Quantcast
Jump to content


    • You can post now and register later. Already registered? sign in now to post with your account.
    • ×   Pasted as rich text.   Paste as plain text instead

        Only 75 emoji are allowed.

      ×   Your link has been automatically embedded.   Display as a link instead

      ×   Your previous content has been restored.   Clear editor

      ×   You cannot paste images directly. Upload or insert images from URL.


      Once you submit your question, a new topic will be created for you in our forums. Our moderators may move your topic to a more suitable forum category if one exists. Members will see your topic and be able to respond to your question.

    • This will not be shown to other users.
Bradley

Garage Liability Coverage

Recommended Posts

I received a friendly email from our current Insurance provider that says our rate is nearly doubling. Expiring premium $5,443.87

Renewal premium $8,747.81

 

The reason, the agent told me, is that the property value has increased. This policy does include Garage liability and coverage for the building(5k sqft metal building) that we operate in. (Triple Net Lease). I know there are many variables, and frankly I dont understand all the terminology with insurance, but does this premium seem in check? I just received a quote from Nationwide (they were not on my side) for 11k. Can anyone suggest a company for me get a quote from?

Expiring premium $5,443.87

Renewal premium $8,747.81

Share this post


Link to post
Share on other sites


Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Similar Topics

    • By Mail Shark
      Before approving your next database mailing, run down this checklist to ensure all of these steps have been taken to validate the quality and accuracy of your mailing.
      Utilize the National Change of Address Service (NCOA)
      Every year, millions of Americans move, and this undoubtedly includes some of the customers in your database. This can be a problem when you pull your database to use for sending out a direct mail campaign, as you may have customers that have moved and no longer live at the recorded address.
      If these customers have moved outside of your trade area, and you were to send a direct mail piece to them, you would essentially be wasting your marketing dollars by sending direct mail to customers that are simply no longer there.
      The good news is, there is a simple solution. You can have your direct mail partner run your database against the USPS National Change of Address (NCOA) service. The cost of doing so is very minimal and worth the small additional cost to ensure the quality and accuracy of your database. 
      NCOA is a database maintained by the U.S. Postal Service, and includes all of the individuals and companies who have completed a form to change their address in the previous four years. 
      Here are a few things you will find out by running your list through the NCOA process is: 
      Addressee has moved, and a new address could not be provided. New address information is provided. The recipient moved without providing a forwarding address to the USPS. From here, these previous customers that have moved can easily be removed from future mailings. 
      Remove Your Customers From New Acquisition Mailings
      Most shop owners who are using direct mail to target their database of current customers are also sending out new customer acquisition mailers to target new prospects, either by carrier route or by specific make, model, fuel type, etc. 
      In doing so, it’s important that you request your direct mail partner to remove these current customers from your new customer acquisition mailers. It’s a waste of money to send your customers a new customer acquisition mailer when you are already targeting them by sending them a retention or lapsed customer mailer. It will also send your current/lapsed customers the wrong message. Your marketing and message to new customers should not be the same that it is to current or lapsed customers. 
      This is also an easy fix, simply request that your direct mail partner suppress your customer database from your new customer acquisition mailers. The only caveat in doing so, is for general auto shops that are removing their database of customers from their carrier route mailing⁠—there are guidelines that must be met for carrier route mailings in order to receive the maximum discounted postage rate. These guidelines are as follows:
      Your mail must be sorted in walk sequence. This is the exact order that the postal carrier walks/drives on their carrier routes. In addition, your mailing must follow the 90/75 rule. The 90/75 rule stipulates that you must mail to at least 90 percent of the total residential addresses, or at least 75 percent of the total combined number of residential and business addresses in each carrier route. Since you, as an auto shop owner will never want to mail to businesses, this means that you must mail to 90 percent of the total addresses in a carrier route to maintain the lowest postage rate. 
      If your mailer falls below the 90 percent guideline, there are three different levels of postage that your mailer can potentially fall into. Each level represents an additional cost of per piece postage above and beyond the standard rates.  
      Additional Saturation Mail Postage Rates (*As of 1/1/2019)
      High density plus: Mail at least 300 pieces in walk sequence order (additional postage would be .01 per piece).
      High density: Mail at least 125 pieces in walk sequence order (additional postage would be.019 per piece).
      Basic: Mail at least 10 pieces in walk sequence order (additional postage would be .104 per piece). 
       
      Make Use of the Coding Accuracy Support System (CASS)
      In addition to running your database through the NCOA process, it’s important to ensure your direct mail partner is also certifying your database mailing list through the Coding Accuracy Support System (CASS). This process will standardize your mailing file, verify that each and every address in your mailing file is valid and complete, as well as update any addresses that have been changed and/or has become outdated.
       
      Josh Davis
      Mail Shark
      Executive Vice President of Sales
      Direct: 484-948-1611
      Email: [email protected]
      www.themailshark.com/AutoDirectMail
    • By HarrytheCarGeek
      Labor rate from $115 to $150 car count down 1/3 revenue up 6%.
       
      Going on the third month that we raised our rates. Our best customers have stayed, trouble nickle and dime customers seem to have disappeared. ARO from 380 to 628.
    • By MINI4U
      This is the email I got and it sounds tempting...
       
      Could your shop be eligible for a bigger refund?
      Of the 5 free tax reviews we have done in the last couple months, we have found errors that resulted in tax savings of over $85,000. Let me know if you’d like to send your taxes in for a free review. We will select one shop to review anonymously on a live webinar that will also give some insight on how and what to look for on your own taxes.
       
      Think that you have been paying too much in taxes? It doesn’t hurt to have another set of eyes and it could mean some $$$ back in your pocket!
       
      To get started, just reply back to this email, "Tax Review" and we will reach out to get the information needed to begin.
       
      --
      Hunt Demarest, CPA
      PAAR MELIS & ASSOCIATES
      Accountants Specializing in Automotive Repair Shops
       
      We help Shop Owners do 3 things:
      ·  Show where your money is going & why it’s not in the bank
      ·  Keep more money in your bank, not “Uncle Sam’s”
      ·  How to read your financials and see how you compare with other shops
       
      In the past 24 years we have:
      ·  Worked with over 1,400 shops nationwide
      ·  Taught at repair shop coaching business for 21 years
      ·  Spoken in front of over 12,000 shop owners 
      Website  Facebook
      602 Center St, Mt Airy, MD 21771 
      P: 301-829-4646     
    • By Alex
      We now have a nice tool available to all premium and platinum members under the tools menu, where you can view labor rates entered by our members on an easy to use map, similar to our member map. This is designed to give you an idea of where you are vs the market in your area. As you zoom in, the circle averages open up to more specific areas.

       
      If you aren't currently a subscribed premium or platinum member, you can upgrade here.
    • By CAautogroup
      Hi all,
      I was wondering where do you typically display your shop warranty policies? Sign posted in office, at the bottom of the invoice, bottom of signed work order, on your website?
       
      What do you recommend?
       
      Thanks,
       
      Nick 


  • AutoShopOwner Sponsors



×
×
  • Create New...