Mechanic's liability insurance
Mechanic's liability insurance
(OP)
I have been wrenching on farmer's older tractors for years and liability insurance hasn't been a concern. I have though recently began performing some repair work for a multinational aluminum plant on their scrap trailer tipper trucks and a Broce broom. I was called about a failed fifth wheel plate and had a new one ordered and paid for when I was called by my friend and contact asking if I had insurance. I feel if I don't acquire a policy, this will work opportunity will be pulled.
For those of you independents working for companies requiring liability insurance, what are good source companies, policy types, and amounts of coverage? I'm a small timer and this will be the only (so far) need for it so I have the added question of is the cost worth the money I can make from the customer or do I say thanks for the work and move on.
For those of you independents working for companies requiring liability insurance, what are good source companies, policy types, and amounts of coverage? I'm a small timer and this will be the only (so far) need for it so I have the added question of is the cost worth the money I can make from the customer or do I say thanks for the work and move on.
RE: Mechanic's liability insurance
RE: Mechanic's liability insurance
Always good to have insurance when you perform professional services. If there is an accident, they will blame you and want you to pay. If a person got killed or injured, that can be costly.
If you intend to have multiple such clients, you need to have coverage for whoever has the highest requirements.
RE: Mechanic's liability insurance
RE: Mechanic's liability insurance
As EP mentioned, get the minimum requirements from your perspective client in writing and provide that to the brokers to make sure you're comparing apples to apples (and not paying for more than you need).