Insurance Commerical Tractor Insurance

[SkyPup]

The FarmOwners Association adjacent to our property has asked us to grade their road with our L-3130 TNT GST using our Bush Hog 84" box blade. They offered me a one year contract for $50 per hour and $500 bonus to start.

I called up my Florida Farm Bureau insurance agent to ask about acquiring a Commerical Liability policy, since the tractors are only covered on our own property not for hire.

Anyhow, after fielding many options (including setting up a corporation and transferring the title to the tractor from our name to the corporation's name) we were finally able to get $1,000,000 Commerical liability coverage for only $60 per year!! /forums/images/graemlins/grin.gif

Originally I had been quoted it would be $1,200-$1,500 for a commerical one million dollar policy.... /forums/images/graemlins/blush.gif

 

[JimMorrissey]

So how did you do it?.....PM is necessary. Like to hear.

Good deal on the insurance and the job!

 

[SkyPup]

It pays to know your insurance agent well.

Mine is in our hunt club and has known me for >10 years.

He had to shop around to various underwriters for the commerical policy for me as an individual, not a corporation, and ultimately he was able to convince one of the underwriters that I was a good customer and a low risk. I almost fell over when he told me the entire policy binding my tractor work would only be $60...... /forums/images/graemlins/blush.gif