Not sure how true that is ?? I had insurance from day 1 and everyone else I know has had the same. I cannot imagine having a business now days without insurance.I think you will find that most new "industrial" businesses don't have insurance. Most won't insure you until you are a few years in business, so how do you start out?
Yes, I've tried several brokers. The feed back I've been getting is having a shop business on home property is a deal breaker. That and a non existent business history since it's new. I've been up front with them being a welding and fab shop with cutting and welding equipment. There's one potential that said they would write me a legal policy that covers an neglect on my part, but not accidental damage to customer equipment or vehicle. They would reevaluate after a year and if no claim expand the policy. I also reached out to Hartford two weeks ago and they haven't gotten back yet. My home owners (State Farm) won't do it. All this headache is probably because I'm in NY - and no, moving isn't helpful advice.
We are currently with Federated which specializes in the automotive repair industry. Auto Owners also insures auto repair shops. Farmer's does as well. I'm unsure if they would have an issue with the shop being at your residence, but it seems strange to me that they would have a problem with this. Several folks start off this way -- and I commend you on wanting to do things right! Especially since insurance is a huge protection for your own assets as well as coverage for the people you are working for. We are a shop that started super small and grew -- then lost our lease last year which made us lose our million dollar business. We started again in a small town and you're welcome to follow us on social media. Our website has links to our social accounts: https://www.crawfordcountyautorepair.comTurning my hobby of metal fab and auto restoration into a small business. Have reached out to multiple ins companies with little luck in finding someone to write a policy. Common theme has been they don't like me having a shop at my residence so won't write a policy. Anyone have a similar setup that might offer up the company they work with? Thanks
Been through all this **** when I went fulltime self employed. I HAD State Farm at the time. They were like....."Well, we need to cancel your homeowners policy and write up something completely different." They also were talking about maybe writing it if I got a surveyer out and split my property so my shop was actually a different piece of property. Blah, blah, blah..........Anyway, I ended up moving everything to Shelter Insurance where they were happy to help out AND raised the value on my house AND saved me about 1k a year! I couldn't get the typical "garage keepers" policy because what I do is considered "high risk". So I ended up with a modified fire policy with contents and a seperate liability policy.Yes, I've tried several brokers. The feed back I've been getting is having a shop business on home property is a deal breaker. That and a non existent business history since it's new. I've been up front with them being a welding and fab shop with cutting and welding equipment. There's one potential that said they would write me a legal policy that covers an neglect on my part, but not accidental damage to customer equipment or vehicle. They would reevaluate after a year and if no claim expand the policy. I also reached out to Hartford two weeks ago and they haven't gotten back yet. My home owners (State Farm) won't do it. All this headache is probably because I'm in NY - and no, moving isn't helpful advice.