PattyJo Posted October 14, 2009 Report Share Posted October 14, 2009 I just found out that the agent that I went through for my homeowners insurance either did not understand or something because my Millie is not covered. I know that I said that I was in business and that the machine needed to be covered as well as the quilts that were in the house waiting to be quilted. I'm thanking the Lord that nothing has happened that I would have needed to place a claim for. But now, I'm going to have to start over again and have been told that I need a full business policy. If any of you feel comfortable telling me, what do you pay for your business insurance policy and who is your carrier. Link to comment Share on other sites More sharing options...
Primitive1 Posted October 14, 2009 Report Share Posted October 14, 2009 I went through USAA and it is around $500. per year....also covers liability for customers if they should fall, etc., quilts, and all of my equipment. Link to comment Share on other sites More sharing options...
PattyJo Posted October 14, 2009 Author Report Share Posted October 14, 2009 Thanks Vicki - that is the same price that was quoted to me as well. Link to comment Share on other sites More sharing options...
Tamarack Posted October 14, 2009 Report Share Posted October 14, 2009 I pay $650 a year for the same coverage but I'm in Canadian. I should be getting that bill next month....ouch! Link to comment Share on other sites More sharing options...
DoryJM Posted October 14, 2009 Report Share Posted October 14, 2009 Hmmm...that makes me think we should talke with our agent. We're only paying $25 extra a year to cover our equipment...at least, I think that's what's happening. Guess I'll be making a call tomorrow! Link to comment Share on other sites More sharing options...
JustSewSimple Posted October 14, 2009 Report Share Posted October 14, 2009 My husband is supposed to be taking care of this for me as he is still a licensed agent. He said he estimated about $25 a month also. He said there are varing levels and some agencies will "stick it to you!" Link to comment Share on other sites More sharing options...
sewingjunky Posted October 14, 2009 Report Share Posted October 14, 2009 this company has been fabulous to us, and unfortunately we have had two claims back to back. They covered it great and didn't cancel or stick it to us! I don't think I will ever leave this company! Brendalee Link to comment Share on other sites More sharing options...
PattyJo Posted October 14, 2009 Author Report Share Posted October 14, 2009 Sylvia & Dory - is this an addition to your homeowners insurance? And do you do quilts for others? My agent says that he can't add anything to do with business to our homeowners. Before DH passed away, we went to 2 different appointments and we told them that I had a business and that we needed full replacement coverage for this machine and we took the policy that they said would work. Now I find out it isn't what we thought. I'm really bummed about this. Just very thankful that nothing has happened to my Millie or any of the quilts that I've brought into the house. Link to comment Share on other sites More sharing options...
Pennyquilts Posted October 14, 2009 Report Share Posted October 14, 2009 Patty, That is what we were told also. Years ago when I quilted as a second income our agent told us if it was "business" related, we could not put it on our home owners. But, now that I am not in business and just own the machines for self use, their replacement value is included in our home owners in case of fire, theft or water damage. Keep in mind laws vary from state to state and it is a really good idea to pick up the phone and check with your agent. Thanks for bringing up the topic. Penny Link to comment Share on other sites More sharing options...
Primitive1 Posted October 14, 2009 Report Share Posted October 14, 2009 It is a really good idea to check as one of the things we found out is that if you just add coverage under your existing homowners policy, it only covers up to $2,500.00 for your machine....ouch! Link to comment Share on other sites More sharing options...
quiltingjoyful51 Posted October 14, 2009 Report Share Posted October 14, 2009 I went through Nation Wide and I pay under $400. per year. I have a small shop. 1000sq. ft. with steps. This covers people falling and damage to customer quilts and replacement of all my machines. Don't forget to cover your reg. sewing machines if you use them in the business. Most companies think our sewing machines are only a couple hundred dollars so make sure you have your receipts. All of my machines had to be itemized. Link to comment Share on other sites More sharing options...
calicokat Posted October 14, 2009 Report Share Posted October 14, 2009 I pay $300 a year and use the same company as our homeowners, but it is a different policy. My machine is covered for enough to replace it, my inventory (thread, rulers, batting, etc.) & customer quilts are covered and there is liability coverage if they slip and fall. I chuckle because my machine is so old, I actually leave it plugged in during thunderstorms and hope for a lightening strike so I can get a new one, LOL!! Christine Olson has some great thoughts on this topic - as I recall she was an insurance agent in her pre-LA life. I think she has been published in one or more of our LA magazines. I'm at work now, so no access, but you might flip through your back issues and see if you can find her article. Link to comment Share on other sites More sharing options...
njquiltergirl Posted October 14, 2009 Report Share Posted October 14, 2009 Vicky M. We may have the same policy! It is seperate from our regualr homeowner's policy. I also have USAA and they have a small business insurance firm they work with. My coverage is for liability for customers while in my house and for a small amount of business prpoerty. I was concerned about the customers falling...or saying they fell...while here. Apparently, my homeowners does not cover people coming for business. Friends, relatives, etc. yes...but for a business, NO. It does not cover the value of customers' quilts. Mine was about $480/year. Worth it for the peace of mind. Lisa APQS Liberty NW NJ Link to comment Share on other sites More sharing options...
PattyJo Posted October 14, 2009 Author Report Share Posted October 14, 2009 I'm beginning to think that Oregon is a MECCA for Insurance guys cause, they seem to have a huge hold on small business owners according to my agent, there is no business insurance is less than $500 a year. That is on top of the $400 per year for homeowners. $900 per year seems like a lot to me. My DH used to do all this and now that I've got my head out of the sand, I'm just trying to be careful with the money that I have (not that I wasn't before, but now I know where every cent is going - YIKES). I think I need to get out and get a 3rd job! Link to comment Share on other sites More sharing options...
JustSewSimple Posted October 14, 2009 Report Share Posted October 14, 2009 Mike is re-researching the issue and I'll report whatever he says. Link to comment Share on other sites More sharing options...
Quilting Heidi Posted October 14, 2009 Report Share Posted October 14, 2009 I guess I really need to re-look at this. Hubby did the calling for me and we too use USAA. They just added a rider on for my business equipment and it cost about $90 a year. I don't have tons of customers but if they aren't covered on my property that would be a huge liability. Patty Jo I'm with you $400 - $500 seems like a lot when you consider how much you spend on homeowners. I don't understand why somebody wouldn't be covered on your homeowners. I have maybe a customer a week, sometimes 2 and it just seems like a lot to spend that much money. It may be enough for me to re-think this whole business. Less stress on me. Link to comment Share on other sites More sharing options...
DoryJM Posted October 14, 2009 Report Share Posted October 14, 2009 I just got a call from my insurance company because...guess what...the rider hadn't been paid yet. It doesn't go with our regular escrow/mortgage account and I didn't see (more likely didn't pay attention) to the bill. Anyway, we are paying $90 a year. At this point, no customers come to our home, but I do have the LA, customer quilts and all my supplies, plus Dennis has two embroidery machines, a heat press and a screen-printing set up, numerous printers and several computers. When the yurt is done, I will offer people the option of coming out since I think most would like to see it. My guess is that once they've seen it , they'll go back to meeting me in town to pick up quilts. Its a long, dusty road... Link to comment Share on other sites More sharing options...
LinneaMarie Posted October 14, 2009 Report Share Posted October 14, 2009 Geez, I was quoted $621/half year by Nationwide!!! :mad::mad::mad: Guess I'm gonna re-check that!:o Link to comment Share on other sites More sharing options...
JustSewSimple Posted October 14, 2009 Report Share Posted October 14, 2009 Mike said many of us are going to be caught in the "minimum" trap. There is a minimum no matter now little business you do that you must pay just to have coverage. Will report back on what next he says. Link to comment Share on other sites More sharing options...
Primitive1 Posted October 15, 2009 Report Share Posted October 15, 2009 Lisa, It does sound like the same policy, although mine may be higher because of where I live? Or maybe the value of what I asked for coverage for. Mine does cover customers quilts though, maybe that is the difference. But I do have several "elderly" customers that I worry about and since they have to come down stairs to my basement, I asked for 1 million in liability for ea incident - just in case.... Link to comment Share on other sites More sharing options...
TAQuilts Posted October 15, 2009 Report Share Posted October 15, 2009 Insurance for a HOME business with customers is not cheap in Oregon. As my friend who just closed her quilt shop and moved her long Arm home found out. Her business Insurance is now higher in her home than what it was at the shop was..go figure. Price of Insurance is the main reason I can't afford to do customer quilts part time in my home. The cheapest I've been quoted in Portland is $629 a year. Good Luck Terry Link to comment Share on other sites More sharing options...
LinneaMarie Posted October 15, 2009 Report Share Posted October 15, 2009 Still half the price of what we get in Ohio. $621 for 6 months!!!:o I realize 2 or 3 big quilts would cover it, but still with all the other overhead it makes you wonder if it's worth it. Must be to me, I'm doing it!! Link to comment Share on other sites More sharing options...
PattyJo Posted October 15, 2009 Author Report Share Posted October 15, 2009 Thanks Terry. I've been thinking that I may just have to stop doing quilts for others and just do for myself & for friends and family. Kind of a bummer thinking about that though. I'm going to see another Insurance gal today and will see what she has to say. I don't want to gamble on not having a claim just want to do what I love to do. Link to comment Share on other sites More sharing options...
JustSewSimple Posted October 15, 2009 Report Share Posted October 15, 2009 OK Patty Jo, I think you are in the same boat as I am. We have Met home insurance and our best route was to add a small business rider on it. It covers customer injury and covers the costs of my machines. I didn't have to have a larger separate policy because I only work part time at home. This won't work for all those out there who quilt full time for others. It did not increase our costs very much at all but I am well covered. Link to comment Share on other sites More sharing options...
PattyJo Posted October 15, 2009 Author Report Share Posted October 15, 2009 Well, I did go and talk to another agent this morning and I have switched everything over to her. I was able to get business policy to go along with and increase my homeowners coverage. It was $225, but a whole lot better than the $500 that I was quoted. I lost confidence in my previous agent, so because this gal knew her stuff and how it all works together, I went with her. I feel 100% better knowing that my GiGi is covered and so are my other machines, tools, etc that goes with the business. And my agent and one of her staff are both quilters!!! now I may be able to make enough from doing their quilts that I can pay my premiums - or at least part of them. I'm a happy girl:D Link to comment Share on other sites More sharing options...
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