COST OF BUSINESS INSURANCE IN METRO PHOENIX AZ?
We have been still in the formulation stages of combining the business. We have been seeking to begin an LLC which provides with bare hands confidence guards to assorted veteran commercial operation buildings in the Metro Phoenix AZ area. We would similar to to know a ballpark figure - for formulation reasons - of what it would price to get Workers Comp. Ins. and General Liability Insurance with the coverage in the volume of 0,000 for each occurrence, and an sum total of at slightest 0,000.
Thank you.
2 May 2009 in Uncategorized
First off, I would STRONGLY recommend higher limits than 100/300. I'm not even sure those limits would be available for your type of business. I would definitely recommend 1,000,000 / 2,000,000 limits for the General Liability. Think about it, if someone dies because your people failed to act, or acted negligently, is $100,000 going to be enough to pay off a grieving widow or some poor person's family?
Security business are a high risk so your agent would need to approach a non-standard market which generally means a lot less competition. In your case, as a new venture, you'll likely only be able to find one or two proposals to get started.
To give you even a ballpark, we would AT LEAST need to know how many employees you plan to have for the first year. Depending on the General Liability company, your premium will be based on either your estimated Gross Receipts or your estimated payroll. The Workers Compensation premium will be based on your payroll.
Good luck to you!