yet with my current carrier but its up in one week.
     
  12. Ben/Insurance

    Ben/Insurance Sponsor
    Messages: 156

    90 plow, hi who are you? I have only one quote
    open today. Please send me a PM or better yet
    call or email me 516-233-3515 BPalmeri@Archerins.com
    Ben
     
  13. snoway63

    snoway63 Senior Member
    Messages: 344

    were all getting hosed my insurance is 4500 for the yr fully earned but i have seasonal so well worth my money
     
  14. Blizzard1980

    Blizzard1980 Senior Member
    Messages: 186

    Good for you!payup

    For me uncertainty still lingers around " To plow or not to plow is the question"
     
  15. Dogplow Dodge

    Dogplow Dodge PlowSite Veteran
    from NJ
    Messages: 3,035

    And that's the difference.

    @ $100 per hour (used as an example only), per push guys are in the hole for 45 hours worth of driving, beating on your rig, using fuel, eating corn chips, and taking 5 hour energies...... so at what point do you break even ?

    If you have seasonals, then great ! Too bad where I live, no one will sign them.
     
  16. rcn971

    rcn971 Senior Member
    Messages: 213

    My friend just signed a seasonal in Hazlet......so people do sign up for them.
     
  17. tjlands

    tjlands Senior Member
    Messages: 579

    This might be the last year for us snowplowing.
    I am just wondering how these places(comercial properties) are getting plowing coverage.
    I know several plowing companies that cant get insurance coverage.
    I had to drop several sites because my new insurance carrier would not cover them.
    I am paying 300% more than last year. per truck
    I do not think plowing prices have gone up 300%...lol
    I received an email today 12/03 because one company does not have coverage
    for dozens of properties in Ocean County. WTF
    I am still in the hole for 50k because I was subbing for A national several years ago.
    Ready to move to somewhere warm
     
  18. MSsnowplowing

    MSsnowplowing Senior Member
    Messages: 710

    I feel for you guys that sucks.

    What about putting the insurance on the propertys themselves?

    In other words make them liable for all aspects of any type of slip and fall accident.

    Or make them pay for your insurance up front regardless of what the contract is.

    I would break it down, if your plowing 10 places and have to pay $8,000 for insurance make each place pay $800 extra up front for insurance costs.

    If all the plow companies do that, then it will become part of their business costs to have their place plowed.

    One good thing you can say about it, it will get rid of lowballers one way or another.
     
  19. Dogplow Dodge

    Dogplow Dodge PlowSite Veteran
    from NJ
    Messages: 3,035


    I feel for you, man. I'm moving my insurance out of where both you and I have it, and if, for some strange reason, I'm actually able to find a snow policy for myself, I'll post it here, or PM you the contact information. Currently, BIP isn't cutting it, so I'm moving elsewhere.

    If I can't get any coverage after my policy expires next year, I guess I'm out too.
     
  20. Ben/Insurance

    Ben/Insurance Sponsor
    Messages: 156

    Dogplow, if you perform landscaping with snow
    removal I can help you if you are in NY or NJ. The call/email is free 516-233-3515 or BPalmeri@Archerins.com
    Ben/Insurance