Insurance

[Fred Claus]

Another group got me thinking. Who is your carrier for insurance, what do you have, and what are your premiums?

I've used my agent for 10 years now, I'm a one man shop and I've never had a claim. I'm thinking my rates are getting hi. My Professional liability is about 690 a year. I do cyber security consulting and managed security services.

Is that high or is it just me?

 

[britechguy]

I do cyber security consulting and managed security services.

Between this being your area of specialty, and your location being in NY State, my gut is telling me "it's just you." I'd have to imagine that rates are at least partly based on your area of practice (professionally) and the area in which you practice (much like auto insurance rates vary depending on where your car is used/garaged most typically).

 

[Diggs]

The last premium I had here in Wisconsin was $408 for a year.

 

[Canadian Tech]

I wished we had those premiums here in Canada. I pay $120 a month for my insurance, mind you I have a retail location. I have a very small shop with about 800 sq feet with 3 large front windows.

 

[Fred Claus]

Thanks guys. I guess it is a location thing.

 

[Markverhyden]

All insurance premiums are impacted by location. Personally I only have General Liability for 1million/2million. Around $600/year. I was paying almost $1k a few years ago when I lived in MA. Haven't purchased E&O, aka Professional Liability, Last quote I got for that was around $2.5k 18 years ago up in MA.

 

[Diggs]

I guess it is a location thing.

This topic has popped up a few times over the years. A search on those threads will give you more info.