Running a landscaping business can be both fulfilling and profitable. However, it also comes with its fair share of challenges. The CDC rates landscaping as one of the highest-hazard industries in the service sector. Common dangers include falls when pruning or trimming trees, accidents involving the handling of dangerous pesticides, and injuries arising from contact with heavy objects and equipment. Theft is also a common problem as landscaping equipment is valuable and can be resold at a good price.
Landscaper business insurance doesn’t eliminate all threats and risks. However, it does offer the financial and practical support you need to cover unforeseen costs. Read on to find out what it does (and doesn’t cover) and to get to know some of the most common policy options.
What Does Landscaping Business Insurance Cover?
Landscaper business insurance provides coverage for accidents, income loss, theft, damage to tools and machinery, theft, and legal disputes. It’s not a single policy but rather a collection of policies that covers different situations and scenarios. However, you can bundle several of these policies into a business owner’s policy to save money and hassle. A business owner’s insurance policy offers general liability insurance, commercial property insurance, and business interruption insurance. Companies can personalize your bundle to provide you with the exact coverage you need for your current situation.
General liability coverage protects your business if a third party is injured or a client’s property incurs damage during the course of your work. For example, if a lawnmower hits a pebble and launches it at a window, pet, or your client, general liability coverage will pay for the damage and medical bills. However, it doesn’t cover injuries you or your workers may incur. You would need worker’s compensation insurance to cover an employee’s medical bills in the event of an on-the-job accident. You may also want to add herbicide and pesticide application insurance to this policy. It specifically covers damage and injury that may occur after you spray herbicides or pesticides on a client’s plants or garden. For example, if a client asks you to spray pesticide on some plants and the client and his/her pets have a bad reaction to the pesticide, herbicide and pesticide application insurance covers any resulting claims. It can also cover similar claims from neighbors and your own workers.
Inland marine insurance is tailored to provide compensation for covered losses of mobile tools and equipment that frequently move between different locations. This coverage is designed to protect items in transit or those with a mobile nature, filling the gap left by traditional insurance policies. To enhance your coverage for landscaping tools and equipment, consider adding an inland marine policy. This ensures comprehensive protection for your mobile assets, addressing the specific needs of tools that regularly change locations. Additionally, if your current insurance lacks coverage for natural disasters common in your region, explore the option of adding specific coverage, such as earthquake, flood, and hurricane insurance, to ensure comprehensive protection for your business assets.
Business interruption insurance provides compensation if a natural disaster or some other unexpected event makes it impossible for you to do your job business as usual. It covers salaries, lost income, and other expenses while you work to get back on your feet. It can also make up for a partial loss of income if you’re only able to do some of your regular work. For example, if a fire has destroyed some of your equipment, and you have to turn down certain jobs, business interruption insurance can make up the difference in your income even if you’re able to do some of your regular landscaping jobs. The amount of coverage provided is based on records of regular monthly income and expenses.
Workers’ compensation is crucial for landscaping businesses, offering essential protection for both employers and employees. In the physically demanding landscape industry, employees face potential hazards and injuries. This insurance provides financial coverage for medical expenses, rehabilitation, and lost wages in the event of workplace accidents. Beyond safeguarding employees, it shields businesses from legal liabilities, demonstrating a commitment to a safe work environment. Prioritizing workers’ compensation not only ensures the well-being of the workforce but also contributes to the overall success and sustainability of the landscaping business.
These are by no means the only forms of coverage you’ll need for your landscaping business. Commercial auto insurance, which is required by law, covers damage to another vehicle if you are responsible for a vehicular accident. You may need a surety bond to provide compensation for claims related to unfinished or improperly finished work. As an added benefit, a bond opens up opportunities for you to take on work that landscapers without a surety bond cannot accept. Errors and omissions insurance, while not required by law, is also helpful. It covers claims related to mistakes that you or one of your employees may make or be accused of making while on the job.
If you’re not sure which insurance options are right for you, Grand Mutual Insurance Services can help you get to know different policies and create an ideal policy package. Get in touch with us to learn more about our insurance policy options or to start the process of creating a policy that provides the coverage you need to safely grow your business.
Have questions? Our team at GMIS is here to help.
At Grand Mutual Insurance Services, we are committed to providing you with the most up to date information and guidance on the insurance market in California. Your peace of mind is our top priority. We understand the importance of reliable insurance protection and are here to support you through these challenging times.
As always, if you have any questions or concerns, please do not hesitate to reach out to our team. We are always happy to hear from you and assist you in any way we can.
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