Insurance Question

I had insurance with a company for liability, It charged me over $400.00 per year then at end of year asked me for sales figures and then tacked on around 300.00 more, they said your estimates were to low on what youd sell per year. My question is this common practive or was this their practice ? I have all the info for starting an Ice cream buisness in my building. But if this how food service insurance works, I'll not be doing this. How is your policy working? Also some one was posting about Progressive, They just auto insurance. CBB in PA

quote:

Originally posted by Cowboy Bob in PA

I had insurance with a company for liability, It charged me over $400.00 per year then at end of year asked me for sales figures and then tacked on around 300.00 more, they said your estimates were to low on what youd sell per year. My question is this common practive or was this their practice ? I have all the info for starting an Ice cream buisness in my building. But if this how food service insurance works, I'll not be doing this. How is your policy working? Also some one was posting about Progressive, They just auto insurance. CBB in PA

That's th way they all work. It's based on annual sales.
Jack

Jack why is that? Is it because more sales more liability? CBB in PA

quote:

Originally posted by Cowboy Bob in PA
Jack why is that? Is it because more sales more liability? CBB in PA

Bob I think it's because they can. But of course they say
more sales and thus more liability just as you said.
Jack

I wonder if you don't meet your sales predictions for the year, do they give you a rebate????