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  • Business Liability Insurance

    1 thing I overlooked was Business Liability Insurance, which I was requested to provide proof of today when submitting a bid, anyone find some cheap insurance anywhere here on the internet? *I got 1 quote today from a local broker and they want $500/year for insurance for 1 million $ coverage, was wondering if there's cheaper out there? I've also seen Commercial Auto Insurance, would this be the same type of coverage I need that would also cover me at each of my properties? I'm really unfamiliar with this.

    Thanks,

    ANDY




  • #2
    $500/year for a $1 million policy? Dude, that's an awesome rate! Do you realize that is less than $42 a month! I'd jump on it!

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    • #3
      Yea what they guy said up there &^^^^^^^^

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      • #4
        Yeah, I guess your right, that's not bad, I just had in my head what my Uncle told me, he quit his business 3 years ago and he said he only paid $200/year, so I thought $500 was bad, but I guess its not.

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        • #5
          Im paying $800.00 for 1/2 mil per year - whats the name of your agent?

          I have hartford now

          Thanks

          Tom

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          • #6
            Its a local Farmer's Insurance Agent.

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            • #7
              Hi Andy,

              Let us know which one you decide to go with.
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              Download your Free trial of Gopher Lawn Care Software.

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              • #8
                I ended up going with Farmer's Insurance, they did my 99 Suburban and the commercial liability insurance for $130/Month. Figured I'd stay local and actually talk to someone in person.

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                • #9
                  Would you recommend this to other lawn care operators?
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                  Download your Free trial of Gopher Lawn Care Software.

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                  • #10
                    One thing to keep in mind when your purchasing insurance, is the actual coverage and limits, not just the price.

                    You would be amazed at how many policies I have seen where companies paid a fair sum of money for slim to no coverage, and had they spent a little extra money or changed carriers the coverage difference was huge.

                    Before I got into the Green industry I was a certified insurance counselor for 16 years and specialized in commercial contractors.

                    If you have any questions let me know...

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                    • #11
                      Hi Gilligan,

                      Welcome to our forum!

                      What advice do you have as far as the type of insurance coverage a lawn care operator should purchase?
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                      • #12
                        Well good morning, That was a quick response.

                        You asked a GREAT question, How detailed an answer are you looking for? I could literally type out a book about all the different types of coverages (Ex: General Liability, Commercial Auto vs Personal Auto gaps, Workers Comp, Excess Liability vs an Umbrella, Inland Marine coverage...etc...etc...)

                        and we havent even begun to discuss limits..additional exposures..various types of policies..Such as a stand alone GL or package policy vs a BOP type policy...

                        and then of course theres the topic of difference between insurance carriers..

                        I'd probably take away from your band width if I typed it all..

                        lol

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                        • #13
                          What would you recommend for an LCO? Your personal recommendation... and how much coverage?

                          I think the biggest thing being a business owner is that I want the most coverage for the least amount of money spent... I mean, I know I can't get maximum coverage for pennies on the dollar, but I want to make sure I can stay covered without spending all my profits on insurance.

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                          • #14
                            Quote[/b] (pmblair @ Dec. 08 2007,1:16)]What would you recommend for an LCO? *Your personal recommendation... and how much coverage? *

                            I think the biggest thing being a business owner is that I want the most coverage for the least amount of money spent... I mean, I know I can't get maximum coverage for pennies on the dollar, but I want to make sure I can stay covered without spending all my profits on insurance.
                            Thats exactly right,...theres no sense in going to the poor farm by paying premiums you can't afford.

                            Best way for me to give you advice is tell me a little about your specific operation. Are you a sole owner operater, other than you how many people employed by you or sub contractors working for you that dont have their own coverage.

                            Business entity type..C, sole proprietor, etc.
                            approx annual revenue..you can pm this to me if you want so its not out in the forum...
                            Do you want to cover your equipment?
                            Vehicles...personally or commerciall owned..

                            Lets start with this info..and I can steer you along better...

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                            • #15
                              Other than the normal lawn work, do you perform any other duties....Snow plowing (didnt take a look at your location)
                              Blowing off roof tops, Tree trimming, pressure washing...etc...

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