insurance

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rgiraldo

Member
Location
FL
I am looing for General Liability Insurance, Worker Comp.


I live in Orlando FL

Can some direct me to the right people.


Thanks
 

nhfire77

Senior Member
Location
NH
I cant help you down there, but make sure you get errors and omissions if its not included with the general liability
 

hurk27

Senior Member
Because I'm a one man shop, I use State Farm which I have all my insurance through, they saved me a bundle, they are looking to insure small company's and have very low rates, for 2 mil liability mine is about $39.00 a month, and $50.00 a year for 10k bond, but this is because I use them for everything. I have a state waver for workmans comp, so that I don't know about?

Might be worth checking into.;)
 

satcom

Senior Member
On liability you get what you pay for, a policy that goes from year to year will always be the lowest prices, but provides little coverage, should the claim for damage come to you in the 13 month or any time beyond, your on your own, where as if you have a liability policy with continued coverages, and completed operations along with errors and omissions, you have decent coverages with liability, some agents will not take the time to explain the advantages of good coverages if you come in looking for cheap, they want their cut, another thing is comp insurance, in some states you are not required to carry it if you are a one man show, but who in their right mind would let someone work on their proprety, that does not have comp coverages.
 

rgiraldo

Member
Location
FL
I just spoke with a broker and liability would run 600 a year and bond 100 for 5k

I'm going to set to night anf look deep into it. Your help is really helping me out, thank you guys.
 

rgiraldo

Member
Location
FL
Sovergien? is that a agent?

I am going to be streight with you guys I am green in this department and I need the help.

And as the other gentimen mention, yes the agent ust wants to sell me the chepest.
 

satcom

Senior Member
Sovergien? is that a agent?

I am going to be streight with you guys I am green in this department and I need the help.

And as the other gentimen mention, yes the agent ust wants to sell me the chepest.

The agent just wants to make a sale, and if it is price you are shopping for he has that for you, a cheap policy that protects next to nothing, a good agent will explain how all the different policies work, and help you get the coverages you need to protect your assets, the problem is many guys just look for the cheapest price, and never consider that they may be buying a policy that protects little or nothing, when for just a bit more, they can have
decent coverage, so take your time, and ask plenty of questions.
 

Split Bolt

Senior Member
I have ALWAYS used an insurance broker to handle all that. I have my liability, worker's comp. (a former female ins. broker broke me of the habit of calling it workman's comp!) and auto for my van through a broker. He is basically the only contact I need for questions. He shops for better deals every year and I pay what I would normally pay if I did it all myself! He lets me worry about electrical work while he takes the insurance workload off of me! Plus he explains things so even I can understand them! Someone needs a w/c certificate? I just send my guy an e-mail and it is handled the next day!:)
 

petersonra

Senior Member
Location
Northern illinois
Occupation
engineer
On liability you get what you pay for, a policy that goes from year to year will always be the lowest prices, but provides little coverage, should the claim for damage come to you in the 13 month or any time beyond, your on your own, where as if you have a liability policy with continued coverages, and completed operations along with errors and omissions, you have decent coverages with liability, some agents will not take the time to explain the advantages of good coverages if you come in looking for cheap, they want their cut, another thing is comp insurance, in some states you are not required to carry it if you are a one man show, but who in their right mind would let someone work on their proprety, that does not have comp coverages.

If it is your choice, get short term and long term disability and health care coverage in lieu of W/C coverage. You are going to want those anyway, and no reason to pay for W/C if your other insurances will cover you.

There are a few gotchas, including a lot of disability policies that don't fully cover you for being able to work PT or being able to work outside your normal occupation. In other words, they might make you take a PT job as a greeter at WalMart and deduct the pay from your disability check if you can't work as an electrician.

But the poster is right about his point. Many places want to see WC coverage even though in reality it does not protect a third party at all. It is mostly to protect the employer.
 

Split Bolt

Senior Member
I do mostly service work, not sub contracting, but the few contractors that sub me REQUIRE that I carry w/c. Even though I presently have no employees and the w/c wouldn't cover me anyway because I'm not an employee, I still carry it! At the end of every year, the w/c provider audits my payroll records to see if they can squeeze more $$$ out of me. (w/c is based on employee salaries) Every year, I get a nice check in the mail for overpayment!:grin: Sounds stupid, but that's the game! The contractors that sub out need a w/c certificate to show their ins. companies that all subs are covered when they get audited. No w/c certificate means they pay for it based on how much they gave you throughout the year!
 

satcom

Senior Member
If it is your choice, get short term and long term disability and health care coverage in lieu of W/C coverage. You are going to want those anyway, and no reason to pay for W/C if your other insurances will cover you.

There are a few gotchas, including a lot of disability policies that don't fully cover you for being able to work PT or being able to work outside your normal occupation. In other words, they might make you take a PT job as a greeter at WalMart and deduct the pay from your disability check if you can't work as an electrician.

But the poster is right about his point. Many places want to see WC coverage even though in reality it does not protect a third party at all. It is mostly to protect the employer.

The disability and health care, will not protect the homeowner or company you are working for, by law since we are incorporated we have to pay both the state fund, and a private company, gets expensive, and we still pay for health insurances on top of everything else.
 

nhfire77

Senior Member
Location
NH
I do mostly service work, not sub contracting, but the few contractors that sub me REQUIRE that I carry w/c. Even though I presently have no employees and the w/c wouldn't cover me anyway because I'm not an employee, I still carry it! At the end of every year, the w/c provider audits my payroll records to see if they can squeeze more $$$ out of me. (w/c is based on employee salaries) Every year, I get a nice check in the mail for overpayment!:grin: Sounds stupid, but that's the game! The contractors that sub out need a w/c certificate to show their ins. companies that all subs are covered when they get audited. No w/c certificate means they pay for it based on how much they gave you throughout the year!

Yep $800/yr for WC that I can't use, but my biggest clients require it. Cost of doing business.
 

JWCELECTRIC

Senior Member
Location
Massachusetts
In MA when I go to pull a permit I need to provide proof of liability insurance and workers comp coverage.

http://www.mass.gov/Eeops/docs/dps/appl/form_bbrs_aff_builders.pdf

Bob,

Unless something has changed recently, as a one man shop in MA with no employees, workers comp is not required. We can sign a wavier when pulling a permit to indicate we do not carry it. I think most G.C.'s want you to carry it if you are working for them, because if something happens to you on there project they don't want you using it against them.
 

satcom

Senior Member
Comp may not be required for the one man shop, but how many people are going to let someone work on their property with out it?
 
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