Thats it I just wanna know what people pay for the minimum state required business insurance for low rise route work. If you pay for the whole year or monthly. I think I want to pay annual so I can save a little green. I’m not looking for the best answer just different ideas and advice would be appreciated.
We don’t have a minimum requirement in the state but I pay $500/year (paid throughout the year, no breaks for full payment up front). That’s for half a million. It goes up a little as you add more. Million is about 575$ I believe. American Family insurance.
I was paying $450/yr for 1Mil general liability. It went up to ~$660 when I added my wife to the policy (we work together as partners). It’s through MMG, and covers us for a range of work including janitorial and window cleaning up to three stories.
The term “business insurance” is a pretty broad term. If you are talking about general liability ins. then it varies according to your area. If you have an honest agent they will give you the most coverage for the lowest premium. Do the research online concerning what is required in your state and READ your policy carefully (sometimes many coverages are added that you do not need)
A good rule for us is 1 mil in coverage. This will satisfy the big companies like Taco Bell and McDonalds and it’s good to put that in your advertising and web site.
Additional coverages you should shop around for like a business auto policy for your service vehicles and of course the dreaded workers comp.
Good luck
John Martin
Waukesha (WI) Window Cleaning
[email protected]
Minimum requirements on every single RFP that I get are 1 mil/2 mil aggregate on the GL and 1 mil Commercial GL on the trucks. If you consider low rise work 6 stories and under, thats what you need here. Some require a whopping 5 mil. No joke…ask Hewlett Packard. Yeah, 5 building complex with windows galore, wait 60 to 90 days to get paid and plus you gotta up your insurance to 5? uh…NAAAAAHHHHHH
Anyhow.
I pay 98 bucks a month and paid almost 500 for the down payment for the GL. Free certs for the GL but my commercial auto carrier was changed and I have to pay 20 bucks a cert for the addy insured up to 20 and any after 20 is free. So really I’m paying 200 more on the auto…which is an awesome policy…its 160 bucks a month, with I believe 300 down (dont remember really) with a 100 dollar deductible for collision and 50 buck deductible for comprehensive. Plus I asked for the most money per day on a rental, and NOT reimbursement (whenever I’ve had an accident its always when I’m broke!).
I used it too. Backed into a stupid 3 foot pylon in the Bank of America parking lot IN THE MIDDLE OF THE PARKING LOT (yeah) and dinged my rear bumper on my Tundra. Would have cost a grand to do on my own. Paid 50 bucks, got a rental for a week, changed cars every day…and even splurged and got a brand new Jaguar for the weekend. OMG, I was going 70 on the frwy and tapped the gas and the little S button…good god it was like a rocket!
