Fixed location insurance questions/advice

[Legacykid]

So I am looking into opening a shop and have been calling around for quotes. As I have heard and am finding to be true is most people get my info and do not call back. Luckily there are a lot of brokers in my area so I going to go right down the list.

Any way I called for General Liability and Garage Keepers and the quote I got was $3,980 from one place.

All the threads I have read people are saying $1,500 is a lot. Now I am not sure if they are mobile or not.

here is what was offered:
3315+ for (GL which includes 25k GK)
549 for GK (+75k GK)

1Mil Liability
300k damage to property
1k deductible for GL
500 deductible for GK

Any input would be appreciated I talked to 4 agents from different firms and all of them asked me different questions and had differing concerns about what I would need. So I am looking for advice from who has gone through this.

Thanks!

 

[AGOatemywallet]

Why are the damage and liability amounts so high?

 

[GSKR]

So I am looking into opening a shop and have been calling around for quotes. As I have heard and am finding to be true is most people get my info and do not call back. Luckily there are a lot of brokers in my area so I going to go right down the list.

Any way I called for General Liability and Garage Keepers and the quote I got was $3,980 from one place.

All the threads I have read people are saying $1,500 is a lot. Now I am not sure if they are mobile or not.

here is what was offered:
3315+ for (GL which includes 25k GK)
549 for GK (+75k GK)

1Mil Liability
300k damage to property
1k deductible for GL
500 deductible for GK

Any input would be appreciated I talked to 4 agents from different firms and all of them asked me different questions and had differing concerns about what I would need. So I am looking for advice from who has gone through this.

Thanks!

should be at 1800 tops with good coverage,I was gonna rent a spot from a gas station here in town,I find thru the quotes you have to watch what you say no painting on premises no employee driving except you,other wise if you don't keep it simple they will write a policy for you like your average day cars will be Lamborghini and phantoms.The more they write the better commission.Research quotes yourself don't go to a broker deal with major carriers that thrive on customer service and will call you back.

 

[GSKR]

Try travelers insurance I think for 1800 they were gonna write me,as I just chose to stay mobile.

 

[onsite]

That 1800 cover business vehicle? Or just overall business?

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[Legacykid]

Why are the damage and liability amounts so high?

should be at 1800 tops with good coverage,I was gonna rent a spot from a gas station here in town,I find thru the quotes you have to watch what you say no painting on premises no employee driving except you,other wise if you don't keep it simple they will write a policy for you like your average day cars will be Lamborghini and phantoms.The more they write the better commission.Research quotes yourself don't go to a broker deal with major carriers that thrive on customer service and will call you back.

Thats the price I was thinking should be the top for the area im looking in. This is the number he gave me stating my first year I would most likely be working on cars up to 90k in value and would only keep up to 2 cars in the garage over night max. It will be me and my partner no other employees. One guy asked if I needed 100k in equipment insurance, I told him 10k would be the max. Assuming i gave steamers, polishers, vacs, and 1gal containers plus in products and something happens to the shop.

Another guy just called me saying farmers wont take me. and explained that most business insurance companies look for certain fields and stick to them.

 

[jarred767]

I've heard pretty good things about State Farm on these boards.

I just got a policy through American Family Insurance and I'd definitely recommend them. Liability is $2 million per occurance/$4 Aggregate (it's what my landlord required) and $100k garage keepers for my 1400sqft space and I'm paying $586 a year. Definitely worth a call!

 

[Legacykid]

I've heard pretty good things about State Farm on these boards.

I just got a policy through American Family Insurance and I'd definitely recommend them. Liability is $2 million per occurance/$4 Aggregate (it's what my landlord required) and $100k garage keepers for my 1400sqft space and I'm paying $586 a year. Definitely worth a call!

Wow thanks jarred going to give them a call.

 

[GSKR]

That 1800 cover business vehicle? Or just overall business?

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Everything right down to stolen equipment .If you need help I can get you info next week from a friend in the business of insurance,he is on a cruise right now so just let me know by pmessage.

 

[GSKR]

I've heard pretty good things about State Farm on these boards.

I just got a policy through American Family Insurance and I'd definitely recommend them. Liability is $2 million per occurance/$4 Aggregate (it's what my landlord required) and $100k garage keepers for my 1400sqft space and I'm paying $586 a year. Definitely worth a call!

I may call myself on Monday that's seems like there is a catch somewhere or some kind of loophole in the clause I hope for your sake it's not.I pay 309 a month just for mobile thru progressive ,and 119 a month for insurance for the planes.If something were to happen the insurance would cover the incident concurrently progressive and chub insurance at 2 million.

 

[jarred767]

I may call myself on Monday that's seems like there is a catch somewhere or some kind of loophole in the clause I hope for your sake it's not.I pay 309 a month just for mobile thru progressive ,and 119 a month for insurance for the planes.If something were to happen the insurance would cover the incident concurrently progressive and chub insurance at 2 million.

Mobile insurance was actually quoted at a higher rate through AmFam. Since I do less than 25% mobile, the standard GK was all that was needed. It covers all my equipment, but doesn't cover my personal vehicle (because of the 25% thing) so I have insurance on my HHR seperately for a standard rate.

 

[GSKR]

Mobile insurance was actually quoted at a higher rate through AmFam. Since I do less than 25% mobile, the standard GK was all that was needed. It covers all my equipment, but doesn't cover my personal vehicle (because of the 25% thing) so I have insurance on my HHR seperately for a standard rate.

gotcha still pretty reasonable.

 

[FinishingTouchA]

Check with State Farm, I pay $817 a year for 25k business property, 2mil liability/4 aggregate, 100k GK, no business vehicle coverage.

 

[GSKR]

Mobile insurance was actually quoted at a higher rate through AmFam. Since I do less than 25% mobile, the standard GK was all that was needed. It covers all my equipment, but doesn't cover my personal vehicle (because of the 25% thing) so I have insurance on my HHR seperately for a standard rate.

since you don't do a lot of mobile work,is it a promblem for clients to drop off there car for your service.I worked at a retail detail shop for years back in the 90s we would do dealer stuff during the week and 20 dollar car washes as well.on the weekend a lot of washes and maybe 2 or 3 wax jobs in between all the washes.Thats not the road I want to go down,that's why I chose to stay mobile I put a lot of thought into it as the location was killer I didn't want to be bothered with car washes and tyre kickers.my business carries itself with the phone number and good reputation but I felt like not starting all over again by chasing work with the location as the mobile falls in my lap.was looking into doing Highend work only but that just deosnt happen all the time so I remain mobile.

 

[FrankS]

A few months ago I talked with a retired State Farm agent who now sells insurance on his spare time.

I was looking into getting some type of insurance to cover myself in case I ever damage a client's car, for example, by burning through the paint by mistake as I'm polishing.

He said that "burning through the paint" would be considered "faulty workmanship" and there is no insurance that will cover that, not even liability or garage keepers. He seemed to know what he was talking about but I don't know.

I can see having insurance in case you damage the car while moving it or perhaps it's vandalized or stolen while kept in a garage, any other reasons?

 

[Legacykid]

Check with State Farm, I pay $817 a year for 25k business property, 2mil liability/4 aggregate, 100k GK, no business vehicle coverage.

Good price. Mine was quoted through State Farm going to call jarred place monday.

 

[Legacykid]

Everything right down to stolen equipment .If you need help I can get you info next week from a friend in the business of insurance,he is on a cruise right now so just let me know by pmessage.

This is mobile right? I will look into travelers also.

 

[jarred767]

Check with State Farm, I pay $817 a year for 25k business property, 2mil liability/4 aggregate, 100k GK, no business vehicle coverage.

Yeah, State Farm was my second choice but they were a little pricier and would cover customers tires (I plan on using a section of my shop for tire/wheel storage). From my research, SF and AmFam were the leaders in the area.

 

[jarred767]

A few months ago I talked with a retired State Farm agent who now sells insurance on his spare time.

I was looking into getting some type of insurance to cover myself in case I ever damage a client's car, for example, by burning through the paint by mistake as I'm polishing.

He said that "burning through the paint" would be considered "faulty workmanship" and there is no insurance that will cover that, not even liability or garage keepers. He seemed to know what he was talking about but I don't know.

I can see having insurance in case you damage the car while moving it or perhaps it's vandalized or stolen while kept in a garage, any other reasons?

That is correct from what I learned in my research. Plus the repair would probably be similar or less than your deductible, so probably not worth filing the claim.

From what I understand, the GK part covers the cars in your possession of something happens (accident, building burns while there in it, building gets broken into, etc). The liability covers someone getting injured on your property or any other thing you'd be liable for. Hope that helps!

 

[Legacykid]

Called around more and got 2 places to quote me 1420 for
1mil/ 2 mil
120k GK
15k prop

Going to keep looking