zsteinmetz
ArboristSite Operative
Been looking into liability insurance and it is enough to scare a guy. $1700 a year for $600,000 is quite high I would say. What are some of you guys paying?
insurance costs
- Thread starter zsteinmetz
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TDunk
Addicted to ArboristSite
I'd definitely shop around if i was getting quotes like that. I'm paying under $1000 for 1 million. Might be 2 million but i'm not real sure. Plan on paying that all up front too. I haven't found one yet that will finance.
Wolfking42084
ArboristSite Operative
$865 for 1 million. I just renewed yesterday as matter of fact. That seems really high.
Mike Cantolina
Addicted to ArboristSite
Mine is $1700/million but I know it is more because I'm incorporated. I can pay it in 4 payments but they are monthly right in a row.
zsteinmetz
ArboristSite Operative
T dunk and Wolf King are you guys sole proprietors or an llc?
Norwayclimber
ArboristSite Operative
We pay about 240 $ for 1,4 mill $ 
The low cost we have here in Norway might have something to do with out tradition of talking before sueing... (and of course the fact that arboriculture is a fairly new trade here, so the insurancecompanies don't really know what to charge)
The low cost we have here in Norway might have something to do with out tradition of talking before sueing... (and of course the fact that arboriculture is a fairly new trade here, so the insurancecompanies don't really know what to charge)
outofmytree
Addicted to ArboristSite
Sigh. $1300 for $10 million. You cannot start a saw in Australia with less than $10 mill cover, at least not on any Govt site.
On the plus side, with the way the exchange rate is going my insurance costs about as much as a jug (pitcher) of beer in the US.
On the plus side, with the way the exchange rate is going my insurance costs about as much as a jug (pitcher) of beer in the US.
TDunk
Addicted to ArboristSite
I'm a sole proprietor right now. I've just started looking into going to LLC. I haven't gottan a whole lot of info. on it yet, but i think it costs like $350 to become a LLC and still trying to see if it's worth doing for all the bigger i am.
John Paul Sanborn
Above average climber
It is also based on your gross revenue, so many comparisons are apples to crabapples. Since I'm a much smaller company, I will pay less under a duplicate policy.
I'll see if my agent can write in your state, then get back to you. He cut my cost by near 1/3 increased coverage and got a Errors and Omissions (E&O) clause in the policy. The dreaded "you missed a defect and I'm suing" coverage.
I'll see if my agent can write in your state, then get back to you. He cut my cost by near 1/3 increased coverage and got a Errors and Omissions (E&O) clause in the policy. The dreaded "you missed a defect and I'm suing" coverage.
Sunrise Guy
Addicted to ArboristSite
SAFECO, here, $1500 for $.5M, covers spraying and lift work, can pay month-by-month. A bit high, maybe, but the best deal I could get in Texas, and no hassles with them, so far. I tried out of town providers and the guys who advertise in TCIA and ISA but it seems that they can't get licensing in Texas.
Wolfking42084
ArboristSite Operative
The first year I was in business, mine was about $1400 for one million. Going on 6 years of having insurance and like I said was like $865. It has gone down every year since and the more workers I put on it, the cheaper it is. 2 years ago I met my wife and decided to get 1/2 a million in life insurance added to it to. That only made it go up about $90.
John Paul Sanborn
Above average climber
squad143
Tree Guy
Definitely go for an errors and omissions clause. CYA.
Dalmatian90
Addicted to ArboristSite
Something I noticed when I had insurance for my freelance computer work (didn't do enough to justify the expense) that impacts the costs is "occurence" v. "claims made."
Occurence basis covers claims that arise from your actions while the insurance is in effect -- especially for stuff like E&O that could be important because it could be years down the road before someone realizes the mistake.
Claims Made covers claims that arise from your actions while the insurance is in effect and must be made while the insurance policy is still in effect
So claims made is fine for the situation when you drop a tree on someone's house by mistake no problem. That's gonna generate a claim right away.
But some stuff takes years -- I'm guessing something like you used a cable that was inadequate to current ANSI standards when you installed it and it fails causing damage -- wouldn't be covered if it was "claims made" and you no longer had that insurance policy. It should be if you had "occurence" basis insurance...even if you long ago dropped that policy.
Occurence basis covers claims that arise from your actions while the insurance is in effect -- especially for stuff like E&O that could be important because it could be years down the road before someone realizes the mistake.
Claims Made covers claims that arise from your actions while the insurance is in effect and must be made while the insurance policy is still in effect
So claims made is fine for the situation when you drop a tree on someone's house by mistake no problem. That's gonna generate a claim right away.
But some stuff takes years -- I'm guessing something like you used a cable that was inadequate to current ANSI standards when you installed it and it fails causing damage -- wouldn't be covered if it was "claims made" and you no longer had that insurance policy. It should be if you had "occurence" basis insurance...even if you long ago dropped that policy.
zsteinmetz
ArboristSite Operative
for you guys that have reasonable liability insurance who is it through? Progressive, state farm, geico ?
tree md
Addicted to ArboristSite
Same here. Mine is through UPAC.
zsteinmetz
ArboristSite Operative
$1400 quarterly yikes!!!
zsteinmetz
ArboristSite Operative
Oh sounds much better. Which company seems to have the lowest rates among you guys?
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