Depending on your specific needs, there may be different policies for your landscaping business. However, below are the main policies you may want to consider for landscaping insurance coverage:
Commercial general liability (CGL) insurance — covers your landscaping business from costs resulting from third-party accidents, property damage, bodily injury, lawsuits alleging damage, and more.
If you don’t have general liability insurance, you risk being responsible for any costs that come with running a landscaping business. With the average costs of reputational damage being upwards of $50,000, small businesses can’t afford to be insured.
To put this in perspective, let’s say a customer trips over a leaf blower left out in their yard while wrapping up a landscaping project. The customer is injured and irate, and they sue you for their injuries. As a result, the medical bills and court fees result in thousands of dollars. What do you do in this situation?
So what could your general liability insurance policy cover? Here’s a quick summary:
A) Bodily injury to another person
B) Third-party property damage
C) Personal and advertising injury
D) Medical expenses
But what about the things general liability insurance doesn’t cover?
A) Damage to your own property
B) Professional services
C) Workers compensation or injury to your employees
D) Damage to your work
E) Motor vehicles while in business use
F) Intentional injury or damage
Also, it’s essential to ensure your equipment is covered if something is stolen or damaged. Some general liability insurance policies include some contents coverage, which is the insurance that protects you in case your tools are damaged or stolen.
From lawn mowers and weed whackers to shovels, rakes, and trowels, you likely work with many different tools and machines at any given time as a landscaper. In most states, you’re legally required to carry workers’ compensation insurance.
Accidents happen, so it’s essential to have the proper coverage to protect yourself and your employees.
For example, what if an employee were to drop a heavy shovel and break their foot? Or if an employee is injured while using lawn shears? Talk about some hefty medical bills! Your workers’ compensation policy will not only cover your employee’s medical bills, but it can cover other related expenses, such as time missed from work and rehabilitation expenses.
It’s imperative that landscapers have adequate workers’ compensation insurance. Accidents can happen even if we think we’re being as careful as possible. For example, the Centers for Disease Control and Prevention reported that in 2017 more than 229,000 workplace injuries due to contact with objects and equipment were so severe that they resulted in time away from work. What’s more, the cost of work injuries in the U.S. that same year was $161.5 billion. That’s not a typo.
Workers compensation insurance for landscapers can cover:
A) Medical payments
B) Lost wages
C) Rehabilitation expenses
D) Death benefits
Other insurance that may be needed for your landscape business
A) Commercial auto insurance
B) Contractor’s tools and equipment insurance
C) Property Coverage
D) Inland Marine Coverage
E) Umbrella Coverage
There’s no question that running a landscaping business is costly, especially if you’re in the early stages and purchasing equipment, vehicles, marketing, etc. However, adding insurance costs to the equation can seem daunting.
The truth is that the cost of landscaping insurance is a fraction compared to what you’ll spend if you get sued by a customer, or an employee gets injured on the job. Plus, if insurance coverage is legally required in your state, the repercussions of not having a policy could be major.
With landscaping insurance, not only do you have peace of mind knowing that you and your family are covered, but you know your employees and customers are taken care of, too. Insured small businesses are more legitimate to customers than those without insurance. A current landscaping insurance policy is a vote of confidence that’s great for business.
Contact us to learn more about how we can keep your landscape business protected.