Garage Liability Coverage

[Bradley]

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

[HarrytheCarGeek]

What are the limits?

[mmotley]

My insurance runs about $9,500 a year with 3 loaner cars included. Your's seems a little high, but when I was going through insurance shopping, I found it can vary a lot between states

[xrac]

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[HarrytheCarGeek]

Check your declaration page and see how they are pricing the limits, I had this happen to me in the past and it wasn't a renewal but new coverage they were churning my account.

[kars]

Time to do some shopping. Even your old price seems high. I pay about $5400 for garage keepers and workmans comp. (4400 sf)

[Bradley]

This is 2mil coverage 1 mil aggregate on Garage keepers policy. 325,000 on building and 150,000 on contents. This is with Arrowhead Aftermarket and the underwriter is Zurich. Just to clarify, my policy covers garage liability and the building.

Edited September 29, 2016 by Bradley