Landscape Business Insurance To Protect Your Growing Business
You’re always thinking about your clients yards, doing your best to make their home and business landscape look awesome. You do your best to take care of your clients needs and wants and to protect them and their property.
Isn’t it time you take the steps necessary to protect your business as well? Have you found a great business insurance plan that gives your landscape business the insurance coverage it deserves?
At Safe Street Insurance, we’re here to help you do that. You deserve the best coverage at an awesome rate. We work with the top insurance companies in the landscape business world to get you the best coverage available. The best part is that we can help you do this quickly and easily.
Keep in mind, in the landscaping business, anything can occur. You don’t want an accident to occur and be faced with having no insurance. Take 10 minutes today to discover a plan that covers you.
Types of Business Insurance Policies Available for Landscapers:
- General Liability Insurance
- Workers Compensation Insurance
- Business Auto Insurance
- Inland Marine Exposure
Why You Need Business Insurance:
- Protections from potential lawsuits
- Employees who get injured on the job
- Sometimes the words “Licensed, Bonded & Insured” are music to potential clients ears
- In many cases it’s legally required
What Type of Insurance is Best for My Lawn Care Business?
Let’s go through some important coverage to have on your business insurance plan and briefly break down each coverage. You may not need to completely understand each coverage but it’s important to at least understand the importance of each coverage.
Commercial General Liability Insurance
The primary sort of inclusion you may require is business general liability insurance (CGL). It can protect your business from costs related with third party accidents or property damage, like damage to a clients hardscaping, breaking sprinkler lines, landscape equipment, etc. Also, a CGL policy can likewise assist you with covering lost capital if there’s harm to your organization’s reputation.
In certain states, you might be needed to purchase business general liability insurance before working with clients. Check your state’s laws first, obviously. Either way, it’s a good idea to have this protection in place!
Without protection, you might be liable to pay for costs related with third party property damage; and we’re not talking small numbers! The average small business property claim is around $32,000!
Let’s Give An Example-
You’re working on a clients yard and trimming some trees and a branch breaks and smashes into the house causing the stucco to be damaged and broken windows.
You’ll be responsible for the damage to the house and window. Without insurance coverage you’ll be on the hook for the cost of all these repairs. This is what landscape business insurance is for and can help protect you from honest mistakes that you are held liable for.
General Liability Insurance Typically Covers:
- Bodily injury to someone else
- Third Party Property Damage
- Personal and Advertising Injury
- Medical Expenses
- Many Other Things
Things Not Normally Covered:
- Damage to your own property
- Professional Services
- Workers compensation or injury to your employees
- Harm to your work
- Vehicles while in business use
- Expected or intentional injury or damage
- More (Check your policy for specific exclusions)
Workers Compensation Insurance
If you have employees then you need workers compensation insurance! In many states, including Arizona, once you hire your first employee you need workers compensation.
Even if it’s not required by law, it’s something you should want to get. In the landscaping business, there are many ways and opportunities for your workers to get injured on the job! The average payout for a claim for small business is $39,000! This is definitely something that you don’t want to be on the hook for. Can you imagine having to pay this out of pocket?
Workers compensation is intended to protect you and also your employees. It can help cover trips to the emergency room, hospital & medical expenses, prescriptions, and more. It can even help cover lost wages if your employee has to stay home from work to recuperate.
Things generally covered by workers compensation:
- Lost wages during an employees downtime
- Recuperation Expenses
- Medical Payments
- Death Benefits
Workers compensation generally does not cover:
- Vendor or Client Accidents
- OSHA fines
- Wages for a laborer who replaces the harmed worker
Business Vehicle Insurance
Your truck is the lifeline of your landscaping business. It’s how you travel between jobs and it’s how you carry all your equipment. If you are in your truck and doing anything job related then your business is at risk. Commercial vehicle insurance is essential to correctly cover your business. Your landscape truck should not be covered on a personal policy. If you’re truck is covered on a personal policy and something work related happens, you may find yourself in a bind with no coverage. Don’t leave yourself on the hook for large claims!
Hired & Non-Owned Auto Insurance
If your employees drive their own trucks or a rented truck for something work related, you’ll want hired and non-owned auto coverage in the case there is an accident. This coverage can help provide liability coverage for injuries or property damage that your employees cause while using their personal vehicle or rented vehicle for business purposes.
If you often rent trucks for big landscape jobs then this is a coverage you’ll want to have.
Inland Marine Exposure
This is a coverage that many landscapers don’t consider and that many “cookie-cutter” policies wont offer. This coverage could include:
- Accounts receivable if you offer credit to your customers
- Contractors’ equipment such as lawn mowers, trenchers, sprayers
- Goods in transit such as trees and shrubs or pavers and bricks
Don’t leave yourself on the hook for these expensive parts of your business. Make sure you’re covered!
Business Owners Policies
Most smaller landscape companies can get the majority of these coverages in one simple policy, often referred to as a “Business Owners Policy” or BOP. These give general, overall coverage and then allow for endorsements specific to your needs and industry. If your business is larger than $5 million or is very complex then you would need something more complex than a simple BOP.
Why You Need Landscape Business Insurance
Your business is your baby! You work everyday to make it successful and to build something you can be proud of. Why would you put all that in jeopardy and lose everything you’ve built?
You may think you can’t afford landscape business insurance or that it’s just too expensive; especially if you’re just starting out. Think of the things we’ve outlined though and how much a claim would end up costing you if you don’t have insurance. Even though it may seem expensive, you can’t afford to NOT have business insurance.
With Safe Street Insurance, we make it extremely easy to get the right insurance for your specific needs. We are the experts in insurance and understand your landscape business.
Many companies offer cookie cutter, non customizable business insurance plans. These may be easy and cheap, but they won’t be there for you when need the coverage. Make sure to seek out a policy made specifically for landscapers.
Did you realize landscaping businesses regularly get sued as well? About 43% of small businesses state they’ve been associated with a claim or threatened with one. Regardless of whether you’ve done nothing incorrectly, you’ll actually need to pay lawful expenses to ensure yourself.
Get More Business
Licensed, bonded and insured are what your potential clients want to hear! Once you’re properly insured you’ll be able to provide proof of insurance to all clients and give them the piece of mind they need to hire you.
We’ll always be around to get you Certificates of Insurance (COI’s) anytime your clients request it.
-Is business Insurance Premium Tax Deductible?
Yes, in most cases, if your business is for-profit, business expenses, including business insurance can be deducted from your taxes.
-How much insurance coverage do I need?
There is not a one size fits all for every business. This is why you need a customized insurance plan, from a company that understands your landscaping business. Some factors that affect how much coverage you need are:
- How big your business is
- Your Payroll
- Your Annual Revenue
- The work you’re doing (residential vs. commercial)
- Type of work (pavers, vs lawns, vs hardscape, vs tree trimming
-How much does business insurance cost? This depends on a number of different factors including the payroll, the services you offer and how well you want to be protected. At Safe Street Insurance we work with many different companies and are always able to find an affordable rate for you.