Liability Insurance rates... state of the union.

[John L]

We just got a renewal notice for this years liability insurance premium that is UP $400 for no good reason I can see. We've had no claims (ever, in 30 years of business), no change in credit report, no change in cash flow, nothing different. Agent is at a loss.

The coverage is.. $2,000,000 public liability
$200,000 business real estate property (shop and storage)
$150,000 business property (tools, undervalued)
30 years in business
30 years owner experience
S corporation

No other coverages under this policy. Cars, trucks, workmans comp, are all under seperate policies.

We were at $1400 the last couple years. Now they are at $1800/yr. for the above.

I'd like to know if anyone else would share what they pay, and for what coverage. But I also want to ask... does anyone know what the SIC code is for a bubble wrap manufacturer?

 

[slipperyfrog]

Agent is at a loss.

Time to get a new agent.

 

[WeekendDirectionals]

I wish ours only went up a third. No claims either.

 

[visual800]

I posted this before and Ill do it again

BUSINESS NOW INSURANCE under the HARTFORD
Holly@businessinsurancenow.com

It does not hurt to get a rate. Ive had people PM me on here and tell me thanks! I was paying over $2k a year at a local agency and now I pay less than $1k for the same coverage, it's ridiculous!!!!

good luck and please mention bruce ward visual images sent ya!

 

[John L]

Very helpful visual. Thank you. I'll be calling them.

 

[Jillbeans]

I'm at about $500 a year.
Up from last year with nary a claim.
I just had my auto and home insurance combined with a new policy via Farmer's.
I'm gonna save $840 a year for better insurance.
They are reworking my business insurance now.
Love....Jill

 

[earplug]

Some call it "rate creep". Insurance companies do not value loyalty. You need to have a good multi-line independent agent that can shop on your behalf.

Have your agent (or find a new one) to check into Auto Owners Insurance. Contrary to their name the provide us with some great business coverage.

Jack

 

[Christian @ 2CT Media]

We pay $1925/yr for the same policy + vehicle insurance with $1mil CSL

 

[zmatalucci]

whats are your insurance companies classifying your business as?

 

[jayhawksigns]

I posted this before and Ill do it again

BUSINESS NOW INSURANCE under the HARTFORD
Holly@businessinsurancenow.com

It does not hurt to get a rate. Ive had people PM me on here and tell me thanks! I was paying over $2k a year at a local agency and now I pay less than $1k for the same coverage, it's ridiculous!!!!

good luck and please mention bruce ward visual images sent ya!

We had our multi-line guy check with Hartford but as soon as they found out we did vehicle wraps it was a no go. Something about a case out in California and they won't insure wrap companies. Ours is through CNA right now.

 

[SD&F]

I use Zurich and I have more coverage than you do. My bill came in just today and it did not go up from last year. It is about the same as yours with no claims, long business standing etc...