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Business insurance?

  • 1.  Business insurance?

    Registered Piano Technician
    Posted 6 days ago
    I run an office in the home, no customer traffic, and service pianos in homes, churches, schools. I have had business insurance for decades, but question the need for it. PTG offers the insurance and it is the same price as my personal agent. Do any of you carry business insurance for a simple tuning business anymore? Is it even worth the expense? I am already protected somewhat with an LLC. Thanks in advance for your input.

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    Greg Junker RPT
    Greg Junker's Piano Shoppe LLC
    Belleville IL
    (618) 971-9595
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  • 2.  RE: Business insurance?

    Registered Piano Technician
    Posted 6 days ago
    Greg

    Even as an LLC, it's not a bad idea to carry some liability insurance, If for no other reason than to pay the lawyers to defend you, and your LLC, in case of a law suit. But the insurance will also pay for your LLC for any damage "you" do to either the piano, or your customer's property. 

    When I was still in St. Louis, I got a policy through Steve B at a much cheaper rate than through Safeco. 

    Wim.





  • 3.  RE: Business insurance?

    Posted 5 days ago
    I have carried it for several years and the reason I started in the first place is that I started tuning very expensive pianos on a regular basis and I was also in upscale homes with expensive artwork often sitting on top of the piano.  I got a standard million dollar business liability policy with a $500 deductible through state farm at $27.00 a month.  It has basically stayed the same price for years, so I figure this is worth it for me.  I actually had to claim on it  a couple years ago when I was in an auto accident.  My Ipad Pro was damaged in the wreck and the insurance company paid me $1000 for its loss and my premiums did not go up.

    Churches and schools are now requesting that I have it as well, so I feel like its a good thing.  Also, it is a tax deductible expense.

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    Patrick Greene
    OWNER
    Knoxville TN
    (865) 384-6582
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  • 4.  RE: Business insurance?

    Member
    Posted 5 days ago
    I've never had business insurance. 48 years. I'm self-insured. Sure I've had to repair a few damaged finishes, minor. The money I saved more than paid for it. Besides, if I made a claim; my rates would increase. That's why movers pay me directly for finish repair rather than making a claim. If you don't move pianos, what's the insurance for
    CYA for tuning? Tracking in mud on their carpet?   Don't live in fear.

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    Regards,

    Jon Page
    mailto:jonpage@comcast.net
    http://www.pianocapecod.com
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  • 5.  RE: Business insurance?

    Registered Piano Technician
    Posted 5 days ago
    Jon

    I pay for life insurance. So far so good. 
    I paid for business insurance, but never needed. It was peace of mind.  
    The reason a policeman wears a bullet proof vest is in case someone takes a shot at him.  It's too late when someone does. 

    You've dodged the bullet, my friend. I hope your last customer won't take all the money you've saved.

    Wim





  • 6.  RE: Business insurance?

    Registered Piano Technician
    Posted 5 days ago

    Jon

    Ah...let me see.

    For starters, if you are on your way to a client and you cause an accident,  and if it can be proven it's work related, you are going to need to defend yourself against a potentially large lawsuit. Your car insurance will only cover you so far. It's the business insurance that provides the additional level of protection. Its there for a reason.

    I'm now getting notices from institutions letting me know that I need to add them to my insurance policy in order to maintain my account. That's now including school systems,  local colleges,  concert halls, and even the churches are making these policy changes. They are demanding that I have $1,000,000 in liability insurance. Ridiculous?   I would say so, but that's how the lawyers are framing the rules for vendors working on given properties. The vendor assumes full liability when they step foot on their properties.

    In 45 yrs., I've only had to make one claim and that was from my own stupidity with a customer's piano in my shop.

     

    That all being said, I'm also a plaintiff in a lawsuit, as I was involved in a serious car accident leaving me with lifelong disabilities and restrictions. I'm seeing Lady Justice in motion from the prosecutorial side. Seeing (firsthand) how the insurance coverage and legal system plays out has been an eye opener!  Although I can't get disclose particulars inf my case,  I was hit by person driving a business truck going 70mph, and I was at a stop sign. So the other driver was clearly at fault.  Suffice to say,  the impact that I had was serious.

    For me....I'm staying on the protective side of this argument. I pay the monthly $95 fee and chalk it up to the cost of doing business.

     

    Tom Servinsky 

    Registered Piano Technician

    Concert Artist Piano Technician

    Director/Conductor- Academy Orchestra

    Managing Conductor-Treasure Coast Youth Symphony

    Clarinetist-Atlantic Classical Orchestra

    tompiano@tomservinsky.com

    Website: tomservinsky.com

    772 221 1011 office

    772 260 7110 cell