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Topic:
who do you guys use for business insurance
This thread has 16 replies. Displaying posts 1 through 15.
Post 1 made on Tuesday August 29, 2017 at 11:03
gerard143
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Curious who is good with our industry and what kind of monthly rates yah'll are seeing ballpark.
Post 2 made on Tuesday August 29, 2017 at 22:59
AnilAppleLink
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Prices vary if you want workers comp or not but for straight $1M liability insurance for business doing AV Install work without high ladders around $500-$900 a year.
--
Thanks,
Anil A. Apple Communication LLC. www.apple-link.com Pro-AV - Pro Lighting - Networking - Security Cameras - Home Theater For all your low voltage cabling needs
Post 3 made on Tuesday August 29, 2017 at 23:38
brucewayne
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I use the Hartford.

It's like $700 for your standard 1 million. But I pay another $200 a year to cover any equipment in transit. It covers if anything happens to equipment at my office, house or van. It is worth it to spend extra for more coverage.
brucewayne
OP | Post 4 made on Tuesday August 29, 2017 at 23:57
gerard143
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this commercial job I was asked to come in on they want general liability, workers comp, disability, umbrella for 2 million, list them as additional insured, list them as certificate holder, endorsement showing waiver of subrogation, cg 2033/cg2010 endorsement, cg 2001 endorsement, lien and waiver release, w-9.


christ. idk if the paperwork is worth the hassle for a lousy $1000 profit on this job. giving me a headache already. idk what half this shit even is lol.
Post 5 made on Wednesday August 30, 2017 at 03:08
AnilAppleLink
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On August 29, 2017 at 23:57, gerard143 said...
this commercial job I was asked to come in on they want general liability, workers comp, disability, umbrella for 2 million, list them as additional insured, list them as certificate holder, endorsement showing waiver of subrogation, cg 2033/cg2010 endorsement, cg 2001 endorsement, lien and waiver release, w-9.

christ. idk if the paperwork is worth the hassle for a lousy $1000 profit on this job. giving me a headache already. idk what half this shit even is lol.

This is all pretty standard for some commercial jobs. But the workers comp may put you in the red.

Ask them for a sample certificate of insurance. That will make it easy for you to send to insurance companies for pricing. In the end it may not be worth it. Paperwork and office fees can sometimes cost as much as the project itself in a case like this.
--
Thanks,
Anil A. Apple Communication LLC. www.apple-link.com Pro-AV - Pro Lighting - Networking - Security Cameras - Home Theater For all your low voltage cabling needs
Post 6 made on Wednesday August 30, 2017 at 03:09
AnilAppleLink
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On August 29, 2017 at 23:38, brucewayne said...
I use the Hartford.

It's like $700 for your standard 1 million. But I pay another $200 a year to cover any equipment in transit. It covers if anything happens to equipment at my office, house or van. It is worth it to spend extra for more coverage.

I use Hartford as well.

Does that extra $200 cover theft and up to what amount? Is there a deductible?
--
Thanks,
Anil A. Apple Communication LLC. www.apple-link.com Pro-AV - Pro Lighting - Networking - Security Cameras - Home Theater For all your low voltage cabling needs
Post 7 made on Wednesday August 30, 2017 at 04:39
buzz
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My agent charges a fee for sending out insurance certificates, YMMV. I factor this into my job costs. This is a standard requirement for most high rise jobs. If I have multiple clients in the same building, only one certificate is required.
Post 8 made on Wednesday August 30, 2017 at 07:43
vwpower44
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I work in serval High Rise Condo buildings and most of them require 5 mill. My liability and auto insurance is with the same company so I get a discount. We are paying $895 month, plus Workers comp of $480. It's awesome paying around $6000 a year in just insurance.
Stay Hungry, Stay Foolish...
Post 9 made on Wednesday August 30, 2017 at 08:31
brucewayne
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On August 30, 2017 at 03:09, AnilAppleLink said...
I use Hartford as well.

Does that extra $200 cover theft and up to what amount? Is there a deductible?

Yes,it covers theft. 15k if it's in my van. 5k if it's in my office or house.
1k deduction

It called contractor stretch policy. It covers a few other things Also.
brucewayne
OP | Post 10 made on Wednesday August 30, 2017 at 10:48
gerard143
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On August 30, 2017 at 03:08, AnilAppleLink said...
This is all pretty standard for some commercial jobs. But the workers comp may put you in the red.

Ask them for a sample certificate of insurance. That will make it easy for you to send to insurance companies for pricing. In the end it may not be worth it. Paperwork and office fees can sometimes cost as much as the project itself in a case like this.

Ok thanks
Post 11 made on Wednesday August 30, 2017 at 14:49
AnilAppleLink
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On August 30, 2017 at 04:39, buzz said...
My agent charges a fee for sending out insurance certificates, YMMV. I factor this into my job costs. This is a standard requirement for most high rise jobs. If I have multiple clients in the same building, only one certificate is required.

You are getting robbed they should not charge for certificates.
My company does not charge for certificates. Thats what I am paying insurance for.
--
Thanks,
Anil A. Apple Communication LLC. www.apple-link.com Pro-AV - Pro Lighting - Networking - Security Cameras - Home Theater For all your low voltage cabling needs
Post 12 made on Wednesday August 30, 2017 at 14:53
AnilAppleLink
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On August 30, 2017 at 08:31, brucewayne said...
Yes,it covers theft. 15k if it's in my van. 5k if it's in my office or house.
1k deduction

It called contractor stretch policy. It covers a few other things Also.

Sounds good.
$1K Deductible sounds a little high though, I would pay a couple dollars more to get that down to $500. My home and office insurance covers all the items in those locations. Im more concerned with in the vans and on a job site.
--
Thanks,
Anil A. Apple Communication LLC. www.apple-link.com Pro-AV - Pro Lighting - Networking - Security Cameras - Home Theater For all your low voltage cabling needs
OP | Post 13 made on Wednesday August 30, 2017 at 17:04
gerard143
Advanced Member
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956
just got a quote a thru geico (using utica direct (which doesn't charge for each certificate issue) 1020 a year for general liability only (1 mil). ouch.

my quoting continues...


Hiscox only wants $326 a year for 3 mil general liability. Killer price. But they will not offer a primary non contributory wording endorsement that this contractor wants (cg 2001) which i guess says in the event of a claim they won't ask the contractors company to split the costs. I have to imagine most insurance companies aren't going to want to offer this. They also charge fees when you need endorsements and certificates. First endorsements free any more $50. Certificate $35.


hmmm my quoting continues...

liberty mutual $867 for 1 mil general liability

workers comp- the hartford. 1 mil coverage, single employee, min wages listed (35k a year) $4,111 a year. thats insane wow.

Last edited by gerard143 on August 30, 2017 18:45.
Post 14 made on Thursday August 31, 2017 at 06:19
Hasbeen
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November 2007
5,273
Back when I needed GL insurance I paid $798 per year.  $2M policy.  Allied Insurance (subsidiary of Nationwide).
Post 15 made on Thursday August 31, 2017 at 07:46
vwpower44
Super Member
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Your guys insurance seems too cheap, have you ever tried to use it?
Stay Hungry, Stay Foolish...
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