Forums

Liability only, I am self insured.

Posted By Montana Goldust on 16 Oct 2010 06:43 PM
What kind of insurance do you carry on your adjusting vehicle?  Liability, Full Coverage, ????
What coverage do you have for your equipment such as , Computer, Gps tracker system, Printer,  Etc.

Jerry,

I was told that I needed Business use coverage for my vehicle that I drive from risk to risk, but I have since gotten great coverage without losing an arm and a leg with an "Artisan use "policy with liability and comp & collision (full coverage)

I only have 8 months left before my truck is paid off at which time I am going to drop the comp & collision

As far as your computers, gps, printers, etc., and etc. if you are working out of a motel that is covered under homeowners coverage, personal property with the business limitations invoked. I work out of a travel trailer, and most of that is covered under the contents coverage of my travel trailer policy, for whichIi upped the coverage amount.

I agree with Robbie, on my auto if I want the proper coverage for it, I have to get a different policy than the one I have for use here in town.

Why would you drop the comp coverage? It's not expensive, covers hail, flood, fire, burglary, theft, etc.

I understand dropping the collision but think about it before you drop the comp. Also, you should have at least $5K in med pay coverage. It's incredibly cheap and pays for ANY injury from riding in, alighting from, or entering into an auto. Read the policy.

I heard that last part from a adjuster I know.............................

Posted By OkcLarryD on 18 Oct 2010 07:53 PM
Why would you drop the comp coverage? It's not expensive, covers hail, flood, fire, burglary, theft, etc.

I understand dropping the collision but think about it before you drop the comp. Also, you should have at least $5K in med pay coverage. It's incredibly cheap and pays for ANY injury from riding in, alighting from, or entering into an auto. Read the policy.

I heard that last part from a adjuster I know.............................

At first glance I didn't think about the comp., just the collision, but you may have a point Larry.
I am clouded on trying to reduce a little here and alittle there to offset my son getting his license in 6 mo. and watching my vacation fund go up in smoke with some new teenager premiums.

I haven't read the HO-3 in a while but know there is a limit for BPP and a lesser limit if away from the residence. When I was going CAT work, I had a basic policy through SF which covered my BPP and also provided liability coverage in case I did something stupid like break the insured's lamp. I beleive it was around $150 or so a year.

In our profession, we drive to and stay in hail proned regions. While in Colorado, the last two yeas, I have seen more hail than many will see in the next 10 years. Also in Los Alamos NM. it hailed at least every other day for two weeks. And lets not forget Oklahoma city this year, several adjusters got their vehicles pounded while working there in May. Yep I believe I'll keep comp coverage with a low deductible, but that's just me.

JWG