Summer can be a great time for a landscaping or lawn care business, and that also means it’s an important season for reviewing the insurance coverage for your lawn care or landscaping business.
Whether you’re just starting a new venture, or your existing landscaping or lawn care business is kicking into high gear, understanding your risks and what the proper coverages are for protecting your assets is key in assisting your success. An important second step would be keeping your lawn care or landscaping insurance commensurate with your growth; new opportunities are exciting, and you may be tempted to think that if you have the time, tools, and manpower, you’re ready for expansion…but covering your risks before an event happens is what keeps your business functioning in case of a claim against you. Don’t let your insurance lapse or lag behind your operations.
Speaking with an experienced insurance professional who understands your business’s needs is crucial, and it’s also imperative that you answer any questions–truthfully–about what you do or don’t do in your lawn care or landscaping business, so that your insurance can truly protect you.
Having a working knowledge of some types of insurance policies that are commonly needed in landscaping or lawn care businesses might help you understand your insurance agent’s questions, and may also assist you in taking a proactive role in guiding your business’s future.
- General Liability. This policy protects you in case of an event that could cause a third party injuries or damages. The most basic landscaping or lawn care insurance policy should contain General Liability.
- Property Insurance. Your building (if you have one), your business equipment–these need to be protected, and included in your landscaping or lawn care insurance.
- Inland Marine. An endorsement to your landscaping or lawn care insurance that covers the tools that make your business possible. This coverage can be crucial to keeping your business going in case they’re damaged or stolen.
- Workers Compensation. You need to understand your obligations towards employees, even if your only worker is a friend who helps you part time. Familiarize yourself with your state’s requirements and make sure your landscaping or lawn care insurance is providing what you need in this area.
A landscaping or lawn care business can be an incredibly profitable and flexible venture…but if it isn’t properly insured, not only do you risk losing that versatile and potentially lucrative enterprise, you put your personal assets in jeopardy and run the risk of going into debt if you have a claim made against you. (Remember that claims don’t have to be valid to need defense and court costs aren’t usually cheap.)
Risk management is an art, and our business is helping you protect your business–right now, and as it grows. Call us today at 1-877-907-5267 to speak with one of our specialists about your lawn care or landscaping insurance, or click here to start the process of a quick, free, competitive quote.