Concklin has extensive experience with Landscapers insurance coverage. We represent top-rated carriers that offer policies and endorsements that are unique to the landscaping and lawn care business. We have the knowledge of this line of business to properly rate, class and know the importance of specifically scheduling tools and equipment in case of loss.
As a Landscaper, your tools are your business. They are the means by which you complete your craft, without them it would be impossible to deliver services. While some of the tools are easily replaced, others are expensive and need to be pre-ordered. Having a tool damaged or stolen can translate into a loss of revenue, not to mention the cost of having the tool repaired or replaced. Property Insurance covers the tools, equipment and other property that are at your company site, or being stored in an appointed location, but what about when you are at a client’s home, or in transit to a jobsite? Not all insurance covers these scenarios and it is important to review your policy or you could end up in dire straits.
Inland Marine Insurance is an important component to any Landscaper’s policy. It is similar to property insurance in that it protects your equipment and tools, but it extends to property in transit. Originally developed, and named, as an extension to Ocean Marine Insurance which covered cargo being shipped by sea, Inland Marine Insurance was meant to cover cargo which was being transported overland. The property being insured has since expanded to generally include property in transit, or which is often moved to different locations. It is easy to see how this type of insurance is beneficial to any landscaping company as it provides coverage for property, even at a client’s home.
Another insurance which may be overlooked is Commercial Auto Insurance. While you have personal Auto Insurance it may be necessary to expand this coverage into your business. Depending on your auto insurance policy you may not be covered if the vehicle is being used for commercial purposes, such as transporting workers or equipment to a jobsite. Investing in Commercial Auto Insurance could be a necessary step to protecting yourself and your business if an accident should occur while you are on the job.
Landscaper’s General Liability Insurance protects your business from property damage and personal injury lawsuits, as well as reputational injuries. Property damage could be anything from a tree branch breaking a window, to flooding caused by poor drainage, to dead plants – all of which could be very costly if you are held liable. Likewise, there are a wide range of scenarios which could lead to a personal injury lawsuit, such as a 3rd party tripping over a hose, or slipping on wet grass. Reputational Injuries are accusations of property damage or personal injury designed to harm the reputation of your company. This can lead to loss of revenue and clients. General Liability Insurance may cover you for this loss and potentially pay the expenses in a lawsuit. Likewise Completed Operations Insurance protects you from liabilities arising after a project is complete.
Similarly, employees may be injured while preforming their job and hold your company accountable for their treatment, medical bills, and loss of wages. Landscaping is a physically demanding job and involves no small amount of risk. Having Workman’s Compensation Insurance may offer your company financial protections if an employee sustains injury at work.
If you find that your company is doing more business than is covered by your General Liability Insurance, it may be wise to take out an Umbrella Policy. Some clients may even request that your company provides this on more expensive projects. This type of insurance expands beyond the payout of typical General Liability Insurance, providing and additional $1,000,000 in coverage. Meaning if an accident causes $1.2 million dollars in property damage, but your general Liability Insurance only covers $800,000, the Umbrella Policy would cover the remaining $400,000.
It is important to review your company’s insurance to ensure it is growing and adapting to your business. Depending on what insurance your company has, there may be holes in its coverage. Insurance is complicated. Talking to a knowledgeable Insurance Agent with Landscaping Insurance experience is a good idea, and could save you a lot of expense, headache and prevent a loss of revenue.