insurance

admin

hey all           for my buisness       ag assist llc- farm & facility maintance repair remodeling specializing in welding and decorative iron works.    My insurance provider told me that i need to carry both general liability of at least 1 million and welding liability coverage of at least 1 million.   Does this seem right?      How many of you strictly welders carry welding insurance?   thanks kylewww.burdettenetworks.com
Reply:also what do you pay if you dont mind?  thanks kylewww.burdettenetworks.com
Reply:I keep general liability.  My general liability states that I will be performing welding etc... so I was told that the general liability covered all of my work, and I have never been asked for a separate "welding" liability policy.I'm a Lover, Fighter, Wild horse Rider, and a pretty good welding man......
Reply:I carry liability insurance, $1M coverage for mobile (customer location not a fixed shop) welding.  The policy I have also covers my equipment, not including truck(s).  For those I have seperate vehicle policies.  Premiums that I was quoted a year ago ranged from $1800 to over $4000 per year.  Get a good broker, as the quality of coverage did not correlate with the cost of premiums.  Oh, I also finance the annual premium over 10 payments for about another $75 in fees.  One of these days I hope I can pay the whole year up front, but my fnances don't support that yet.-DABBenson's Mobile Welding - Dayton, OH metro area - AWS Certified Welding Inspector
Reply:hammack that is what i thought too. that my general liability would cover me as well.  I think I need to ride this guy a little harder and get the real deal.  I am not going to go out there without my azz covered but i dont need 2500 to 3000 of insurance bills  right off at startup you know?        I personally thought (of course with no investigation ) that my general liability insurance would cover all of my actions conducted on somebody elses property.      Another question I had that i ran by the insurance man was if i build a railing or something and it breaks and somebody falls down some stairs and get sue happy am I responsible if it breaks 5 years after I have installed it and he said could be.  I asked him how when i wouldnt know if it had been properly maintained etc.  or if consistent abuse from say skateboarders or some front azz ers'  (read excesivley large woman who appears to have a glutius maximus on the front of her pelvis.)  has worn it to the breaking point.  His extremley helpful answer was I dont know but people lose buisnesses all the time over bull shiat like thatwww.burdettenetworks.com
Reply:Your insurance man is an idiot,,,,,,,  You should, right now, be looking for a better one.If nothing else,,,,,   and bring everything with you that you think is relevant, and even the paperwork you don't think is relevant, but be organized,,,,,  time is money,,,,   set up an appointment with a good commercial lawyer, a short 1/2 hour conversation with him shouldn't cost more than a couple hundred or so, the knowledge and information you gain will easily be worth that.
Reply:Thanks for the advice mark I have already set up an appointtWith a laywerwww.burdettenetworks.com
Reply:I had GL ins. for carpentry/construction=@$1500 per year (2M - 3M coverage i think, big houses here)when i added welding to the same policy....another 4 pages of questions and @ $1.5K later, with a lot of exclusions i was covered. Doubled my GL premium.for some reason they dont like you if you weld "tow hitches"....big problem!I can weld the while trailer together out of 4" long cuttings of scrap, thats fine.But to weld a towhitch seems to be a hanging offense.Now the Nuclear reactor, and the space shuttle exclusions i can live with.Now i just get paid cash for tow hitches or not at all.Funniest part is that if you get certified it makes no difference to your premiumG
Reply:I know with my GL policy for construction there are certain things I need to get a separate policy for, IF I want to do them. Building collapse is one. My 1mil policy will cover small additions, but not cover basements or large frame construction (3 story house for example).I could see the same thing with welding.I agree shop around. When I looked at insurance, I could get it thru the same guy I deal with for my commercial auto insurance. $250K for about $1500/year. Talked to a buddy who does Xray installations about who he used. He had dealt with several companies because a lot of insurance don't want to cover xray because of "radiation". His broker got me the 1 mil policy with $15K rider for my tools for less than $900/year, and was much more knowledgeable than the other guy. My auto with him would have been higher so I stayed with my original agent for that.
Reply:1M 2M 1M no trailer hitches or open hole work $1300 a year and at first i carried workers comp. but I'm a sole proprietor so now i sign a affidavit of exempt status under the workers compensation act and i don't have to carry it any more
Reply:Originally Posted by kburdThanks for the advice mark I have already set up an appointtWith a laywer