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Discussion in 'Business Fundamentals' started by Underdog1, Jul 6, 2005.

  1. Underdog1

    Underdog1 Junior Member
    Messages: 17

    this will be my second year plowing only residential driveways. i might pick up a commercial account or two this year but i have a F150 so i wont take on anything too big.

    what kind of insurance do i need? do you guys pick up a liability package? do you up your coverage for your auto insurance? whats the smartest thing to do?
    thanks guys
  2. Ken1zk

    Ken1zk Senior Member
    Messages: 192

    I live in New York State. I would strongly advise you to seek the advice of a good attorney on this one for what the requirements are for where you live and operate your business.

    I have general business liability insurance to $200,000.00. This covers any suit resulting from my conducting business, i.e. slip and fall injury.

    Vehicle Liability to $300,000. Per occurrence.

    Full comprehensive, collision, glass coverage with a $200.00 Deductible.

    I plow mostly driveways and two small 20 car parking lots which are medical practices.

    Hope this helps, Ken
  3. Makndust

    Makndust Senior Member
    Messages: 324

    The lovely insurance topic!!!

    I plow all commercial lots from the school system to the local Pamida. My automotive insurance policy is set for a 1,000,000.00 for liability. I believe that this is for if I smack someone in the parking lot while plowing snow. Then I carry a 1,000,000.00 general libility policy. I think that this is the good old slip-n-fall deal with granny walking out of the store. Or if I stack the snow and it melts and runs into the neighbors basement.
    Some people say that I'm overinsured. I also went to my attny last fall and started an LLC. Hopefully this will protect my assets if I do get sued.
  4. justme-

    justme- 2000 Club Member
    Messages: 2,138

    I have full insurance on my trucks but have not had personal business liablility. I will be picking up $1mil policy this year just incase. I run 99% residentials and have never had any trouble. I also have a release (lawyer approved) all my customers sign- no signed release no plowing.

    SIPLOWGUY Senior Member
    Messages: 686

    Who do you guys use? I sat last year out because I didn't have proper insurance. I had a hard time finding a company.
  6. bterry

    bterry Senior Member
    Messages: 183

    SIPLOWGUY, you're in a tough area for insurance companies. I heard it's harder to find and even more expensive than the rest of us New Yorkers pay. I use Farm Family, the best deal I could find. But it's still pretty steep. I bought a $1M GL, and $500K commercial vehicle policies.

    See you at Hooters right?
  7. Chris-R

    Chris-R Senior Member
    Messages: 321

    Hi Underdog. I see you live near me as I also live in Central Massachusetts. You want to check with your auto insurance agent. There's some rule where he/she can add a rider to your Mass. auto policy for incidental snowplowing for less than $50 per year. The trick is that you must be using your truck no more than 20% for snowplowing. Again, check with your agent. Of course, you should also have your agent take a good look at your Mass. auto policy to make sure your liability levels are adequate. I carry 1 Million which costs extra but not really a whole lot more than bare bones insurance. If you get too commercial, then your agent will tell you that you must change to a commercial auto policy. It costs about twice as much as you're paying now. Also make sure to file a "homestead" on your house. See your attorney and he will do it for you. It shouldn't cost you more than $200 including the filing fee at the Worcester District Registry of Deeds. It will stop the bad guys from taking your home if granny slips and falls on the parking lot you just plowed. Happy plowing :waving: