liability insurance

shawn laverty

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

STEVEusaPA

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.

Paul Pollets

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

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)

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.