View Full Version : Insurance and bonding?

10-14-2009, 10:10 PM
I am curious as to what type of insurance do you guys carry? Is there a difference depending on whether you do more residential or commercial? About how much does the avg. insurance policy and bond cost? Should I worry with insurance while first starting out with residential only yards? Thanks

10-14-2009, 11:09 PM
You will want insurance!!! It can cost anywhere from aroung $400-$1200+ depending on what you get. For general liability an average policy is about $1million which is usually the minimum you need for commercial accounts. But if you are just doing residential you may be able to get by with $500,000. But no matter what you will want it, just in case there is an accident while you are working.

10-14-2009, 11:13 PM
general liability cost me $370 a year for 2 million, no Workman's comp

10-14-2009, 11:14 PM
A general liability policy is a must. We carry 2 mil worth of coverage for like $400 yr. $1000 bond cost us $75 . Most commercial properties will require some amount of general liability to even turn in a bid.
Posted via Mobile Device

10-14-2009, 11:20 PM
I can't get those great of prices for insurance up here. I'm at about $950 for a $1million policy right now.