ACT Insurance Billing

[mafsu]

Liability Insurance is a small price to pay (I pay about $230 a year) for the validity it adds to your business. How many people would let you touch their car if they knew you had no insurance?

[Robin Hood]

The way I understand the insurance policy the only think that is covered is if someone trips over your tools and gets hurt. It doesn't cover and damage to the vehicle or windshield. If I spilt resin on the car's finish or my belt buckel scratched the car it doesn't cover it. I myself am covered for 500,000 and 5,000 for stolen tools, but can someone explain what good the insurance does for us except to allow me to say I'm insured.

[maxryde]

Robin Hood,

The way I understand the insurance policy the only think that is covered is if someone trips over your tools and gets hurt. It doesn't cover and damage to the vehicle or windshield. If I spilt resin on the car's finish or my belt buckel scratched the car it doesn't cover it. I myself am covered for 500,000 and 5,000 for stolen tools, but can someone explain what good the insurance does for us except to allow me to say I'm insured.

You are correct. That is what an RLI will cover for you. If you would like to have greater coverage for the crackout or paint damage or to operate a customer vehicle or to cover having a vehicle on your premises overnight or the like you can get a garage keepers policy. The same provider we chose quoted me around 13 hundred a year for a million dollar policy. We are mobile, do not opperate customer vehicles, and self insure for paint etc...We are just very carefull!! Currently we have no employees just the three of us (my wife and brother and myself) so trust is not an issue. If we were a "brick and mortar" shop or what than a different policy would be required... I hope this helps answer your question. Scott

[Sneck]

I got a quote from RLI today after reviewing these posts and past posts. For some reason I was thinking it was going to be kind of expensive, but my quote for $500,000 dollars of liability was $175 per year, and that works out to be about .49 cents a day.
It's about time I get setup.

Sneck