Yikes! Our B & B insurance went up $600!!!!

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The Farmers Daughter

Well-known member
Jun 15, 2009
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I am officially in the market for new B & B insurance. We have had no claims in several years and in this economy a rate hike is mindblowing to me. I would like to hear from some of you about who your carrier is, if they are reasonable in cost and if you are happy with your coverage. Thanks guys.
We have good experience with Markel. I think they are members of PAII
Ours is local, I don't think they work out of state. That's a big hike for insurance.
I have Markel, and I like Markel from an insurance company standpoint. They've never made me jump through a lot of hoops, and they are a US company. I was last with Lloyds of London - never again. I pay over $10,000/year with Markel, but I'm in a whole different category than all of you, unfortunately.
We use Farm Family which operates in a few states around her but I don't know if they extend to you. You might check it out - in many states the Farm Bureau will write B&B policies. We used to have Old Line thru Seaman-Leavitt, and James Wolf has given us quotes but has always been the most expensive option.
We use James Wolf, always have. They are one of very few that will write policies in our area. Had one claim after Katrina...they were quick and very fair, just remember that J. Wolf is a broker. The actual policy (policies) may be covered under different companies so J. Wolf will scout different companies to find the best overall deal for you in your area. Edited to add - the best deal they can get for you.
As with anything cost is not the only factor to consider. MOST IMPORTANTLY read the Fine print to know what is REALLY covered before you sign. We all pray that we will never need to use our insurance, but when it does happen it is nice to know that you really were COVERED. Believe me, there are rip offs out there - I could start with the 1000's of stories I know of by friends in this area. So as I said - read before you sign.
I was with Wolf for our first year of business. Switched to Fremont (a Michigan company) with slightly better coverage at half the cost with a local agent.
I swtiched from Wolf to a CYA coverage (and that is all it is) when my rate for the year went to over $2500 - for 3 guestrooms with (at the time) 1 bathroom upstairs and owners bath downstairs, and 1 small shed - no garage on the property which is a city corner lot. All the knob & tube wiring had been removed at their insistance the year before - so the wiring was new and we are not in even the 500-year flood plain.
I still pay about $1600 per year but it is not the coverage I would have if i had a future (we are both old enough that our future is Ga-Ga or roast & toast). I do not have the lost rev and many of the things a B & B would normally have. So when you look at policies - look hard at what all it covers because the years of the $2500 insurance bill I had 2 other insurance guys look at it to see what they could do and they BOTH told me pay them and say thank you. (I would have if I had that much money. I did a "settle")
Forgot to say that in addition to my commercial insurance through Markel, I carry personal homeowners for our own area and that runs about $1,200 per year. Markel would have charged more without that & it's through USAA which gives me many perks. I also do not have any vehicles covered under the B&B insurance. We have 2 historic homes.

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