Every lawn care business owner obviously wants to see their business run smoothly and effectively. However, unforeseen lawn business accidents and damages are inevitable, yet many remain uninsured. Do you need insurance for a lawn care business?
When you are in the lawn care business, you should absolutely consider purchasing general liability insurance for your lawn care business. In fact, some cities may even require it. The following are things to consider when looking for/buying insurance for your business.
The size of your business
Insurance costs for a lawn care business are dependent upon the size of the business. For instance, if your business falls under a small-sized firm (10 or fewer employees), a small lawn care business insurance policy will work for you.
Here’s why: Insurance companies only compensate you according to the total value of your business. Mostly, insurance companies work with the utmost good faith policy. They only need their clients to uphold a mutual working relationship.
Insurance for tools and equipment
Lawn care includes working for different clients at their homes and both private and public properties. Such entities vary in terms of value, space, and social class. Therefore, if you’re investing in insurance as a business owner, you have to be very careful while visiting customer premises to avoid damaging their property.
If such damage were to occur, the property falls under a broad category, which is covered by general liability insurance. The cost of insurance covers copyright infringement, false advertising against your business, clients’ property damage, and bodily injuries.
Price of insurance
Today there are tons of credible insurance companies that are able to give lawn care business insurance quotes. Business insurance falls under different tiers, and each tier has a different price. This includes commercial auto insurance, general liability insurance, Business Owners Policy (BOP), and workers’ compensation.
You can start by comparing general liability insurance for lawn care businesses from different companies in each tier. Then, go with the one that provides the best average insurance cost for your lawn care business.
Use an insurance agent
An insurance agent will be a critical part of your insurance plan. Choose an agent you can trust. A trustworthy agent will walk with you step by step in helping you understand how much insurance is for your lawn care business. An incredible agent will advise you on when to change your policies.
If you do not have an idea of where to start, a trustworthy agent can walk you through the calculations of the average cost of insurance for your lawn care business.
He or she will inform you of everything your liability insurance covers. Other than cost, the agent should update you on special insurance features and how you go about claiming compensation in case you incur damages or injuries while doing business.
Payment frequency
Always consider the average insurance cost for your lawn care business and the frequency of the packages. Most companies offer you the choice to pay monthly, quarterly, or annually.
Choosing extended payment periods is an excellent choice since you get to enjoy some huge discounts. For example, paying annually is less expensive than paying monthly. Spending once or twice a year relieves you of a monthly payment.
Remember this: Both you and the insurance company are a business. In the event you need to be compensated, it must be proved to the insurance company that an accident has occurred. Faking incidents to receive compensation from insurance companies is fraudulent and illegal.
Apart from disappointments for lack of conviction, causing careless damages to your clients’ properties can hurt your business reputation. You will receive negative feedback and word of mouth passes faster than any other form of advertisement.
Accidents are going to happen, it’s the nature of this type of business. A customer’s window might be broken, or someone may get a minor injury while working onsite. Lawn care workers use large, often dangerous equipment to complete services. Every property is different.
Make sure you hire responsible workers and know how to operate your lawn mowers, leaf blowers, string trimmers, and all other equipment.
Be prepared to handle issues honestly and quickly when they arise. For example, if one of your workers is stung by bees on a property, do you know how to handle this? Do they have to use their personal insurance or will you cover them?
Customers can often be forgiving of minor accidents, as long as they are handled well.
Be flexible
Flexibility allows your business to continue to operate even after experiencing a significant setback. Although having a long term insurance policy is advisable, you must regularly analyze what your insurance is doing for you. Review the benefits of being with that insurance company yearly and see if it is worth continuing the partnership.
Another benefit of switching insurance is that companies come up with exclusive offers from time to time to attract new clients.
You should also monitor your insurance company’s performance. Some of these insurance companies may declare bankruptcy.
Also, some legal matters take longer to settle. These issues can affect how your company operates, making it hard for your services to be reliable.
It is undeniable, and sometimes mandatory that small lawn care business insurance can help you grow your business from a small startup into a mega-business. However, it’s helpful if you do it right to thoroughly enjoy these benefits.
Whenever you want to learn more details about lawn care business insurance, the best idea is to consult professionals near you.
Main Photo Credit: AndreyPopov | Canva Pro | License
