View Full Version : How much insurance?
12-19-2011, 11:31 AM
I am starting a new lawn maintenance business. I will be working by myself initially, with about 20 residential accounts. I am trying to determine how much insurance, and what type to carry. I will be doing basic yard maintenance and applying fertilizer, pesticides, and herbicides incidentally to the business. Any advice?
12-19-2011, 12:46 PM
I don't know callifornia laws regarding insurance, but every state I know of requires you to carry a certain amount for your pesticide liceanse. Are you liceansed for pest yet? I would think if you are then you would know the state requirements. Also with maintenance you want to have enough coverage to protect the business you you incase you make a mistake like hitting a peble through an expensive window, or worse kicking up a stone into a kids head. Once you look into insurance you will find that the basics are expensive but to add on is very minimul, to go from 250,000 coverage to 500,000 in coverage may only be an additional few hundred a year.
12-19-2011, 06:37 PM
Our minimum requirement for liability insurance is 3 million coverage.
There is one city here that wants us to have 5 million, plus errors and omitions insurance (overkill and money grab)
For three million liability, it costs my company about $885.00 a year. We have never had a claim in fifteen years of business.
But, as we are a member of the landscape association. That gives us a discount.
In this jurisdiction, you have to be licensed as a pesticide applicator. There isn't seperate insurance for that.
Also, we pay workers compensation on our payroll. The base rate for landscapers in British Columbia is $2.59. We've never had an accident claim (knock on wood) so my company gets a discount and we pay about $1.15 for every 100 dollars we pay out to employees.
I don't know why our liability insurance is so high. Alot of other companies on this site have reported much much lower premiums post 911...and we're on the other side of the continent, so go figure.
NEW CITY LAWN CARE LLC
12-19-2011, 07:07 PM
About $500/Year here but with 1 Million.....
12-19-2011, 11:44 PM
We carry 2,000,000/4,000,000 liability, $1,000,000 workmans comp, $1,000,000 auto. I can't remember the total bill, but I think it's a little over $4,000/year
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