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Thomas Kasper
Posted: May 14, 2007 09:18 PM
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insurance
How much are you guys paying for insurance for spraying residential foam insulation? I pay about 2,500 a year. My premium is coming up and I wonder if I can get it cheaper of if this is a normal amount. It was hard to even find a company to insure spf. Thank you |
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philip mullins
Posted: May 15, 2007 05:06 PM
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depends on ur coverage. and how long you been in buisness. i pay about 9g's a year. that is for a 5 million dollar policy. i am a gc that specializes in decks, pools, and now spf. i have been in buisness for 8 years with no lost time accidents or damage claims. it just depends. all you can do is shop around. when you find an insurer ur happy with (yea, right!) stick with them. changing insurers every year or two will drive ur premiuns up in the long run. good luck |
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Thomas Kasper
Posted: May 15, 2007 09:00 PM
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Ya there is a lot of variables. I have a 2 mil policy, specializing in spf with residential construction on the side. Before I had the spf it was the same except the premium was about 600. spf seems like it's expensive the insure but, it could go down in a couple years with the same company and no claims. I will be in my second year next month. |
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Posted: May 17, 2007 07:38 PM
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300,000 liability policy. $500.00 deductible.$1259.10 per year ($55.10 more than last year. nautilus insurance co,7273 E. Butherus, Scottsdale arizona 85260. 480-951-0905 fax:480-951-9730. this is an excess lines outfit. why am i getting coverage from a surplus lines insurance co? your agent may have been unable to obtain the coverage you requested from companies licensed in your state or they declined to write the policy. in circumstances where licensed insurers will not accept the risk, most states allow the broker to obtain insurance from an "excess lines" insurer. surplus lines transactions are regulated by state laws that require surplus lines policies will only be procured only by specialy licensed brokers. each state also has financial requirements other elgibility requirments. in other words, your present agent can contact this or any surplus lines insurance co to get insurance for spraying foam. if you live in arizona,north carolina, or virginia this company can direct insure. (licensed in these states a a regular insurance co.) hope this saves you money so like me, you can better compete with the hillbilly foamers who have zero insurance. |
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Posted: May 18, 2007 06:45 AM
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...at the risk of... well...sounding like a poop... $300,000 general coverage liability??? you may as well have no insurance,,, most general contractors will look at you and your company as a liability,,, a risk to have on the job site,, a risk to the structure being built, the materials on the job site, the equipment on the job site, and the other sub contractors as well (GD i hope you have work comp) (imagine... spray gun falls off scaffold,,,,hits plumber below on noggin,,,he hits floor...line to gun block breaks with force of fall...iso running all over the plumber and the structure...imagine...) the only thing worse than uninsured is underinsured.. its like having a gash on your arm 4" long that needs stitches,,but only paying the doc to stitch it up about half way... i was doing an addition way back in the begining,, had the rig jump a block,,roll back into an existing garage,,,that had a 1975 formula ferrari in it..worth $550,000...(paul newmans car actually) well,,,big ass chock blocks,,,and the parking brake fixed was in order...along with the call to the insurance company...to fix the garage..missed the car by about 3",,thank you god,,but i think you get my drift here... |
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Posted: May 18, 2007 07:52 AM
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i am trying to help the guy who wants to save money. and understand a little bit of how the insurance world works. foamdude, we had this same discussion a year ago. you told me the same story. if my trailer hit the garage and mr newmans exotic car, i am covered. my truck and trailer have a commercial policy.(one million dollars) i have workmans comp plus blue cross,delta dental,and so on. liability insurance. when needed i call the agent who bumps up my policy to 500,000 or one million. after job completion, i call him back up and knock it down to 300,000. i knock off part of my comercial policy if i go out of town for extended times.(keep comprehensive insurance)i pay $2400.00/year/proggressive ins. i am sure your rig has sat for a week or so too. assuming that you have affordable insurance, who is your carrier and what do you pay? |
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Posted: May 19, 2007 01:29 AM
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and your agent allows you to buy a rider at your convienience and then drop to minimal coverage at your convienience whenever and however many times a month you choose to do this?...did you marry his daughter??(just kiddin there rooofy) no insurance here...im a hillbilly... united fire & casualty...will ask the accountant how much the premium is,,,seems i pay $~350q month with comp and liability, equipment, vehicles and the like bundled together... if my rig sits longer than 2 days i start posting on the forum,,,not a good thing.. |
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Posted: May 19, 2007 07:28 PM
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i just fax over my request in the evening to have an insurance certificate sent by fax or mail to the customer. no being stuck on hold during the day. they fax back a confirmation in the a.m. i have the insurance info sent to the customers who dont ask for it. it makes them (sometimes) ask other foamers and hillbilly foamers for insurance info. my agent has two extra sized secretaries. i drop off a box of crispy cremes in the early a.m. every 90 days! small investment! actually this discusion caused me to call progressive and discuss my insurance today. i found out i can save $142.00 because i already have a workmans comp policy. so i can reduce the medical part of the progressive premium. also if i pay the whole premium at once i can also save like $112.00 |
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James Healy
Posted: Jul 24, 2007 10:52 PM
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I really hope you guys can help me on this. I had a contractor who said he was in the business for 15 years. I went with them because they trained the other two companies I was looking at and they were cheaper. They said they knew how to estimate better. I was to get 6 inches of 0.5 foam. After a winter of the huges ice dams in the neighborhood I had the attic inspected by three firms, one with infra red technology. THe average amount of insulation was 2.5 to 3 inches. I had a penetration cut for a bathroom vent and this was confirmed. The contractor said I should have said something when he was still on the job. HUH? My question is does a contractor have any kind of insurance that may cover a botched job like this? Have you ever heard of anyone in this situation? I would rather not go the legal route yet. Not very fond of lawyers. Could their insurance help me out in some way? Thanks in advance |
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Tim O'Keefe
Posted: Jul 28, 2007 09:06 PM
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I just signed a new policy and I think I have a great deal/premium. I have a $2M General liability policy, a $500K commercial auto policy, my rig and equipment full coverage and $10K inland marine for the foam in the rig. Total of $1600 per year. This is with an A+ rated insurance company not some fly by night company. I had received quotes for 2-4X that amount for similar policies so I am REALLY glad to have bound coverage at this price! Tim Granite State Spray Foam Co. |
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Gerry Wagoner
Posted: Aug 01, 2007 02:07 PM
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Not bad Tim. 3 mil GL policy here. 7 commerical vehicles 8100 ft2 shop (150k on building and 100k on contents) About 6k per year at Westfield. og |
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michael DiBenedetto
Posted: Aug 14, 2007 02:37 PM
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The Scottsdale AZ insurance lead is for excess line ins. which is very high price--- any suggestions for a co. that may carry a million$ liability policy for spray foam. My co. says it wont because of previous mold and haz mat claims and says the excess line ins. will be about $5-9K/year. thanks for the help |
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Huey Reed
Posted: Sep 19, 2007 10:18 PM
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contact http://www.gracegroup.net/ for insurance they're big in foam. harco |
