In case you happen to be the owner of a lawn care company or are contemplating on starting one, some fundamental insurance coverage will be required by you for guarding against any unintentional mistakes, property damage, as well as lawsuits. Lawn care company insurance will provide your customers with total peace of mind and they can rest assured that they are going to be reimbursed in case your company causes any damage to their property or in case they do feel that you have taken advantage of them in an unfair manner.
It is very important to safeguard your business as well as your assets. On some occasions, in case you happen to be the sole proprietor of the company, you can be held responsible for any damage or loss in case you are not insured which might even result in losing your personal property including your house too.
You’ll come across different types of insurances which will be available to you being a lawn care business owner, and below, we have mentioned several of those.
Workers compensation, which is required by the majority of the states, is going to safeguard your workers in case of any injury or accident which is related to the work. It is going to pay for medical expenses, rehabilitation costs, as well as lost wages. On the contrary, it will likewise safeguard the employers from any lawsuit because of intentional negligence.
At present, you’ll come across many lawn care companies which are having property insurance. This particular insurance is going to pay for replacing your property in the event of a natural calamity, criminal offense, or any other event beyond your control that has resulted in a loss.
General liability is deemed to be amongst the most essential policies for lawn care business insurance right now. It is going to safeguard you from different risks including property damage, physical injuries, advertising or personal claims, as well as misleading or fake advertisements such as slander, copyright infringement, or libel.
A commercial auto policy will help to safeguard you from any expensive liability in case any accident takes place while performing the work. In case you use any automobile for business purposes, commercial auto insurance policy will be required by your company.
Employers Practices Liability insurance (EPLI) happens to be a special type of insurance policy which will provide coverage for any employment-related charge such as infringement of contract, harassment, unlawful termination, retaliation, discrimination, and any other work-related problem.
Business umbrella liability
The main intention of this type of insurance will be to extend your insurance coverage once your policy limits have been attained. This type of insurance will add an additional layer of security in case your policy reaches the optimum declared coverage and is able to extend coverage on more than one policy at the same time.
Is lawn care insurance imperative by law?
This will depend on the state where you’re operating your business given that certain insurance coverage is dependent on the particular state. For instance, commercial auto insurance will be required in every state so long as you are operating vehicles for transporting your equipment or goods.
On the other hand, in case there are employees who are working on behalf of the company, most of the states will require the worker’s compensation although the coverage might be optional for those who do not have more than one employee in their business.
Make it a point to talk to your insurance agent regarding what types of insurance will be required by you being a responsible and reliable lawn care company. Despite the fact that the specifications are going to depend on a particular location where you are running the business, you’ll come across some policies that, although not required by law, will be providing your business with some additional protection, for example, general liability insurance.
There is no doubt about the fact that it is quite challenging to operate a business at present and having proper insurance will provide you with complete peace of mind which will allow you to focus on other essential aspects pertaining to your business. Moreover, make it a point to be aware of the insurance coverage regulations in your state since it is going to vary from one state to another.