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Any reasonable insurance prices in NJ

Discussion in 'Business Fundamentals' started by anygirl, Nov 1, 2013.

  1. anygirl

    anygirl Junior Member
    Messages: 2

    For the past 7 years I've had my plowing insurance and general liability through Western World.
    I have two trucks and do commercial lots. I have never had a claim on anything period.
    For the first 4 years, the price was $1,500. ($750. per vehicle). The last two years it's been $2,000. ($1,000. per vehicle).
    Just received this years rates; $4,300.!!

    Has anyone gotten any decent pricing in NJ and if so, where??
  2. Dogplow Dodge

    Dogplow Dodge PlowSite Veteran
    from NJ
    Messages: 3,699

    In short.. No. Reasonable excess lines insurance polices no longer exist. You might find some dodo birds, though..:waving:

    Several threads started on this subject in the last week alone. Look through this forum to see what's been responded to already...

    Good luck. If you find something, be kind enough to let us know...
  3. BC Handyman

    BC Handyman PlowSite.com Addict
    Messages: 1,943

    with all this crazy NJ insurace probs lately, I wonder if people or contractors will move out of state or just risk working without insurance.
  4. anygirl

    anygirl Junior Member
    Messages: 2

    The only thing I found was some shady B rated company in California; Preferred Contractors Association. (through CommericalInsurance.Net)
    They would write a 1 mil 2 mil general liability policy based on $30k payroll w/ a snow plowing rider. for $1,150.
    The plowing would covered up to $25k, basically you would be covered if someone stubbed their toe.
  5. Chineau

    Chineau Senior Member
    Messages: 447

    Thats crazy.

    how much liability for those prices, you must be doing 200,000 worth of business for that rate.
  6. Ben/Insurance

    Ben/Insurance Sponsor
    Messages: 166

    Truck insurance and General liability (GL) insurance are different products. Truck insurance is much more widely available and rates vary wildly by carrier. GL for snow removal is harder to find and can be very costly. I'm not sure which product he is referring to. If anygirl is referring to truck insurance, what kind of trucks are they? Tough question to answer without more info.
  7. Dogplow Dodge

    Dogplow Dodge PlowSite Veteran
    from NJ
    Messages: 3,699

    Anygirl is referencing snow plowing slip and fall liability insurance with Western World. I have the exact same policy...... they're one of these outfits that does excess lines insurance from what my agent tells me....
  8. EGLC

    EGLC PlowSite.com Addict
    Messages: 1,733

    $4,300 isn't far off. I started in 2009 paying $650 for 1 truck. Last year it went to $3,000 for 2 trucks and they wanted it up front. No 50/50....this year they are calling for it to spike again.

    Too many scumbags out there bidding sh*t cheap and crashing trucks. Pair that with a "sue-me" state of NJ and premuims have sky-rocketed