Most Common Insurance Coverages for Landscaping and Gardening Businesses

Why is insurance so important for landscaping businesses?

Like any business, the right coverage can save you in the long run. Unforeseen accidents or property damage happens more often than not on the job – roughly $340 million annually – and some can ruin the future of a company.

Not to mention, many customers request proof of insurance before hiring a contractor. You’re doing yourself and your employees a disservice by not protecting your business.

How much does landscaping insurance cost?

There are multiple factors that affect the cost and type of policy you should choose for your business.

Industry

The types of services a business provides has much to do with the cost of their premium. Meaning, a landscaping business pays more for the same coverage as an accounting firm. The riskier the industry, the higher the premium.

Services

The types of services your business offers can affect your rate as well. If you specialize in shorter, residential jobs, you have an increased auto exposure. For instance, your landscapers have several jobs in one day, so they may speed from location to location.

On the other hand, your business may take more complex, commercial jobs, which tend to be more complicated and have an increased exposure to the public and more complex jobs. For example, your landscapers are planting trees and dig a hole that they must leave overnight. Even if they secure the hole, the risks of someone falling in are still high. Insurance companies may see these risks as a risk for them as well. When the possibility of your business filing multiple claims is high, so are your insurance rates.

Size

If you own a bigger company with more employees, the risk of workplace accidents increases and requires more money to cover. For example, the insurance premium for a landscaping startup business with one employee and a few pieces of equipment may be quite different from the premium for a landscaping company with 15 employees and a warehouse of equipment.

These are just two examples of the many insurance cost factors. Fortunately, there are just as many ways to lower these costs too. Get the right landscaping insurance coverage for the best price by talking to your Zeiler Insurance agent today.

What types of landscaping insurance policies are there?

There are many different policies to choose from. Here are just a few of the many policies:

BOP

A business owners policy groups both general liability and property insurance into one policy. The general liability part of the policy addresses the financial cost if your business is responsible for acts involving bodily injury, property damage and personal and advertising injuries. Property damage is a little more straightforward, covering damage to your property.

Inland marine

Don’t let the name confuse you, we aren’t talking about boats. Inland marine coverage refers to anything transportable, whether that’s material, equipment, parts and more. This coverage protects your business property when it’s in transit or stored at a site other than your main business location.

For example, a landscaper has a mulching job across town. They’re driving down the highway and see their mulching equipment fall off the truck, severely damaging it. This situation may be covered by the landscaping business’s inland marine insurance coverage.

Commercial auto

This policy covers the damage of any company vehicles including the expenses incurred as a result of an accident. It’s important to note that many businesses let employees use their personal vehicle for job tasks. This may be more convenient for the business at the time, but many personal auto insurers won’t cover accidents if employees use their personal vehicle for business.

Going back to our landscaper scenario, the landscaper bumps into the back of another car during a trip from the warehouse to the customer’s house. Fortunately, this minor accident would be addressed by commercial auto insurance.

Workers’ compensation

You’ve probably heard this policy referred to as workers’ comp. It covers the medical expenses and subsequent lost wages incurred by an employee due to a workplace injury while the employee recovers. Workers’ comp is a win-win for both the employee and the business because it gives comfort to the employee and prevents potential lawsuits for the business.

The landscaper arrives back at the warehouse and is cleaning out the truck of any excess mulch when they slip and fall. Since it’s a workplace injury, they can file for workers comp to cover their doctor’s office visit and any other bills related to the injury.

There’s even more information to consider during your business insurance journey. We are more than happy to help you through your landscaping insurance buying process. Call your agent today to discuss your options and ways to save money on your customized insurance portfolio.

Dan Zeiler

dan@zeiler.com

877-597-5900 x134