We are buying an existing business next week and in checking for Ins The best quote I've got is from Columbia Mutual, anybody dealt with them or know anything about them? They've been around over a hundred years but the quote was so low compared to others it makes me nervous. $1,000,000 liability, replacement cost on the buildings, and 1 years income coverage, plus quite a bit else for $800 a year. Anybody?
Michael

Hi,

Columbia Mutual is rated A-V111 by AM Best, a service that rates insurance companies. I am not familiar with them but an A- rating is in an excellent catagory.

Make sure Columbia Mutual is providing you with the specialized self-storage coverages, such as Customers Goods Legal Liability and Sale & Disposal Liability. Also make sure they include fences, gates, etc as part of the building coverage. Look for buildings to be written on a blanket basis. And, make sure that your business income coverage includes an extended period of indemnity to give you the chance to rent back up after a covered cause of loss.

If this is all foreign to you, get in touch with me and I will help as much as possible.

Good luck - this is a great industry!
Randy

__________________
Randy J Tipton, CIC
President
Universal Insurance
3300 N Central Ave, Suite 1520
Phoenix, AZ 85012
randyt@univins.com
800-844-2101 extension 1153