I had one company that I have pumped for this year which is almost gone about 2,000.00 send me a letter telling me I had to increase my Insurance to meet there guide line's to do that it will add 1,100.00 more to the total, my  Business Owners Policy is OK , MY Commercial Auto would go up 200.00, my Workers Compensation would go up 200.00, then and Umbrella Policy would add 700.00.

I have been in business 4 years heading into 5 years this company has only used me starting this year, and there is no  way for me to know how much they will use me in the future I have several companys I pump for,to me this is taking a chance on future work, my insurance tell me I have enough coverage right now, and no other companys have asked for this extra coverage should I having a meeting with them and discuss this consern.

I had a similar situation ed. I was asked to comply with their ins. regulations. I was not sure just as you are. long story short I did what they asked, and said company is now about 65% of my business, for the past 3 years. Worked out good for me, but as you said it is money spent on possible future business. You might inquire about what exactly the want and why, but if you don't have a good relationship with them they might just say forget that guy. To most big concrete contractors a pumper is just another # in their contract. They have their business to run, and if you make it easy for them to deal with you, you get the business... That's my 2 cents anyway. good luck.

Ed,have heard of this before.A friend does sawing/cutting and had to increase his coverage.As Redman has said a good investment.I too would want to know what percentage your work would increase,for the bean counters.

It will be a PITA to pay the extra now but, like was said by others, odds are it will pay off.

Looking at it from the contractor's perspective: If the bean counters need you to have more insurance, it's just one more headache to convince them that you are legit.

When you do get the insurance coverage, now the contractor can just call you up!  You are approved to work on their site by the guys in big hats so when they need the mud placed, they call you.

If you're still wavering, go down there and tell them,"Hey, I can get the insurance, am I going to be in line behind Joe's pumping or will you at least call me first?"

My opinion: Pay the premium this year.  Change it if it doesn't work out at the end of the year.  This insurance coverage deal really is becoming the norm.

Yeah Ed its hard to swallow as a little outfit like I am, had a big homebuilder require the same on me to do his work, as it works out know they have something every month cant say that for anyone else down here.. God I hope it picks up soon.

More and more companies are adding verbiage to their requirements to hold down THEIR cost of insurance. Additional insured, waiver of subrogation, whole harmless. Those words cost us to be added. I pay a set amount for unlimited usage of those words. I pay additional charges for "subs" on my policy. I said but I only use subs with insurance. There reply was if your sub has to file a claim and he does not have enough insurance we are next in line so we want to be paid for that risk. Because of a couple of my contractors and plants I work in I carry a 5 million dollar policy for general liability. Then theres workman's comp and man when I work over the water watch out. But I have enough for anybody so far and that is one less thing to worry about. I am truly insurance poor.

The other thing with my carrier is there scared if you do tract housing. supposedly because of past class-action suits. they don't want your /there exposier to this to be above 10% of your work??