Liability Business Insurance

[Dadatwins]

Anybody know of good insurance company that still takes tree policy. Had state farm years ago in NY and when I tried to get policy in VA agent told me they will no longer insure tree companies. Even tried online getquote.com and came back no way for tree companies. Are we that bad off no one will insure us? Trying to get it for stump business liability and some contents coverage. Thanks.

 

[Dadatwins]

Stopped in local place and thought guy was going to throw me out when I mentioned tree work. Took info and put in search but no takers yet. Might be area I am in? Maybe lots of claims? I don't know never made claim years ago , never needed too. 800+ a lot of nuts to gather up I can't wait to see quote here.

 

[NeTree]

Good luck!

Most insurance companies won't even look at us, let alone insure us.

Getting a commercial vehicle insurance policy for a bucket truck here in MA has about the same odds, too.

I'm surprised you're having that hard a time if your only doing stump grinding, though.

Try: http://www.treetrader.com/insuranc.htm

They specialize in tree co's.

Worth a shot.

 

[Dadatwins]

Originally posted by netree

I'm surprised you're having that hard a time if your only doing stump grinding, though.

State farm told me ANYTHING TO DO with tree business they will not touch here. I will try your link though thanks.

 

[YUKON 659]

I just got a renewal quote from Farm Family Insurance for just over $1400/yr.....about $600/yr less than I'm paying now. I had the same problem, very few companies write liability policies for tree work.

Jeff

 

[Matt Follett]

Yep....
We are insured with a high risk carrier, York Fire and Casualty, I'm quite sure its Canadian, so that probably won't help you out, but you could try.

$2400 yr excluding vehical coverage!

Try contacting brokers that carry facility ins. you don't want this, but at least you'll be talking to people you are used to dealing with high risk policies...

I wonder though really how much more risk we are then say a construction company?

My insurance brokers new moniker is "the insurance people you'll hate...less"!! I guess that comes with the times

 

[jmchristopher]

I don't buy it for my company ( some other lucky person does that stuff) but I have seen insurance company reps in regular attendance at both MAC-ISA and PENN-DEL chapter conferences. You might check with your chapter people for companies that they know are looking for your business. Good luck!

 

[ROLLACOSTA]

i have a company employing 5 staff im covered up to £2million for liability and £10 million empoyers liability ,i have so far never had too claim as we have a eceess of £250 my bill this year was a tad under £4ooo by the way thats nearly $7500 you guys think insurance is expensive come other too this side of the pond,anyway dadatwins surely you would get away with a landscaper policy??

 

[Acer]

That's about right for the UK. To employ 1-2 people on £5m PL and £10m EL, mine jumped from £1100 to £4700. Not worth it for the climbing business I was doing. I cut out the climbing and moved on to slightly different work...that kept it down to £1100 again.

I was lucky to even be offered a policy. With only one player in the market, they'll only take on so much liability, so there are not enough policies to go round. Companies new in the business struggle to find insurance now.

 

[Dadatwins]

Can't use landscape policy around here for stump removal ??? Tried that first. I called NAA and they gave me Hartford who gave me a list that I called am still waiting for answer. Email mac-isa & ISA for advice no response yet on either. Can't understand how contractor can get insurance for 10 ton backhoe that would tear up a h**l of a lot more than Rayco 1625 ever would.

 

[Koa Man]

I'm paying about $4100 a year for $350K coverage, $2500 deductible, no coverage for heights over 80 ft. I rarely do trees that are over 80 ft anyway. I need to look for a new company.

 

[Dan F]

Why not find some local company and call them to ask what company they use?

Or, get them to your house on the premise of bidding on a tree, then ask for a certificate of insurance to be mailed/faxed to you. That'll tell you real quick who their carrier and agent is...

That's how Dad found his new agent. He got a quote from his previous insurer, it was (IIRC), $14k for the year, just himself... I gave him the name of an agent that one of our subs uses, he called him and he's only paying just a few dollars per year more...


Dan

 

[Stumper]

Koa, Oooooouuuuuch! You do need to find something else. I'm getting quotes right now for $500,000. Best thus far is $876.25 with $500 deductible. (I asked for higher deductible but this company doesn't offer it for General Liability). I got a quote of $1200 for $1,000,000. The only reason I'm looking at $500,000 is that it is required for a job I'm about to do-otherwise I'd stay at $300,000.

I hate insurance and consider it a blight on our society. At least it is obtainable now-a few years ago I could not find anyone to write a policy for tree work othe than a $5000 premium per year "non-standard" policy.

 

[Koa Man]

I am seriously thinking of giving up my contractor's lic. and not carrying any liability insurance. My residential customers have never asked about insurance and I can still make a very good income without my commercial accounts. They are the only ones that have any real risk exposure anyway.

 

[NeTree]

Are you sure that's a wise choice? Giving up the insurance, I mean.

 

[Koa Man]

Never used it in 20 years. But as is usually the case, bad things happen right after your insurance expires. Maybe I should keep some insurance....like only $100K liability. If you have a contractor's lic, the state requires min. $350K coverage.

 

[NeTree]

I think in your case, I'd just decrease your coverage.

I mean, you'd have to fruck up PRETTY bad to do a hundred grand in damages.

 

[Dadatwins]

I am trying to add it to cover myself against the always possible dingbat that sees machine running and has to get closer look and BANG rock flies out. A shame we have to insulate ourselves from idiots but it is a fact.

 

[Stumper]

Can you even buy $100,000? That is all I ever wanted until this right of way contract hit and they require 1/2 million(0f course there is nothing around to pose a risk ) My limited sources seemed to indicate that 300,000 is sort of the beginning -about 1/2 the responses I got said that their companies didn't write below 1 million. Seems stupid -a big part of risk exposure is assets-ins. considered to be one by the sn....er, litigation attorneys. Small policies would cut down the number of suits because-"Sorry, he really isn't worth sueing."

 

[Lumberjack]

I have $500,000 liability insurance, it runs $1100 a year, with a 1000 deductable.

Around here, that is enough to grind stumps anywhere (no claims in 6 years) and trees at most places. I am not sure but the university in the city might require a 1,000,000, but I dont think so.