General Liability Insurance

mcexcavating

How much do you pay for general liability insurance? How do you get audited?

dougchips

$1200 A year and part of that is my theft policy for tools, 1 mil limit

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denick

MC,

For our excavation it's 10.062 % of payroll. Audited the month after the end of the policy period by an auditor who comes to the office.

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Nick

"Every day I remind myself that my inner and outer life are based on the labors of other men, living and dead, and that I must exert myself in order to give in the same measure as I have received and am still receiving" Albert Einstein

dougchips

Denick, are you quoting comp rates or general ?

My comp is about 10%, but general is fixed unless I have a claim.

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denick

That is my Liability rate we had about 160,000 in payroll last year.

Comp is also a % of payroll

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Nick

"Every day I remind myself that my inner and outer life are based on the labors of other men, living and dead, and that I must exert myself in order to give in the same measure as I have received and am still receiving" Albert Einstein

dougchips

Last year I paid $1200 for the year for my general policy including tool theft. My payroll was a little over $550,000. My subs have their own policies that cost a little less than mine. I am keeping my ass in Mass!
We must be called "taxachuchetts" so other business' will stay away. Cheap permits and cheap insurance! God bless this liberal state!

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Melissa

We pay $2,400/yr for liability coverage. We've never been audited.

Mykey44

I pay $3600 A year and get audited once a year.

denick

doug,

It might be the difference between spilling a can of paint on someone. And pulling out a gas main and blowing up the house next door with the whole family in it???

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Nick

"Every day I remind myself that my inner and outer life are based on the labors of other men, living and dead, and that I must exert myself in order to give in the same measure as I have received and am still receiving" Albert Einstein

dougchips

That makes sense. With dig safe are there enough of those big claims to warrant you cost? Do you think it is a fair price for you industry.

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denick

I don't know about other states but it is the lowest rate we have been quoted in quite a few years. Dig safe doesn't do as good a job as you think. Almost any scenario you think about in backfilling and trenching will cost thousands and then the civil suits ??

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Nick

"Every day I remind myself that my inner and outer life are based on the labors of other men, living and dead, and that I must exert myself in order to give in the same measure as I have received and am still receiving" Albert Einstein

dougchips

Speaking of Dig Safe, never ever ask a customer to call them. I learned a bad leason ----customer quote "I know you said to call but they don't have a 800#"---he said he called. 1-888-dig-safe.

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maj

$3,000/month for GL
98.76% of payroll for WC
$12,000/year for T&E
















And never been audited

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PipeGuy

Amen brother. How any GC can look a sub in the eye and in good conscience feign ignorance about who exactly is at greatest risk in regards to liability should a problem arise (especially while they're in the mddle beating the crap out of the sub over one-half a percnt the value of a change order) is beyond me. It's the sub, at the botom of the heap, that's taking the money hit long before anyone else.

FYI-Depending on the GL classification we're talking about, Denick's rate is about 30% better than mine.

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denick

doug,

On dig safe. In Conn. Dig safe only is applicable to the person or company who calls. If a GC, trade or Homeowner calls and gives them their name and they are not the one doing the digging the person doing the work is not covered.

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Nick

"Every day I remind myself that my inner and outer life are based on the labors of other men, living and dead, and that I must exert myself in order to give in the same measure as I have received and am still receiving" Albert Einstein

Leo G

Nothing like paying for your employees twice.

You are kidding, right??

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