Landscaping Business General Liability Insurance Isn't always an option, but in many cities, a requirement if you want to operate a landscaping business. This is especially so in Minnesota, where many towns require contractor's insurance to perform services within their jurisdiction. At the time of this writing, 1 Reason Insurance offers landscaping insurance policies in Michigan, Minnesota, and Wisconsin.
While the title doesn't say "Landscaping business personal property coverage", it's also very often added to general liability insurance policies as a stand-alone add-on, or as a combination known as a BOP, or Business Owner's Policy. I'll return to the general liability information in a moment, but let me highlight to you the importance of making sure you get the right type of business property insurance coverage because if you're not careful, you could get the wrong kind.
When it comes to a landscaping business property, you have two distinct kinds in terms of insurance coverage. The first is BPP, or Business Personal Property, and the second is IM, or Inland Marine. Your tools and equipment that stays in the shop can be covered by BPP, but all your tools and equipment that goes to the job site needs to be covered under Inland Marine. In a nutshell, Inland Marine coverage is for property that moves and at any given time, isn't at the primary business address. All the "stuff" in the back of the pickup truck and/or trailer…..Yup, that's covered under Inland Marine. If you only have Business Personal Property insurance coverage on it and it's lost at the shop, you're likely going to be ok and covered. But the same Skid-steer or other equipment can be located at the job and have no coverage.
If you have any questions about coverage, give us a call or email and we'll be happy to explain what types of coverage are appropriate for any given situation. Nothing's worse than paying for coverage you aren't able to use, and you don't want to pay for more expensive coverage if the lower cost option is available, so make sure you have the right coverage for the right too.Any landscaping tools or equipment property worth over $1000 is property that 1 Reason Insurance wants to schedule for you. There's two reasons why. The first and primary is if you have a loss (for example, your trailer is stolen), the stress of dealing with stolen property will make it that much more difficult to remember every last piece of equipment that was in the trailer. Let's face facts, many times, it's hard to remember all the tools and equipment you have when you're not under pressure to remember everything for an insurance claim.
Landscaping Business with Commercial Auto
There aren't many legitimate landscaping businesses that I know of that don't have at least one pickup truck in the mix. Personal auto insurance policies don't typically cover anything that is business or commercial related. If you're driving a pickup truck going from jobsite to jobsite and your truck is covered by a personal auto policy, you will want to make sure that you're covered by asking your agent questions. One of the reasons some business owners decide to stick with a personal auto policy instead of a commercial auto policy is the belief that a personal auto policy costs less. Usually, and this is especially true for company's that are profitable, commercial insurance actually costs less when the final accounting is complete. The reason why, is because typically (please check with a tax professional), you can write off your commercial auto insurance from your business income as a deduction and that can more than offset a premium change if the commercial auto costs more.
Not only can 1 Reason Insurance help your landscaping business with general liability, property, and commercial auto insurance coverage, but if you have employees, you'll want/need to have workmans' comp coverage too.
The good news is that we can often have your coverage begin the same day with many clients who are in need of landscaping insurance coverage right away.
Robert Weinstein is a husband, dad, stock market junkie, real estate broker, and of course…Insurance agent. Interests include my family, economics, marketing, technology, real estate, finance/investing, history, and Asia.
Robert’s insurance expertise includes having the designation of Certified in Long-Term Care (CLTC) and assist in asset protection for families with members entering retirement.
Robert is also an accomplished syndicated writer whose work can be found in TheStreet, MainStreet, CNBC, Forbes, Yahoo Finance, Seeking Alpha, MSN Money, The Money Show, Stock Saints, Motley Fool, Fidelity, Minyanville, RealMoney Pro, and many national and international newspapers.