Insurance questions

familytree

familytree

Location
Haddonfield, nj
Hey gang. The time has finally come where I am looking to purchase a million dollar liability insurance policy for myself. I find that I am doing a lot of "side work" and it's getting to the point where it's become more than just a couple of extra bucks in my pocket and I feel that it's time to take it more seriously.

I usually work Monday-Thursday with my boss and his company but on Friday-Sunday I tackle my own jobs. I only have one employee for the time being and I am wondering what you guys are paying for the liability insurance. I've already registered my company with the state but I have yet to delcair the biz to the federal government nor do I have a tax I'd yet.

Do I need to register with the federal government first before applying for insurance? How much are you currently paying?

One more thing, I am also looking into getting my own health insurance (my insurance now is terrible) and I was wondering if you guys had any suggetions or positive feedback with your current health care provider and what you are currently paying.

I know this is a lot of questions at once, any feedback is appreciated. Feel free to pm me or email me if you don't want to show your numbers publicly. Paul b. If your reading this I'll warn you now that your going to get a phone call about all of this sometime this week, if you are smart you shouldn't answer unless you find yourself with a couple of hours to spare
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I think we had to get a assume name cert here from the county.Also had to get a federal tax id # and state tax id for sales tax.As far as insurance you really dont need any of that,my agency never asked for any buisness info-just our name and location and how many employees.It should be relatively cheap for you and 1 employee maybe 2 to 4 thousand dollar range.
 
All I had to do was call an agent, tell'em what I wanted and go sign the papers and giv'em a check. That's in NC.

The only problem I had was finding an agent that wrote arborist insurance policies, There are only a couple around here.
 
Call Hal Rose Agency in Elizabeth NJ. He'll answer all your questions. Good rate, and can get a payment plan.

I found him in the Arborist newsletter.
 
Hey rob I was wondering when you were going to pipe up. I'll google the guy unless you've got a number for me?

It seems getting personal liability insurance is the way to go, if I get commercial insurance I'll be payin out the nose. I don't own any "trucks" or chipper, just a ton of saws, gear and that's it.

I likey payment plans
 
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Do you guys have to charge state sales tax?

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Yes. But it can be paid right through your SS#, When you provide a service in NJ you charge a labor tax not a sales tax. Pretty much a Tax ID helps you get a break in price when buying stuff like trees to plant. It will be needed later when he makes more money, becomes INC, or CC.
 
Tread Carefully!

First, if you are a sole proprietor you can file your Schedule C under your own SSN.

However, if you have employees you MUST get an Employer ID number from the IRS. With this you will have to file FICA, OASDI and Federal Witholding Returns and Deposits. On top of that you will also have to file DOL FUTA returns.

Then your state has thier own Tax issues regarding employees.

Starting out it may be beneficial, though a bit expensive, to go through a payroll service with a good provider. Intuit (quicken) may well be the best option for you, especially if you have a membership at COSTCO.

Your State also has Workers Comp rules you will need to abide by.

As for insurance you can try FarmFamily.com If you have ever had commercial insurance they should be able to help you. If this is your first CGL liability policy then they might not be able to write you a policy.

Hope this helps!
 
Those were good alerts and advice from Vt.

Also there's a gigantic difference between having "lawn service" liability and TREE WORK insurance. My policy points out specifically that a chain saw, more than four foot off the ground means I'm a tree service and my premiums run accordingly. I have to have 2 million aggregate coverage minimally.

Although this year, I'm seriously thinking about nixing all policies to get in step with the other five or six "tree removal" businesses here.
 
Thanks for all of your advice. I have no groundie as of yet, at least nothing "offical". I am trying to get my own liability insurance so that I can be a sub contractor for my current boss. I already provide ALL of my own gear, including saws, rigging gear and ropes and I'm now looking to get my own insurance policy, his is sub par to say the least. At this point, I'm providing myself with everything but the work, which I am extremly grateful for, but with everything else I offer to the company (did I mention we use my truck often as well?) it doesn't make sense to make the money I'm making now and having to provide myself with all of the gear and my own health insurance. I also do a lot of side work so if I have the liability insurance it will help me financially with my current employer and my future endevors. I am currently investigateing spray rigs and obtaining my pest. Cert. Along with other areas of tree work not currently practiced by the company (ie fertilization, root pruneing/air spadeing, stump removal etc.)

Small steps first. I'm only looking to get liability insurance for myself as a climber and I need to match his amount which is a million dollar policy. I only own my gear and my truck and saws. I'm only looking to insure myself til I get things off the ground a bit then I'll reevaluate my options after my first fiscal year and see what else I can afford.
 
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One wonders if your boss knows just how bad, you bad mouth him all the time?

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you know what ed, i have decided to go another route and end this game, your blocked, have fun and be safe
 
Hey Marc! if you want another name just for kicks try Farm Family in. there office is in Elmer, ask for Kevin Booth.
If you need the number call Regan in my office 241-0489
 
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apply for my job

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1,2,3,4,6,8,10 yawn ok then.

lol where you ever get the idea I want your job. Think, silly man I've had your job before why would I go back. And I made more money at it than you. Besides rumor has it you need to watch out for Russ.

You might have these guys at this site BS'ed but don't forget I work in your hood and see the type of work you do and how fast you do it.

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Just point out one area I bad mouthed him

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Do I really have to go back through past post to find where you call him cheap, stupid, and ignorant.

heres just a quick one that I recall.
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Boss said its one of the hazards of doing tree work. He doesnt realize the hazards of being an ignorant [bad word] towards his crew. He'll find out soon enough. He even went as far as pointing to a small Bloch on his skin and said he might have it too, this was a joke of course, because he hasnt worked on the field in 8 months. I guess we were supposed to laugh

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I don't want a pissing match so lets not trun this to one. I gave you some sound advice on how to start out. Good luck with your venture.
 
If your state allows for soul propritor to workers comp I would strongly suggest it.Evryonewho starts out worries about damage to property. The reality that I have found out in my 12 + years is that you will more than likely fix the occasional picket fence or maybe a gutter yourself but when you get hurt the medical bills are something that you will have no controll over. If you look in the awakinings I wrote the ripped off thread.It was a the or four hour job and very basic. Because I'm the owner I get to see the bills before the insurance,my med flight was 1,120.00 Per min. My sergery was over 167,000.00,My hospital stay for 9 days 5 in intensive care was 84,000.00. labs and exrays were 35,000.00>I also lost work and when your a small bussiness 60% of your weekly gross from workares comp. will make the differance of lossing everything you own.
Then if thats not enough, i decide to send my 2 ground guys to do some what I think to be an easy job.To my surprise I get a phone call from one of them that one of theem is going to the hospital with possably a broken arm
(turns out not to broken but was out of work for 4 weeks.His bills are comming in now and we are already up to 14,000.00
In my perspective if I had to pay them bills because I did not have workers comp I could buy a house for my customer ,Iknow customers dont want you on there property without liability but dont cut your nose of dispite your face and not protect the one who makes the money,I think that is just foolish in the long run (if you make it too the long run)
 
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Hey rob I was wondering when you were going to pipe up. I'll google the guy unless you've got a number for me?

It seems getting personal liability insurance is the way to go, if I get commercial insurance I'll be payin out the nose. I don't own any "trucks" or chipper, just a ton of saws, gear and that's it.

I likey payment plans

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Hey FT-

You say you don't own any "trucks". If you are operating a business with your own vehicle, you most likely need commercial coverage. If you get in a wreck and it is apparent to anyone that you are working, you may not have coverage under "personal" policies. That is for commuting to a job, but I suspect not running a business/ commuting to the job.



I think my commercial auto for an F600 chip truck, 1/2 ton pick-up, and liability insurance for about 50-75K in revenue with tree and landscape is around $2500 annually.
 
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