03-23-2024, 01:46 PM
The liability insurance wasn't super expensive so long as it never got used.
------
On a new business, they have no real way to determine your potential losses, so they "make up" a premium amount for the first year. At the end of the year, when you renew, they change the rate based upon whether you filed any claims or not. This works the same for unemployment compensation insurance and workmens comp. The second year premium can really jump.
------
On a new business, they have no real way to determine your potential losses, so they "make up" a premium amount for the first year. At the end of the year, when you renew, they change the rate based upon whether you filed any claims or not. This works the same for unemployment compensation insurance and workmens comp. The second year premium can really jump.