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Another Insurance Question
Posted: Mon Mar 24, 2003 1:27 am
by Linda Landauer
It sounds like there are a few of you that are still able to get business insurance. Is there anyone doing commissioned work that can give me the insurance carrier that they are using? I am in Colorado, and have been trying to get my business re-insured for the past year. I have run into one dead-end after another. I am being told that I am not a risk, but my category is. Any and all leads would be greatly appreciated. I can't find an agent that will tell me anything other than "No coverage available for small contractors" I really do not like being this vulnerable.
Truely desperate
Linda
Insurance problem
Posted: Mon Mar 24, 2003 2:49 am
by Kitty
the state of colorado very likely has an office for an Insurance Commissioner, or some such branch of state government. find out about it, and ask them what colorado's law says about denial of insurance. they might also be able to name some companies that underwrite businesses like yours. another lead would be to talk to the Small Business Admin. and the Better Business Bureau. Possibly you can get hooked up with a small business lobbying group, which may provide excellent leads. I belong to one in Hawaii for $175 a year, and through this membership i am able to purchase premium quality health insurance, not an HMO, for a price i can live with. good luck with this project. kitty.
Re: Another Insurance Question
Posted: Mon Mar 24, 2003 10:28 am
by Bert Weiss
Linda Landauer wrote:It sounds like there are a few of you that are still able to get business insurance. Is there anyone doing commissioned work that can give me the insurance carrier that they are using? I am in Colorado, and have been trying to get my business re-insured for the past year. I have run into one dead-end after another. I am being told that I am not a risk, but my category is. Any and all leads would be greatly appreciated. I can't find an agent that will tell me anything other than "No coverage available for small contractors" I really do not like being this vulnerable.
Truely desperate
Linda
Linda
Ask your insurance agent for "Manufacturers and Contractors Liability Insurance" The basic policy is for $2,000,000. Mine covers me to and from, as well as at, jobsites and trade shows. If the truck carrying my trade show booth rolls over, the work inside is insured. If I ruin somebodie's home while making an installation, I am covered etc.
Posted: Mon Mar 24, 2003 12:55 pm
by Carol
bert...does your policy cover your work while in the hands of commercial carriers?
Posted: Mon Mar 24, 2003 2:57 pm
by Tom Fuhrman
I am classified as a glass manufacturer. I have my coverage with Grange Mutual Insurance, and have a local agent that takes good care of me. The price is high by my standards, but at least I'm covered. My policy does not cover my stuff if it is consigned freight on a common carrier. I have a $2,000,000 liability limit, covers my building, inventory, trade shows, etc. contact me if I can help. Tenn. Tom
Posted: Mon Mar 24, 2003 3:03 pm
by Bert Weiss
Carol wrote:bert...does your policy cover your work while in the hands of commercial carriers?
I don't think so.
Posted: Mon Mar 24, 2003 3:40 pm
by Carol
Mine doesn't either, but I was hoping that it might...that would have solved Cynthia's dilemma.
Carol
Posted: Mon Mar 24, 2003 5:27 pm
by Dani
Linda, you might want to try American Family Insurance in Colorado. We had business liability coverage with them for years before switching to USAA. They were very affordable and an agent can advise you of a classification that is appropriate. For example, we were classified as artists and art gallery. Glass manufacturer was much higher risk and really not appropriate to our business. Be sure that your definition of what you do agrees with their definition ... the words may be the same, the understanding worlds apart.... not to mention the costs.
Good luck,
Dani
Posted: Mon Mar 24, 2003 8:22 pm
by Linda Landauer
Thank you everyone!! I'm on it.
Linda