Liability insurance in Central Florida

Hello all,
I just found this site…it’s great. I’m starting a roofing business here in central Florida and I was told I MUST have liability insurance on myself and the going rate is roughly 5K a year. Please respond with what you are paying…for a new business with no money whatsoever…how can someone pay 5K a year plus about 66 cents on the dollar for Workers Comp. on the employee, and still feed his kids?
Tell me there’s hope here in Florida for a hard worker.

Big G, since you’re playing by the same rules as everyone else then you have to ask why you’re not charging enough (or GOING to charge enough) to cover that $ 5K bill.

My point here is if all the existing co’s are making their money, why aren’t you?

I’m not in a restricted state like Florida (no state licensure, although I’d like to see it).

Big G, The minimun insurance coverage for a roofing contractor in Florida is $300,000. The going rate in most areas is approx. $6000 for every $300,000 in sales.If you do 1 million a year in total sales your premium will be about $20,000. The only hope for you is to charge enough money to make your monthly insurance payments. Know your numbers and what you need to charge to be profitable. Don’t get caught without insurance. In Florida big brother is always watching.

Hey Guys,
Thanks for the help. I must’ve got a quote for liability on close to 300,000 in sales. My mistake, that’s for damn sure. I’ll have to readjust the actual anticipated sales…as in WAY less.
Thanks again for the help.