Insurance? (UPDATED)
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Not to sound like a smart alek, but did you call many insurance companies for quotes? And you also have alot more questions to answer to in regaurds to your business type to the carriers, so such a general post is most likely unanswerable.irving said:
Let me try it this way.. "Does any one on this forum have general liability coverage they feel is a good value? If so, can you let me know who their carrier is?"
Really, thats all I'm looking for man.
Thank you in advance for a helpful answer, instead of a waste of time.
Really, thats all I'm looking for man.
Thank you in advance for a helpful answer, instead of a waste of time.
Hello Irving,
Without even knowing where you live it would seem hard to compare rates to anyone elses. What type of work do you do? I personally get my insurance from a Upstate NY company called Dryden Mutual. Don't know if they deal with your state or where your state is. If it is in the US for that matter. So maybe you can see GPI's point.
Without even knowing where you live it would seem hard to compare rates to anyone elses. What type of work do you do? I personally get my insurance from a Upstate NY company called Dryden Mutual. Don't know if they deal with your state or where your state is. If it is in the US for that matter. So maybe you can see GPI's point.
Good heavens I should hope so.irving said:
"Their" carrier? Can't help you - I only know who mine is. And that information is of no use to you, thousands of miles away and in a different market.irving said:
You don't need to find a carrier (or insurer) you need to find a good "agent". Carriers (insurers) don't deal directly with the insured (you). Finding out what agencies are serving your local competition is what you need to do.irving said:
Edited 
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sorry Irving, I really don't like to post under any name but my own, but the post you wrote obviously needed to be edited. And I'm also sorry I didn't notice you had informed us that you live in TX in your first post.irving said:
But (anyone with a couple of brain cells) would know insurance varies greatly from trade to trade, and often even inside the same trade. For example, my insurance is XXX because i hang mostly paper, and do residential repaints. If I also painted water towers and bridges, I would have to find a specialty carrier for my insurance, and the price would be dramatically higher.
And after checking your profile, you didn't even fill in your contracting trade, so how are we supposed to know this?
All we did was ask for a little more info to help you with your question. You chose to answer with:
And it went downhill from there. Please feel free to re-ask the question, with more info, and I'm sure someone will be willing to help you. And if you wish, i will delete your post that I had to edit.
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Irving, It goes like this. There is a minimum that is required by your area for whatever license you have, this amount is usually lower than what is acceptable. When I started subbing, all of the contractors required a min. of $600K. When I moved up into upscale homes, I bumped to $1M. As I aquired more employees (more potential for accidents). I went higher still.
Hope that this is what you were looking for or at least an explanation of one reason that it is difficult to answer your question .
Hope that this is what you were looking for or at least an explanation of one reason that it is difficult to answer your question .
INsurances are often times based on either payroll or on sales. WC is almost always based on payroll. Basing insurance on payroll is nice because it allows us to properly budget when we are estimating. I, for one, put dollar for dollar into a reserve account so when my insurance comes due I am not suffering. I think I pay something like 29% for GL and 37% for WC.
Another thing to know is that insurances will vary based on your classificiation (trade) and experience. A new business usually gets a maximum rate, while an older business with zero claims usually is allowed lower rates.
My suggestion is do a google search for insurance brokers in tx and start working the phones asking for quotes.
Another thing to know is that insurances will vary based on your classificiation (trade) and experience. A new business usually gets a maximum rate, while an older business with zero claims usually is allowed lower rates.
My suggestion is do a google search for insurance brokers in tx and start working the phones asking for quotes.
I live in central PA. I'd never think of posting on the internet to find a good restaraunt in my area that gives generous portions for a good price. A guy in Wisconson or Florida wouldn't have a clue what types of food I like to eat and what restaraunts exist in my area. This insurance question is nearly the same situation.
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md, The Speckled Perch in Okeechobee serves the biggest, baddest steaks this side of El Paso. LOL
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