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Discussion Starter · #21 ·
I got 4 different quotes....that was the cheapest one


And I am from NJ, and your 100% correct about the sandy survivors/insurance thing
 

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Paintist
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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.
Do you need 5 mil in the umbrella? I have 1 mil.
 

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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.
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!
 

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Yup. All the contractors want 5 million which is crazy for a painter.Icould see it for aa excaveting company or plumbing or electric or framing but paint.
 

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Delco, Pa
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Im in Pa and pay $95/month for liability ins 500,000/1,000,000. Erie insurance. They are pretty cheap compared to other quotes I got. I also have my commercial auto ins through them and pay $87 a month for 9 months and then 3 months free.
 

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Just want to update what I previously posted. The State Farm rate I got was a mistake Apparently they entered the quote in for the wrong category. The underwriters finally caught it and I got a cancellation notice in the mail.

I saw my agent yesterday and got re-quoted, it came out to $1,200 a year. I knew it was to good to be true.
 

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PinheadsUnite
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Ryan,

Have you read the policy - CAREFULLY.

Can you damage "personal" property and be covered? Will you be covered for mistakes due to your workmanship?

I think you will find that is a sub contractor of yours damages something, you will be covered.

I can't wait for the time when business liability is no longer an issue for me. I have found from experience it's a total scam
 

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I think you will find that is a sub contractor of yours damages something, you will be covered.
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.

Our liability rates have always been based on the number of full time or part time employees, subject to audit each year.
 

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Ryan,

Have you read the policy - CAREFULLY.

Can you damage "personal" property and be covered? Will you be covered for mistakes due to your workmanship?

I think you will find that is a sub contractor of yours damages something, you will be covered.

I can't wait for the time when business liability is no longer an issue for me. I have found from experience it's a total scam
Yes and Yes. I'm not sure about sub contractors but I don't sub anything out anyway.
 

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PinheadsUnite
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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.

Our liability rates have always been based on the number of full time or part time employees, subject to audit each year.
Cliff,

You would know how it works from the other direction if you read your policy.

Oh I know it's a real PITA to do so, and I never did until it was necessary, but when we write a contract we expect those that we have it with to read it. Yet who here has completely read the contract they have with a huge industry known for ripping people off ?
 

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Cliff,

You would know how it works from the other direction if you read your policy.

Oh I know it's a real PITA to do so, and I never did until it was necessary, but when we write a contract we expect those that we have it with to read it. Yet who here has completely read the contract they have with a huge industry known for ripping people off ?
You are right Bill, I have never read it. I think I would rather have a root canal...I have an outstanding commercial insurance broker/agent that I go thru who I trust to read it for me. They handle my workers comp as well. Just can't say enough good things about them.:thumbsup:
 

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how many of you have had trouble because of lead paint? We had to go through hell and back just to get it under $900.00 a year for 2.5 mil, if we said we do lead work most ins co wanted almost 2 grand.
 

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PinheadsUnite
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You are right Bill, I have never read it. I think I would rather have a root canal...I have an outstanding commercial insurance broker/agent that I go thru who I trust to read it for me. They handle my workers comp as well. Just can't say enough good things about them.:thumbsup:
Oh I have had some WONDERFUL agents, but what I found out (the hard way) is that most business liability policies are boil plate and we do not have many choices, except for limits per incident and aggregate and deductibles.

My agent went to bat for me on a claim, but the policy itself was, shall I say "interesting" when I read it. An agent can't do anything about the wording. It's just nice to know what you can expect from the carrier - the agent doesn't pay, the carrier does. The agent's job is to sell insurance, the carrier's job is to make money for the stock holders.

yes, root canals may perhaps be less painful than reading a policy, but I can not emphasize enough to read the policy.
 

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Ryan,

Have you read the policy - CAREFULLY.

Can you damage "personal" property and be covered? Will you be covered for mistakes due to your workmanship?

I think you will find that is a sub contractor of yours damages something, you will be covered.

I can't wait for the time when business liability is no longer an issue for me. I have found from experience it's a total scam
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.
 

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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.
That's crazy! I'm gonna have to look at it again to see if thats in there.
 

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PinheadsUnite
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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.
UNFORTUNATELY, I do believe you are not correct.

In my policy it excludes "personal property". If that plasma was sitting on a table, it would be considered "personal property" and not covered. If it were INSTALLED (wall mount, or similar) it would be "REAL PROPERTY" and covered.

BUT, then you have the "NEGLIGENT WORKMANSHIP" exclusion to deal with (I think that is the wording, and I ain't about to pull out a policy to check)

so if you put an extension pole through the plasma, make sure you follow up with a fall off the ladder into the plasma.

It was described to me this way, the family heirloom oriental AREA rug is NOT covered, (not installed with nails etc) The cheap wall to wall is covered.
 

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UNFORTUNATELY, I do believe you are not correct.

In my policy it excludes "personal property". If that plasma was sitting on a table, it would be considered "personal property" and not covered. If it were INSTALLED (wall mount, or similar) it would be "REAL PROPERTY" and covered.

BUT, then you have the "NEGLIGENT WORKMANSHIP" exclusion to deal with (I think that is the wording, and I ain't about to pull out a policy to check)

so if you put an extension pole through the plasma, make sure you follow up with a fall off the ladder into the plasma.

It was described to me this way, the family heirloom oriental AREA rug is NOT covered, (not installed with nails etc) The cheap wall to wall is covered.
Bill, your policy may exclude any damage to personal property, but I know that our policy excludes only property in our care, custody, and control. The way I explained it in my early post was just how our insurance guy explained it to me. From what I can find online, it's pretty standard for CGL policies to have that same care, custody, and control clause.

EDIT: While I was doing research on how widespread the CCC exclusion was, I did encounter one mention of a real property versus personal property exclusion. I got the impression that it was a lot less common. But, as the people in my house point out on a regular basis, I may be mistaken.

Yeah, that whole negligence is a whole other bag of worms. Basically, those two exclusions give the insurance companies a couple of loopholes big enough to drive a truck through. It's my understanding that they would try to exclude covering the plasma screen/extension pole incident (which is fictional, by the way) on the basis of negligence, not CCC.
 

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I go threw country insurance. I hay 586 a year for 1,000,000 / 2,000,000 and I am covered for exterior spray and remodeling and altercation to structure of buildings
 
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