Insurance Increase

Andy Hinson

Andy Hinson

New member
Joe Walters insurance has just raised my premiums. Monthly payment was $80. It is now $112.


No claims, and no new equipment added. I called them to see if there was a mistake. She said it does seem you got hit hard. Go ahead and make your new payment. It will take TWO WEEKS to get an answer as to why it increased.


How long would it take if I had a claim?
 
Wow, that is a big difference!

I thought when you have the yearly contract, you put money down and pay a monthly payment, like I do at Nationwide and it does not change until the new policy starts next year, if it even changes which sometimes it stays about the same.

Why would they be changing it during the policy? That does not make sense to me at all.

I wonder if this is happening to other contractors also?
 
It is time for a change. She said every one has had and increase. They also insure my equipment. I told her I wasn't paying that amount. All I wanted was general Liability. Insured to clean roofs up to 3 stories and I would drop equipment coverage. Ohhh she didn't want to do that! Ask me to pay new amount until she had an answer.
I did tell her to drop my trailer and lower the values on my equipment. I will be working on a flat bed soon and I do not have automobile insurance with them.
 
I just switch to them last month. I think my previous company was charging me about a thousand dollars a year for basic liability and no equipment coverage at all. I switched to Joe Walters and now I'm paying $700 a year and it includes $2000 worth of equipment coverage.

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I have 15K in equipment coverage and business policy, all for about $1500 more or less per year through Nationwide.
 
JDhomeservices said:
I just switch to them last month. I think my previous company was charging me about a thousand dollars a year for basic liability and no equipment coverage at all. I switched to Joe Walters and now I'm paying $700 a year and it includes $2000 worth of equipment coverage.

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If you want the best rates you have to change from time to time.I just had to do that with my home and auto. It's crazy that a company could continue to receive your steady payment or lose it all to someone else.
 
Andy Hinson said:
If you want the best rates you have to change from time to time.I just had to do that with my home and auto. It's crazy that a company could continue to receive your steady payment or lose it all to someone else.
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Just did that with my web hosting company ... they jacked my plan up by 3 times, so I switched, and got a better deal to boot!
 
Kris Caswell said:
Whats the difference between using j walters vs another general liability company? Is insurance just insurance?
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That would depend if you want headaches or not when you NEED the insurance. I've been with companies that paid 3 days following a claim... I've also been with companies that took 6 MONTHS to settle out a claim (another party rear ended one of my vehicles). Unfortunately you get what you pay for in insurance too. I'm with Steven - about $15,000 a year for my GCP and auto. Then there's workmans comp at another $4600. Being legit sure isn't cheap!
 
Greg Rentschler said:
That would depend if you want headaches or not when you NEED the insurance. I've been with companies that paid 3 days following a claim... I've also been with companies that took 6 MONTHS to settle out a claim (another party rear ended one of my vehicles). Unfortunately you get what you pay for in insurance too. I'm with Steven - about $15,000 a year for my GCP and auto. Then there's workmans comp at another $4600. Being legit sure isn't cheap!
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I don't need much equipment or vehicle coverage, because my truck and equipment aren't worth much. Lol. Not worth having full coverage on a truck I only paid 3k for. I was told by my insurance agent that I cannot get workmans comp because I don't have any employees.

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Andy Hinson said:
Joe Walters insurance has just raised my premiums. Monthly payment was $80. It is now $112.


No claims, and no new equipment added. I called them to see if there was a mistake. She said it does seem you got hit hard. Go ahead and make your new payment. It will take TWO WEEKS to get an answer as to why it increased.


How long would it take if I had a claim?
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That's some really bad PR for Joe Walters Insurance. Their name has been thrown around a lot lately about how reasonable they are and the fact that they have been insuring PW companies for years. I thought about calling to get a quote. I'll rethink that thought after hearing this. There has to be a good reason for raising your rate. Or maybe not!
 
Rance said:
That's some really bad PR for Joe Walters Insurance. Their name has been thrown around a lot lately about how reasonable they are and the fact that they have been insuring PW companies for years. I thought about calling to get a quote. I'll rethink that thought after hearing this. There has to be a good reason for raising your rate. Or maybe not!
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Rance, I would still give them a call to get a quote and ask questions - I was with them for around 4 years before switching. Never had an issue and the office staff were responsive and helpful.

The reason for switching was forced due to a workers comp coverage change and the new company were giving me better rates by bundling everything.
 
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