If you take $2500 (cost of ins) and add that to the cost of a deductiable ($2,000) that is $4,500
Now you have to know that 200 inspections is by and far the minimum that any of us should be doing/yr. (only $60,000 by golly). Anyway $4500/200= $22.50/ inspection.
This is while you are figuring in for the customers to eventually pay your deductible (if, and only if, you need it).
Most of us are doing in the neighborhood of 300-340 inspection/ yr.
That translates out to $15.00/ inpsection to $13.24/ inspection.
Even doing 100 inspections/ year ( x $300.00 ea = $30,000/yr) translates only to $45.00 each.
So in essence, if you get no claims filed against you (havent for the last 8 years) then the extra change of $15.00 to $13.24 goes into the bottom line. Actually it should be deposited into a separate account.
A hundred dollars per inspection increase!!! get real. Ainna-goinna happun.
I did this pier and beam today in the older more affulent area of Dallas. The lady wanted to know how much she should write the check for, she stated; "Should it be for $300.00 or $400.0 or $500.00"
I looked at the agent, and said I think I will take what is behind door#3
I just think that telling everyone you are raising your rates is bad business. Let them come to you becuase of what a bang-up job you did for them or their friends/neighbors. Theyll just pay whatever invoice you put in front of them.
Rich