Allstate Insuring Contractors?

[AZDave]

Hi All;

I have a plumbing contractor insured that shared with me a quote he received from Allstate for GL and BAP. Both lines are quite a bit lower. On the GL, they are quoting their BOP policy, and it does not show the rating exposure's on the quote - could very well be fudging the payroll, or classing it as a plumbing parts store.

My agency is 60% contractors and I run into competitors all day long, but I have never run into Allstate for contractor GL.

Anyone else?

Dave

 

[bobson]

Hi All;

I have a plumbing contractor insured that shared with me a quote he received from Allstate for GL and BAP. Both lines are quite a bit lower. On the GL, they are quoting their BOP policy, and it does not show the rating exposure's on the quote - could very well be fudging the payroll, or classing it as a plumbing parts store.

My agency is 60% contractors and I run into competitors all day long, but I have never run into Allstate for contractor GL.

Anyone else?

Dave

They will write that auto all day long. The BOP, not so much.

 

[insurance1822]

Allstate started pushing their garbage commercial products. Only certain agents can write contractors & chances are they've entirely rated it incorrectly as a plumbing supply store on a BOP. They were writing mixed hab at insane prices a few months back & now they're non renewing everything.

 

[XdateNotSexDate]

Talking to a captive guy, he said they get into it but usually jump out the following year. Maybe bc they're rating it incorrectly, loss ratio skyrockets?

Azdave, how big is contractor- # of EE or payroll?

 

[AZDave]

$100,000 in payroll to others. 4 auto units.

Anyone know if their rate is based on sales or payroll. The quote does not show it.

 

[RicFlairII]

I left Allstate a few years ago after 24 years. We never did anything
remotely like that plumbing risk.

I would bet the agent is pulling some shenanigans.

 

[XdateNotSexDate]

I think your hunch that he's classifying it as a supply store is probably accurate. my all state friend is in a totally different market being here on the east coast but said when they do commercial, its usually about 50 specific classes and main street type business.

He knows they recently rolled back out with some commercial classes, but b/c its been such a disaster for him in the past (writes it 1 year, the next they non-renew and he is left with a pissed off client), he hasn't even looked at their material.

 

[insurance1822]

Allstate's commercial auto can be super competitive right now, but again they'll just quadruple the rates in a year. They may have farmed out the GL through their brokerage outlet. Typically it's a waste of everybody's time trying to go through their broker outlets, however the agent can essentially forward the information to an in-house specialist who will get the quotes from the broker house on their behalf.

So the agent may have quoted the commercial auto & presented a brokered quote for the GL. The prospective insured may not know enough to differentiate between the two (just assuming the quotes are from "allstate.")

 

[bindthatthing]

Hi All;

I have a plumbing contractor insured that shared with me a quote he received from Allstate for GL and BAP. Both lines are quite a bit lower. On the GL, they are quoting their BOP policy, and it does not show the rating exposure's on the quote - could very well be fudging the payroll, or classing it as a plumbing parts store.

My agency is 60% contractors and I run into competitors all day long, but I have never run into Allstate for contractor GL.

Anyone else?

Dave

We have a contractors bop here and is super competitive for the right customer. Payroll is the rating factor. If your lead is an LLC or Inc., their system won't let them fudge the SIC. Hope this helps.