Another Insurance Question, how much?

What do you guys pay for a year to insure about $6000 worth of gear and liability. Preferably those of you who are in Canada, just trying to get an idea if I am being taken or not. Also what company are you with. Please this would be a great help.

We are sitting at about $200/month.

Im in the US, but I pay about $350 a year for $20k insured. IIRC it was about $1.76 per $100 insured. Something like that.

so, in 2 1/2 years, you'll pay the entire cost of your gear in insurance.... sounds a bit high, lol!

spesmeadeus wrote in post #13019060
What do you guys pay for a year to insure about $6000 worth of gear and liability. Preferably those of you who are in Canada, just trying to get an idea if I am being taken or not. Also what company are you with. Please this would be a great help.

We are sitting at about $200/month.

ewheeler20 wrote in post #13019125
so, in 2 1/2 years, you'll pay the entire cost of your gear in insurance.... sounds a bit high, lol!

Yea really, thats CRAZY high! Did you mean $200/year? And even THAT would be high.

I'm paying around $80/year for $8,000 in gear through State Farm in the U.S. as a personal articles policy. This is a hobby and not a busines, not sure if that affects the rates.

Tom

This would be with liability coverage as well. But this is just a quote. I am going to check out state farm in Canada

ewheeler20 wrote in post #13019125
so, in 2 1/2 years, you'll pay the entire cost of your gear in insurance.... sounds a bit high, lol!

How do you figure that?

2 1/2 years = 30 months. 30 months x $200 per month = $6,000.

ewheeler20 wrote in post #13021463
2 1/2 years = 30 months. 30 months x $200 per month = $6,000.

My bad, transposed his $ amount with another whose value was higher.

I sent out a quote request and 200 is about as cheap as your going to get. make sure it covers equipment damage both on and off location, and being sued.

Supposedly State Farm just changed their rating structure and anyone who has it will be getting a notice of greatly increased rates. - from an agent. Can anyone who has SF check on that and chime in. Also, at first look, they are saying $775 minimum policy quote/year. I told them (and they agreed) something was wrong with that number - I'll check back when they get back to me.

Try giving Morris MacKenzie Insurance brokers a call. As a broker they will take your requirements and search through a number of different insurance companies to find you what you are after.

Liability can drive up the price and I do find your price high. What levels of liability are you asking for. What are you using for a deductible. Do you have a history of claims which will affect pricing.

I pay $500 a year and my wife is in the insurance business. You get what you pay for.

I pay a bit over $400 for liability, equipment, and E&O. This is my first year in business.

i pay roughly $125 a month for $75,000 w/ 2 million in liability.