Ask your business insurance questions here

Discussion in 'Business Operations' started by Ben/Insurance, Apr 3, 2014.

  1. Ben/Insurance

    Ben/Insurance LawnSite Member
    Posts: 31

    The difference between truck insurance and General liability insurance. Our clients ask this question all the time, so I thought it was a good idea to explain here. Truck insurance (we call it Commercial Auto) covers bodily injury and property damage while you are operating your truck. General Liability covers your day to day business operations. I'll give you a good example. A landscaper that uses his pick up for snow removal. He is plowing a parking lot, and hits a parked car with the plow. The damage to the parked car is covered under his commercial auto policy. After he is done plowing and leaves the site, someone trips and falls on a patch of left over ice and sues. That is a General Liability insurance claim. This is just scratching the surface and it can get a lot more complicated but this gives you a good idea of the differences between the two policies. BPalmeri@Archerins.com if you have any questions, or post them here!
    Ben/Insurance
     
  2. Ben/Insurance

    Ben/Insurance LawnSite Member
    Posts: 31

    whiffy, No sorry, I don't practice in MD. I work in NY, NJ, and PA. If you are looking for a good insurance agent, google "independent insurance agent" for the Big I web site and search for a local agent. If you need advice on something, feel free to ask here and I will try to help you.
    Ben/Insurance
     
  3. Ben/Insurance

    Ben/Insurance LawnSite Member
    Posts: 31

    Last edited: Apr 21, 2014
  4. alldayrj

    alldayrj LawnSite Gold Member
    Posts: 3,768

    Im also on long island, should my inland marine be cheaper since i put gps tracking in my truck and equipment?
     
  5. Ben/Insurance

    Ben/Insurance LawnSite Member
    Posts: 31

    Allday, Good question to pose to your insurance agent. It probably depends on how much your inland marine policy costs. If it's significant (>$10K) then there is a decent chance that you will get a 5% or so discount. If it's a small policy, probably not.
    Ben/Insurance
     
  6. Ben/Insurance

    Ben/Insurance LawnSite Member
    Posts: 31

    What is an "additional insured" and why is my customer asking me for this? This topic comes up every day for us from our customers. Here is a brief overview. You perform landscaping services for a local bank and the bank wants to be listed as additional insured on your general liability insurance. Why? Because they are transferring risk to you. If you hurt someone while you are working at the bank, they want your insurance to respond. Not there's, so you list them as an "additional insured" on your general liability insurance. Your insurance now provides coverage to them in the event that they (the bank) is named in a law suit that is presented by the injured party. There is usually a charge to add an additional insured (it could be as high as 10% of your premium) so it's best to have your agent add "Blanket Additional Insured" to your policy. This provides an unlimited number of AI's at a fixed cost, usually $50 or so and it speeds up your certificates too. That's the sticky for today! Ben BPalmeri@Archerins.com
     
  7. Ben/Insurance

    Ben/Insurance LawnSite Member
    Posts: 31

    I'm signing off of lawnsite for a while. If anyone needs advice, has a question, or needs insurance, feel free to email me at BPalmeri@Archerins.com or call me in my office at 516-233-3515. God bless!
    Ben/Insurance
     
  8. BossPlowMaster

    BossPlowMaster LawnSite Member
    Posts: 122

    Why do some insurance companies not carry or give insurance to companies that provide pesticide or herbicide control services?
     
  9. DA Quality Lawn & YS

    DA Quality Lawn & YS LawnSite Fanatic
    Posts: 8,870

    Ditto on the question. You can find very few carriers that want to handle GL coverage for Lawn Applicators. Yet that is what we do for a living. Why is this?
     

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