Winter is the time of the year that most landscapers take off, at least physically anyway. In this so-called “off season,’ while sifting through all of the paperwork, contacting all of the previous years’ clients and employees, and checking out your equipment, you also need to spend some time examining your insurance policies.
Do you have the right ones in place? Before you start up the first lawnmower of the season, make sure that you have the correct insurance policies with the right coverage amounts. Here are some suggestions to keep in mind.
Standard Policies Every Landscaper Should Have
No matter the size of your operation, there are some crucial insurance policies that your business needs to have in place. These policies include:
A Business Owners’ Policy – Also called a BOP for short, these policies consist of a bundle of important insurance plans, like commercial property and general liability. There are others that may be included in a BOP, depending on the coverage that your company needs.
General Liability – These policies are available as part of a BOP or on their own. Either way, this crucial insurance policy covers your business should something go wrong in the course of the workday, such as damaging a customer’s sprinkler system with your lawnmower.
Commercial Property Insurance – Whether you store your business tools in a shed in your backyard or an entire warehouse, you need to ensure that the space, as well as all of your equipment, is properly insured. A commercial property insurance plan will provide enough protection.
Workers’ Compensation Insurance – If you hire employees to manage your landscaping clients, you need to provide them with insurance coverage as well. A workers’ compensation insurance plan will pay for medical expenses and lost wages from an on-the-job injury.
Commercial Auto Insurance – Landscaping equipment is often carried in the back of a pickup truck or in a separate towed trailer. You’ll need to make sure that you have commercial auto insurance on those trucks and trailers should something happen while on the road.
Additional Coverage to Consider
On top of the standard insurance policies that your landscaping business should have in place, there are some additional options that may apply. These consist of:
Equipment Breakdown Insurance – This policy provides coverage for the equipment that your company uses daily should it break down.
Commercial Umbrella Insurance – Umbrella policies have higher coverage limits than standard general liability ones, so they kick in to cover any gaps.
Professional Liability Insurance – If your landscaping company does any design work, you’ll need a professional liability policy should something go awry.
Pollution or Environmental Liability Insurance – Incidents with pesticides and other environmental hazards are covered by your pollution or environmental liability insurance policies.
Do You Need Insurance for Your Landscaping Company?
If you have any questions regarding insurance policies for your landscaping business, simply reach out to Spivey Insurance. Our insurance agents are highly informed and can help you find the best plans and coverages for your company’s unique needs.