If you own a landscaping business or you are setting up a new company, buying landscaping insurance is one of the most significant tasks you need to undertake. Because of the liabilities you face, the expense of the equipment you use, and the employee in your charge, buying the best landscaping coverage is essential.
Buying landscaping insurance can give your business protection against any financial losses that arise from any third-party claims for property damage or bodily injury. Workers' compensation coverage, inland marine insurance, equipment breakdown, and professional liability insurance for landscapers are all types of coverage you can buy or your business as well.
Here, we explain more about each type of insurance you can buy for your landscaping company.
Landscaping Business Owner Policy – BOP
If you want to find ways to save money on your insurance, buying a policy bundle such as this is a great way to do just that. Buying landscaping business insurance in this way gives you clear savings compared to buying these policies separately. It also makes it easier to manage as you deal with a single insurance provider.
The levels of coverage provided will vary from one landscaping insurance company to the next, but a standard business owner policy will usually include general liability and commercial property coverage. In some cases, you may also get business interruption coverage included, as well.
Landscaping Business Property Insurance
If you lease your premises, then you will still need to buy business property insurance for your landscaping business. In fact, most landlords will ask for this as part of any lease agreement. It provides insurance against a number of perils for your physical premises, and it also insures your equipment, office furnishings, and any inventory you may hold onsite as well.
Landscaping Liability Insurance
There are three main types of liability coverage to consider. Here is a quick overview of what they each do.
General Liability Coverage
This offers financial protection from any third-party liability claims for damage to property or personal injury.
Professional Liability Coverage
This offers financial protection should any of your professional landscaping services be considered to be negligent, sub-standard, or cause harm to a person or their property.
Employee Liability Coverage
If you work alone, this will not be needed. However, if you hire staff, it can provide you with financial protection in case an employee decides to take legal action against you.
Inland Marine Insurance for your Landscaping Equipment
Inland marine insurance offers essential protection for your landscaping equipment, regardless of the location of that equipment. So, if you need to transport or store your equipment somewhere other than your business premises, it provides coverage from fire, theft, breakage, water damage, vandalism, and damage caused by others. This will cover any equipment you own or lease.
Landscaping Equipment Breakdown Insurance
Could your business operate if your main equipment was to breakdown? For most landscapers, they depend on essential pieces of equipment to be in working order. If your machinery breaks, it can impact your reputation and your income. Buying landscaping equipment breakdown insurance gives you coverage for any damage done by internal forces, such as:
If your equipment is no longer under warranty, then this landscapers insurance is definitely worth considering.
The type of landscaping insurance you buy, along with the levels of coverage you select, both impact the final cost of insuring your landscaping company. The size and location of your business, the value of your equipment, the number of staff and vehicles you have, along with the specific type of work you do will all contribute to the cost of your coverage.
If you want a quote for landscaping insurance, then speaking with a commercial insurance expert can give you a quick and easy route to getting a price for your complete coverage. It also comes with the added peace of mind that you are talking with an experienced landscaping insurance agent who understands your business and the risks that you face on a daily basis.