Insurance Xdate > Reports > WV > Lj Homes
Commercial Insurance Overview
Lj Homes is based in Berkeley county in West Virginia. They operate in the Retail industry, specifically in Eating Places, which is a low risk industry. It is worth putting effort into risk management to be able to leave the Assigned Risk pool.
Having been with their current carrier for only one year, they are either a new company, or a new listing in our database. We have coverage data for them in a single state.
The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 1.800. A 1.800 LCM overall is a bit high, but check the market comparison below for more details.
Premium Comparison
This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Lj Homes. This can give you an idea of what carriers might best fit your business.
$3.49$0.75
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$1.37 4513 Businesses 3576 | ||
$2.38 11% 2659 Businesses 2053 | ||
$1.99 1114 Businesses 411 | ||
$1.71 119% 823 Businesses 295 | ||
$1.39 28% 792 Businesses 692 | ||
$1.45 26% 688 Businesses 540 | ||
$1.60 602 Businesses | ||
$1.40 349 Businesses | ||
$1.32 22% 336 Businesses 209 | ||
$1.55 287 Businesses |
Market Comparison for Lj Homes
For the Agent
These are points that might help guide an agent as they look to approach a prospect.
- A break in policy terms may indicate inconsistent work load which can result in substandard employment.
LCM Rate
LCMs have the largest effect on your WC costs. Carriers file LCM's which are multiplied with the state approved Loss Costs for your employment classifications to create your policy rates. Carrier Groups have several Carrier Tier's each with their own filing, allowing their underwriters to price aggressively to overly prudent depending on the risk.
- The LCM of the Current Carrier is Higher than 81% of peers.
- Shopping around for a carrier that would provide a more competitive tier would make sense.
Market Competitiveness
We measure relative change (when a business chooses a different WC provider), and market share distribution over a rolling 24 months as compared to it's industry and state level activity to determine how competitive carriers are for your class of business.
- 7% of peers have changed carriers since last year.
- Current Carrier's market share is in the 75th percentile at 2.3% of the market.
Business Owners
- We don't sell insurance. Our market intelligence allows us to find the ideal commercial insurance partner.
- Try our 100% free premium estimate tool to compare coverage options.
- Get a Quote from a real agent, guided by our market insights.
Agents
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Carriers & Underwriters
Our data provides an unparalleled view into the commercial insurance market across the US. Examples include:
- Competitive Account Won/Loss
- Competitive Class distribution
- Appetite Analysis
- Market Share Analysis