If you’re starting a landscaping business, you might wonder what landscaper insurance coverage you need. In this article, you’ll learn about general liability insurance, worker’s compensation insurance, Umbrella Liability, and Surety bonds. In addition to general liability, it’s important to obtain coverage for any equipment you use and the materials you use to build your workspaces. These policies are important for several reasons, and they are a must for any landscaper’s insurance package.
General liability insurance
In addition to general liability insurance, landscaping businesses should also consider obtaining workers’ compensation insurance. These policies pay for medical costs and lost wages for injured employees. Most states also require landscapers to obtain workers’ compensation insurance. Workers’ compensation insurance is not only a requirement, but it is also a good idea. Not only does it protect landscapers, but it can help them avoid legal trouble. Also, if you hire employees, this policy will cover you and their wages.
Commercial auto insurance is another important type of insurance for landscapers. Commercial auto insurance protects the landscaper’s fleet of vehicles. It may cover dump trucks, pick-up trucks, utility trailers, and other vehicles that landscapers use to work. You may also want to consider a Business Owner’s Policy (BOP), which combines General Liability insurance with coverage for buildings and personal property. Commercial property insurance also protects your landscaping business’ employees.
Worker’s compensation insurance
Workers’ compensation insurance protects your company from the financial and legal risks associated with an employee’s accident. It can cover medical bills, lost wages, and legal fees due to a work-related injury. The premium for work comp depends on payroll, so the more employees you have, the higher your premium will be. If you are a landscaper and hire employees, ensure this insurance coverage.
While you may think that your employees are responsible for your company’s safety, it’s also important to protect them. In many states, workers’ compensation insurance is mandatory for landscapers. Landscapers have an increased risk of accidents in the workplace, and without adequate coverage, your employees can face financial hardship. In addition to workers’ compensation insurance, you should also obtain business auto insurance if you use a vehicle for your landscaping work.
Umbrella liability
If you run a landscaper business, you need more than liability coverage. You need the best comprehensive liability coverage possible for the type of work you do. You may need additional insurance coverage if you use your vehicle for work. Fortunately, several companies offer umbrella liability coverage for landscapers. Read on to learn about the options available to you. The following are some of the most common insurance options for landscapers.
Workers Compensation Insurance: Landscapers use various tools on a daily basis and are required to carry workers’ compensation insurance. This insurance will pay for medical bills, time missed from work, and rehabilitation costs if an employee is injured in the course of work. This type of coverage is essential for landscapers who are responsible for maintaining the yard. A comprehensive workers’ compensation policy will also protect the owner from lawsuits and legal expenses if an employee is injured.
Surety bond coverage
As a professional landscaper, you should be covered by surety bond coverage. Surety bonds protect your business and provide peace of mind to new clients. Depending on your business model, you may be required to obtain a certain amount of surety bonds. These are generally renewable, but they do not cover completed jobs. In addition, you cannot transfer the coverage from one principal to another. There are many types of surety bonds.
Choosing the right kind of insurance for your business is critical. Surety bonds protect your landscaping business by guaranteeing your customers and clients that you will pay them if something goes wrong. However, landscapers who move dirt and excavate will need more expensive coverage. A higher deductible can reduce your annual premium, but the business will have to pay more out-of-pocket costs in the event of a claim. For added protection, consider buying a business owner’s policy. This way, you can bundle your commercial property and general liability coverage for a lower rate. You may even want to bundle your landscaper insurance with business interruption coverage for a lower rate.
