How to insure a coal broker???

[Markthebroker]

Unfortunately not. Good luck with it, sounds like it should be a good premium if you can place it.

Oh yeah. I bet this one would be juicy. I am working on a shooting range and a manufacturer right now. Both of them are a pain in the butt, but boy the commission is going to be FAT.

 

[cylon58]

Yeah, he already received a quote for around 30K, but he wanted to give me a chance to match it... I hope I can find somebody.

 

[Markthebroker]

Yeah, he already received a quote for around 30K, but he wanted to give me a chance to match it... I hope I can find somebody.

If it was me, I would start building rapport. Then, if you can't find anything better, try to bor the quote.

 

[cylon58]

If it was me, I would start building rapport. Then, if you can't find anything better, try to bor the quote.

Haha! He is family. No rapport necessary. I do want to make sure it is the right coverage, though.

 

[VolAgent]

Haha! He is family. No rapport necessary. I do want to make sure it is the right coverage, though.

I would think the trainset rental and coal are well in the 6 or 7 figures. So 30k for the one time run doesn't seem out of line to me off hand.

 

[cylon58]

I would think the trainset rental and coal are well in the 6 or 7 figures. So 30k for the one time run doesn't seem out of line to me off hand.

Agreed. He is looking to make some money off this, and the 30K for insurance wouldn't completely kill his profit.

 

[cylon58]

Just an update. This requires liability plus $50,000 on physical damage on each car ($5.5MM). I am working with 3 brokers to place this. I'll update again when I know more.

 

[cylon58]

Another update. I have quotes for both liability and inland marine. The liability alone is just under $30,000. The property is $49,000. The applicant didn't run away when I gave him the premiums. Hope to close this next week. That'll be a good start to 2018!

 

[VolAgent]

Another update. I have quotes for both liability and inland marine. The liability alone is just under $30,000. The property is $49,000. The applicant didn't run away when I gave him the premiums. Hope to close this next week. That'll be a good start to 2018!

Good luck, should be a good one. Plus if he continues to broker coal or can introduce you to others that do, you may have found yourself a profitable niche.

 

[Markthebroker]

Great to hear cylon58. I assume you will be issuing our standard "advice commission" of 10% on this shortly, then. While I prefer paypal, cashiers check is also acceptable.