Insurance???

I know this has been discussed in the past, but I couldn’t find the answer I was looking for…

General liability, workman’s comp, hired non owned auto… We’re looking at about 600/month at least, and he had trouble getting the last two. Is this common?

Thats about in line with what I pay.

Which company?

a local, independent agency will usually get a better rate than a major name company.
Your rate isn’t outlandish, depending on how many employees/drivers you have.

Actually I am surprised you are getting a quote that low. 2K for general liability is pretty common, 4-6K just for Auto and 3-4% of gross wages for work comp. With 100K wages I would expect a new business to be looking at 900-1000 month.

I have used Fireman’s Fund for 8 years.
GL and owned/nonowned auto is $5500.
You have to put 25% down and the balance over 10 months.
Very good to work with.

The whole thing is just really frustrating, but I will call them tomorrow. One company told me they ran just the liability through 7 companies before someone would underwrite it. I asked why and he said they don’t like new restaurant owners because of the equipment. I told the the guy the navy trusts me to operate a nuclear reactor, I’m pretty sure I’ll be ok with a pizza oven.

I don’t even mind that I underestimated this cost so much as I mind that there are companies that won’t insure me without knowing jack about me.

I have run into similar issues with businesses I have sold recently. New operator = hard to insure. If you think the general liability is hard to find, wait until you shop the auto.

Unlike so many Indy stores, we have always had hired and non-owned covereage. Over a 15 year period we have had four different policies. Currently, we are with Allied which has been the easiest ever to deal with and to comply with the underwriting reporting requirements these policies all have. In 15 years we have paid about 60K in premiums and had one single claim for 7K based on a driver at fault who, despite our regular checks, did not have insurance in force when the accident occurred and our coverage paid.

I did not have good luck with Fireman’s. I found all the hoop jumping really tedious and the steady stream of up-charges made a mockery of the original quote. In particular the outsourced MVR service is a vampire on your checkbook. OK if you can not find coverage elsewhere, but I would not go back to them if I had a choice. Also, we had a headache when an invoice was apparently lost in the mail and we missed a payment. Nobody called and then we got a cancellation notice with such a short trigger that since I did not open the mail more than once a week I missed until Friday afternoon the day it cancelled. They have no local agent for this coverage and we could not get anyone on the phone for three days to set up a direct payment and had to stop delivering on one of the biggest weekends of the year. That cost me 6K in sales. I hate them.