Do you have General Liability Insurance?

[Sugarphreak]

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[bbcustoms]

I have a 5 million policy which I am currently getting quotes to upgrade to 10 million. Any insurance brokers that offer commercial insurance will be able to quote you on it. I do know the rates vary depending on the nature of your business though.

[Sugarphreak]

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[JudasJimmy]

1M for $275 yr. With State Farm.

[IggyB]

Originally posted by JudasJimmy
1M for $275 yr. With State Farm.

Same here

[Wrath]

I have 2 million with the Cooperators, I forget the cost i'll check later

[Zhariak]

I use State Farm

2 Mill Liability

I've also got various other crap (for the industry I'm in).

~$400.00 a year.

[tom_9109]

Insurance is a must for anyone in business of any kind. Period.

[Sugarphreak]

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[tom_9109]

You fuckin up and getting sued . . . . .. .. .

[skandalouz_08]

Did you talk to Masked Bandit? He's able to sell it as well depending on the type of coverage you're looking for. Never hurts to give him a call and see what he can do for you.

[email protected]

[Sugarphreak]

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[Supa Dexta]

Touch stone? When did that change?

And it could be for something as simple as you going to a location under contract for another business, and you run over the porta-potty.. You aren't directly an employee of XYZ, so you need to be covered.

[guessboi]

Bill went on his own recently...started in March.

and yes majority of the time, you will need to get a CGL / tenants legal liability to satisfy contract requirement for insurance. (i.e. being as a tenant or being as a contractor)

Every business is different and different risk or exposure is involved. ie. a small retail shop or home business (not much risk) vs. a welder, pizza place with delivery (more exposure to liability)

$275 for a 2M CGL is dirt cheap IMO.

[bimmere92]

Does anyone have any input in regards to Liability Insurance for Engineers? Costs? Any companies you recommend?

[lilmira]

Originally posted by bimmere92
Does anyone have any input in regards to Liability Insurance for Engineers? Costs? Any companies you recommend?

We use Encon.

[bimmere92]

would you happen to know the costs?

I am under the assumption that it's close to $50,000/year for $5,000,000 coverage including a $5,000 deductible? does this sound right?

[lilmira]

No idea about the cost. We have 1mil per claim with 5000 deductible.

[Dave P]

Man you guys get some cheap CGL coverage haha. I wonder what coverages you dont have haha.

[Sugarphreak]

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[Jason Lange]

I have a small welding company and we pay about $6000/mth for 10mil.

[bbcustoms]

Originally posted by Jason Lange
I have a small welding company and we pay about $6000/mth for 10mil.

Do you mean 6k a year? As a general contractor we are just over 2k a year for 10mil

[AndyL]

Artisans (contractor) insurance was 300$ for 2mil liability, 50k in tool theft coverage.

Never say you're not liable, you'd be surprised what can come back on the contractor. And if something major ever pops up expect those engineers to put it back onto the installer. Never mind the stupid stuff like thiefs breaking in, tripping over a cord while stealing tools - and falling down the stairs... Then suing - it does happen, was reading about it in canadian contractor mag earlier this year.

[guessboi]

^ completed operations (your completed works) is usually your main exposure for contractors.

Again any CGL policy under $500 is dirt cheap for liability and some tools coverage. Uusually a lot of companies have a minimum retained premium (minimum premium they will charge and keep if you cancel for commercial business)

[guessboi]

Originally posted by bbcustoms


Do you mean 6k a year? As a general contractor we are just over 2k a year for 10mil

2,000 is cheap for a 10M CGL as a general contractor (since you are liable for all your sub trades)

A 10M CGL for a Welding operation probably has a "reinsurance" component thus a little bit more pricey. If your operation includes a good portion of off premise welding. I can see it being 6k a month.

[guessboi]

Originally posted by bimmere92
Does anyone have any input in regards to Liability Insurance for Engineers? Costs? Any companies you recommend?

What is your contract requirement? i.e do you need both an E&O policy and a CGL policy? What is the limit they are asking for?

[98brg2d]

I have professional liability insurance and its mandatory CGL. Both together are ~$3300/year and this is for a single employee engineer with total earnings of ~$120,000/year ($2M coverage). My broker is Aon Reed Stenhouse and the underwriter is CFC (Lloyds of London). If you have multiple engineers that don't fall into the small employer category the price gets pretty steap pretty fast. For the company I work for it would be ~$50,000/year for two engineers.