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Is this gl coverage ok??

Discussion in 'Business Fundamentals' started by Theshoemaker, Jun 12, 2010.

  1. Theshoemaker

    Theshoemaker Senior Member
    Messages: 210

    Hello, i got quoted 900 a year for a general liability policy. It's a 2 million gl with a million agg. Meaning a million per occurance, claims not to total 2 mil. My question is, is this a good price??? And would this be ample financial coverage??? I'm located in ohio and i'm small (do a few shopping centers and strip malls).

    O and this is just liability for buisness, no autos (different company).

    Thanks in advance!!!
  2. Mick

    Mick PlowSite.com Veteran
    from Maine
    Messages: 5,546

    In general, looks good. Does the policy specify commercial ?
  3. Mick76

    Mick76 2000 Club Member
    from Maine
    Messages: 2,157

    I've got the 1 mil/ 2 mil... I pay $600 per year...MMG Insurance
  4. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    2 million is good ,but you need to see what the property managers want for coverage. And make sure your insurance says "snowplowing"
  5. Theshoemaker

    Theshoemaker Senior Member
    Messages: 210

    Thanks again!! Yes the policy specifies commercial snow plowing/hauling, so that end should be ok, i will just need to see if 2mil/1mil is enough coverage for the property company.
  6. PeterG

    PeterG Member
    Messages: 37

    Who do you go through? I need my insurance quick and am having trouble finding places.
  7. LB1234

    LB1234 Member
    Messages: 91

    I thing you mean 1 mill per occurance and 2 mil aggregate or 1mil/2mil. not the other way around.

    Insurance is funny...I am in jersey and pay close to 7 grand for my gl coverage and inlands marine coverage. I pay an additional 2300 for commericial auto on two trucks with plows and salters for 1 mil coverage. Within my GL is a rider for snow plow coverage that costs about 900. I have 1 mil per occurence and 3 mil agg. You guys are paying for total insurance for basically under what I pay my rider for. so according to me you are getting an unbelievable deal!!