Liability Insurance

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Bill B

New Member
Just received an invoice for my 2002-2003 commercial liability insurance. It nearly doubled from last year. A note came with the invoice - that rates are skyrocketing because of 9-11. Always trying to be positive, I thought this may keep away some of the less than totally committed competitors. But I am smart enough to realize that some folks in the residential markets probably don't carry insurance anyway!

Anyone had a similar sticker shock this year?
 
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Dan S

New Member
Mine went up too >>>>> about 600.00 more per year >>>
they say that they go by your income now >>>>> I dont agree with that >
 
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HarQuin

New Member
I too have recently got my new policy...but no increase in premium. I have the shop and contents with the GL coverage. If they raised it that much...I would be shopping!!
 
Dave Olson

Dave Olson

New Member
Hello Bill B,

We just started a new policy year. No changes to speak of on any of our coverages!

Dave Olson
 
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Dan Flynn

PWN Founder
Bill who are you using? We might be able to help you or at least give you some ideas. I would run from the company your dealing with.

I think I know who your using!
 
Aplus

Aplus

New Member
My agent said power washing falls into a category called "non-standard insurance" In other words, it doesn't quite fit into standard categories such as painter, mason, lawn cutter, etc....

He went on to say the non-standard industry segment was hit the hardest with insurance premium increases.

My homeowners insurance, which is with a competely different insurance agency, went up over 20%.

Geography may play an important role in whose costs went up, and how much. Most states have their own insurance industry regulations, which may cap the increases an insurance company may charge.

Just a thought...........
 
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Dan Flynn

PWN Founder
Good point Tony,

I do remember that our catagory falls under a 4 or 5 and 5 being the highest risk. Which means higher insurance cost for us.
 
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Bill B

New Member
Dan, et. al., I use a local agent (pretty good people). Coverage underwritten by Scottsdale Insurance Company. Nearly doubled to $1560 per year.
 
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Dan S

New Member
Ours is pretty close to the same amount Bill <<>>

I know you meant the "other" Dan but I answererd anyways !!!!!!!

I called around for A better rate and One place was about the same amount >>> but decided to stay with who I was for 7 years >

So who sells insurance?
 
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DanKes

New Member
Insurance

It definitely pays to shop. I recently changed to Erie Insurance, and for a 1 million $ per occurance policy, including inland marine, is $460.00 per year. This is down from over a $1000 with my previous company.
 
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Flue Steam

New Member
Okay, I'm confused, Inland Marine insurance on your commercial liability policy? Do you pressure wash from your boat or do you take your clients fishing?
 
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