How to Protect Your Business with Insurance
With spring and summer right around the corner, many people who are looking to start their own business may consider opening a landscaping business. This type of business is appealing for many people because it does not have a huge overhead.
However, if you are considering opening up a landscape service, you will definitely want to consider the liability that comes along with such a business. Further, because your business is actually run completely off your own property, this presents a different situation in terms of your insurance needs.
What are the risks involved in running a landscaping business?
Weather is perhaps the most common source of risk for a landscaper. Strong winds and heavy rains can damage plants and landscape features. Redoing your work is not only costly but also time-consuming.
Another risk that you need to avoid is employee injury. Most tools and equipment used to landscape can cause bodily harm, hence the importance of adequate training. Similarly, third parties such as your clients could also get injured by the same equipment used to landscape their property. But, accidents do happen; that is why, as a landscaping business owner, you need to make sure that you are protected.
No matter what there is no denying that you need insurance to protect the investment that you have made in your landscaping business. Without it, one mistake could cost you a fortune and end up ruining the plans you had for your business. We will discuss the different types of landscaping insurance you may want to consider below.
General Liability Landscaping Insurance
This one is non-negotiable. If you are going to care for other people’s personal and commercial property by providing landscaping services, then you are at huge liability risk. Investing in landscaping insurance is a great way to make sure you have general liability covered.
Perhaps you have never had any complaints before, but suddenly one of your clients complains that you have accidentally destroyed their very expensive sprinkler system. You have another client who complains that some debris has broken a window in their home. It is possible that these simple complaints could be extremely costly for you.
In fact, if a client wanted to, they could take you to court over these complaints. Now, you will need to add legal fees to the mix as well. As you can see, having landscaping insurance to protect you from these claims is a step in protecting your livelihood.
Workers Compensation Insurance
Some landscaping businesses are a one-man operation, but if you ever find yourself employing even one other helper, then you will need workers' compensation insurance. Due to the nature of your business, any employees you have on staff will be using some form of dangerous equipment.
Protect yourself and your employees from any health issues that could come up along the way. Any injury on the job could result in an employee seeking benefits through workers' compensation, this is especially important for landscaping businesses considering the line of work wears on the body.
Inland Marine Insurance
Contrary to how it sounds, inland marine insurance covers tools and equipment that are lost or damaged while being transitioned. Think about all of the expensive equipment that your landscaping business must transport every day and consider how valuable inland marine insurance could be for your business in the long run.
Final Thoughts
Running a landscaping business might sound like an easy job, but it is actually quite dangerous. There is a lot of risks that come along with beginning a business like landscaping. While this can be an incredibly lucrative line of work, it is necessary for landscapers to protect their profit with the right insurance.
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