Commercial insurance

Mista T

Well-Known Member
Author
For shyts and giggles I called my insurance company (USAA) and had them quote me commercial insurance rates, in case I wanted to start my own little business and poach customers from the twin thieves.

I have a clean driving record and no accidents for well over 3 yrs (DMV goes back 3 yrs). No CDL, no medical transport stuff, nothing special. The cheapest quote was with Progressive. The best deductible offered was $1,000.

Price? $6,000+ per year.

That's right, commercial driving insurance would run upwards of $500 per month!

So there ya have it. More info for us all.
 

MedicMan

Active Member
I was required to have E & O insurance when I was teaching. That is Errors & Omissions. For a normal instructor at the school level that insurance costs about $350 per year. Because I was teaching emergency medicine my E & O insurance was 10 times that at $3500 per year and I had to pay for a years coverage to get it. When I contracted with agencies I required them to include me in their E & O insurance coverage.

It's all about risk and the possibility of losing money for the insurance companies.

I have 1M umbrella insurance to cover anything that I do for all my properties and vehicles. It's about $500 per year.
 

dauction

Well-Known Member
For shyts and giggles I called my insurance company (USAA) and had them quote me commercial insurance rates, in case I wanted to start my own little business and poach customers from the twin thieves.

I have a clean driving record and no accidents for well over 3 yrs (DMV goes back 3 yrs). No CDL, no medical transport stuff, nothing special. The cheapest quote was with Progressive. The best deductible offered was $1,000.

Price? $6,000+ per year.

That's right, commercial driving insurance would run upwards of $500 per month!

So there ya have it. More info for us all.

T

I am all set , business name, Drivers/Passenger APP.. but same thing … I would gladly take the $500 a month Commercial Insurance here in Mn ..best price so far is 12K year . Progressive wont do Livery here in MN

There has to be a solution..just haven't found it yet
 
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