Insurance

[Sore back jim]

I'm in a situation 15 years away from retirement and a non tree-related job. I want to start a part-time business doing free work that my teenage boys would eventually be able to take over. What's a typical annual insurance premium if anyone's in the Ohio area or Midwest​

 

[Sore back jim]

I'm in a situation 15 years away from retirement and a non tree-related job. I want to start a part-time business doing free work that my teenage boys would eventually be able to take over. What's a typical annual insurance premium if anyone's in the Ohio area or Midwest​

Sorry about Typo- tree work, not free work

 

[sundance]

Sorry about Typo- tree work, not free work

I'm not in the business but I suspect some more detail on the proposed business would be necessary for anyone to even try to answer.

 

[Luztree]

Sorry about Typo- tree work, not free work

2,000-3,000 a year for 2 million liability. 20-22 per hundred for workman’s comp. 800-1,200 per truck for just liability. More for new trucks that need comp/collision

 

[Sore back jim]

2,000-3,000 a year for 2 million liability. 20-22 per hundred for workman’s comp. 800-1,200 per truck for just liability. More for new trucks that need comp/collision

Great info
Any suggestion on company for the business liability?
I've reached out to a couple of the big names and they don't want to touch it

 

[Luztree]

Great info
Any suggestion on company for the business liability?
I've reached out to a couple of the big names and they don't want to touch it

Farm family insurance company

 

[ATH]

Talk to local independent agents. I had no trouble finding somebody who would help find a policy for tree work...until they heard I needed a pesticide endorsement in addition to the regular policy.

Currently with West Bend. Was with Westfield previous to that. The Hartford had options when I was shopping.

There is also ArborMax...but when I reached out to them, I could never get somebody on the phone. I figured if it is that hard to talk to somebody so I can send them my money (buy insurance), how hard is it going to be to talk to a person when I need their money (file a claim)? But I know others have said good things about them, so maybe that was a bad week...

A good independent agent who specializes in business insurance should be able to help. I'll PM with the contact info for my agent. They are in Ohio, but not central OH...but I gotta think they'd still be willing to work with you.

https://www.tcia.org/TCIA/TCIA_Memb...bsiteKey=b9a41e1f-978d-4585-9172-c411c78c5c14

 

[mikewhite85]

Yeah, reach out to the people who already do your homeowner's insurance and go from there. Get a minimal gen/ liability policy, which you could probably do for 800-1200.

If you establish an LLC and make your sons part owners you wont need to carry workers comp, which is way more expensive than liability. We're about 22% in PA, which is still a far cry from what I paid in California- around 50%. Of course, if you hire additional employees you will need WC.

A more important question I have for you though is what kind of professional experience do you have in arboriculture prior to starting this business? If you do not have at least several years of full time experience in this exceptionally dangerous business, I encourage you and your sons to apprentice with a seasoned arborist first. There was a local guy around here who died in front of his two sons a few months ago. Be safe!

https://www.tiogapublishing.com/pot...cle_e8eb294b-fe77-5f13-8082-837a805492f4.html