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Insurance Questions

Started by Mikebilt, March 31, 2016, 07:01:12 PM

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Mikebilt

Can anyone give me an idea for full coverage insurance.  My loan holder on my new sawmill requires full coverage insurance on loans over 2500$. I have hit a wall and haven't been able to find anyone who will underwrite the policy. Any help would be appreciated. Thanks mike...
Timbery m285, Kubota B6000
Pleasures of working with wood include the heart, mind, the hand,and eyes.

Magicman

Look to your left at the Sponsor's Banner.  Below Logrite and above Norwood should be your answer.   :)
Knothole Sawmill, LLC     '98 Wood-Mizer LT40SuperHydraulic   WM Million BF Club Member   WM Pro Sawyer Network

It's Weird being the Same Age as Old People

Never allow your "need" to make money to exceed your "desire" to provide quality service.....The Magicman

WV Sawmiller

Mike,

   Be sure to tell the insurance dealers you are looking for an Inland Marine policy. The sponsor on the left has such policies and your local insurance dealer may be a broker for some. My local Nationwide dealer had a few sources. I got liability insurance from her at what I considered reasonable rates but declined the Inland Marine/comprehensive because I felt the cost for the amount of coverage was not justified and I did not have a loan holder to contend with. If my mill is destroyed it will hurt I can replace it, I could not afford to pay huge hospital bills if  someone gets hurt and it is my fault.

   Good luck.
Howard Green
WM LT35HDG25(2015) , 2011 4WD F150 Ford Lariat PU, Kawasaki 650 ATV, Stihl 440 Chainsaw, homemade logging arch (w/custom built rear log dolly), JD 750 w/4' wide Bushhog brand FEL

Dad always said "You can shear a sheep a bunch of times but you can only skin him once

Magicman

I did not realize that the FF Sponsor did not cover Nebraska.  My apology. 
Knothole Sawmill, LLC     '98 Wood-Mizer LT40SuperHydraulic   WM Million BF Club Member   WM Pro Sawyer Network

It's Weird being the Same Age as Old People

Never allow your "need" to make money to exceed your "desire" to provide quality service.....The Magicman

ncsawyer

Wow...requiring insurance on a $2,500 loan is a little excessive.  The lender will likely incur more administrative cost documenting insurance coverage on a $2,500 loan than they will make on it.  By full coverage I assume you mean you need hazard insurance and liability insurance.  It can be difficult to get insurance on a sawmill through your normal providers.  I used Farm Bureau here in NC.  I have a commercial inland marine policy and a separate general liability policy. 
2015 Wood-Mizer LT40DD35
Woodmaster 718 planer
Ford 445 Skip Loader

ncsawyer

One other thing I ran into when insuring my mill, was that many insurance companies were not interested in just an inland marine policy on my mill.  They wanted to at least write both the inland marine policy and the general liability policy.

My normal insurance company (Farm Bureau) did not want to write it, but since I had my homeowners and auto insurance with them, they were more inclined to help me out.
2015 Wood-Mizer LT40DD35
Woodmaster 718 planer
Ford 445 Skip Loader

4x4American

I guess the guys I use are no longer a sponsor?  I can't remember the name of them but I could prolly find his email for ya if you want to pm me..They specialize in portable sawmill insurance I take it.  I have been well pleased with them, and I recently re-registered with them. 
Boy, back in my day..

WV Sawmiller

Quote from: 4x4American on March 31, 2016, 09:45:56 PM
I guess the guys I use are no longer a sponsor?  I can't remember the name of them but I could prolly find his email for ya if you want to pm me..They specialize in portable sawmill insurance I take it.  I have been well pleased with them, and I recently re-registered with them. 

    Check out MAI-Ins (Margeson?) as they list Band Sawmills as one of their areas of coverage.
Howard Green
WM LT35HDG25(2015) , 2011 4WD F150 Ford Lariat PU, Kawasaki 650 ATV, Stihl 440 Chainsaw, homemade logging arch (w/custom built rear log dolly), JD 750 w/4' wide Bushhog brand FEL

Dad always said "You can shear a sheep a bunch of times but you can only skin him once

4x4American

That's it!  Margeson & Associates.  Ask for DJ Rossi.  They're out of Horseheads, NY I believe. 
Boy, back in my day..

Mikebilt

Thank you all for responding I will look into all of these options. I knew that I could count on you guys  :D
Timbery m285, Kubota B6000
Pleasures of working with wood include the heart, mind, the hand,and eyes.

WLC

I have my auto and other insurance with State Farm.  So when my lender required ins for my new mill I called them first.  It took some leg work on my agents office end, but they finally figured out that the inland marine policy was appropriate. I was the first WM sawmill they had ever insured at that particular office.   I would suggest that you call whoever you have your auto, home owners etc insurance with and ask them for an inland marine policy.
Woodmizer LT28
Branson 4wd tractor
Stihl chainsaws
Elbow grease.

4x4American

Kind of off topic, but, if I have bad news to break to someone I tell them I have good news and bad news.  I give them the bad news first, and when they ask for the good news, I tell them that they can save 15% or more on car insurance by switching to Geico  ;D
Boy, back in my day..

Robert Owens

I'm like WLC in that I have State Farm Ins. and I have my mill, tractor, and gooseneck trailers insured through them. Any time I get anything new to insure I tell them and they figure it out so they can keep my business. I like having all my insurance needs through one company.

pine

Quote from: 4x4American on March 31, 2016, 10:00:22 PM
That's it!  Margeson & Associates.  Ask for DJ Rossi.  They're out of Horseheads, NY I believe.

For the first two years I insured my mill through DJ and Margeson & Associates.  Good folks and DJ is good to work with. 
My normal insurance company finally figured out how to do it after they insured my mulcher unit and and it was a good bit cheaper so I moved the policy. 

Bottom line however is call DJ he can help you out if you strikeout elsewhere.

Billikenfan

I get mine through my local broker.  It's written through All State.  I pay almost $400 a,year for a 30k policy for my 2015 Woodmizer Lt40.

Scott
2015 Woodmizer LT40  Hydraulic 35hp
Mountain Home Firewood Kiln. Beaver Wood Eater Firewood Processer.  John Deere 260 Skid Steer.

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