We all agree we should have it.
Right?
But my question goes beyond buying the policy to actually using it. I read my actuall policy nay years ago but haven’t reviewed it since.
After my wife’s long deal with cancere we have found out about the many things that health insurance DOESN’T cover – to the tune of 60K
So I got to wondering whether anybody here has stories of have needed that liability policy and whether it was actually any good. I’ve never had a claim and hope never too. But I get to wondering…
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Excellence is its own reward!
Excellence is its own reward!
Replies
My clients house was robbed one evening after I locked up and left.
Lot's of interesting circumstances surrounding this whole thing........other subs in the house that day, key left under mat, balcony door left unlocked, cheap radio transmitter type garage door opener.
Long story short; finished the job, got paid in full, seemed at the time the only one who felt bad was me, just bad for them, not guilt mind you. Almost a year later I get a call from them asking for my insurance co. info. Hey, have a ball that's what I have it for! (turns out that they were grossly under-insured, hubby hadn't upped the policy since the 60's)
NATIONWIDE practically laughed at them (and me) claimed the "event" was a "non ocurrence" by the language of the policy and no coverage was in effect for this type of event.
Short time later I get a call from the lawyer, I once again try to pursue this through my insurance only to have them laugh even harder this time.
Go to trial (jury) my lawyer tears them apart. It was actually funny, they hired a lawyer from the back page of the paper who could have been a spitting image of the lawyer on the movie My Cousin Vinny! I win, case closed, they are STEAMED big time.
Any way, never assume you are covered, always ask, ask ask and ask some more. Insurance companys are here to take our money and make more money with it. Covering our losses is a side job.
Eric
Why did they call it a non-occurence?Do it right, or do it twice.
That's insurance speak for: it's an event that ain't covered by your policy sir and even if you read or think it is it ain't no more!
After all, what are insurance companies for other than to take your money and deny your claims?
Eric
I have my days when it is a full time job to get them to pay something - anything. That leads to days thinking I ought to cut way back anbd take the chance to self-insure...
which leads to thinking about the painter who burned down Windsor Castle.
Not that my two milllion policy would go very far towards repairing it..
Excellence is its own reward!
" take the chance to self-insure...
which leads to thinking about the painter who burned down Windsor Castle."
I don't know how libility insurance is handled, but can you get a "deductible". That is you would be responsible for the first 5, 10, 20 thousand of a claim?
I know that is how some of the "self-insuraned" health plans work. The employee will pay up to a total of xxx,xxx per year and then have excess insurance to cover any large claims.
First off,I think insurance is legal thievery. My liability policy got dropped this year because the company decided not to underwrite GC's anymore. So now I have to find a new one, and I think it's safe to say that I will get reamed by the new insurer. Although I have never had a claim, I'm sure that I will get treated like some brand new company with no history. Not to mention that if my previous insurer had to stop underwriting policies, it can only be because they weren't making enough money.
Anyway, that aside, here's two stories about liability. First one, carpenter who is moonlighting as a roofer doing torchdown leaves the torch connected to the propane and up on the roof at the end of the day. Sometime after he leaves, somebody climbs up on the roof and sets it on fire (or, maybe he set something to smoldering while he's working). Either way, house catches on fire, and fire department comes and puts it out. Damage is not catastrophic, but you can imagine the mess. Either way, he is negligent, and his insurance has to cover the loss.
Second story: A painter, while moving a Steinway piano in my customer's house, breaks one of the legs off and the piano drops and hits the floor. Turns out it was the wedding gift from husband to wife. He claims it wasn't his fault, but his insurance had to cover moving the piano to a repair shop, the repair, the storage while the job is completed, and of course moving it back and setting it up.
Nick,
Seems everybody around me got canceled also. Smallest new policy cost $20,000. Gotta pay those CEO-CFO types.
KK
i had a drop because my insurance company went belly up... my agent didn't tell me my new company could give me a policy for everything going forward as well as one for evrything previlously coverred by the other insurance company..
needless to say..
i got a 3d party claim for an occurance under the previous policy.. and no coverage.. $5000 in legal fees later ... the homeowner's insurance company let me out of the suit... and my agency sent me a "good faith " check for $1000 and a release form for not advising me properly .... i took the check and signed the release..
lesson learned... make sure your new policy covers you for past work.. which apparently is not a big deal... it's past.. so low exposureMike Smith Rhode Island : Design / Build / Repair / Restore
Mike - thanks for the advice - it seems there is a never ending list of ways to get burned... I don't have a lot of faith in the advice my agent gives me... but I hate to change horses in mid-stream. I have a problem which is basically that as soon as I start to read insurance stuff I get a blinding headache.
here in california liabilaty insurance has changed now most problems will be considered profesional malpractice and not be covered. in the case of the propane torch on the roof burning the house down it would not have been coverd.i used to pay just over 1100 a year for 500000 liabilaty my policy got cancelled because insurance company was not making enough money.it is hard to make a profit when you have to pay the executives 4 mill a year. also looked at new policies an found that they are not going to cover much maybe if your ladder falls on someone or someone tripping over a cord or air hose mostly third party injuris no insurance on your work at all everything will be questioned. between the insurance companies and the real estate agents this state is going to collapse. we are seriosly thinking of moving outa here maybe to oregon or washinton state.i have a few relatives in baltimore maryland anybody here know about the work situation in baltimore i wonder how hard it would be to get my busines going there i know the property is affordable. well compared to here that is
Village Handyman, Moving to Washington state will not help you avoid liability insurance. Gov Gary Locke and friends chased my insurance company (State Farm) out of the state last year so I can't work part time as a carpenter anymore. Our Government thinks someone who lays tile needs $250,000 of liability insurance. They think this because they are stupid. really. Rep Kirk Pearson told me that, since insurance companies raised their rates, WA state had to raise the liability caps on top of the rate increase. That is so illogical. I guess he became stupid too.
Darrell
DMAMBLEY,
Have you ever considered that you might burn a house down accidentally? I remember a post by Jim Blodgett a while ago, sharing how a painter who was using oil base stain and some work lights lit up a very expensive place. I realize a tile setter isn't doing crazy things like using dynamite to "fix" his well, but still there's always a risk. I bet the painter Blodgett knew thought enough insurance to cover his mishap would be frivolous.
Jon Blakemore
I don't hasve insurance yet, but based on all the stories you guys are telling, plus my own pucker factor threshold, I have started to shop. State Farm just announced that they are not writing any new policies (of any kind) in Texas, and if you move your residence within the state you get dropped. Nice. Anyway, talked with an independent agent, and here's the quote she came back with:
Gen Agg $300k
Products/completed ops $300k
Personal/advertising injury $300k (Advertising?)
Each Occurance $300k
Fire damage $100k
Medical $5k
Premium: $1,398/yr.
That info was in a faxed quote. What else do I need to ask? There are two exclusions that I know of: no roofing, no foundations. Can I add tool theft, or is that another type of policy?
Do it right, or do it twice.
here's an australian site ( US uses the same terms and definitions ) that explains the important difference between
"claims made" and "claims incurred" coverage..
http://www.mdanational.com.au/about/claimsmade.asp
...... your GL will always be one of the other..
you want "claims incurred" so something from your past doesn't bite you in the a*s like mine did... naturally the ins. co. wants to sell you "claims made" to limit their liability..
also... you want to know about "completed operations" so you can retire or leave the field and still have coverage into the future for your past "liabilities"Mike Smith Rhode Island : Design / Build / Repair / Restore
Think up a few scenarios that might be likely with the way you work. Pose them to the agent to see what response is and follow up with how do I cover for that?
Like my policy covers for theft - but only if all doors and windows are always locked all the time. That one is a laugh since no one heere ever locks up. I'm on a home now with a million dollars worth of art work and antiques inside but the old lady never locks the house - ever. I can only pray she doesn't get hit while I'm working there.
Because of being on an island, it is a rare occurance that theft occours but about once a year something will walk off. Soimebody usually knows who did it though and justice follows. Many eyes behind the trees.....
Excellence is its own reward!
BTW, how is your wife? Better, I hope.
I can't get insurance. Period. End of story.
Never had a claim. No problems. Do small jobs, I'm careful.
My insurance agent can't find a company to cover me. You have no idea how many other people in every kind of business is being dropped. No reason, just will not cover.
I've got to tell you, I'm S**t scared.
Quality repairs for your home.
Aaron the Handyman
Vancouver, Canada
Aaron,
I don't know if they write policies up in Canada-----but look for Erie Insurance. You need an independent insurance agent---not one who is a captive of say State Farm.
I think a couple of other posters here use this company----very affordable for small operations.
I have Erie for everything insurance.
I shopped around a bit before getting the contractors policy.....Erie 5 Star seemed to be one of the best at the time...so I went with it thru my same agent.
Seems to me..the agent is as important as the coverage.
Haven't had a claim on the contractors..or homeowners...but Erie Auto was dragging their feet on a claim a few yrs back and after several calls yelling at them I got my agent involved....yelled at him a bit....a day later they sent out another appraiser and I got the repair done right.
I took the advice I got before shopping around.....after settling on one......make a list of every possible situation you can think of..where you might need covered....
And start the meeting by telling the agent yer both gonna be there awhile!
I had over 2 pages of "what if's" on a legal pad. We went thru it all.
He even added a few possibilities I left out......guess he figured if he had to sit there he'd add a few bucks to the base policy.
I seem to pay about the lowest rates for best coverage when comparing with guys around here. Seems my rates are real close to what guys are paying for the cheapest...."works on paper"..coverage they need to say they're "fully insured".
JeffBuck Construction Pittsburgh,PA
Fine Carpentery.....While U Waite
They don't write here.
My homeowner insurance company even declined me.Quality repairs for your home.
Aaron the HandymanVancouver, Canada
Jeff----not to beat a dead horse----but I have had good luck---excellent really with ERIE paying off. 10-12years ago I had a claim on my contractors policy----the event was clearly my fault,by the way. Erie paid no problem. 6-7 years ago my wife's mini-van was totaled by a hit and run driver( van was knocked up over the curb onto the devil strip,did a 180,fell back on to the street,landed on its roof and ended spinning around on its roof with my wife and mother hanging upside down inside by their seat belts-----would have liked to see THAT by the way)----anyhow erie had a check to us within 3 days.
any problems--minor really ---have been because of the agents,not ERIE.
She's fine, thanks. Had the best of treatment. Now I get to pay for it..
Excellence is its own reward!
Sounds like another case of not just who the carrier is, but where the insured is and what the state laws read like.
Only had one claim. Wasn't covered (you see, if you read the fine print, if the sun is shining, if it's an even numbered day, of if you're within 50 miles of a working boat engine, you're not covered) you know the drill. Ditched them, did a little research, i.e. talking to others, and went with a company that seemed to keep its clientele satisfied.
Another oddity here, which kind of plays into the workmans comp thing a week ago, you can't get WC as a sole proprietor, but your liability policy has to provide for what, in other states, WC would do. So no, you don't carry WC since you don't have employees, but if you fall off a ladder and smash your noggin, your liability policy has to cover your busted head. - same thing, different terminology in a different state.
The idea of $20K for a policy though kills me. That's murderous for a small op.
"The child is grown / The dream is gone / And I have become / Comfortably numb " lyrics by Roger Waters
I can't figure out how a liability policy would cover my own busted head. What am I gonna do? Sue myself for damages?.
Excellence is its own reward!
Good liability coverage from a good agent is the best bargain out there. My guys burned a hole in the carpet on a newly completed apartment. 1500sf. had to be replaced. Agent responded within 4hrs,OK'ed the work,paid the bill. My $250 deductible was "absorbed" into the job.
Quick & relatively painless