Insurance question . . . all advice appreciated

[Dave Goodwin]

Hello all, I need some advice in regards to insuring myself (and my assets) against that one in a million accident while doing tree work. I am taking the steps I can to legitimize my business, and although I believe myself to be skilled, Id like pick up an emergency policy to cover myself should the unthinkable happen. So where should I start looking for an insurance policy? How much can I expect to pay on a policy? How much coverage is a "safe" amount? Etc.

As always, any and all advice is greatly appreciated. Thanks. -Dave from CT.

 

[BC WetCoast]

Not that I can help you being from Canada, but to clarify are you talking Worker's Comp, general liability or automotive or all three?

 

[Pelorus]

Also from Canada. Are you wondering about a disability insurance policy to cover yourself if you get whacked? (a necessary evil that I'm grateful to have benefitted from). My business liability insurance covers 5 million of inflicted carnage and destruction. Had to get that much to be able to do work for local Town.

 

[Dave Goodwin]

Not that I can help you being from Canada, but to clarify are you talking Worker's Comp, general liability or automotive or all three?

I am looking for a general "oh ****" policy to protect the homeowner from damage costs and myself from losing my home with a lawsuit. Automotive coverage is a non-issue for me, and I haven't delved into workmen's comp yet. Still figuring that out . . .

 

[Dave Goodwin]

Pelorus, I don't need workmen's comp. bc I have it through my full time job. This is something I am trying to grow in addition to full time work.

 

[Pelorus]

I kinda have my doubts that your (employer's?) Worker Comp coverage would extend to cover you getting whacked whilst pursuing your own little side jobs. (my previous post referred to private disability insurance coverage that is 24/7, and doesn't matter where or how you get injured.) In CT do you have to have Worker's Comp coverage to operate a tree biz? btw, in Ontario, you are not mandated to have WSIB coverage as a Schedule 2 company unless working on a construction site.

 

[pro94lt]

Dave you are mistaken... your employer is paying for you and only when you are working for them. All I can say is good luck

 

[mike515]

A few thoughts on this....I think what you're talking about is going to be your General Liability policy. Here in the my state you will have a base cost and that will go up based on revenue. The idea is...more business=more liability exposure. Work Comp......As stated in a prior post, your employers Work Comp policy will absolutely not cover an injury while working on your own. Work Comp (if you decide you need it later) will be based on your payroll.

Now....terminology and mentality....accidents are not "one in a million" in this business. They happen somewhere every single day. It's why insurance costs so much for the rest of us who don't have claims. And they are certainly not "unthinkable" either. Most of us with any kind of a decent track record think about that every day and try to be as safe as possible. Not trying to bust your balls but the reason some of us do have good records is because we think about it all the time. You should too. As soon as you start thinking about accidents as unthinkable or unlikely.....that's when you're going to be in trouble.

Good luck. Work safe!

 

[ropensaddle]

I am looking for a general "oh ****" policy to protect the homeowner from damage costs and myself from losing my home with a lawsuit. Automotive coverage is a non-issue for me, and I haven't delved into workmen's comp yet. Still figuring that out . . .

Vaseline helps

 

[OLD OAK]

Pelorus, I don't need workmen's comp. bc I have it through my full time job. This is something I am trying to grow in addition to full time work.

You have no idea how insurance works if you thing your covered from your full time job, i mean that is just stupid. Find a insurance agent in your area that handles commercial insurance and go from there. No one should hire you if you don't have General liability and Workers comp ( yes you need it if you are the owner and the worker ) and in my state VA if truck is used in a business you need Commercial auto. If your in a wreck and using it in a business you just might not be covered, Insurance companies are not in the business of paying money out if they don't have to.