OT? Insurance protection again

I have been reading alot of snow removal coments and got to thinking about insurance.

I am a small one horse outfit, but my insurance coverage has the word comercial in it soooo.
If I do not have snow plowing as a additionl supliment on my policy, no insurance.

I read about farmers helping out neighbors, going into town for hire, and friends helping friends etc.

I wonder how many have actualy checked the waters by turning in a claim? I used to help everyone and seldom if ever took a red cent for doing so. Once there was a curb shut off (buffalo box) hiding under a snow pile. I bent the crap out of it, but no water leak. Insurance man said unless she paid me for doing so, it could get flakey in a hurry.

Last year while blowing with my tractor I found a telephone pedistal under a pile also. Phone company said there was alot of that last year and they did not send me a bill. Now I do alot less snow removal than in the past.

Any idea how many little wires are in them boxes? whole bunch is a good answer.

I have a understanding that probably 99% of us THINK we have good insurance, and we all sleep well at night knowing nothing can go wrong.

I guess most of us should take the time to call our insurance folks and ask them directly if we are covered. Most questions I ask my agent (real swell guy that used to work for me and call me brother in law) well he says most of the time...I THINK you are but I will call and check it out. Those agents just can't keep up with the parent company, much like we ourselves assume things with our policies.

Not trying to create a war of words here, just a kinda heads up. At one time I found out (thirty years ago) that with my comercial policy once I hooked anything that I did not own and listed on my policy, (other than a boat or snowmobile trailer) lets just say it changed things big time. After being with the company for probably ten years that once the hitch was made it ...VOIDED..my total truck insurance, liability and collision. I can still break into a sweat on a cold winter day thinking about a few times I got close to testing the waters.

Think about this: Why are insurance companies in business?

If you said they are there to indemnify their customers against loss, think again.

INSURANCE COMPANIES ARE IN BUSINESS TO MAKE A PROFIT FOR THEIR STOCKHOLDERS. No more, no less.

Now, the product they sell has the purpose of indemnifying their customers against loss; but unless they can sell that product profitably, they won't be in business long. So it's in the financial interest of the stockholders to pay as few claims as they can, but enough to keep the customers coming back. That's why it's important to make sure that your coverage specifies what is covered, as well as what's not covered. Any "gray areas" will most likely be settled in favor of the stockholders rather than the policyholders.

And that's not heartlessness; that's just sound business principles, based upon years of contract law.

Insurance fraud pendilum seems to be swinging. Used to be they paid any old claim for anything. And folks learned that & tried to live off the insurance policy.

Now it seems i you are a good person & carry insurance, one claim & you are dropped, hear on another forum I visit you shouldn't turn in any smaller claims as it only ups your payments and/or they drop you. Well, if you can't use the insurance, why is anyone paying it?

You are talking liability insurance, and that just gets goofy. Way too many sheets of paper to describe what you don't actualy have, but they keep collecting the premium whether they cover you or not....

--->Paul

Buzzman hit the nail on the head. If you have a farm policy or homeowners you are covered as long as you are not charging for the services. Once you start accepting money, you have now become a business and need a separate commercial policy.

Gene

Depends on the Phone Box. Good rule of thumb. If you out in the sticks off of a main rd. Not likely to be to much in it. Mostly just local service.

Be very very careful around main roads and county high ways. If its a main though fare for cars its most likely to be the best route for phone too.

You wack off a ped with a 25 pr in it, in the sticks. might be easier just to fix it than mess with the papper work.
You wack off a type 80 cab and knock out a whole lot of people plus the $1,0000s of dollars worth of electronics. Every ones going to know you did it.

The last day I worked before getting laid off for the winter. Our guys were chasing some errors on the fiber run along HWY 23 north of SandStone, MN
Measured them out to a lot with a brand new split rail fence across the front of the property. No locate called.
If you hit a fiber your not just responsable for the damage spot. Your responsable for the whole lenth of it from splice to splice can be a mile or more, Plus loss of data/ calls/ ect.
Can cost in the Millions for the damage with 3rd party claims.
Please please, call for a locate, Hand dig with in the required distance and or just stay away from em.

"Insurance MAN said unless SHE paid me for doing so, it could get flakey in a hurry".

Huh, was it one of those trannies?

My farm policy covers my equipment,livestock etc as long as I'm farming.Pushing the neighbors driveway ain't farming,pulling a car out the ditch ain't farming.Both are just being nice and helping someone. I know of people being sued for damages doing both.Even if I don't charge it still ain't part of my farming operation.On the towing deal any unmotorized trailer,wagon etc I hook to my vehicle is covered for liability only.Read the poilcy because they're all different

As always, talk to your insurance agent

I don't know about farm / commercial. For homeowners, an Umbrella liability policy above your normal homeowners & auto insurance should cover such situations as pulling someone out of ditch or plowing a telephone box.

It would also provide additional coverage for things already covered by homeowners & auto if you exceed those policy limits. Umbrella policies are usually pretty affordable -- low hundreds of dollars per year.

(quoted from post at 13:46:46 12/23/08) As always, talk to your insurance agent

I don't know about farm / commercial. For homeowners, an Umbrella liability policy above your normal homeowners & auto insurance should cover such situations as pulling someone out of ditch or plowing a telephone box.

It would also provide additional coverage for things already covered by homeowners & auto if you exceed those policy limits. Umbrella policies are usually pretty affordable -- low hundreds of dollars per year.

Click to expand...

Hi Matt,

From what I've been reading, a umbrella policy only extends your existing coverage limits.

If you are not covered under your normal policy, then your not covered under the umbrella policy.

T_Bone *****Merry Christmas All*****

Mr. T, I'm glad you said that because that was my understanding also. I decided to call my agent / ex brother in law and he said that I should add a small unit--called (a bunch of numbers and letters) to my home owners policy that covers lawn mowing and snow removal. $300,000.00 liability for about $30.00 a year.

He just told me that most folks assume with insurance, and if they don't check on it they assume the problems will take care of themselves. Most folks are over their heads with insurance, so rather not bother with it. He went on to explain that is why attorneys are so many in numbers. He said that the money the homeowner spends on a attorney for one law suit against a insurance company would have given them the coverage to protect them for a long long time.

He also comented, do ya think that policy hasn't been reviewed a few times in the past? And do ya honestly think that a few good ol boys just sat down one afternoon and designed the policy? Almost every word is placed to protect the insurance company if you can truley understand its total intent. Said most attorneys can't read a policy and come up with the legal meaning of its contents. It is tried daily, and insurance companies have lots of attorneys that deal with nothing but insurance. So guess who wins most of the time?

My guy said few folks ever try to understand it, and no one agent can explain the coverage, and non coverage in a hour that it takes to sell the average policy.