Insurance audit form?

[mjwalsh]

I recently received a 4 page insurance audit form to fill out to verify last years receipts. It basically wanted to have the soap & other vending items including our pay phone that we own itemized in terms of gross receipts & commissions. The insurance auditor said that we need that to make sure we are covered on everything. We don't own our pop machine & pay a premium for the product delivered & fill it ourselves so I am kind of squirming. If we were paid commission on anything the auditor said we are required to include all income from the property on the report & then they decide what rate is applied or included. Is this pretty much the norm across the country?

[laschmove]

Unless you are getting an out of this world rate from these douche-nozzles, I'd tell them to not let the door hit 'em where the Lord split 'em.
I just shopped our quote with 10+ agencies and never had anything like that.

For reference we do $120k per year and pay $2200 per year for a $1 million umbrella. No previous claims. If they ever send me antything like an audit, I'll go no-insurance-commando before I'll give them that kind of info. Especially since I know they base our rate off annual revenue ;)...

We've got United Fire & Casualty through a local agent.

What's everyone else paying and through whom?

[pete f]

I do not recall every having to fill out anything. Usually it is a call with the agent and give him a gross sales figure.

[kbc747]

I would tell him to fill it out himself, what are we paying for anyway, these yahoos pay any little old BS claim and then make us dance through hopes so they get more money. I recently had a claim that took 6 months for payment, this was after they agreed they had to pay etc etc. They got right ticked off with me when I wouldn't sign off on the claim for, you guessed it 6 months.

[dzender]

That's the problem ... "little BS claims"...

$200k contents, $1M liability, $1k deductible thru CLA = $990/year.

[fishmanz]

That's the problem ... "little BS claims"...

$200k contents, $1M liability, $1k deductible thru CLA = $990/year.


$990.???? They quoted me $3,200 What the what what...........

[goingtoarizona]

120k contents,1m liability, 1500 sf, 48 machines, 1078 yearly CLA

[Anonymous]

My quote from the CLA was three times that much . I went with Safeco and am really happy. We you have more than 1 mat the price really goes down.

[anonymous]

My quote from the CLA was three times that much . I went with Safeco and am really happy. We you have more than 1 mat the price really goes down.

I went with CLA AND my insurance is with Safeco!

[dzender]

Yup ... my CLA is with Safeco.

[Laundry_king]

You may want to check this out- Good - bad- ugly-;)

http://www.badfaithinsurance.org/

http://www.badfaithinsurance.org/indexdetaillist.html

[fishmanz]

Safco seems to be ranked #15 on the " Bad Faith" list of insurers. I eventually went with Peerless Insurance Co. $2,982 per year. That is for building, contents, liability. 990 must be for a leased space.

Thanks Laundry King.

[Kitty]

That's the problem ... "little BS claims"...

$200k contents, $1M liability, $1k deductible thru CLA = $990/year.


For a business policy this sounds just too good to be true, as my home owners policy is 2500 sqft. 250K /175K contents and 500K liability 500 deductible 678 yr.


I'd think a business rate would be several thousands higher than a home owners policy and not several hundred.

Not quite sure on your equipment but the cost to replace to 220K in contents should be sure to cover freight tax and installation in the event of a catastrophe in the amount of insurance?