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  • Who Is Your Insurance Provider

    There Are Many Companies That Provide Security Companies With Liability Coverage. Who Is Your Provider? Whose The Best Company To Go With? I'm Currently Paying 400 Monthly And Had To Put Down 1100. Does Anyone Know Of A Better Deal? Thanks In Advance.

  • #2
    What state do you operate in?
    Richard Dickinson
    Dickinson Security Management Group, LLC
    DSMG Provides a Variety of Software Products and Consulting Services to the Contract Security Industry
    www.hrdickinson.com

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    • #3
      Originally posted by GordonSecurity View Post
      I'm Currently Paying 400 Monthly And Had To Put Down 1100.
      Is this for a Million Dollar policy per year. or what? Are your people armed or not? There's a lot to consider, so if you can help get a better picture...
      ~Super Ninja Sniper~
      Corbier's Commandos

      Nemo me impune lacessit

      Grammical and Spelling errors may occur form time to time. Yoov bin worned

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      • #4
        Originally posted by GordonSecurity View Post
        There Are Many Companies That Provide Security Companies With Liability Coverage. Who Is Your Provider? Whose The Best Company To Go With? I'm Currently Paying 400 Monthly And Had To Put Down 1100. Does Anyone Know Of A Better Deal? Thanks In Advance.
        GordonSecurity this might sound obvious but ensure the company or companies you finally zero in on are licensed to business in your state and have a stable track record. Don't take their word for it check with your state's insurance commission housed either with commerice, state or attorney general departments.
        There are horror stories of people paying a company year after year only to find out when they file a claim the company is bogus. Don't mistakenly line the pockets of a crook.
        Enjoy the day,
        Bill

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        • #5
          ^^^ What he said, X3!!!
          ~Super Ninja Sniper~
          Corbier's Commandos

          Nemo me impune lacessit

          Grammical and Spelling errors may occur form time to time. Yoov bin worned

          Comment


          • #6
            Originally posted by hrdickinson View Post
            What state do you operate in?
            .

            I operate in California

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            • #7
              Originally posted by GordonSecurity View Post
              .

              I operate in California
              Here are links to companies that can help you in CA. I know the prinicipals of both firms quite well and both have very high integrity.

              http://www.brownyardprograms.com/ Their website doesn't list it, but they opened an office in CA over a year ago.

              http://www.eldoradoinsurance.com/ These people often insure start ups!

              I hope this helps!
              Richard Dickinson
              Dickinson Security Management Group, LLC
              DSMG Provides a Variety of Software Products and Consulting Services to the Contract Security Industry
              www.hrdickinson.com

              Comment


              • #8
                I would recommend that you do not fill out an online application (I know El Dorado has one). Their underwriting decision will be made based on what little info you provide on the application and the rates will be high. When looking for insurance you have to "market" your company much like you would to a prospective client. The application should be accompanied by any materials that describe your firm and paint it as a high quality low risk company. These materials might include copies of your policies and procedures, officer handbook, a description of your target market (i.e. commercial buildings versus bars and strip clubs) and even a business plan to back up your payroll estimate.

                The more they have to work with and the better the information, the better your chances are that your rate quote will be the lowest they can provide.

                Good luck.
                Richard Dickinson
                Dickinson Security Management Group, LLC
                DSMG Provides a Variety of Software Products and Consulting Services to the Contract Security Industry
                www.hrdickinson.com

                Comment


                • #9
                  Originally posted by hrdickinson View Post
                  I would recommend that you do not fill out an online application (I know El Dorado has one). Their underwriting decision will be made based on what little info you provide on the application and the rates will be high. When looking for insurance you have to "market" your company much like you would to a prospective client. The application should be accompanied by any materials that describe your firm and paint it as a high quality low risk company. These materials might include copies of your policies and procedures, officer handbook, a description of your target market (i.e. commercial buildings versus bars and strip clubs) and even a business plan to back up your payroll estimate.

                  The more they have to work with and the better the information, the better your chances are that your rate quote will be the lowest they can provide.

                  Good luck.
                  Very interesting. I wasn't aware the underwriting (or rate determination) was done on such an individualized basis. Thanks!
                  "Every betrayal begins with trust." - Brian Jacques

                  "I can't predict the future, but I know that it'll be very weird." - Anonymous

                  "There is nothing new under the sun." - Ecclesiastes 1:9

                  "History, with all its volumes vast, hath but one page." - Lord Byron

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                  • #10
                    Originally posted by SecTrainer View Post
                    Very interesting. I wasn't aware the underwriting (or rate determination) was done on such an individualized basis. Thanks!
                    SecTrainer I've said it before to the point it becomes trite. We now see just how important this forum is to us all. I will add Richard's explanation with him getting credit for his contribution. I've used yours as well as Nathan's and others for which credit was given; that being the only fair thing to do.
                    We may have the occasional flibbertigibet, some grammer or typing challenged and one or two who have no clue as to what an antecedent is in a sentence or phrase, but all in all we have a very intelligent group and they make us all the better for visiting and taking their postings to heart.
                    Enjoy the day,
                    Bill

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                    • #11
                      We're in the installation biz, but we saved money going through NBFAA. So look at your trade organizations for one thing, or companies that specialize in insuring your field. Also, if you know or have a relationship with a reputable Independant Insurance Agent, check with them.

                      Alright Bill, I'll bite. What the hell is a flibbertigibet?
                      sigpic
                      Rocket Science
                      Making everything else look simple, since 1958.


                      http://my.opera.com/integrator/blog/
                      One Man's Opinion

                      The Future. It isn't what it used to be.

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                      • #12
                        maybe it's just because texas is a cheap state, but the only company I worked for that even offered medical coverage offered Starbridge, that same pit of dispair offered by Walmart. The little firm I work for right now doesn't offer any at all.
                        sigpicMy ideal security vehicle and uniforms:

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                        • #13
                          Originally posted by integrator97 View Post
                          We're in the installation biz, but we saved money going through NBFAA. So look at your trade organizations for one thing, or companies that specialize in insuring your field. Also, if you know or have a relationship with a reputable Independant Insurance Agent, check with them.

                          Alright Bill, I'll bite. What the hell is a flibbertigibet?
                          Integrator97 a flibbertigibbet is according to Webster's definition "a silly flighty person." In this business we have seen our fair share of these.
                          Enjoy the day,
                          Bill

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                          • #14
                            Originally posted by Bill Warnock View Post
                            Integrator97 a flibbertigibbet is according to Webster's definition "a silly flighty person." In this business we have seen our fair share of these.
                            Enjoy the day,
                            Bill
                            Oh hell! That's me before coffee.
                            sigpic
                            Rocket Science
                            Making everything else look simple, since 1958.


                            http://my.opera.com/integrator/blog/
                            One Man's Opinion

                            The Future. It isn't what it used to be.

                            Comment


                            • #15
                              Hello,

                              I am in California also and mainly do armed work. I have heard great things about El Dorado but last year I was quoted via my online app. and it came in very high (15k year). Lesson learned, so I went with "ACS" which is roughly 457.00 a month after 1200.00 down (Southern Ca based).

                              I will be shopping around in January so thank you for all of this valuable info!
                              Sincerely,

                              www.pmprotection.com
                              PM Protection Private Security & Executive Protection

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