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Additional insured $150.00 add-on

Discussion in 'Business Fundamentals' started by zackman, Dec 20, 2009.

  1. zackman

    zackman Member
    Messages: 43

    We had to add a company as additional insured we are only working with this company for a few months meaning I don't think we will have this account next year..
    I added them on and received a bill from my insurance company for $150.00 more is that normal??
    when I asked to have them named my insurance said nothing to me about an extra charge.I guess I would have done it anyway I just did not know that they charge extra for this..

    Now would I have to pay more next year also even if I am not working with that company anymore?
  2. wizardsr

    wizardsr PlowSite.com Addict
    Messages: 1,584

    Depends on the insurance company. I don't get charged anything extra for additional insureds with American Family.
  3. Camden

    Camden PlowSite Fanatic
    Messages: 6,604

    I have Westfield insurance and they hit me with a $75 charge each time I add someone.
  4. Dailylc

    Dailylc Senior Member
    Messages: 226

    If customer requires it they are charged for it,period.

  5. Mick76

    Mick76 2000 Club Member
    from Maine
    Messages: 2,157

    MMG no charge for any additionally insured...and I've put alot on!
  6. big acres

    big acres Senior Member
    Messages: 653

    I agree, but you should break the bawls of your insurance company over it. Our company does not charge us, and we do a dozen or so annually.
  7. terrapro

    terrapro PlowSite Veteran
    from MI
    Messages: 3,912

    Welcome to the world of commercial plowing. I had a company slip me that this year after the contract was signed, corporate office kept saying I wasn't insured properly blah blah blah....I just made them make up a two yr contract plus grass. payup
  8. LoneCowboy

    LoneCowboy PlowSite.com Addict
    Messages: 1,760

    Yep, $100 for me.
    And it's a reasonable charge for the insurance company.
    They are basically insuring you AND whomever you just added.
    Not unreasonable to charge more for that.

    If customers want additional insured (unless it's a huge client in which case I'll just eat it), I pass it right along, and tell them I'm going to pass it along.

    Most don't need it all of a sudden, they just need the insurance certification (which is all they really needed to begin with)

    And yes, as soon as you stop doing work for that company, go remove it from your policy and have them sent a copy. Otherwise you're still paying (and liable for) their insurance.
  9. Mark Oomkes

    Mark Oomkes PlowSite Fanatic
    Messages: 13,249

    Yup, fairly normal. I don't get charged for it anymore, used to.

    I always hated it when I did pay when they would tell you after signing the contract.

    Had one bump up the liability and umbrella coverages in a huge way. They are paying for it.