Insurance Rates !

[bthompson]

I have been a contractor for 9 years in Michigan. I just recently moved to Florida (sick of working in the snow), and I'm having a difficult time getting general liability insurance. Most companies require at least 1 year experience - in Florida only. One company would insure me but the premium was $17,000! I was paying $3,000-4,000 in Michigan. Has anybody else had this problem? Can you recommend any insurance carrier?

[Carl Sperry]

In CA my premium went from $1800 to $3600 w/ no claims. That was for a 300k policy. Here in SC I got a 1,000,000 policy for $1400. Go figure! W/C is $24 per $100 of payroll for carpentry. Way, way, way, way, way, way.......................... less than CA.

Keep shopping around.

[Tom Teka]

I am a new contractor and I am about to buy my GL insurance 1,000,000/2,000,000 for about 9K here in CA. It is called an artisan builder policy. Buying a policy is really tough as you don't see the policy before buying it. The things I considered important is buying an "occurance based"policy with "no sunset"clause.
If anyboy has experience with insurance purchase or had problems, their advise would be really helpful.

[Deck-Mate]

I just spent twenty minutes on that netquote site to see if I could get a lower rate than I have now -- they just emailed me saying that they can't find any agents in my area (metro Detroit). Waste of time.

bthompson, who was your carrier when you lived ni MI?

[Dick Seibert]

Tom:

In California $9K is about right for an artisan $1 million dollar policy (25% subcontract limitation). Policies which allow unlimited subcontracting are now available in California for about $75,000, the only limitations being new homes, which every company has a different policy on. Mine is I have to submit each new home for evaluation and pricing (estimated to be $75,000 per million per home).

[CogentRES]

I just spent twenty minutes on that netquote site to see if I could get a lower rate than I have now -- they just emailed me saying that they can't find any agents in my area (metro Detroit). Waste of time.

bthompson, who was your carrier when you lived ni MI?

We use NuStar. They are a Michigan based insurance company and they have been great.

I do not know how your company works. But since I am out on the jobs and have a payroll, my insurance is very reasonable because I am not a paper contractor. I am essentially a GC (was upfront and honest with the ins company) but finding a GC insurance is very very difficult here.