Liability Insurance

[Canyonbc]

Wondering what everyone pays for their liability insurance. I am paying $ 1250 a year for my policy but it covers just me....i am working small time for myself to pay for college

what do you guys pay?

 

[CoreyTMorine]

Bout a thousand bucks a year for a million dollar policy. However when i started with my current agent 3 years ago i was at $1275. And the agent before that had my price jacked up to $1400 per year for a million, which is why I left.

I also am independant, with most of my payroll going through other companies.

My workmans comp is 16%, with a $500 start up fee (that is such BS, firken government gotta get their paws into everything).

And the truck and chipper are about $1000 and $500 respectively for pretty comprehensive policies on each.

 

[Sunrise Guy]

I pay $2400/yr. for myself and two workers, covered at $1/2M. When it was just me, I kicked in $750/yr. for $100K. I will be looking around for a better deal next year.

 

[treeman82]

Far more than that.

 

[treesquirrel]

HOLY COW!

Are you guys insured as a tree service? My policy is approaching 5k per year for myself, one full timer, and one part timer.

I also do hardscapes and landscapes but it is the tree work coverage that blasted my rate wayyy up.

You all have unbeleivable rates. Wish I could find that. Perhaps it is the area where I live that drives it up.

 

[mckeetree]

Our lia. ins. runs about $7,000.00 a year. Never had a claim. But here is what you have to watch out for , make sure you are insured as a tree service and not a landscape service or yard service. The rates are lower but you will not be covered if you have a claim. Several years ago we paid $1,700.00 a year for the same coverage then the agent told me we were classified wrong. It went way up when we were properly classified. A company not far from here found out the hard way when thier ins. carrier denied thier claim because they were paying landscape rates. They ended up suing thier agent (not the ins. co.) and at least got 5 years premiums returned but that didn't near cover the claim.

 

[Timberhauler]

My liability insurance is 4 grand a year,and I have 2 million dollars worth of coverage..My workers comp. is 18%...Which means roughly 18 dollars for every 100 I make..It's a rip-off..In ten years I have never used it,and it goes up as time passes.

 

[Blinky]

$860 per year for a $1M/2M arborist policy, that includes uninsured subcontractors. I'm a contract climber and do occasional jobs on my own. Carrier is Nautilus.

 

[Grace Tree]

$630 per year for 1 mil. 2 mil aggregate.
Phil

 

[CoreyTMorine]

HOLY COW!

Are you guys insured as a tree service? My policy is approaching 5k per year for myself, one full timer, and one part timer.

I also do hardscapes and landscapes but it is the tree work coverage that blasted my rate wayyy up.

You all have unbeleivable rates. Wish I could find that. Perhaps it is the area where I live that drives it up.

Shop around. Prices are very different from carrier to carrier depending (I believe) if they have had to pay out on a policy in the same category that you are seeking coverage for. And the agents seem to set their own margins. Yeah, definitely get a bunch of quotes. The underwriters are only bound by the contract they send to you, you don’t get any more or less coverage if you have been with them for 2 or 22 years.

I think my carrier is the same as Blinky’s, also Nautilus. I don’t pay a lot of attention to the name, just that part of the policy that describes what they will and will not cover. Two or three years ago my policy specifically stated that they would not cover damage to a tree that I had worked on if that damage was caused by a fungal infection for which I was the likely vector. They must have gotten burned on something like that; I guess that replacement costs for a bunch of mature trees which died due to a fungal infection vectored by a tree company would be pretty substantial, kind of a funny clause anyway.

 

[NickfromWI]

I notice that some of you are showing 2 coverages, like blinky who wrote: $860 per year for a $1M/2M arborist policy. One of those is liability. What's the other?

love
nick

 

[ropensaddle]

aggregate and incident I believe

 

[Highclimber OR]

all I can say is shop around. I have been quoted 20,000 a year for the same thing another carrier will do for 1200 a year. Never have had a claim since 1965, hope we never do. I have never heard of a "good result" from any insurance claim.

 

[Blinky]

I notice that some of you are showing 2 coverages, like blinky who wrote: $860 per year for a $1M/2M arborist policy. One of those is liability. What's the other?

love
nick

Yep, what RopeNSaddle said... $1M limit per incident, $2M aggregate... Aggregate is the total payout limit on the policy across multiple incidents. Typical for most types of umbrella policies to have incident/aggregate limits.