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  1. #21
    Join Date
    Feb 2006
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    Republic of Texas
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    Quote Originally Posted by Bobw View Post

    I'm not even sure who I had, but they sucked.. $386 a month. 2mil general liability, 160k ish
    on the machines.. And some other stupid shit.. I bought the building and had to include the building,
    I though I was going to get screwed.. I ended with Farmers.. same $2million general liability, they
    tagged the building at $386k, I upped the equipment to 280k, plus all the other misc. BS.. Fire and
    theft and "Up to 9 bushes or trees at $85 each"... $132 a month last year, $150 a month this year.

    .
    You mentioned your insurance in another thread awhile back, so when I started looking for insurance last fall(renews in December) I talked to the local Farmers agent. He said that the company would not let him write a policy for a machine shop. Had a cold call from someone higher up who gave my info to another agent in Austin. He sent me a form to fill out and that's the last i heard from him. Tried to call him at office and cell number several times- didn't answer either phone or respond to messages left.

    Made an online query and got an email response from agent in next town down the road. Called several times, same deal, nobody answers the damn phone.

    Had to stay with same company at more than twice what you are paying. Who is your Farmers agent? I got questions.
    .

  2. #22
    Join Date
    Mar 2011
    Location
    Denver, CO USA
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    Quote Originally Posted by Oldwrench View Post
    Pursuant to converterking's kind words about me over in the social justice warrior subforum I will try to contribute to this discussion—unfortunately, he is 100% correct that product liability insurance is not obtainable for the manufacture of race car parts. Years ago, before the industry gained public recognition, the language in a business policy which dealt with "completed operations" could be construed to cover manufactured products. Nowadays, forget it. I actually asked Lloyds back in the early 80s and after I told them what we make (and like an idiot, ran my mouth about that week's claim to fame, which was the steering rack in the winner of the stock-car class at Pike's Peak) they wouldn't quote it. He didn't laugh, but he wouldn't quote it.

    My opinion is that you should be selective about who you sell parts to (insofar as that is possible) and at the very least, publish disclaimers prominently in your catalog which point out that motorsport is inherently dangerous. And be able to demonstrate that your procedures embody due diligence in every aspect of manufacture, including random drug testing according to a detailed written policy which every employee has signed.
    First...
    Insurance will destroy everything fun people do.
    Second...I don't stamp anything I design as an engineer.
    Third....
    What team on pikes peak, I was probably there.

  3. #23
    Join Date
    Feb 2005
    Location
    Hatch, NM Chile capital of the WORLD
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    Quote Originally Posted by alphonso View Post
    You mentioned your insurance in another thread awhile back, so when I started looking for insurance last fall(renews in December) I talked to the local Farmers agent. He said that the company would not let him write a policy for a machine shop. Had a cold call from someone higher up who gave my info to another agent in Austin. He sent me a form to fill out and that's the last i heard from him. Tried to call him at office and cell number several times- didn't answer either phone or respond to messages left.

    Made an online query and got an email response from agent in next town down the road. Called several times, same deal, nobody answers the damn phone.

    Had to stay with same company at more than twice what you are paying. Who is your Farmers agent? I got questions.
    .
    I actually ran into the same problem.. My lawyer recommended a Farmer's agent.. I got a quote in a day..
    And then nothing... Emails, calls, etc etc etc.. so I liked the price and called another Farmers agent 3 weeks later..

    Turns out you have to fire one agent to use another once you are in the "system"... That was a pile of
    BS my lawyer took care of.. Either way.. She BENT OVER BACKWARDS for me.. She was on vacation fishing
    and her secretary/assistant/helper? was dealing with the paperwork and everything got done in literally
    no-time(2 days), phone calls flying everywhere... It all needed to be done NOW.. (signing on the building and all)...

    I don't know if she can help you, out of state and all, but she did a bang up job for me..
    Kim Yerxa - Farmers Insurance Agent in Las Cruces, NM
    She's also small, just her and her helper or whatever...

    Cruces is pretty small in an area that essentially has NO population and there are 7 Farmers agents..
    There is even one here in Hatch.. I'd say look for the smallest... And this may sound sexist, but,
    I'd look for a female agent..

    I will sing her praises from here to where ever, and I've recommended her to everybody I could..
    I need to swap my car insurance over also, but its SOOO easy to click "pay now" in an e-mail every
    6 months.


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