What % of gross do you spend on insurance?

[ACE]

I have been agonizing about carrying full coverage on both of my old truck mounts and how much property insurance I need. I know there are allot of variables but wanted to get a feel for what others are paying for:

General liability, workers comp, property, auto and unemployment.

= 3.7 % of my gross, if I carry full coverage and a far amount of property ins.

 

[Lee Stockwell]

UI and WC are a direct function of labor cost, not gross income.

 

[ACE]

UI and WC are a direct function of labor cost, not gross income.

True. My insurance company also bases general liability off of gross payroll / contract labor.

It just easier for me to think of expenses in terms of % of gross sales.

 

[Desk Jockey]

For what you're asking 3.3%