Accidents at your lawn care business are bound to happen sometime. Whether a customer or employee is injured or your equipment is damaged, make sure you’re ready with quality insurance policies and coverages that fit your unique business.
Why is insurance so important for lawn care businesses?
If you’re a business owner, you have enough things to worry about. Don’t let the risks and ‘what ifs’ of insurance coverage be one of them. It’s also a general practice for customers to request proof of insurance before hiring a contractor. If you have the right coverage in place, you are less likely to be passed over by a prospective customer.
How much does lawn care business insurance cost?
Commercial insurance varies from business to business. Here are just a few factors that affect the cost of your insurance premium:
Location
Different states have different laws regarding business insurance, and rates fluctuate based on where your business is located. A business located on a main street in a highly populated busy city will likely require more driving around for its customers spread across the city and suburbs. The rates for this kind of business will likely be higher compared to the same type of business located in a small town where less driving is necessary.
Prior claims
Unfortunately, a long history of prior claims could be a big red flag for insurers, but that shouldn’t prevent you from purchasing the right lawn care business insurance coverage. Regardless, insurers will charge a higher rate if your business has multiple lawsuits or if it was involved in various workplace accidents.
What types of lawn care business insurance coverages are there?
We know insuring your business is important, but what are the best policies to purchase? Here are just a few of the many policies Integrity Insurance offers:
BOP
Business owner policies combine general liability insurance and property insurance. This is a standard policy but an essential one, nonetheless. The majority of property damage your business encounters – excluding natural disasters which has its own coverage – is addressed in the property aspect of the BOP policy. So, if your lawn care business office is broken into, the cost of damages may be covered under your BOP property insurance.
The second part of the policy contains general liability coverage. It offers you protection for the costs incurred when a third party sustains bodily injury, suffers property damage or sustains personal and advertising injuries. For example, a BOP may cover the costs of a customer who claims damages and expenses from a slip and fall accident on your property.
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Commercial liability
This policy also covers certain property damage and bodily injuries for which your business may be liable. This includes both bodily injury and property damage. For example, a lawn care worker is mowing a customer’s lawn, the mower hits a rock that is thrown out of the other side of the lawn mower which hits the customer’s expensive foreign race car, breaking their window in the process. If you have commercial liability insurance, the expenses for repairing the customer's car window will be paid by the insurance policy.
Commercial umbrella
Umbrella coverage is an extra layer of protection, hence the name. It is triggered when you reach your initial liability insurance limit. In other words, it’s like an extension you only use when needed.
Going back to our broken windshield scenario, the customer decides to sue you for the emotional toll the situation put them through. If they sue you for $350,000 but your liability coverage only extends to $300,000, umbrella coverage could cover the extra $50,000.
Cyber
In this day and age, cyberattacks happen often – roughly 2,200 per day. Having the proper insurance in the event of a cyberattack is just as important as any other insurance policy. For instance, an employee is going through emails and clicks on a link saying they just won a brand new car. Unfortunately, opening the link led to the network receiving a virus, compromising all of the company’s data. Recovering the cost of compromised data is much easier when you have cyber coverage.
All of that said, it’s understandable if you have more questions. Your local, experienced Integrity agent is more than happy to walk you through the process of insuring the lawn care business you worked so hard to build. Find an agent near you to customize your insurance coverage today.
Coverages described herein may not be available in all states. Please contact one of our local independent agents for complete details on coverages and discounts. If the policy coverage descriptions herein conflict with the language in the policy, the language in the policy applies. The material provided above is for informational, educational and/or suggestion purposes only, and does not imply coverage. WE RESERVE THE RIGHT TO REFUSE TO QUOTE ANY INDIVIDUAL PREMIUM RATE FOR THE INSURANCE HEREIN ADVERTISED. Applicable policies may be underwritten by Grange Insurance Company, Trustgard Insurance Company, Grange Indemnity Insurance Company, Grange Insurance Company of Michigan* and Grange Property & Casualty Insurance Company*, Integrity Insurance Company*, Integrity Property & Casualty Insurance Company*, Integrity Select Insurance Company*. *Not licensed in Pennsylvania
Sources:
Norton