# Insurance???



## SteveR (Sep 24, 2003)

Can some of you give me some advice on insurance? I will start with my history with mine, I have been with them for about 3 years now and have had 1 vehicle claim for 9K and a liability claim for $6300 cause my salt shed somehow came down last winter while we were loading. My premium has run around 18-20k a year (includes workers comp).
So I get a letter in the mail the other day that basically says that they will not renew me because I have these 2 claims and I do commercial plowing. Now I do understand I had claims but, they still made money off me. My previous history has had some vehicle claims but, who in this business hasn't had those. Not excessive tho I think 3 small ones since 01 when I formed my LLC. Next question, they wanted copies of my contracts, do any of you provide them to your insurance carriers??

THANKS


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## hoskm01 (Oct 17, 2008)

Insurance companies must gauge their risk, hence wanting to look at your contracts (how are they to know what you're signing up for?)

If your salt shed (real estate/building) came down, why was that claimed on your auto policy? Maybe you have them through the same company, but if you could have kept claims on seperate policies, you could have been better off (at least not gotten cancelled.)

Not knowing how many employees or vehicles you have, 18-20k per year could be an exorbitant or fantastic price.


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## grandview (Oct 9, 2005)

They are canceling you now before the big claim comes in and they don't want to be on the hook for it.


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## SteveR (Sep 24, 2003)

Yes the claims were on separate policies, one vehicle one liability. And I have 1.5 full time employees. My wife and I both work but don't take a paycheck so we don't count as employees. As far as contracts I write my own as a rule, I refuse to sign contracts that make me liable for things that I don't control. I see their wanting to see them as a way to see my income and judge my rates on that not my history. I have had only 1 liability claim ever since I have been in business.


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## grandview (Oct 9, 2005)

I don't have workman's comp or employees ,but that premium seems pretty high,have you shopped around later?


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## Camden (Mar 10, 2007)

I just want to make sure I'm clear on this...you are paying 18 *THOUSAND DOLLARS* for general liability, workmans comp and commercial auto? And you only have 1 full-time employee? You are getting absolutely raked over the coals.

I don't even pay 1/3 that amount. I've also had a couple claims but I've never been found to be at fault so maybe that's the difference.


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## MatthewG (Jun 16, 2009)

^^^ What the heck is going on here? 18K? Ummmm......


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## T-MAN (Jan 9, 2001)

GL is based on your gross, and comp is based on payroll. If you are doing 500k with subs 18k is low. What do you have your 1.5 employees on comp for ? If you do roofing rates are huge for comp. Until your experience rating goes up, grab your ankles. Do you have a bunch of comp claims as well ? I dont see much of a difference showing your contracts versus's a yearly insurance audit . . .


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