Insurance questions

[Chipbean]

Just wondering how most roasters insure themselves, business, workers comp. and product liability, etc. An additional question....... Is there an association or trade group where you can get decent pricing or just price it out between some local vendors? Where would you go and how would you approach it to find the most efficient underwriting? Thanks for sharing your experience, just a newbie wanting to make good decisions.

 

[eldub]

We're in the process of getting quotes for our little 1,200 sq. ft. roasting/retail shop. We are purchasing a $1,000,000 liability and business policy. The price quoted today from the first insurer was around $600/year.

As far as workman's comp goes, I'm thinking that's mandatory if you have employees. (A friend is currently on the hook for a $40,000 doctors bill after his manager forgot to pay THAT premium and an employee faced off with a knife wielding kook a couple of years back.)

We're getting quotes from the folks covering our homeowners and auto insurance as well as a company recommended by a friend with much experience in small business management.

 

[Chipbean]

Thanks eldub. That looks pretty reasonable. Somehow, I got this whacky idea they would underwrite a roaster negatively and that does not seem to be the case. Good luck with your additional quotes. I appreciate your willingness to share your experience....... and your friends(don't forget the workers comp premium!!)

Anyone with other suggestions or ideas or scary watch out for this stories would be greatly appreciated. We want to run a smart, efficient business.

 

[Apeace]

Hey! When I started, I went through local vendors for insurance. But later, I found better rates through trade associations like the Specialty Coffee Association. They often have partnerships with insurers offering competitive pricing tailored to our industry.

 

[IslaMujeres]

When insuring roasters, it's crucial to cover business, workers' comp, and product liability. Explore options from local vendors and industry associations for competitive rates. Consider reaching out to boston mutual life Insurance customer service for personalized guidance and assistance.