Each landscape company brings to the table unique features. So if you’re in the business, it’s important to know enough about the insurance process and to get the right type of coverage for your business.
In the insurance world, basic lawn care refers to activities such as:
If the company serves only commercial customers, usually the customers already have a contract that involves insurance with typical limits of $2 million per life of policy (most likely one year) and $1 million per individual claim.
When it comes to residential customers, the limits of a General Liability Insurance (known also as “slip and fall” coverage) are around $600,000 per policy life and $300,000 per claim.
This insurance will cover property damage and even injuries. Let’s take an example. A landscaper destroys a customer’s sprinklers and the landscaping company gets sued. The General Liability policy will cover all the costs related to the lawsuit, including the replacement costs.
However, some landscaping companies provide additional services apart from the regular ones. Let’s say you spray fertilizers or pesticides. They get classified as ‘landscaping’ activities if you use over-the-counter products.
Make sure you mention the substances you’re using before closing the deal and getting the insurance policy. Some insurance carries don’t cover landscaping companies that use very strong products.
Also, for example snow removal or excavation works are regarded to be additional and not basic. In all of these cases there will be a different classification of the company, but the same General Liability needs.
It’s just important to talk about all the services you provide with the insurance agent in order to be properly covered at any given time. The second thing to keep in mind is to go for an agent that has a deep understanding of the landscaping business.
An experienced one will know how to advise you in getting proper coverage and a minimum premium. You can rest assured that there won’t be any gaps that will lead to extra costs and that you won’t waste money on coverage you will never need.
Getting the right insurance is a process that shouldn’t be rushed. Don’t be quick in signing a deal.
Taking your time to find a qualified insurance agent and the adequate carrier will certainly pay off. They will analyze your business correctly and you’ll be insured accordingly. Landscapers that have a business office or workshop will often need to get a Property General Liability Insurance Policy.
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