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Insurance question
- Thread starter Sarahml
- Start date
Replicator
New Member
No Insurance . . . Just proper care instructions and warnings !
weaselboogie
New Member
Depends on how much work you're doing. In ohio, you can get a 1,000,000 policy for $300-$400.
Ken
New Member
I think the biggest liability arises when you install the signs. A hanging sign, above a sidewalk, a stiff breeze, sharp edges, is a combination with a potential for disaster.
A truly outrageous sign that commands attention could be another possible liability. For instance; a sign depicting a lovely woman ( or man) about to peel their clothes off may cause motorists to be distracted leading to an accident.
There is also the issue of politically inncorrect signage. If a sign of your making can be construed as maligning any minority, religion, identifiable group, you, as the sign maker, could also be embroiled in a lawsuit even though you created the sign according to the specs of your customer. Lawyers use a "shotgun" approach and will sue against any party involved in the alleged "infraction".
You should have WCB coverage. If you fall off a ladder and break your hip..you'll be real happy you have that.
Ken
A truly outrageous sign that commands attention could be another possible liability. For instance; a sign depicting a lovely woman ( or man) about to peel their clothes off may cause motorists to be distracted leading to an accident.
There is also the issue of politically inncorrect signage. If a sign of your making can be construed as maligning any minority, religion, identifiable group, you, as the sign maker, could also be embroiled in a lawsuit even though you created the sign according to the specs of your customer. Lawyers use a "shotgun" approach and will sue against any party involved in the alleged "infraction".
You should have WCB coverage. If you fall off a ladder and break your hip..you'll be real happy you have that.
Ken
Columbia Signs
New Member
Very well put.
We do carry insurance.... a ton of insurance and an umbrella policy to even cover us in case our normall insurance doesn't. Cost me about $5,500 a year. We are also bonded (required by some of the companies we do business for).
It's best to sit down with a good insurance agent that knows our industry.
We do carry insurance.... a ton of insurance and an umbrella policy to even cover us in case our normall insurance doesn't. Cost me about $5,500 a year. We are also bonded (required by some of the companies we do business for).
It's best to sit down with a good insurance agent that knows our industry.
I 2nd Columbia Signs, but will add to get several quotes. Some agencies will over sell and it gets a little confusing becasue they are all structured a little diffrent.
At some point the risk out weighs the benefit. And remember Murphys law (which almost became my tagline) Although remote, the possibility exists for a lawsuit everyday and there will always be some lawyer out there that will take it. With no insurance the first stop is your wallet, then assets and so on. I would feel naked without insurance, and that would be bad for everyone!
At some point the risk out weighs the benefit. And remember Murphys law (which almost became my tagline) Although remote, the possibility exists for a lawsuit everyday and there will always be some lawyer out there that will take it. With no insurance the first stop is your wallet, then assets and so on. I would feel naked without insurance, and that would be bad for everyone!
DRPSignsNGrafix
New Member
insurance is defiantly a way to go. Even if you running out of your house. you need to make sure you have it especially at your house , if it's a business. Cause if something ever happened your home owners ins would not cover it, unless you had a ryder. They don't cover business stuff in your without a ryder for it. Trust me from experience.
Arlo Kalon 2.0
New Member
I'd like to add a plug for a type of insurance I've been recommending to self employed folks for 2 decades. In 1986 my business was at the heigth of success. I was in my thirties and living in the third new house I had built. Suddenly one morning I was struck with massive internal bleeding from a rare birth defect in my small intestine. Six months of disability following a major surgery found me laying in bed, unable to lift a gallon of milk, and having my house and new shop building foreclosed on. All because I was young and thought I was bulletproof. I remember an insurance agent suggesting to me that I carry my own income replacement/disability insurance and I balked at the idea. If I had had the policy I'd still be living in my custom house and using my custom designed shop building. These policies are cheap too.
Billct2
Active Member
Arlo,
Personal disability cheap?
Not that I found, it's also complicated with many different coverages available.
Sarah,
Liability insurance is cheap (relatively). And if you ever have clients or their vehicles at your house you need coverage.
If you install anything you need coverage.
Personal disability cheap?
Not that I found, it's also complicated with many different coverages available.
Sarah,
Liability insurance is cheap (relatively). And if you ever have clients or their vehicles at your house you need coverage.
If you install anything you need coverage.
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Git-R-Done
New Member
The other thing with home based business is damage to equipment and such in a catastrophe. Home owners will say you are sh*t out of luck in most cases. I work from the basement and I still have a $2 mil policy. I pay an even $500 a year for this and it is well worth it.
Now if you do install from your home or anywhere else that the customer drops the vehicle in your possession, you need what is called garage keepers coverage. This is pretty pricey for a small one man shop in my opinion so I just opt to do installs at customers place and not have any vehicle in my "possession".
I have only come close to needing my insurance once and it was for something I never thought would be a problem. I had a 10' ladder up and was putting a banner up over a store front on a windy day. I got off the ladder and the ladder blew over. Luckily there was no one standing there and the ladder fell between my work truck and the big glass windows. I just missed that big repair or lawsuit by a few feet.
Just my 2 pennies.
G-R-D
Now if you do install from your home or anywhere else that the customer drops the vehicle in your possession, you need what is called garage keepers coverage. This is pretty pricey for a small one man shop in my opinion so I just opt to do installs at customers place and not have any vehicle in my "possession".
I have only come close to needing my insurance once and it was for something I never thought would be a problem. I had a 10' ladder up and was putting a banner up over a store front on a windy day. I got off the ladder and the ladder blew over. Luckily there was no one standing there and the ladder fell between my work truck and the big glass windows. I just missed that big repair or lawsuit by a few feet.
Just my 2 pennies.
G-R-D
jtrainor56
New Member
Try either of these, I have the 2nd company listed
http://www.mckayins.com/
http://www.businessquote.com/
http://www.mckayins.com/
http://www.businessquote.com/
TheSnowman
New Member
We're covered. It's like $700 a year for both of my company's, and I'm thinkin' it's coverage up to like $1,000,000. Pretty decent deal. Of course, never used it, and never inted to...but, waddya gonna do.
Arlo Kalon 2.0
New Member
Service Sign Co
New Member
All of the above is good advice. Most places to my knowledge, require you to be bonded (insured) to pull a permit to install a sign anyway
Billct2
Active Member
My disability is about $2400 a year, for bridge coverage that kicks in after so many days disabled and lasts until I would qualify for SS disabilty a few years later.
It's expensive considering what it would actually pay out.
And that is only personal disability, interruption of business coverage is
a whole nuther question.
It's expensive considering what it would actually pay out.
And that is only personal disability, interruption of business coverage is
a whole nuther question.
I have my shop at my house like a few others here. I carry insurance for the business and it runs about $100 a year. Since the shop is on the same piece of land that the house is on you would think home owners would cover it but they don't. I have liability and equipment coverage, would not try it with out it.
Jimmy
Jimmy
Some of these price quotes make me want to relocate... first thing tomorrow mormning.
I am legally based, primarily, in Pennsylvania. We pay $1900 a year minimum for WC, calculated as a percentage of payroll (and the owner is NOT covered under Pa. Workmans Comp). We pay $1900 a year Gen Liability with 3,000,000 balanket coverage. We have never had a claim of any kind.
I am legally based, primarily, in Pennsylvania. We pay $1900 a year minimum for WC, calculated as a percentage of payroll (and the owner is NOT covered under Pa. Workmans Comp). We pay $1900 a year Gen Liability with 3,000,000 balanket coverage. We have never had a claim of any kind.
S
SignTech
Guest
Home or store front simple answer ... yes.
Tailored to the level of work you do ... the more dangerous, the higher up the more you will need ...
We carry 3,000,000 ... any electrical is strictly subbed through our electrician ... I do not even change bulbs ... even though we sub all electrical to him ... we will also be sued ...
Like others stated ... sit down with a REAL insurance agent (they all promise you all kinds of stuff) and lay out a policy that works for you ...
We use Erie ...... decent company. Covers, our shop, vehicle/s, contents and liability .......
~M