Why Is Landscaping Insurance Important? What Coverages Are Best For Landscapers? Unfortunately, no one policy will cover all the risks faced by your landscaping company, Let’s look at how Landscaping Insurance will help.
Why Is Landscaping Insurance Important?
As a landscaping professional, you invest time and effort to make the dreams of others become a reality by transforming their surroundings. But what about your dreams and goals for your own business? We bet you’re working hard to make these a reality too. It would be a pity to see them crushed by an accident or a lawsuit.
How are you protecting your landscaping business from financial loss from liability claims? Let’s look at how Landscaping Insurance will help.
More information is available at contractorsliability.com
Why Is Landscaping Insurance Important?
The nature of the work your landscaping business does carries risks that could easily turn into expensive accidents. For example:
Failure to insure yourself against risks is foolish and may result in draining your resources. Many small businesses have had to close when called upon to pay for damages or expensive lawsuits out of pocket.
What Coverages Are Best For Landscapers?
Unfortunately, no one policy will cover all the risks faced by your landscaping company. You will need several policies. Here are some of them:
Business Owner’s Policy Insurance (BOP)
This policy is recommended for small business owners as it is a cost-effective option of obtaining 3 policies in one package. The policies cover your basic needs as a small business.
1. Property Insurance
Property Insurance covers you in the event that your business premises, tools, and equipment suffer damage or are destroyed by events such as fire, vandalism, storms, and theft. The coverage will go towards the replacement of office furniture, computers, machinery, and other equipment and assist you to continue with your operations.
2. Business Interruption Insurance
Coverage under this policy kicks in if physical loss or damage to your insured property results in business interruption, causing you loss of income. The insurer will cover your loss until your property is repaired or replaced and normal operations resume.
3. General Liability Coverage
If a visitor is injured at your business premises, this coverage will help pay for medical costs. Likewise, if an accident occurs at your site which results in third party property damage, you are also covered. You are protected from third-party liability claims for property damage or bodily injury.
In addition, the following insurance cover is required by law:
Workers Compensation
This cover gives you peace of mind that if your employees are injured in the course of work, their medical costs will be taken care of. In addition, they will be compensated for the loss of income.
Commercial Auto Insurance
This is essential for a business that transports tools and equipment from one site to the next. Your personal auto-insurance will not protect your work vehicles.
If you adequately insure your business, you will have the peace of mind that comes with the knowledge that your business is prepared to face whatever challenges lie ahead.
