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Chele

join:2003-07-23
kudos:1

Insurance company names

I'm looking for an insurance company for the WISP, and it's like pulling teeth!! Not a single company I have spoken to has any idea what a WISP does, even after I explain it.

Can you guys provide company names? Or referrals?

Thanks

We should have a rolodex in DSLreports for this kind of stuff

gunther_01
Premium
join:2004-03-29
Saybrook, IL

wirelessdog

join:2008-07-15
Queen Anne, MD
kudos:1
reply to Chele
UNBELIEVABLE!

These guys are in the same town I service and live in. My policy is up for renewal soon so this is just funny. I'll have to go visit them on Monday.


mtroup
Marty
Premium
join:2007-06-28
Hermitage, AR
while searching for my insurance i found it much easier to describe the type of coverage (such as describing what damage i might be able to inflict upon a customer's premises ) that i was looking for instead of starting out with what type of business i am in.. my agent knows exactly what i do but i believe he wrote my policy more regarding electrical/telecom installation and such as that truly is what we are doing.. when you use the terms "wireless, internet, or tower" you are going to find that most don't even want to talk to you..

Chele

join:2003-07-23
kudos:1
reply to Chele
Thanks Gunther.

Mtroup
Friday morning I put my info in one of those insurance referral sites and I had talked to 3 different people by the afternoon. All three people were very eager and accommodating. I get the feeling that, with today's economy, right now might be a good time to purchase long term items.


mtroup
Marty
Premium
join:2007-06-28
Hermitage, AR
Well.. I met with a few agents that were very eager but when I started seeing the figures I wanted to cry. They told me that they base the rate off the industry and that for computer/internet they started out quite a bit higher (nearly double) for the same basic liability policy that they offer to electricians and other installers of wiring/etc.. however my primary business is the installation of cabling and networking devices so it may be different for you.. if something does work out I might have to rethink mine as well as you are probably on the right track with the purchase of long term contracts


jkrusel

join:2003-04-12
Leslie, MO

2 edits
reply to Chele
Seriously, you might want to check with Lloyd's of London, they can probably help. They have offices here in the US, and their prices are competitive.

I know this sounds bizzare, but Lloyd's will write insurance ON anything FOR anything, you really should check them out, I'll bet they have several packages that would be of interest.

Jerry
WOOF!

gunther_01
Premium
join:2004-03-29
Saybrook, IL
reply to Chele
Anywhere you go is going to be iffy on the "fine print" but they have a great price for standard Liability Insurance. Their policy reads in stereo so be warned

keefe007
Premium
join:2004-02-24
Germantown, WI
reply to Chele
What rates is everyone paying for insurance here?

I think I'm paying around $200 a month for a 2 Mil policy plus 5 mil umbrella.

wirelessdog

join:2008-07-15
Queen Anne, MD
kudos:1
reply to Chele
How does the insurance differ for doing tower work from being a straight WISP? What does a company like American Towers or Crown Castle require in regards to insurance to become an approved vendor?

Chele

join:2003-07-23
kudos:1

1 edit
reply to Chele
You do have a point. On Friday I got a ballpark estimate(before checking with the underwriters) from around $1K to $5K per year. And a firm quote of $3,071. I'm waiting for more quotes to come in as I did it on Friday and the agents had to check with their respective underwriters.

keefe007
Premium
join:2004-02-24
Germantown, WI
said by Chele:

You do have a point. On Friday I got a ballpark estimate(before checking with the underwriters) from around $1K to $5K per year. And a firm quote of $3,071. I'm waiting for more quotes to come in as I did it on Friday and the agents had to check with their respective underwriters.
What did that policy include?

Chele

join:2003-07-23
kudos:1
reply to Chele
It was a "quick" quote, meaning she gave me the price but not the details! I had told everyone: we needed to to run low voltage lines, install gear on the roof, run data lines, mess with servers(PC's, servers, etc), and drill through walls. This got me the "ballpark" quote of $1K, I then told them we might be doing security cameras and the "ballpark" quote jumped to $5K. Their reasoning was that the risk factor was fairly low for what we did, but it was quite high for security cameras because someone could get hurt(and sue) if we didn't aim or cover the area with the cameras properly. And I also asked for "errors and omissions" as well. Hopefully I will have more info on Monday.