Commercial Vehicle Insurance

RMedbery

RMedbery

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Going to bid a place that requires 10 million dollars commercial vehicle insurance. Anyone ever get that much? If so about how much does it run? And is it possible to get a policy that is only in affect when your doing that certain job? Im going to call my insurance peeps tomorrow to find out for sure but thought Id see what every one else says. I know 10 mil seems excessive but Im surprised it isnt more. If you smash into something of which there is a lot of around this place I dont think 10 mil would be enough.
 
I talked to a couple people about prices for 1mil on vehicles and they told me around $1500 per year but my people told me more like $3500 so I am still looking around.

Depending on the company, you can get a temporary policy or rider for a one time job but I do not know about when you do a certain job like quarterly, I would think that they will try to get you for the whole year policy.
 
Christopher said:
I talked to a couple people about prices for 1mil on vehicles and they told me around $1500 per year but my people told me more like $3500 so I am still looking around.

Depending on the company, you can get a temporary policy or rider for a one time job but I do not know about when you do a certain job like quarterly, I would think that they will try to get you for the whole year policy.
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Mine is with Joe Walters and 1 mil is about 1000-1200 I think
 
If that is what you are paying, that is a good price.

I will give them a call this week and see what they can do.

Thanks Gene.
 
You should be able to get an extra rider for a reasonable cost especially if you designate it for that one particular job.

We will be going over some of this at the Round table in Milwaukee on June 18,19 but if you want give the expert a call and see what he says. His name is Scott Cichacki 414-271-3575. If he can't help he can steer you in the right direction.
 
You can do a one job policy with them written as the loss payee for liability insurance but for vehicle insurance I have never seen that. Let us know if that is a possibility.
 
That sounds like a good job, as long as it pays well!
 
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