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insurance nightmare

Discussion in 'Business Fundamentals' started by jax1013, Sep 27, 2003.

  1. jax1013

    jax1013 Senior Member
    Messages: 114

    guys in NY city insurance is almost impossible to get...i went from around 1200 annually to 3500 they claimed it was b/c of 9/11.. then to name cvs additional insuered cost me another grand...i know i got ripped off... to put snow mgt.on cost another 1000...all this and i told them i only have one truck ...2500 ram 810 blizzard...i had no choice they were the only one's that would write the policy...thats not including the 2400 per vehicle for commercial policy...this policy had to be paid in full w/in 2 months...i couldn't even cancel it after the season...its good til Jan 04 then its shopping again... any help will be greatly appreciated...also lost cvs to lowballer...(thats another story)
  2. Rooster

    Rooster Member
    from Kansas
    Messages: 650

  3. BRL

    BRL PlowSite.com - Veteran
    Messages: 1,277

    Welcome to Plowsite!

    If you don't see Farm Family mentioned in the Erie threads when you do your search, search that also. Good luck!
  4. cat320

    cat320 2000 Club Member
    Messages: 2,224

    The commercial insurance has gon crazy.:realmad: They have gone up in price for our trucks quite a bite.Have never had a claim prossed that was out fault.Any one else notice a rise in there rates this year??

    from SE PA
    Messages: 38


    we curintly pay $1700 for our c3500hd w/ 1mil in liability & full coverage.

    $650 2 mil umbrella lia
    approx $1000.00 for 2 mil. lia policy w/ all equipment covered at replacement cost.

    I was up set to find my additional ins. were $50.00 per.
    I opted for the 9 payment policy @ $5.00 per billing cycle.{ eg. time value of money}
    nation wide mutual is my carrier, be careful nw has three teer contractor liabilaty price structure.

    new bee----- expencive
    proven what i have
    experenced min. 18 years contractor insured ---- cheap

    also your catagory is important in coverage and premium.
    my agent did a comparason for me and found landscaping is the best coverage/premium mix. per my oblgations.

    i also recomend providing your agent with a copy of the contract (liability portion/ contract requirements) so the have it on file, they will go to bat fro you. insurance companys like to keep there money more than you like to keep your own. they have fists full of lawyers. my agent and i review w/ thier lawer (free) all aspectes of my bus. at least once a year.

    Don't forget lia. policys are audit policys, your premium is based on your gross! ex. your abillity to cause damage!!!!!!