Insurance Quotes & Costs
Hello,
We are now just beginning our rental business. We only have 2 inflatables at the moment, both are new, a 22ft waterslide and a 13x13 combo. We requested a Quote from Cossio based on a gross of $15K for the rentals. Our estimated annual quote came back as $3,410.07 for General Liability Only (No Inland Marine) with the minimum down payment of $1,010.07 and REQUIRED ADDITIONAL policies for an Accident Medical Policy and PAL fee which will be $750 together and will also be due up front. So an Annual Cost of $4,420.00 based on $15K gross income.
We are based in Texas. We are planning on securing additional inflatables in the spring when the season here allows but are concerned about the costs we were quoted. This would represent an almost 30% cost factor for insurance expenses. Having had Commercial General Liability coverage in the past for many years I'm aware the amounts are subject to change and most always increase depending mainly on your gross income and not necessarily your exposure.
Just seeking input on what others are having to spend or being quoted in your area for the estimated gross income being quoted.
Thank You
The same question
Hi Earl,
The cost fluctuates so much for different factors and between companies it's tough for me to say. You will hear something different from almost every owner/operator, so at the end of the day it's important that you get quotes for your company to compare actual quoted costs.
Here are a list of other companies you could get quotes from. There are more outside of these but we know these companies in the industry and trust them enough to put them in our ebook.
ARA • Zodiac • Olivier VanDyk • The Friedman Group
Sorry I couldn't give you a more direct answer, it's complex and changing all of the time.
Hi Earl,
The cost fluctuates so much for different factors and between companies it's tough for me to say. You will hear something different from almost every owner/operator, so at the end of the day it's important that you get quotes for your company to compare actual quoted costs.
Here are a list of other companies you could get quotes from. There are more outside of these but we know these companies in the industry and trust them enough to put them in our ebook.
ARA • Zodiac • Olivier VanDyk • The Friedman Group
Sorry I couldn't give you a more direct answer, it's complex and changing all of the time.
Hello Lee,
Thank You Very Much for the information. We will contact these other carriers and see what their rates look like.
Thank You
Earl Hicks
Hello Lee,
Thank You Very Much for the information. We will contact these other carriers and see what their rates look like.
Thank You
Earl Hicks
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