I remember seeing a thread awhile back on the same topic but don't remember the particulars.
A city that I'm looking at starting a business in requires insurance coverage of $300,000 personal injury and $300,000 property damage per occurence.Just wonderin what rates others are paying and how much coverage is required in the areas that you do business in.
The company that I work for has to carry $1,000,000 policy due to contract requirements on some commercial work,but I'm not sure of the cost of it.

here in CA I HAD A HARD TIME GETTING INSURANCE.
LAST YEAR I AHD INSURANCE AND PAID ABOUT $900 FOR 1 MILLION COVERAGE. THIS TEAR IT JUMPED TO $1400 AND THEY HAVE SO MANY RESTRICTIONS THAT IT IS ALMOST IMPOSSIBLE TO DO WORK.

GOOD LUCK TO YOU AND TO REST OF US.

Here is Long Island we are paying $50,000 for workers comp and $5,000 for liability.
This is for about 12 employees

commercial contracts are peppered with wishes for coverage & insurance vouchers that most 'little guys' can't afford.

his is done to weed 'em out.

you should be able to shop around and ger 1/2 mil for $300 annum....

how big a fire can you possibly start right?

LOL at spaarky.
Hopefully no bigger than a fireplace with the remote control ignition.

tsolanto...GULP!!$50,000.....Have you had alot of comp claims?

txsparky
Actually it was for my construction company the rate is 15% for workers comp. No claims. Makes you want to move to NY. Thats big cheese...

[This message has been edited by tsolanto (edited 02-11-2003).]

We pay 5.47% Workman's comp. We carry a $1,000,000 liability policy with a $2,000,000 aggregate. So we can screw up 2 project for up to a Mil.(Man I hope I never need that policy.) Rates vary by location, so check with your agent, but it probably won't cost much more to get a full mil than a half mil policy.

txsparky...i pay about 450.00 a year for a $1,000,000 policy.and that incl.$5000 for contractor tools and equipment

TXSparky:
This year (started 1/15/2003:

PACKAGE
Property, shop & office 250 deductable 15K
Loss of income (all risk)actual loss for 12 months
Sewer back-up; 250 ded, 10K
General Liability 250 property damage ded.
$1 mil; 2 mil aggregate completed op.
2 mil gen agregate, per project
A bunch of small items for 100K & 15K

Tool & equip 25K
$$ & Securities; 15K
Receivables; $35K
Valuable paper & records; 35K
Employee dishonesty; 5K, 250 ded
Rented, leased or borrowed equip; 25K, 250 ded
Installation Floater; 25K w/ 250 or 500 ded

Auto:
1 mil, 1 mil,
Rented Vehicle Comp & Coll; 50K
Rental vehicle; 50 day
1 mil liability (2 people) for "other vehicle"
Workers Comp:
1 mil each person, each accident

Commercial Umbrella; 1 mil.

Auto part is $14521.00
Contractor Pkg is $2536.00
Workers Comp is $5886.00
Umbrella is $1200.00

TOTAL is $25192.00

Sorry this is long, and I hope it helps.

John

Thanks You All!!
.All of the info you provided helps me to get all of my ducks in a row.