Insurance costs poll

[SMRBAP]

I think my ins co is raping me ($8600/yr) but insurance is not my gig so for you guys with multiple trucks (3-5 trucks), a commercial location, that completes cleaning and restoration, and 1-2 mill in liability - what is it costing you, excluding workers comp?

I have used a "friend of a friend" who is an independant and supposedly shopped me around - but I am not real sure my interests are what were the deciding factor in who he chose for me.

 

[AshleyMckendree]

WHHHHOOOOOOOOAAAA.

2 million in coverage for me, 2 trucks, $590.00/year
edit: Shop covered to 500k and equipment covered to 15k, also.

 

[joe harper]

Unless you Have 13 FELONY CHARGES...4 DUI's...& 2 FELONY COUNTS of Insurance FRAUD :?:

I would say that's A LITTLE HIGH :shock:

But beware of a LOW initial quote .......
Because they will AUDIT your GL....& rates will increase based on your GROSS INCOME :idea:


Almost all Insurance Companys now.....Base your RATE on your CREDIT SCORE :roll:

 

[daniel@procarpet]

My insurance for the following:

- 2 trucks full coverage or 50,000 each truck which covers the truckmount and equipment in the truck
- 5,000 miscelaneous equipment for theft on each truck.
- 2 million dollar agregate, 1 million each occurence

cost is 2700 per year

I was paying 250 every 6 months for each truck for basic liability insurance or 1,000 per year. Again this was not for full coverage. Then I was paying 700 per year for my commercial insurance policy which did not even include covering my truckmounts.

My cost is now 1000 more per year and I have full coverage on all my equipment and trucks. I think this is a good deal.

The guy paying 579 a year. That sounds way too low.

 

[renegade_cowboy]

I am looking at $1200-$1400 a year. I am still talking with other compaines.

 

[steve g]

myself as an o/o I am paying $63/mo for 1 mil in general liability. I am also paying $120/for my 06 dodge ram and cargo trailer with truckmount in it, and 94 dodge ram with truckmount. so 2 vehicles one trailer 2 truckmounts, that is about $2200 a year, give or take, I think you are getting hosed.

 

[Out of Character - 0]

We pay about 7,500 per year for similar coverage, we do not do restoration.
Our insurance is not my responsibility but I know my partner undoubtedly shopped for the best bang for the buck. Premiums are based on desired coverage and payroll from what I understand. We have had low baller insurance hacks try to sell us coverage that didn't permit work in business during business hours and other "coverages" that offer no more than an insurance certificate and a tax write off.

Our payroll is around a $500,000. $1mill x 2 occurrences + $45,000 in misc equipment coverage.