Cost of Ins.

[RBHII]

Quick question looking for feedback....looking at a mat for sale....owner is listing $4k as insurance expense.....seems high to me....2,000 sq ft attended mat.....65 machines total.....I'm thinking some money can be shaved off of that cost with proper shopping.....does that make sense? What are the drivers behind cost of insurance (aside from large swings between carriers). Also, how big is the change in insurance when going from attended to unattended? thanks!

[ajay]

I think you need to understand the factors that lead to a monthly premium( i.e unattended mats are more expensive to insure than attendant/owner run). Then you decide how you want to handle premium. Also, deductibles500 or 1000) also make up the payment. The higher the deductible, lower the payment. I would call an insurance company to ask exactly what factors would makeup the payment. They can run various options for you.


ajay

[cleanrite]

$4,000 is a good number in so cal. Liability is one thing... workmans comp is a completley different story. You pay a predetermined rate based on type of business in accordance with wages. This can bring your total insurance cost's to a muvh larger number.

[pete f]

start making phone calls. CLA may be able to provide ins cheaper, then again, local brokers may.