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liability insurance

shawn laverty
shawn laverty Member Posts: 42
I was wondering what other contractors are paying for liability insurance. We are a 4 man shop and it seams with liability and workmans comp we are getting killed. We aew located in Mass.



  Thanks

      shawn

Comments

  • STEVEusaPA
    STEVEusaPA Member Posts: 6,506
    I don't know who your with....

    But I would check with Federated Insurance. They do a lot with contractors, petroleum, and HVAC companies. After 9/11, they were one of the few companies still writing for the petroleum industry, and also they didn't quadruple their prices, like the others.
    steve
  • Paul Pollets
    Paul Pollets Member Posts: 3,656
    Insurance costs

    The liability costs will depend upon your payroll costs, vehicles insured and risk factors for the type of work your company performs. I found another company several years ago that specialized in contractor liability and the firm quoted me a better policy for more coverage, at a 30% discount to what I was currently paying. It sounds like it would be worth getting quotes from other insurance vendors.
  • superdave
    superdave Member Posts: 155
    I feal your pain

    I am also out of Ma. and I have a base policy of 4M  with comp. The things that are killing me are the guys out there that are not holding the correct ins. That's why you here about so-many guys lousing work over big $$ differences.  it's going to take a major accident before people realize you get what you pay for.
  • The Steam Whisperer (Formerly Boilerpro)
    edited March 2012
    In a fight right now.....

    with my, now previous, company that had me in the wrong classifications according to everyone I've been in contact with (including some fellow Wallies) .  The total insurance cost was close to 50% of payroll....just obscene.   Their rates were also extremely high.    I am with Federated now which appear to be a first class company, with far better coverages for much less money.   I'll fill you all in later on the procedures I have gone through to get this corrected and to receive refunds once it is done.
    The Steam Whisperer (Formerly Boilerpro)

    Chicago's Steam Heating Expert





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