witch one is the cheapest insurance company for business?

Question

General liability for contractors

Answer 1

There's no one size fits all cheapest. Depends on the type of contractor, and if you have any subs or not, and if so, what kind of subs, and what kind of work you do.

It's not cheap, in any case. You're going to have to talk to a couple local, independent agents for quotes.

Answer 2

Your lack of understanding is shocking. If employers do not pay all or part of health insurance premiums, some people may not buy insurance. If we go from 40 million uninsured to 100 million uninsured, that would be a bad thing. Insurance companies are not wasteful. If you knew something about loss ratios, you would know that it is theoretically possible for an insurance company to pay out more in benefits than it takes in, in premiums, and still show a profit. The federal government always operates at a loss. A few days ago, ABC news reported that Medicare/Medicaid annual losses due to fraud are as much as $60 billion. Maybe 20 per cent of the population is on Medicare/Medicaid. Projecting those fraud losses over the entire population gives an estimated $300 billion in fraud losses. Not a good idea.

Answer 3

Liability insurance is quite a complex product of insurance. It involves understanding of the law of governing liabilities.

Liability losses generally have a low frequency but a high severity. Also there is a substantial time gap between the occurrence of an event and a claim.

There are in general 2 types of liability policy basis claimsmade and claims occurred. Which one is better for you? Try to contact your professional insurance broker and compares with others.

For me, a cheap policy is rarely a quality policy and a quality policy is rarely cheap.

Good luck

Answer 4

I think you mean Which is the least expensive and that will vary by location etc. Some companies like electrical and hate sheet metal etc etc. Call an independent agent that writes a lot of contractors...the yellow pages or an associate will start you in the right direction.

Answer 5

Try Arthur J. Gallagher & Co. They are brokers that specialize in liability insurance. http://ajg.com/