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NYLAWNMAN01
06-24-2007, 12:19 AM
Hey guys I want your opinion on Insurance...I am sure I am going to get different responses but I want to see what you guys think... Here it is : Since I am just starting out and wanting to do this business the right way would you get insurance for the first year since i am going to be doing this part time at first and dont know how many lawns I will end up? Would you wait till you had some money saved up first then get insurance. Licensing I am going to do right away, but insurance I dont know about yet. How many lawns would you have first before getting insurance?? Thanks Matt

Also are any of you guys also bonded and is it needed

cranium2001
06-24-2007, 12:30 AM
I live in western NY and have $1 million in liability for around $700 per year through ERIE Insurance. If you break that down it equals around $13.00 a week (52 weeks obviously). That's less than one lawn a week. You will sleep better at night knowing you have insurance and if you break a window or something unfortunate like that that $700 will seem cheap. I imagine the rates may be a little higher near the city but I couldn't tell you for sure. It's a no brainer to get it in my opinion. Good luck.

NYLAWNMAN01
06-24-2007, 01:23 PM
anyone else???

KTO Enterprises
06-24-2007, 02:48 PM
550 per year for a million from the hartford. Well worth having.

echeandia
06-24-2007, 09:38 PM
I also use Erie. My policy cost me $527 for $1MM in liability coverage plus coverage for my equipment and truck.

mattfromNY
06-24-2007, 10:10 PM
Accidents happen... Do you have enough to cover ANY accident that will/could happen tommorrow?? I've broken windows, dropped branches onto roofs, thrown rocks, pine cones and childrens toys out my mower chutes at a million miles per hour, etc... nothing very damaging, or needing to turn in a claim on yet, but it is definately better to know I have the insurance!
If you are starting a business, you have asked a dumb question. It should be required before you can get a dba, inc., co., etc. IMHO.
Matt.

bohiaa
06-24-2007, 10:16 PM
Accidents happen... Do you have enough to cover ANY accident that will/could happen tommorrow?? I've broken windows, dropped branches onto roofs, thrown rocks, pine cones and childrens toys out my mower chutes at a million miles per hour, etc... nothing very damaging, or needing to turn in a claim on yet, but it is definately better to know I have the insurance!
If you are starting a business, you have asked a dumb question. It should be required before you can get a dba, inc., co., etc. IMHO.
Matt.

Hard to add to this.....

however you have to ask yourself a Q......

So If you file a DBA,,,,, that still means you can be held personaly responsable, so lets say your mowing, the mower picks up a rock and sends it through a child. you go to court, they find you were negulant, <--- "spelling"

they garnush your pay for the rest of your life, after you get outta prison.
because they find that you knew you were suppose to have insurance. simply because of this post......

well are you ready to take on personal insurance, meaning you personaly take responsabilty ?


I hope you have your answer...

ed2hess
06-24-2007, 10:25 PM
A guess only.......90% of the young people doing a few yards don't have insurance other than what their parents carry on homeowners....And 90% of the part time guys with jobs have the insurance...So probably nobody will advise you not to get insurance....ask your parents agent.

Uranus
06-24-2007, 10:42 PM
GET IT. Not only does it cover you if you break something, kill someone, take off someones foot, or burn down someones house, but it also covers you if your equipment gets stolen. What if you having engine problems and your in your garage and you spray starting fluid into engine and it back fires. Your garage starts on fire and you lose your house. Guess what, Insurance will help cover it along with your homeowners policy. Just get it. Do you need a million $ of coverage for 10 lawns? NO, but you never know when a kid is going to come running down a driveway chasing a ball.

Get the insurance and sleep better knowing you will not lose everything you have because of a silly mistake or a money hungry accident prone person.

NYLAWNMAN01
06-24-2007, 10:48 PM
I figured Iwould ask this question because I had been reading in someones post that they were p/t and didnt have insurance. I most definately getting insurance, I was just asking because of the other post I read.

bohiaa
06-25-2007, 11:55 AM
I figured Iwould ask this question because I had been reading in someones post that they were p/t and didnt have insurance. I most definately getting insurance, I was just asking because of the other post I read.

GREAT Question,
hope you didn't feel like we were jumping on you. this is a touchey subject,

Going part time is wonderfull, you can really get started in a Big way doing this,
you can get policys as needed, Insurance companies will tell you NO, but it's NOT TRUE, I cover my equiptment for 8 months outta the year, there is no point on spending money while it's sitting in my garage, also for my truck. this way it helps to keep the cost down..

Getting hurt is one of the worst things that can happen, noone wants to see you or anyone around you getting hurt, It can wreck your life.

lawncuttinfoo
07-07-2007, 05:27 PM
Also are any of you guys also bonded and is it needed

I think bonding is the same as insurance but many people advertise insured AND bonded, so who knows?

KTO Enterprises
07-07-2007, 05:45 PM
There is 2 types of bonding.

1 is fingerprinted and on record with the local sherriffs office.

2 is a type of insurance that pays for completion or repair of a job you do not complete or mess up. State or fed work will almost require bonding insurance. Many contractors require bonding too.

bohiaa
07-07-2007, 07:35 PM
There is 2 types of bonding.

1 is fingerprinted and on record with the local sherriffs office.

2 is a type of insurance that pays for completion or repair of a job you do not complete or mess up. State or fed work will almost require bonding insurance. Many contractors require bonding too.

I thought bonding protects the place your working if you or anyone steals something ?

KTO Enterprises
07-07-2007, 10:27 PM
I thought bonding protects the place your working if you or anyone steals something ?

Thats what the 1st type of bonding is for.

befnme
07-08-2007, 01:07 AM
the best course of action imo is to beconme an llc. and get atleast 1mil in gen lioability plus remember to register your vehicle with commercial insurance.


by BOHIA:
So If you file a DBA,,,,, that still means you can be held personaly responsable, so lets say your mowing, the mower picks up a rock and sends it through a child. you go to court, they find you were negulant, <--- "spelling"

they garnush your pay for the rest of your life, after you get outta prison.
because they find that you knew you were suppose to have insurance. simply because of this post......


^^^^the llc will help protect you personally incae of an accident like this.