Starting a lawn care business can be rewarding, however, it does come with some risks. Be it a small business or a large corporation, having an insurance plan is necessary especially to guard the business against possible accidents, damage to property, or being sued.
So, to protect against these risks; lawn care insurance fits perfectly.It ensures that your business is in a stable condition even in hard times.
In this article, we feature lawn care insurance in detail including the types of coverage available, the premium costs and where to find affordable lawn care insurance quotes.
Best Insurance for Lawn Care Business
Lawn care businesses require a variety of insurance policies to ensure comprehensive protection. Here are some of the key types of insurance:
- General Liability Insurance: This is one of the most important policies for any lawn care business. It protects against damage to a third party’s property and bodily injury during operations. For instance, if a rock generated from their lawn mower breaks a client’s window, it would pay for the repair costs as well as legal fees related to the case.
- Workers’ Compensation Insurance: Employees need this insurance in most states. It pays the medical bills and compensates the lost income of employees injured in the workplace.
Even if you are a sole proprietor, it is good to have workers ‘compensation since you know you’ll be protected should an employee gets hurt on the job.
- Tools and Equipment Insurance: This policy covers your business from unexpected losses and damages to its tools and equipment. It is very important for lawn maintenance businesses- the equipment is often pricey and key to the business.
- Commercial Property Insurance: In case you have a building or a premises that you rent for your business, then this insurance can cover the damages to or loss of the said property.
- Commercial Auto Insurance: If you have vehicles for your business, then this insurance covers accidents of those vehicles including the vehicle itself and any other parties affected.
General Liability Insurance for Lawn Care Business
A lawn care company is advised to get business liability insurance since it provides cover for respect claims that fall under property damage or even personal injury. This finance type only covers the clients and third parties’ interests, and not its owners plus employees.
For example; a client is hurt from a tree trimming session because a branch fell on them, having general liability cover can help meet medical bills along with the legal costs that ardently come with it.
The amount of coverage is dependent on the business risk and size but can be anything within the bracket of $500,000 and $2 million.
Lawn Care Business Insurance Cost
The cost of insurance to protect your investment in the lawn care business varies based on the type of services that you offer, the size of your business, as well as your claims history. Here’s a breakdown of the average costs for different types of insurance:
- General Liability Insurance: This type of insurance policy limits $1 million for each occurrence and $2 million aggregate, and such a policy is charged with an average rate of about $46 on a monthly basis. The average annual estimate is $550
- Workers’ Compensation Insurance : Depending upon the number of employees and the risks of the jobs they are performing, this insurance plan usually costs upwards of $143 on a monthly basis, and $1,713 annually typically.
- Tools and Equipment Insurance: Basic coverage for an incident of $1,000 usually starts from $3.33 a month, however, prices do differ regarding tools and equipment.
- Commercial Autos Insurance: Depending upon the nature of the vehicles and driving records, this type of insurance cost on average near about $190 monthly or around $2,285 a year.
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Costs For Lawn Care Insurance
With regards to pricing for lawn restoration business insurance, there are many factors to be taken into consideration with the most important being coverage options, geographical area, and complex requirements and services.
For example, a lesser business can start with tools and equipment insurance along with general liability but an enhanced lawn care unit may need the commercial auto coverage as well. To help you better understand, here are a few starting points for insurance costs:
- Insurance Canopy starts its general liability cover from as low as $31 a month. • Packages offered by NEXT Insurance begin at around $41.67 a month.
Average Insurance Cost for Lawn Care Business
The average insurance cost for a lawn care business can vary significantly based on the specific policies and coverage limits chosen.
Insurance Type | Average Monthly Cost | Average Annual Cost |
General Liability | $46 | $550 |
Workers’ Compensation | $143 | $1,713 |
Tools and Equipment | $3.33 – $5.00 | $40 – $60 |
Commercial Auto | $190 | $2,285 |
Cheap Lawn Care Insurance Quotes
For affordable lawn care insurance, one might need to compare rates from different providers. So how do you get cheap lawn care insurance? Check these methods that might help you cut costs on insurance:
- Visit websites: Platforms like NEXT Insurance and Insurance Canopy allow you to get quotes and set rates in minutes at an extremely low cost.
- Get Multiple Policies: Most providers tend to offer discounts when you purchase multiple policies from them.
- Review and Adjust Annually: Remember how often one goes through their groceries? Expected it to be the same with reviewing your policies. You don’t have direct supervision or control of providers so policies would change. This is where one can adjust policies to get rates that have changed.
Lawn Mowing Insurance Cost
Insurance for lawn mowing businesses is usually incorporated in the general liability insurance policy.
Depending on the company providing the insurance and specific requirements, these businesses offering lawn care services expect to pay around $30 and $50 on a monthly basis for basic coverage with most providers.
Conclusion
If you are planning to start a lawn care business, you would require lawn care insurance which protects a business from economic risks.
It’s vital you understand the various policies available and comparing rates from various providers. For more information on Lawn Insurance don’t hesitate to call us or visit our website. We are here to help.