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LLC and Insurance #7615424
06/29/22 02:49 PM
06/29/22 02:49 PM
Joined: Apr 2009
Posts: 8,452
South Ga - Almost Florida
S
Swamp Wolf Offline OP
trapper
Swamp Wolf  Offline OP
trapper
S

Joined: Apr 2009
Posts: 8,452
South Ga - Almost Florida
Well...just completed acquiring general liablity insurance (1 million $) and set up my LLC.

That's $1grand per year b4 I kill another beaver or coyote......ummm!


Thank God For Your Blessings!
Never Half-Arse Anything!

Resource Protection Service

Re: LLC and Insurance [Re: Swamp Wolf] #7615486
06/29/22 04:21 PM
06/29/22 04:21 PM
Joined: Feb 2007
Posts: 763
Killingly, CT
Brian Mongeau Offline
trapper
Brian Mongeau  Offline
trapper

Joined: Feb 2007
Posts: 763
Killingly, CT
Good investment in the sue happy world we live in.

Re: LLC and Insurance [Re: Swamp Wolf] #7615505
06/29/22 04:55 PM
06/29/22 04:55 PM
Joined: Dec 2006
Posts: 5,543
SW Pa
B
Bob Jameson Offline
trapper
Bob Jameson  Offline
trapper
B

Joined: Dec 2006
Posts: 5,543
SW Pa
Some companies that we do work for won't accept the 1 million coverage. We had to increase our coverage years ago due to those that require corporate liability of 2 mil or more.

Many insurance agencies won't write anything less in our market area. Glad you got established. It sure gives you peace of mind to be protected. Hope you never have to use it.

You will have to add the additional cost of doing business into your first few jobs every year to get re reimbursed.

Re: LLC and Insurance [Re: Swamp Wolf] #7615602
06/29/22 07:19 PM
06/29/22 07:19 PM
Joined: Dec 2006
Posts: 830
Adirondacks, N.Y.
T
trapdye Offline
trapper
trapdye  Offline
trapper
T

Joined: Dec 2006
Posts: 830
Adirondacks, N.Y.
Yea, It's surprising how much coverage some companies look for, A few years back Wal Mart wanted a million in coverage to trap rats out of retention ponds and on the other hand, The Great Escape theme park asked for my auto insurance as coverage, go figure. Yes it gives you peace of mind, But I still worry.


John's Nuisance Wildlife Control
If you like what you do for a living, It's better than a vacation. Most days.
Re: LLC and Insurance [Re: Swamp Wolf] #7615642
06/29/22 08:10 PM
06/29/22 08:10 PM
Joined: Apr 2009
Posts: 8,452
South Ga - Almost Florida
S
Swamp Wolf Offline OP
trapper
Swamp Wolf  Offline OP
trapper
S

Joined: Apr 2009
Posts: 8,452
South Ga - Almost Florida
So far my biggest clients (large timber company and a hospital authority) asked for a 1 million $ policy and to be an LLC.

All my other clients are small landowners/farmers/plantation owners....don't even care if I'm insured or LLC'd.


Thank God For Your Blessings!
Never Half-Arse Anything!

Resource Protection Service

Re: LLC and Insurance [Re: Bob Jameson] #7615696
06/29/22 09:14 PM
06/29/22 09:14 PM
Joined: Aug 2014
Posts: 677
South Central PA
oneoldboot Offline
trapper
oneoldboot  Offline
trapper

Joined: Aug 2014
Posts: 677
South Central PA
Originally Posted by Bob Jameson
Some companies that we do work for won't accept the 1 million coverage. We had to increase our coverage years ago due to those that require corporate liability of 2 mil or more.
.


I put in my estimates that I carry $1M of coverage and any additional coverage requirements will be billed.

Re: LLC and Insurance [Re: oneoldboot] #7615799
06/29/22 10:55 PM
06/29/22 10:55 PM
Joined: Apr 2009
Posts: 8,452
South Ga - Almost Florida
S
Swamp Wolf Offline OP
trapper
Swamp Wolf  Offline OP
trapper
S

Joined: Apr 2009
Posts: 8,452
South Ga - Almost Florida
Originally Posted by oneoldboot
Originally Posted by Bob Jameson
Some companies that we do work for won't accept the 1 million coverage. We had to increase our coverage years ago due to those that require corporate liability of 2 mil or more.
.


I put in my estimates that I carry $1M of coverage and any additional coverage requirements will be billed.

Now here is what I will do....^^^^^^^


Thank God For Your Blessings!
Never Half-Arse Anything!

Resource Protection Service

Re: LLC and Insurance [Re: Swamp Wolf] #7615884
06/30/22 06:17 AM
06/30/22 06:17 AM
Joined: Dec 2006
Posts: 5,543
SW Pa
B
Bob Jameson Offline
trapper
Bob Jameson  Offline
trapper
B

Joined: Dec 2006
Posts: 5,543
SW Pa
I have never attempted that type of billing approach. I know when it is requested our insurance coverage jacket states our limits of liability.

If it doesn't meet their liability limits we needed to update our policy coverage so we just increased our limits to meet the current corparate requirements.

All of our work is bid with all of our expenses in mind. One way or another clients will pay a portion of our annual premium until it is met. Just how business is done.

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