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I'm interested in a job that I guess is set up as contractor work, so there's a lot of extra paperwork etc that I would have to set up myself. It involves using my own vehicle.
On the application form it says I need my own auto liability, professional liability, and general liability Insurance. I have auto ins but no clue on the others.
Any idea on the cost of these? The job won't be particularly high paying.
First you should take the words " guess how it's set up" out of the equation and figure exactly and specifically how your new job is set up.
The reason for that is your insurance company is going to want to know. Depending on your liability and what you're doing is going to determine how much and to what extent of each type of coverage you need.
So figure out what you're doing, then call several insurance companies and discuss your options with them. You should be able to bundle all together. Start with your auto insurer if they offer other types of insurance also.
You need to talk to your insurance carrier. Liability ins. for someone who manufactures explosives is different than liability insurance for the guy who operates an ice cream push cart.
In extremely round numbers, you'll probably be looking at somewhere in the range of $2K per year for insurance on a new venture. Obviously, this rate can vary dramatically depending on the risk type.
Try getting a viable quote in writing from an insurance company. That means an insurance carrier can cover you. I wouldn't pay for it though unless they hire you.
A quote and actual paid for coverage are two different things. I think your potential employer just wants to know you have the ability to have coverage.
I noted on the application form they want you to declare you already have it set up.
But I don't have any guarantee they will hire me! I don't want to pay for this before they have even signed me on for work. So I am hesitant.
Some specifics on the industry you're looking in would really help getting some solid advice here. The actual act of getting the certificates of insurance can take 48 hours or so (2 business days), unless it's a complicated risk - and you'll need to shell out at least 25% of the annual amount.
If you want to PM me some specifics, I can tell you how much this will cost and what kind of timeline you'll need for most lines of business. For most clients I've seen, they'll ask for the certs in advance of actually issuing you jobs, so you can still go through the "hiring" process before shelling out the coin.
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