Insurance - what kind do you have? Allied is moving away from home-based business...

[Tom]

We are pleased with james Wolf: they understand the relationship between the business and home in the package. But we do get comparative bids each renewal time.
As for Camberly's comment, does that low price include all risks including fire? When comparing quotes, be careful to distinguish the "homeowner" cost in the package: fire, personal liability, property - from the "business" side: mainly guest liability. The main part of our cost is insurance on a large home, whether we were in business or not. Most homeowner policies can not add that extra business liability.

 

[Joey Camb]

We are pleased with james Wolf: they understand the relationship between the business and home in the package. But we do get comparative bids each renewal time.
As for Camberly's comment, does that low price include all risks including fire? When comparing quotes, be careful to distinguish the "homeowner" cost in the package: fire, personal liability, property - from the "business" side: mainly guest liability. The main part of our cost is insurance on a large home, whether we were in business or not. Most homeowner policies can not add that extra business liability..

Yup covers us for all of that I think partly we get a low rate cos we have never claimed (ie 5 years no claims) plus we get a discount for always having a "member of staff" on site at night. Also we are in a no flood area, stone building so low fire risk (an we had our electrics all tested for safety this year) also we have to have all our plugs tested every year and all our fire extinguishers, we have fire doors on all bedrooms and in the hallways, hardwired fire alarm system for smoke and heat, no smoking, no candles.
I think as well our insurance companies are more used to insuring B&B's cos there are millions of us here where as in the US they are more unsual so they tend to over react. Also on the seuing front we are rapidly catching up.
i will say however on the weather front ie hurricane front we don't get those or earth quakes either which helps.

 

[agoodman]

Dont know if anyone saw my other post but my agent just found me NEW insurance TODAY which saves me $1000/yr, (formerly 3K now 2K) if anyone wants his contact details email me, I don't think he would like that I post them publicly but I am ONE HAPPY CAMPER

 

[greyswan]

thanks goodman... hope they get a lot of referrals from your vote of confidence! We just happened to visit our agent today after going to our BBAV conference workshop about insurance. We're making a few adjustments to our policy... don't have a price just yet. We'll know in a few days.

 

[gillumhouse]

We are pleased with james Wolf: they understand the relationship between the business and home in the package. But we do get comparative bids each renewal time.
As for Camberly's comment, does that low price include all risks including fire? When comparing quotes, be careful to distinguish the "homeowner" cost in the package: fire, personal liability, property - from the "business" side: mainly guest liability. The main part of our cost is insurance on a large home, whether we were in business or not. Most homeowner policies can not add that extra business liability..

My insurance covers my house for what it would cost to build a decent house. Full replacement reality is they will offer X dollars if you rebuild on this site - take it or leave it. If you say no, it will be tied up forever. I am covered as a business - I have basic CYA covereage because next stop for me is either the nursing home or roast & toast. I have no worries about losing everything in a law suit mainly because I know my future as previously stated. Young people need to protect their future. I also have a rider covering anyone I take over to the log house to protect the Historical Assoc. from being the responsible party.