Any tips on good companies, cheaper rates? Thanks for any help
thanks for the help, I was also looking for painting contractor insurance its help me alot in selectingI go through an independent insurance agent and have my policy with the Contractors Bonding & Insurance Company (CBIC).
General liability insurance coverage of $2,000,000 ($884) and a bond of $15,000 ($150) per year.
I'm rated on doing interior painting only.
:blink:So I got my state farm quote today. General liability 1,000,000 / 2,000,000 $279 for the year.
Do you need 5 mil in the umbrella? I have 1 mil.kmp said:Alot of commercial g.c.s are requiring an additional insured which is another $100or so per job as well as an umbrella policy which just cost me another $750 per year for a 5 million dollar policy.
I rank insurance cos. right there with lawyers and architects.Below whale s...
Ask the Sandy survivors what they think about ins. cos.
It all depends on your exposure. If you're a OMS then you might get a policy for $700, but once you have employees, blanket additional insured, etc it goes up. It does pay to shop around though. My co I had for the last 3-4 years kept going up so I looked around this year and saved almost a grand. Nice. Of course I noticed after the fact that my deductible is now a grand, so I hope nothing happens!Lambrecht said:You getting screwed on your insurance. Yours sounds like basic run of the mill paint contractor insurance which should be around 6- 700 a year. I would suggests spending a little time and finding a different company.
The few contractors that we sub for require us to list them on our policy as "additionally insured". We do not use any subs so I don't know how it works from the other direction.I think you will find that is a sub contractor of yours damages something, you will be covered.
That's crazy! I'm gonna have to look at it again to see if thats in there.Gough said:The one to watch for is the "care, custody, and control" clause. I think that's probably the biggest surprise to contractors. In most case, if a contractor damages a client's personal property while it is in the contractor's care, custody, or control, his contractor's policy won't cover it. In other words, if I'm moving their plasma screen and drop it, I'm out of luck. If I put a roller extension pole through it, I'm covered.