Cactus,does the person you insure with write policies for oilfield work in the Michigan area? The agent I have has my policy written with a company out of Ohio,and she says there are not many companies out there that insure oilfield welders because of the risk involved.I weld on drilling rigs,also do wellheads,facility work and just general maintenance for a few production companies. My premiums for a million dollar coverage is $3,000 per year and that does not include the necessary insurance required on my truck. Thanks.
Be warned. $3000.00 a year for coverage is not enough to give you the coverage you need if something goes wrong!!!! If you are sue proof, or you just need to get on the job and you have no assets to protect, don't worry. However, if you really need the proper insurance for the job you are doing, I recommend you speak to more insurance agents. I would guess that the proper insurance premium you need for liability coverage alone, would be almost $20000.00 per year.
The first thing you need to do is incorporate. Then. NOTHING you own can be attached. Type S Corp. I would suggest YOU speak to a Lawyer
You need to be a Texas resident. My GL does not cover My Truck either. Ask your Agent if they can quote with Nautilus.
thanks for the advice man
My agent has me covered through Travelers. I have 1mil with 2mil rider, covers truck and 5K on my tools. 1mil accident in case I have a wreck with someone and they want to sue. Mine went down cause I am not getting workers comp this year....no employees I ain't paying for it. Per year, about $2100. I've done some gas pipe but if I start doing more I'll have to bump up. Agent I have is pretty slick, talked to her about the gas pipe and seems like they have dealt with rig welders before. Talked about what Columbia Gulf requires etc. Stuff ain't cheap by any means. Those guys like Cactus getting it for $1300 amazes me. I think different states have different requirments, add ons and what not. Just my .02
I have been doing this for a LONG time. The Company that my agent has me covered under is a Specialist for Rig welders. Ask your Agent if they can underwrite a policy with NAUTILUS. Rig Welders are their main Buiss. If they cant, find an Agent who can. It will also help your cost if you ask them to make sure that your Experience Mod is being factored in
"I have been doing this for a LONG time"
I was actually thinking that and wrote it down Cactus, figured you've been at this for awhile and that experience alone would be a factor when getting insurance. Seems like they wanted a minimum of experience if I remember correctly, but been a over a year since I picked mine up and have slept a bunch since then.
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