As a landscaping professional, you've invested a lot of time, sweat, energy, and money to build your business. That's what it's important to have an insurance program that protects you from financial disasters that cannot just set you back, but potentially put you out of business.
Your clients require specialized services, so you have money invested in equipment, tools, and chemicals. You may also need a business locations to run your operation and store your equipment, even if it is at your house. Note: Your home insurance will not cover any commercial liability or equipment used in a business.
A comprehensive program should protect your tools and equipment so you can keep working. You should also consider investing in liability coverage in case of any accusations or causing property damage or injury to another.
What every Landscaper needs in a comprehensive insurance policy:
Inland Marine Coverage
You buy the right tools to do the job right, and if your equipment is damaged or destroyed, you're not only out of a job, you may be out of business. Since your equipment goes where you go, you need Inland Marine insurance. It is a type of insurance that covers your equipment where the job takes you. Inland Marine policies can also provide coverage for tools and small items like shears, hedge trimmers, and other landscaping items under a lump sum limit called a blanket.
Even if you take care to work safely, your operation may cause injury or damage to others or their property. Your worker may accidentally cut down the wrong tree or break a window on a job. A mower blade could toss a stick or rock damaging an object, home or homeowner. As a result of such an incident, you may be held legally responsible for damages, medical bills, lost wages, pain and suffering as well as other expenses. Your landscaping insurance policy not only covers your tools and equipment, but can also investigate, defend and pay damages or injury for which your business has been found liable. This is critical as the cost of defense alone can bankrupt a business, not to mention a settlement for damages.
If you work with chemicals, you may need specialized coverage for the unique hazards they present.
Business Owners Policy
A package policy, such as a Business Owners Policy (BOP), combines the property and liability coverages you need in a single comprehensive policy. As a landscaper, your BOP can be tailored to meet your specific needs for business property, business personal property, and liability coverages.
It's important to have insurance that protects you and keeps your business going strong. Contact Modern Insurance Services for more information on setting up the right insurance program and coverages for your landscaping business.