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Ontario Liability Insurance Quote Check

Discussion in 'Business Fundamentals' started by JohnnyRoyale, Sep 16, 2009.

  1. JohnnyRoyale

    JohnnyRoyale 2000 Club Member
    Messages: 2,935

    Just got my renewal quote for all of our insurance-good thing my cheeks were well planted in my office chair and I wasnt sipping my morning coffee :eek:

    I understand everything goes up, but last time I tried jacking my rates by 38%-I got cut off a few Christmas card lists.

    Last year we paid $2.55/$1000.00 for landscaping and $34.00/$1000.00 for snow.

    We were just quoted $3.06/$1000.00 for landscaping and $46.92/$1000.00 for snow.

    Zero claims, and $5,000,000.00 coverage. What are the rest of you paying? :drinkup:
  2. JohnnyRoyale

    JohnnyRoyale 2000 Club Member
    Messages: 2,935

    WTF-nobody have insurance in Ontario? BUMP.
  3. DeVries

    DeVries PlowSite.com Addict
    Messages: 1,605

    Ya YA hang on I will check in the morning and get back to you. Man are you ever impatient. LOL
  4. JD Dave

    JD Dave PlowSite Fanatic
    Messages: 11,032

    Last year was about $34/1000 and this year I'm not exactly sure, all I know is it went up. All of our insurance went up. WTF Should know for sure the first of next week.
  5. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Can you play around with the deductible?
  6. JD Dave

    JD Dave PlowSite Fanatic
    Messages: 11,032

    He's probably already at 5-10k.
  7. JohnnyRoyale

    JohnnyRoyale 2000 Club Member
    Messages: 2,935

    Im almost certain deductibles at $1000.00, but will have to confirm tomorrow.
  8. Pristine PM ltd

    Pristine PM ltd PlowSite Veteran
    Messages: 3,794

    I will let you know the price tomorrow. I bet ours is higher because of a few claims and age.
  9. JD Dave

    JD Dave PlowSite Fanatic
    Messages: 11,032

    Sorry, I'm pretty sure mine is 5k.
  10. Bajak

    Bajak Senior Member
    Messages: 999

    30.95/1000 for 2 million with 2K deductible. Up 5% from last year. Owen Sound/Grey/Bruce area.
  11. Snowman.ca

    Snowman.ca Junior Member
    Messages: 2

    Rates are up about 31% this year. I am not sure what my rate/$1000 is but way too much.

    We have done everything by the book, ZERO claims, high deductible ($5000.) and average double digit increases since 2001 are about 30%.

    Insurance has reviewed our contracts, inserted "indemnity clauses" yet they still go up.

    Apparantly companies like mine are an "...easy mark..." as there are only 3 compnaies writing ploicies for compnaies that exclusively deal in snow....my argument is, I "may" be better than those who do it as a sideline as I specialize in it and earn my livelihood off it!!

    Fleet up 18% this year....I can accept that as everyone in same boat....personal and business.

    Strategic shift over last 6 years away from trucks (to heavy equipment) just to get some relief and less grief from the Insurance compnay and the MTO!
  12. JohnnyRoyale

    JohnnyRoyale 2000 Club Member
    Messages: 2,935

    I feel your pain Dave.

    I got requoted by my prior broker, and unofficially, he's come in approximately $15,000.00 less per year, with same deductible and coverage and hasnt calculated my auto policy yet. Story is, my current underwriter-(which i wont mention here-but will disclose in a pm), has been taking a **** kicking, paying out 1.40 for every dollar in. I havent had a claim for 6 years now-but we're all grouped together in this program (fn geniuses).

    Needless to say-I will be making a change.
  13. Triple L

    Triple L PlowSite Fanatic
    from Canada
    Messages: 5,976

    One of my buddies just got dropped by the insurance company thats sponcering our "smart about salt" program... And if your a certified contractor, you supposibly get a 5 or 10% discount on your premiums.... So he goes and gets his training and while he's in training, he get the call from his insurance company... Thats just too funny :dizzy:

    MIDTOWNPC PlowSite Veteran
    Messages: 4,424

    I only have 2million liability. Im thinking maybe I should be going to 5. suggestions?

    I figured mine out and the rate is $18.40 / $1,000 for 2mill

    Im with Aviva Pilot
  15. JD Dave

    JD Dave PlowSite Fanatic
    Messages: 11,032

    We're talking just liability for snow, not anything else.
  16. cet

    cet PlowSite Fanatic
    Messages: 7,196

    That would still be dirt cheap.
  17. JD Dave

    JD Dave PlowSite Fanatic
    Messages: 11,032

    Yes it would be, not sure what I was thinking.
  18. JohnnyRoyale

    JohnnyRoyale 2000 Club Member
    Messages: 2,935

    These insurance guys are geniuses-did I ever mention that?

    I just found out that when your broker takes your policy to market, they have locked in other providers from giving other brokers quotes on your policy. My existing provider has done just that, but hasnt gone to all underwriters, which leaves a select few.

    Kind of mafia style if you ask me.

    My suggestion to you all is that you get quotes prior to your renewal, way in advance from another broker-so you dont give your broker a chance to lock you out of the market.

    MIDTOWNPC PlowSite Veteran
    Messages: 4,424

    your saying mine is low?

    A quick phone conversation about the cost to go to 5 million and he said it would be about $38/1000.

    If its low it might be because I have a huge liability policy on my plaza, maybe Im getting a quantity discount.

    Should I have 5 million?

    from what I understood they just made commision on what you were sold.
    here is my broker...
  20. JD Dave

    JD Dave PlowSite Fanatic
    Messages: 11,032

    It's low because of the 2 mill, $38/1000 for 5mill is more then I pay.