Having a Hard Time Deciding if I Have Enough Ins. Coverage-First Time Getting it

[ShineTimeDetail]

So I looked into getting insurance but dont know what is too much or too little. If I'm working on say 50K cars what do I need to be covered with? I also want to get my equipment covered and that would be another policy I would have to get. I just get confused while I'm talking on the phone and they are throwing these terms and coverage out there. Can someone help me out?

I'm completely mobile so I do move cars around in parking lots. Also if I get a dealership I will be driving cars from their lot to a set location to detail them.

[Bates Detailing]

I pay roughly $95 bucks a month for 1,000,000 per occurrence and 2,000,000 aggregate (I think that is correct) This covers myself and up to 5 employees. BUT - It does not cover moving vehicles. If I had that I think it was going to be like 140 a month or something close. Hope this helps.

[ShineTimeDetail]

The quote I got was $65 per month at; $300,000 Per "Accident" and $900,000 Aggregated. Then $35 per month for equipment--But it says up to $10,000 per item under $1000. What about my trailer and my $1400 pressure washer?

[tkendrick]

Tom, I happen to be a property and casualty agent in Texas and may be of assistance.

I would suggest you walk into a local independent agents office. Ask if you can speak with an agent. He should be happy to help you.

Describe what you do, who you work for (customers), how long you've been in business. If he uses a term you don't understand, ask him to explain.

You should think of him as a business consultant. Any agent can give a quote, you should expect your agent to help protect you in the event something goes wrong.

Tell him your new to insurance and need him to explain the coverages, what they cover, what are the limits (how much the insurance will pay in the event of a claim), what coverages you need and why.

Your going to need a general liability policy with some coverages for your equipment. You may want to ask about your vehicle and mobile equipment covered by a business policy. (I assume you have them covered by your personal policy)

A lot of business owners treat their insurance coverages as pain in the neck, until something bad happens. Invest a little bit of time to understand why it is important to protect yourself from the unforeseen. You may well be glad you did.

Hope this helps
tkendrick

[Bates Detailing]

The quote I got was $65 per month at; $300,000 Per "Accident" and $900,000 Aggregated. Then $35 per month for equipment--But it says up to $10,000 per item under $1000. What about my trailer and my $1400 pressure washer?

If this includes moving the vehicle that doesnt sound too bad. My 95 a month includes RV and bus coverage as well - but again not moving the vehicles.... funny that they wont cover aircraft even though I have detailed more aircraft in my life than anything else lol.

Good luck man - the gentleman that just responded is spot on - you should just go in and say explain every detail :dblthumb2:

[Flannigan]

If this includes moving the vehicle that doesnt sound too bad. My 95 a month includes RV and bus coverage as well - but again not moving the vehicles.... funny that they wont cover aircraft even though I have detailed more aircraft in my life than anything else lol.

Good luck man - the gentleman that just responded is spot on - you should just go in and say explain every detail :dblthumb2:
What do you need insurance for if you aren't moving the vehicles?

[Bates Detailing]

What do you need insurance for if you aren't moving the vehicles?

It gets me the bigger clients like Enterprise, the Bus company I service, etc. Without any kind of insurance they would not allow me to touch their vehicles. $95 bucks a month is nothing for what I make with these companies and the other clients I will pick up in the near future.

[Flannigan]

It gets me the bigger clients like Enterprise, the Bus company I service, etc. Without any kind of insurance they would not allow me to touch their vehicles. $95 bucks a month is nothing for what I make with these companies and the other clients I will pick up in the near future.
Ok I see. I guess for big companies like that it makes sense. I thought you were talking about insurance for regular clients' vehicles.

[Mike Phillips]

Tom, I happen to be a property and casualty agent in Texas and may be of assistance.

I would suggest you walk into a local independent agents office. Ask if you can speak with an agent. He should be happy to help you.

Describe what you do, who you work for (customers), how long you've been in business. If he uses a term you don't understand, ask him to explain.

You should think of him as a business consultant. Any agent can give a quote, you should expect your agent to help protect you in the event something goes wrong.

Tell him your new to insurance and need him to explain the coverages, what they cover, what are the limits (how much the insurance will pay in the event of a claim), what coverages you need and why.

Your going to need a general liability policy with some coverages for your equipment. You may want to ask about your vehicle and mobile equipment covered by a business policy. (I assume you have them covered by your personal policy)

A lot of business owners treat their insurance coverages as pain in the neck, until something bad happens. Invest a little bit of time to understand why it is important to protect yourself from the unforeseen. You may well be glad you did.

Hope this helps
tkendrick


Gosh! Great first post.

Joining a detailing discussion forum and in your first post taking the time to write a thoughtful and helpful reply to someone you've never met.

Nice work and welcome to Autogeek Online!


:welcome:


Quote of the Day #1 (http://www.autogeekonline.net/forum/off-topic/30519-quote-day-1-a.html)


:xyxthumbs:

[gewb]

What do you need insurance for if you aren't moving the vehicles?

Let's see...what COULD happen?

> Product you use discolors interior (dash, seats, GPS nav screen, whatever)
> Dog knocks over your lights, right onto the hood - dents/paint scratched
> Buffer "gets away" and burns a 10" spot
> water over spray soaks customers "priceless" item he stores unprotected
> Customer claims you caused that scratch/dent on the bumper

The list is endless, as are scammer customers. You NEED to protect yourself and your personal assets.

Regards,
GEWB

[Flannigan]

Let's see...what COULD happen?

> Product you use discolors interior (dash, seats, GPS nav screen, whatever)
> Dog knocks over your lights, right onto the hood - dents/paint scratched
> Buffer "gets away" and burns a 10" spot
> water over spray soaks customers "priceless" item he stores unprotected
> Customer claims you caused that scratch/dent on the bumper

The list is endless, as are scammer customers. You NEED to protect yourself and your personal assets.

Regards,
GEWB

Ok lets say any one of those things happens (other than the priceless thing since insurance won't help you there). I am fairly good at what I do, and have never damaged a customer car. Now I have damaged my own vehicle when practicing, but thats a different story. That being said lets say I've been paying for insurance for 10 years. That comes out to about $11,400. There is no way that repainting or repairing damage to a vehicle will cost that much. I would much rather pay it out of pocket and save the rest. If you are having to use your insurance more than a couple times, maybe it's time to look for a new line of work.

I'm not saying that to be a jerk, just saying sometimes it's not needed. But thats just my opinion, which isn't worth all that much..lol

[Porsche Pilot]

Gosh! Great first post.

Joining a detailing discussion forum and in your first post taking the time to write a thoughtful and helpful reply to someone you've never met.

Nice work and welcome to Autogeek Online!


:welcome:


Quote of the Day #1 (http://www.autogeekonline.net/forum/off-topic/30519-quote-day-1-a.html)


:xyxthumbs:


My thoughts exactly. Well done!!

[Y2KSVT]

Ok lets say any one of those things happens (other than the priceless thing since insurance won't help you there). I am fairly good at what I do, and have never damaged a customer car. Now I have damaged my own vehicle when practicing, but thats a different story. That being said lets say I've been paying for insurance for 10 years. That comes out to about $11,400. There is no way that repainting or repairing damage to a vehicle will cost that much. I would much rather pay it out of pocket and save the rest. If you are having to use your insurance more than a couple times, maybe it's time to look for a new line of work.

I'm not saying that to be a jerk, just saying sometimes it's not needed. But thats just my opinion, which isn't worth all that much..lol


This is the mentality people have...... until it comes to paying for that "mistake." My brother has a friend that doesn't believe in health insurance. Last year he had a blood clot that almost killed him. He's now sitting on $70k+ in medical bills, all because he "doesn't believe in health insurance."

If you're a start-up business, you probably don't have $6k just sitting around if you have a "mistake" in your first couple of details. It could have been out of your control, but you're still liable if it happens under your watch. You'll wish you had coverage in this scenario. Or for instance, you're polishing out an exotic 3-piece wheel when your tool fails and you end up with a big scratch in the wheel. Some of those wheels, believe it or not, run north of $10k each. These types of customers, no matter how rich they may be, are not going to be cool with paying for a new wheel out of their own pocket.

Just a few thoughts on how insurance is a must.

Mark

[Flannigan]

This is the mentality people have...... until it comes to paying for that "mistake." My brother has a friend that doesn't believe in health insurance. Last year he had a blood clot that almost killed him. He's now sitting on $70k+ in medical bills, all because he "doesn't believe in health insurance."

If you're a start-up business, you probably don't have $6k just sitting around if you have a "mistake" in your first couple of details. It could have been out of your control, but you're still liable if it happens under your watch. You'll wish you had coverage in this scenario. Or for instance, you're polishing out an exotic 3-piece wheel when your tool fails and you end up with a big scratch in the wheel. Some of those wheels, believe it or not, run north of $10k each. These types of customers, no matter how rich they may be, are not going to be cool with paying for a new wheel out of their own pocket.

Just a few thoughts on how insurance is a must.

Mark

Health insurance is TOTALLY different. I would never tell someone not to get health insurance. You are dealing not only with your life, but a much higher price if something goes wrong.

In my book nothing happens that is out of your control. If you are paying attention to what you are doing the likely hood of something happening ar slim to none. Paint just doesn't burn through by itself and wheels don't get scratched by themselves. I think I will just say I have a different opinion and it has worked for me.

I'm not saying don't get insurance, I was just trying to speak from the other side of the issue.