Re: Machine Shop Owners - Shop Insurance question
[Re: onyxba]
#1335705
11/15/12 01:03 PM
11/15/12 01:03 PM
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Joined: Feb 2005
Posts: 28,312 Cincinnati, Ohio
Challenger 1
Too Many Posts
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Too Many Posts
Joined: Feb 2005
Posts: 28,312
Cincinnati, Ohio
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Quote:
Check with Federated insurance.
I have used Federated and don't anymore.
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Re: Machine Shop Owners - Shop Insurance question
[Re: Challenger 1]
#1335706
11/15/12 04:28 PM
11/15/12 04:28 PM
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Joined: Jun 2007
Posts: 2,646 Plymouth Meeting, PA
bigtimeauto
Trophy Winner
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Trophy Winner
Joined: Jun 2007
Posts: 2,646
Plymouth Meeting, PA
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Funny Bob George said traveelers. They just dumped me because they saw my web site with the race cars even though it was listed on my policy.
I now have a agent who shops my insuarance regularly because of the race car part of the buisness.
BB, TT5,Procharged 3300lb Street Car 4.79/154
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Re: Machine Shop Owners - Shop Insurance question
[Re: bigtimeauto]
#1335707
11/15/12 04:35 PM
11/15/12 04:35 PM
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Joined: Nov 2004
Posts: 3,544 Syracuse,NY
CompWedgeEngines
master
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master
Joined: Nov 2004
Posts: 3,544
Syracuse,NY
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Yep....no one would touch mine because of anything to do with "racing". BUT, you can say "performance". Id be curious if BG uses his " Bob George Racing" name in his polucy. My guess is it may be something else.. I have had prices from $800 - $4500 a year quoted.
RIP Monte Smith
Your work is a reflection of yourself, autograph it with quality.
WD for Diamond Pistons,Sidewinder cylinder heads, Wiseco, K1 rods and cranks,BAM lifters, Morel lifters, Molnar Technologies, Harland Sharp, Pro Gear, Cometic, King Engine Bearings and many others.
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Re: Machine Shop Owners - Shop Insurance question
[Re: astjp2]
#1335712
11/16/12 03:23 PM
11/16/12 03:23 PM
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Joined: Mar 2006
Posts: 9,910 Eighty Four, PA
B G Racing
master
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master
Joined: Mar 2006
Posts: 9,910
Eighty Four, PA
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Bundle,home,auto,business and form a Corperation or Limited Liability Company.BGR is not a part of Bob George Ent.LLC.When we switched insurance companys a few years back the agent visited our shop and documented our business.Our race cars are insured by a speciality classic and race car insurer seperate from our business,our business supplies parts and service to motor sports partisipants with a strict customer policy.The problem with trying to incorprate racing as part of the business structure crates a liability that no insurer will want to touch.Business is business,racing is a hobby.A machine shop or any garage type business should not involve racing,however it can be deducted as advertizement.
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Re: Machine Shop Owners - Shop Insurance question
[Re: astjp2]
#1335713
11/16/12 04:23 PM
11/16/12 04:23 PM
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Joined: Oct 2007
Posts: 4,206 New York
polyspheric
master
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master
Joined: Oct 2007
Posts: 4,206
New York
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They'll go after your home equity.
Boffin Emeritus
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Re: Machine Shop Owners - Shop Insurance question
[Re: astjp2]
#1335716
11/17/12 01:49 AM
11/17/12 01:49 AM
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Joined: Oct 2007
Posts: 4,206 New York
polyspheric
master
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master
Joined: Oct 2007
Posts: 4,206
New York
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Yeah, I used to see a lot of that at work (Supreme Court of New York, Civil Term) "What the **** do you mean, they filed a lis pendens on my house?"
Need more info on how this is done? Google "piercing the corporate veil".
Boffin Emeritus
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