This may be worth the price of PPFA memebership

[BUDDY]

A while back there was a thread conerning the price and different coverages of BOP insurance ,as well as the agencies offering them. I mentioned that the PPFA no longer endorsed CAPAX and had a different recommendation for their memebers. The New agency is Meadowbrook and they offer BOP and workman's comp .I was only interested in BOP. I also discovered while speaking to a local regional rep Glynn Marcell , that the agencies they use are Travelers,St.Paul's and Hartford. I also discovered that St. Paul's did actually have "Care,Custody, and Control" coverage but they didn't cover Loss do to framers Neglagence ( if the work being framed is damaged due to the framing techniques being used).However Hartford does ,up to $15000. I therefore ( as well as the rep) thought Hartford would cost more.

I can't tell you how surprised we were when I FAX over my St.Paul's renewal coverage numbers ,and Glynn compared them with Hartford , only to tell me that my NEW Hartford coverage with the $15000 extra neglagence coverage would be $1027 as compared to St.Paul's ,with out the neglagence coverage ,at $1441.

That is a $404 savings ,which could pay for my PPFA memebership at least 3 times over. In addition Hartford has an installment program that can be stretched out from 1 to 9 payments.

IMHO this is truly worth the price of memebership.
BUDDY

 

[Emibub]

Thanks for the info Buddy. A couple questions....what is BOP? Also, is this for complete coverage for your business or just for care and custody?

 

[David Knox]

I just switched from Capax to Meadowbrook and even though the policy is the exact same, the premium is cheaper by a few dollars. My policy is for complete coverage as well as "care, custody and control." A few years ago, when first reading The Grumble, I had my local State Farm agent, with whom I had business insurance, research to see if the "Care, custody and control" was part of the policy. Even though he said he was sure it was, it turns out that after vigorous researching by State Farm, there was no coverage due to my negligence. Luckily I never had a claim, but when I switched to Capax only for this reason, my State Farm agent came and studied the new policy to make sure I had all the coverage I needed.

If you have business insurance through a regular company, it is a good idea to have your agent check and double check to make you you have coverage in case of shop negligence.

 

[BUDDY]

Emibub BOP stands for Business owners polocy .It can cover any business but especially those who don't own the property.It covers all your posessions and some problems while not covering the Premisis as your own.However I am not sure but Shops that are owned may use this also.( I rent)
The big discoveries are that CAPAX is no longer the recommended Agency from PPFA. They now recommend Meadowbrook and so far it appears ,for memebers( which I think it is only for,unlike CAPAX) the rates are cheaper even though they write policies through the same agencies.In fact while My Hartford policy is going to be $404 cheaper than my St. Paul's renewal through CAPAX it is also about $1000 cheaper than I paid for Hartford coverage a couple of years ago. I don't know if they lowered their prices but that is impressive.

This is particularly interesting since I was told ( wrongly) that St.Paul's didn't have "Car,Custody and Comtrol' previosly when they actually did. However the real need is coverage for harm to work left with you resulting from your framing. This is totally different from C.C.and C. That covers loss due to things like fire ,theft ,etc while a piece is in your custody and control. The neglagence thing is if harm happens to the work while you are attempting to do proper framing but as a result of what you do. Without this coverage errors on your part aren't covered. Hartford does cover that to a normal limit of $15000. I am not sure but you may be able to buy additional coverage should the job warrant it. This just doesn't occur at my shop too often.LOL

Meadowbrook can also write the same policies with St.Paul and I thik Travelers if yo so desire. That is how I know they are comparing apples to apples .I sent them the stats on my St.Paul renewal and they contacted them to make the comparisons.

Meadowbrook can also write Workmans Comp .for those who have employeees. I don't so this was a mute point.

My point of this post was that at $95 or so for PPFA Dues as comapired to the $404 savings the memebrship was paid for 3-4 times over. In additon I now am covered for more than I was before,and it may be a far cheaper rate for Hartford than I have ever paid while going through CAPAX. Give PPFA a call and join or get the Phone number for Meadowbrook and compare their prices . It may save you some money and give you better protection.
BUDDY