What type of insurance to I need?

McCoyH · August 12, 2012

We doo flat glass, auto tint, auto detail, and soon window cleaning. I have one employee.

What would you guys recommend for insurance?

coast2coasttinting · August 12, 2012

get atleast 1 million in liability insurance, and legally since you have an employee you are probably supose to have worker comp too.

October 14, 2012

It pays or saves to do some research. I start out thinking I am going to start this little shop for auto and do some res/comm FG and keep it small doing one job a week and work my business up. You start researching some of your simpler cost( learning, lease , supplies, permits, signs, legal/tax ) of getting the business open and running. Let's add insurance to that monthly total and I beginning to think I better be looking at being more productive just to make a profit because there is going to be those who get theirs before I can even get mine.

It appears that you either fly under the radar to avoid cost or you go full tilt so you have something at the end of the month. I understand you got to have insurance or you could lose your butt in the wrong situation. When you are already insurance poor and they seem to get everything handed to them by law if you want to own a home, car, health and business.

I been reading a lot of post from way back to 2005 on people and their insurance coverage and sounds like a necessary evil. Seems like 1-2 million for coverage and maybe around $150 a month. I am looking forward to talking with my State Farm agent this week.

There is cost to doing business that few employees and customers realize when the check is signed.

lostinbama · October 14, 2012

Good post Carolina. Btw my insurance premium had to be paid in full, not in payments which I thought was odd.

TomTint · October 14, 2012

It is possible that the underwriter will require full payment if you do not have any history of liability coverage.

lostinbama · October 14, 2012

My agent said it was that way because it was a commercial policy. Who knows...

coast2coasttinting · October 14, 2012

I wanna say my plan is around $650 per year or $900 if I pay it quarterly, so I pay it all at once. :thumb

October 14, 2012

If I can save hundreds of dollars paying it all at once, That sounds like a good option to check on.

I will talk with my State Farm agent first since I have almost all my insurance with them and hoping for a better deal and after that start looking who can sweeten the pot.

Considering how few claims get reported it would be wiser to go with a high deductible to keep premiums lower.

Thanks for the comments.