Insurance costs

[bindian]

In recent emails, I had been given a cost of $750 for my tractor liability insurance in my new start up business....Big RED Beast Excavators. Now the Farm Bureau agent just sent me quote of $2806. My question is what insurance do Y'all have and how much do you pay for digging in the dirt?
hugs, Brandi

 

[ricklman]

St. Farm.... Brand spanking new Kioti CK30HST and implements.... $299 US. -- Note: Strictly farm use, NON Commercial.

 

[Mrfarmertrees]

I have a small tractor mowing business. My general liability insurance is around $760 a year. Good luck.

 

[koamfps]

2 NH Tractors, Trailers and AG equipment. Right around 500.00 a year Farm Bureau! Small Business Liability Michigan

 

[Bob Rooks]

Is that for a performance bond too? Usually those are for specific jobs.

 

[bindian]

Thanks for the replies guys, but I am asking for business liability insurance prices from businesses that dig in the dirt, as in excavations. I have Farm Bureau insurance on the tractor and trailer and my truck now, but am looking for liability insurance for just the tractor to do as a business, what I like to do at home................dig in the dirt.
hugs, Brandi

 

[bindian]

Is that for a performance bond too? Usually those are for specific jobs.

Bob,
No, it is not a performance bond. The quote is just for general liability for digging. The agent says if it was not digging, it would go down to around $1800. I am wanting to start up a weekend type tractor use business.
hugs, Brandi

 

[MtnViewRanch]

Brandi, I have no idea what insurance for what you want to do is going to cost you. What I do know is that it is going to be a bunch of money. I have 2 different businesses, the insurance people love me. I have had 2 claims in 37 years of doing business, won one claim lost another for 14k. Those claims were over 20 years ago. I don't dig in the earth, but I do weld. My insurance is quite a bit north of what you have been quoted. My understanding is that any back hoe biz is expensive to insure.

You might find that it is hard to be a weekend business, do it all legitimate and have it be worth your time and effort. Not trying to shoot you down, just saying how it is. Your truck and trailer have to be insured differently also, and that is more money. It may be a lot different in Texas, but in California, it is just about impossible to do what you want to do and make any money for yourself.

Good luck

 

[kootch88]

I am a SF agent. It depends on your location obviously. Anytime you do anything more than superficial lanscaping type of digging it gets expensive. If you were in Maine the $2800 quote does not seem bad at all.

 

[Bob Rooks]

If you call it "Landscaping" it's cheaper than "Excavating/Grading/Digging".
Here is a site that you can run various scenarios (for free).

Contractors General Liability Quote - Coverage - Contractor General Liability Plan - Construction General Liability