Insurance question

[daniel@procarpet]

I need to call my insurance rep tommorow but I wanted to get a feel for what some of you pay for doing multiple service such as tile, rugs, repairs, carpet, upholstery, wdr. etc. I do very little wdr if that helps. I do quite a few rugs but mostly carpet. I was more concerned about my equipment. Just trying to get a feel for things.

 

[Farenheit251]

Gen Liability $600 for 600.000 coverage-covers slip/falls and breaking something but not what you are cleaning
Care/custody/control covers what you are working on ex. carpet/furniture I was quoted $100 per $1000 coverage, since I mostly do rentals/restaurants and havent ruined anything in 17 years I chose to decline and self insure. I do choose to decline furniture and rugs when in doubt or at least get a set value before I decide whether to proceed. Truth is I never did enough furniture to get really comfortable with it.
Truckmount Insurance-When I looked at the cost I realized I needed to total my TM every 8-10 years to turn a profit. Short of a fire it is pretty hard to total a TM and still be physically able to clean carpet after the accident. I wish I had bought a Judson from a van that rolled 4 times-it was still perfect.

I am not against insurance. I carry extra liability on my vehicle because liability in an accident could wipe me out. I just find the little insurances to be overpriced. I looked at lowering my boys car deductibles from 1000 to 500 and it raised the rate $200/year. If they don't crash at least every 2.5 years it is a bad deal. I'm looking at raising my home deductible to $5000,if I have a flood or a fire bad enough to claim I'm going to be doing $5000 work myself anyway.

 

[Guest]

If your concerned about your equipment, make sure to add Inland Marine insurance. Your auto insurance will not cover equipment if you wreck or it gets stolen. I paid I believe around $350 for it. That is what will help you sleep better at night, along with Gen liability etc..

 

[daniel@procarpet]

I pay 285 monthly and that includes full coverage on my two vans up to 50,000 which would also include the truck-mount. My broker said the machine could not be insured by itself becasue it was bolted in the van. It also inlcudes 3,500 dollars for theft of tools and 1,000,000 dollar coverage 2 million aggregate. MY question is about rugs and tile. Do you have to pay extra for each service you provide? I would hate to damage a tile floor and them tell me I am not covered. I agree with the above post. I know what to look out for and if I feel uncomfortable cleaning something I will get a waiver or pass on it. I passed on a rug for the first time this year. It was a severe bleeder full of dog urine and the cleaning of it 4x6 was only going to be 125 dollars so I passed.

 

[Askal]

Just switched. about 10K a year for 3 trucks, shop, pollution liabilty, proffessional liability, care custody control waiver, inland marine, and equipment. 2mil aggregate and 1 mil occurance.
Al