Kymber Posted August 24, 2006 Share Posted August 24, 2006 Ok.....I had my hubby call our Homeowners Insurance Company yesterday and talk to our agent about adding liability insurance for my bath, body and candles. The quote included Product Liability and General Liability. They seemed to know exactly what we were talking about and he explained that I was making this in my home.....and also needed to be covered if my candle ever burned anyones house down or my bath & body products caused a rash and so on......he was very detailed in his explanation. The agent added $500,000 liability to our homeowners for both product and general (which I think should be higher) for $30 a year. Now this seems totally impossible to me....only $30 a year. CAn't wait to get the policy in my hands and read what I actually have. And also find out what it is going to cost to up that to $1,000,000.00. I have heard horror stories on the cost of liability ins and also that most companies won't insure you....and it is only going to cost me $30 a year? Quote Link to comment Share on other sites More sharing options...
pamperme Posted August 24, 2006 Share Posted August 24, 2006 ummm...that does not sound right to me..my biz insurance is $583 a year...you might want to make sure he covered everything. ..and I would up it to $1,000,000 Quote Link to comment Share on other sites More sharing options...
Kymber Posted August 24, 2006 Author Share Posted August 24, 2006 Well that is what I am thinking also....but it was explained to our agent in great detail that we needed product liability and general liability and he called us back with this quote. And the agent is who said we needed the $500,000. After I get the policy and can read through it I will call him and see about up'ing that to 1,000,000. But right now we are covered and it is $30 a year added onto our homeowners policy. Quote Link to comment Share on other sites More sharing options...
gloworm Posted August 24, 2006 Share Posted August 24, 2006 Sounds great if it's for real. You are lucky to have a homeowners that will cover this. Neither my sons nor our insurance companies would even add it to ours. We had to find a totally different company.Glo Quote Link to comment Share on other sites More sharing options...
Godiva Posted August 26, 2006 Share Posted August 26, 2006 and apparently Auto Owners will write product liab insurance to your homeowners only - my homeowners and auto is with state farm, not wanting to change yet. What commercial companies are you using for your product liability ins? Quote Link to comment Share on other sites More sharing options...
michelleB Posted August 26, 2006 Share Posted August 26, 2006 Hmmm....makes me wonder if maybe I passed on a good deal or not with my own HomeOwner's insurance. Last fall, they'd quoted me $500,000 worth of coverage for an additional $48 per year, and I immediately thought "Nah, they don't understand what I'm needing" because the figure was so low, so I went elsewhere. Now I'm thinking I'll give em a call back and go over the papers a little more closely. Could be that their coverage IS enough. Wouldn't that be great?!Then again...(and here's where I'll be looking at the details closely) they COULD be thinking I meant only to increase insurance on my HOUSE by 500,000. I dunno, but I can't help but be skeptical when I see such low numbers like that. I'll call em Monday and rehash it to see what I can find out. Thanks for bringing up this thread! Quote Link to comment Share on other sites More sharing options...
ChrisR Posted August 27, 2006 Share Posted August 27, 2006 I've been paying right around $158 per year for 1 million dollar product & regular liability for 7 years now. It started out around $130 a year,but went up when my sales increased. So that price could actually be the real deal!! Quote Link to comment Share on other sites More sharing options...
BIGCAT Posted August 27, 2006 Share Posted August 27, 2006 Can everyone PLEASE post where they get these great rates? Quote Link to comment Share on other sites More sharing options...
Kymber Posted August 27, 2006 Author Share Posted August 27, 2006 Mine is through Farmers Insurance.......who we have had all of our insurance through for years. I even told my hubby---NO call Bill back because he must be confused on what it is I want. And he said no he understands what you are doing and what Ins you want. And he (the agent) advised us to carry the $500,000 Product Liability and $500,000 General Liability. Quote Link to comment Share on other sites More sharing options...
gloworm Posted August 27, 2006 Share Posted August 27, 2006 Yes really please post what ins companies you are all talking about. Benchmark was the only one we found and the rates weren't that good. State Farm will not cover this type of thing-that's where our auto & home owners are. Chris R particularly interested in your company-where are you located and do you do candles & soap??Glo(Wondering if you are the Chris R I know from elsewhere) LOL:wink2: Quote Link to comment Share on other sites More sharing options...
ChrisR Posted August 27, 2006 Share Posted August 27, 2006 Don't know Glo, I have a memory like a sieve, but I've helped a lot of people ......I'm in Warsaw, NY and the company is Erie & Niagara. I think it's strictly NY state,but don't know for sure, try a google search and see what comes up.Just figured it out Glo....you're Connie aren't you??? Yep we know each other LOL!!! I told you I have a memory like a sieve LOL!! Quote Link to comment Share on other sites More sharing options...
lsbennis Posted August 27, 2006 Share Posted August 27, 2006 wow...I'm going to need insurance soon also...those rates sound amazing...I live in S.Florida and I'm lucky to even have insurance on my home and that is already over $2500 for the year...I would hate to see what would happen if I need additional insurance.... Quote Link to comment Share on other sites More sharing options...
DENISE72598 Posted August 27, 2006 Share Posted August 27, 2006 My annual premium is $500 for 1 million coverage. My policy is written as a BOP (Business Owners Policy). Covers liability if some screwball burns their house down because they went to sleep with a candle lit and also covers any product stolen from my booth at a show. Also covers if someone "hurts" themselves in my booth during a show. Quote Link to comment Share on other sites More sharing options...
Ollivander Posted August 28, 2006 Share Posted August 28, 2006 Don't know Glo, I have a memory like a sieve, but I've helped a lot of people ......I'm in Warsaw, NY and the company is Erie & Niagara. I think it's strictly NY state,but don't know for sure, try a google search and see what comes up.Just figured it out Glo....you're Connie aren't you??? Yep we know each other LOL!!! I told you I have a memory like a sieve LOL!! I just inquired about product liablility from them today (I am from NY also), and they gave me a "pre-quote" of $250 for $1 Million Product and $5,000 content. I will get the full quote either the end of the day or tomorrow.So just want to say thanks Chris for the help! Quote Link to comment Share on other sites More sharing options...
ChrisR Posted August 29, 2006 Share Posted August 29, 2006 I just inquired about product liablility from them today (I am from NY also), and they gave me a "pre-quote" of $250 for $1 Million Product and $5,000 content. I will get the full quote either the end of the day or tomorrow. So just want to say thanks Chris for the help!Hey that's great........glad I could help!! Quote Link to comment Share on other sites More sharing options...
mizbizzyb Posted August 29, 2006 Share Posted August 29, 2006 I have my homeowners and auto insurance thru State Farm in Nebraska...I added my business insurance to $13/month extra. $1mill coverage Quote Link to comment Share on other sites More sharing options...
Georgia Posted August 29, 2006 Share Posted August 29, 2006 I have my homeowners and auto insurance thru State Farm in Nebraska...I added my business insurance to $13/month extra. $1mill coverageThat's interesting. I have my car and home through State Farm and they wouldn't insure me. They told me I use heat to make candes and it is too much of a liability. I told them I use more heat to cook and they've insured my home for years! Mine is $580 a year, but only 500,000. Quote Link to comment Share on other sites More sharing options...
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