product insurance quote

[tuckermtn]

Looking for what others are paying for product liability and sugarhouse insurance...I got a quote for $1mil of prod. libility coverage and sugarhouse coverage of $7K ...coverage was for an estimated 50 gals of retail sales.

quote was for $650 for a year...

what are other folks paying for premiums? any insurance carrier better than the other?

thanks

-tuckermtn

[Sugarmaker]

tucker...,
We have Erie Insurance and the cost seems to be about the same. I think I have about 25K on the building? I would have to check. For sure not all companies want to cover sugarhouses. I feel a little better with some basic coverage. Especially with several events each year open to the public.
Chris

[maplehound]

I added a farming suplement to my home owners Insurance. ( rent all trees and only own an acre myself) It only cost me about $50 a year more and covers all farming related activites on and off my Land for myself and others that may be invoved. It also give me a very limited liability coverage. I was told that on the liability end it would be droped if I have a claim against it. I have this coverage with Erie Insurance. I was also told that they probably wouldn't right this policy again or atleast not in the same way it was for me. Not real sure why.
It would be nice if our state or National organizations would help with this issue. They like to tell us we need it but don't seem to offer much in the line of help finding affordable coverage.

[Jim Brown]

WE have 25k coverage on the equipt.(evap-gen-pumps-etc) we also have vandalism on the tubing and tanks in the woods just in case some one wants to attempt to put us out of business.We also have 1 million in product libility and we pay $1100 per year with nationwide'.
Jim

[Parker]

It all depends,,,Tubing or lead buckets,,,,????

[tuckermtn]

Parker's point is a good one...I find it interesting that the insurance agent could have cared less if I had 500 ppb of lead or 0 ppb. Nothing about filtering, state approvals, etc...Didn't bother to come look at sugarhouse to look at constuction quality, fireproofing, etc...

Insurance is all hokus pokus to me...never see insurance companys going bankrupt or laying people off. Guess the $10K+ I pay in insurance a year is going somewhere...

oh ya, 1/2 tubing, 1/2 buckets w/ poly liners. testing for lead along the way...

[royalmaple]

Insurance... I guess that in most cases it is something we all either have to carry or kinda want to carry. But isn't it funny when you have a claim your rates usually go up. Not always but they can, and funny how sometimes you may even be dropped for a claim or claims.

Insurance companies are in it to make money not make the world feel nice and snuggly. So when you are flip flopped in what you have paid to what they have paid you, they don't like you. If you are billy-pay-your-bills-ontime and never have a claim, you are customer #1. But put in several claims and see what happens. Even if they are 100% legit.

Problem is we have too many s&^t Bags out there putting in claims so they can work the system, stay home play Nintendo and smoke all three meals of the day. So when you have an honest claim you are automatically looked at with discrepency.

I have almost 12 friends that all work for Progressive and I hear the stories. But usually I am the devils advocate just to ruffle their feathers. But most of the claims they have to deny are indeed bogus. But they look at them all that way at first.

You always think your insurance will come through, but what happens when you need it and they aren't there. Kinda hard to Monday quarterback the whole problem when it has already happened. And you are S.O.L.

I had a private insurance company for my shipping packages, I think I had to pay something like 15 cents per 100 in coverage per package. And at the end of the month I sent in the payment for those packages. If the post office damaged the items in transit I put in a claim so the customer got replacements. After a year with this company, they called me and told me they were dropping me. I asked them why and they told me I was flip/flopped. Huh? She said they paid me more in claims than I paid them in premiums and they had the right to cancel me. Not that I didn't pay my bills, JUST because they paid me more than I paid them. I don't damage the boxes or set the rates per 100 but when their numbers don't work sorry charlie....

[cncaboose]

I had homeowners, home business, and 4 cars with State Farm for 25+ years, but when I went in to get insurance for my new sugarhouse and sugaring operation last fall they wouldn't even talk to me. I found farm coverage with FArm Family which gave an umbrella liability coverage of $500000 with specific coverage for the sugarhouse and contents of $30K , and Kubota at $16K. Total premium for this is about $400 per year. Needless to say, State Farm lost the rest of my business too along with the $4000+ per year in promptly paid premiums.

[Fred Henderson]

Ins companies are like gambling casinos, they are gambling that you will not make a claim.

[Dave Y]

Insurance is the worst investment you can make. You a betting against your self. You are betting you will need it and they are betting you won't.

[Fred Henderson]

With lawsuits in this country being what they are. I would not dare be without liability.