# How much are you paying for General Liabilty Insurance?



## lawndart (Dec 3, 2006)

*Lets Talk About General Liabilty Insurance*

How much are you paying yearly on your policy, what type of business do you do, where are you located, and what insurance carrier are you with? 

Right now, I'm covered for all interior carpentry work with a $1,000,000 general liability policy.

Just started shopping around, because my policy is about to expire with Tower insurance this month. I found a company that specializes in insuring contractors in the state of New York. The company is called WJ Farmer Insurance. Their policy is with a carrier called Erie Insurance. Total price quoted for the year is $1,776.00. 

My current policy is with Tower Insurance, and I was paying over 2,800.00 for the past year. I think WJ Farmer Insurance only insures contractors in NY, but I could be wrong. That said if anyone is in the market, for a policy I'd advise you to take a look.


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## silvertree (Jul 22, 2007)

I'm about $2400 General Liability for $2,000,000. Minnesota


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## dougchips (Apr 23, 2006)

I paid (ballpark figures) $800 for my first 8-9 years and then I was dumped since I sub out over 50% of my work. My rates then went up to 4k or 5k. Since this past year did not set volume records for us and in an attempt to reduce some overhead I began shopping around. Long story short, I ended up with a policy for a little under 2k for 1,000,000.


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## lawndart (Dec 3, 2006)

dougchips said:


> I paid (ballpark figures) $800 for my first 8-9 years and then I was dumped since I sub out over 50% of my work. My rates then went up to 4k or 5k. Since this past year did not set volume records for us and in an attempt to reduce some overhead I began shopping around. Long story short, I ended up with a policy for a little under 2k for 1,000,000.


Shopping around can be an overwhelming experience. I've had quotes as high as 8k . Thats just crazy for what I do IMO.


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## Mr. Wms (Jan 5, 2007)

$1320 a year for GL at 1million


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## seifconst (Oct 14, 2008)

Roughly $800 for 500,000 liab. Fluctuates with sub pay on yearly basis.


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## lawndart (Dec 3, 2006)

Mr. Wms said:


> $1320 a year for GL at 1million


Where are you located? What Company is your policy with? What type of work do you do?

It is my hope that members of this board could use this information as a reference in the future if they are shopping for insurance in your general area.


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## TileLady (Apr 8, 2008)

Hey there. I'm in NY state (Orange county) and I have $1,000,000/2,000,000 policy with $5,000 tool coverage and I pay $760 a year. However I'm a sole prop and my insurance agent only has me as $22,000 payroll and I know that affects your rate.

I'm with Farm Family Insurance and have their 'Contractor Advantage' plan under the carpentry category.

Hope this helps


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## dougchips (Apr 23, 2006)

lawndart said:


> Shopping around can be an overwhelming experience. I've had quotes as high as 8k . Thats just crazy for what I do IMO.


lol, it cost me at least 20 hours and maybe a much as 40 hours this year. In the end it paid off but what a hassle! My existing agent was given 3 weeks notice to provide her best price and that I wanted to be under 2k. She waited until the last day and came back with a 600-700 increase and a "let me know if you can find a better price we might be able to match and beat it". 

I don't mind paying for good service from an insurance agent but not at a couple grand more than another company with a good local brand name.


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## buildpinnacle (Sep 2, 2008)

Wow...TX sucks! I am getting cheap insurance now at $4,500 per year for $1M. When I was 100% commercial roofing, my last policy ran me $45,000 that year on $2M in sales. I am know listed under 'framing and carpentry'. All my subs are still required to carry GL, or I get penalized greatly and my policy is audited at year's end for adjustments based on my projected sales vs. actual sales.


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## Winchester (Jun 29, 2008)

$2mil Liability and $850 premium


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## copusbuilder (Nov 8, 2005)

buildpinnacle said:


> Wow...TX sucks! I am getting cheap insurance now at $4,500 per year for $1M. When I was 100% commercial roofing, my last policy ran me $45,000 that year on $2M in sales. I am know listed under 'framing and carpentry'. All my subs are still required to carry GL, or I get penalized greatly and my policy is audited at year's end for adjustments based on my projected sales vs. actual sales.


I too am almost all sub and they have to carry liabilty as well as I do or I get whopped. The cost is a joke as I am near $5000.00 a year and we cut our volumn way down.
It seems they are spreading the liabilty but increasing the cost?


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## Brock (Dec 16, 2007)

$600,000 coverage $317 annualy. I have had two claims in 11 years with this company. No rate increase so far.

Continental Western Insurance Co.


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## buildpinnacle (Sep 2, 2008)

Insurance must be the only thing cheaper on the East coast, Copus.


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## AustinDB (Sep 11, 2006)

try Goodville Mutual. about $500 for 2mil in general including a tool rider.


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## mikec (Jan 2, 2007)

I'm in connecticut, and for 1/2 mill one employee 37k payroll,remodeling, i pay 2500. Comp is 6500. I find Liability is easy, getting comp was hard. I was put in "the pool", but GE picked me out.


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## Mellison (Aug 3, 2008)

I pay about $2,000.00 per employee per year.


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## buildpinnacle (Sep 2, 2008)

No comp required here in TX. We have a 'cheaper' equivelant comp insurance if you like.


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## copusbuilder (Nov 8, 2005)

buildpinnacle said:


> Insurance must be the only thing cheaper on the East coast, Copus.


Having grown up in Boston I can say you are pretty close.
Texas homeowners, and it seems liability are some of the highest in the nation.
I wonder why?


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## D.A.S.Anthony (Dec 3, 2008)

I carry both NY and Connecticut insurance. Comp, liability, umbrella.

In Connecticut it is The Hartford. $5,500 for 4 mil Liablity

In NY it is a small company out of Westchester, Bacorossa. $2,000 for 2 mil

Where In NY are you? If you would like a name and number let me know, we love our ny salesman. 

When we only had 1 mil in NY it was $777 for 1 mil. That was about 8 months ago.


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