Do you cancel business insurance during winter months?

Discussion in 'Business Operations' started by DLS1, Sep 23, 2005.

  1. DLS1

    DLS1 LawnSite Bronze Member
    Posts: 1,619

    Does anyone cancel their truck, trailer, equipment, pesticide,etc. insurance during the winter months to save money and then start it all up again at the beginning of lawn season? Have you ran into any problems with your insurance company raising your rates when you start again at beginning of lawn season?


    Why keep insurance if your not using the truck and other equipment during the winter months.
     
  2. lqmustang

    lqmustang LawnSite Senior Member
    Posts: 620

    I doubt your insurer will let you do something like that. If he does you probably won't get a refund as your rates are likely based on the season for your area. They know you are not going to be mowing when the snow is flying. I will be soon adding insurance for plowing (had it last year but changed companies in the spring). The rate for plowing is the same as if I had purchased the insurance in the middle of summer. Also with the pesticide liability, in our state the DOA is to be immediately notified if insurance is cancelled. I wouldn't want to risk a license issue.

    On another note, you may be able to save money on the truck if you park it and strip the coverage down to comprehensive only. That is a whole different ballgame than the business liability.
     
  3. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    I keep everything up to date 365 days a year.
     
  4. Green Pastures

    Green Pastures LawnSite Silver Member
    Posts: 2,457

    I doubt the insurance company will go for that. If they do it'll cost you.

    I want my stuff protected 24/7/365.....
     
  5. sildoc

    sildoc LawnSite Silver Member
    Posts: 2,925

    I pay all insurance once a year in July. Liability, vehicle, and theft. Costs me about 3600 but is easily paid in july when we are busy.
    No need to worry in january if we are making enough to cover certain bills.
     
  6. mow king

    mow king LawnSite Senior Member
    Posts: 571

    I keep it up to date 365, If I'm not landscaping then I'm plowing.
     
  7. hoyboy

    hoyboy LawnSite Senior Member
    from Chicago
    Posts: 346

    Think about what you are saying. Every business insurance I know of is based on either payroll, number of employees, or revenue...of which it sounds like you don't have any during the winter. So effectively you are not paying for insurance during the winter anyway.
     
  8. proenterprises

    proenterprises LawnSite Silver Member
    Posts: 2,297

    IMO, you would not want to risk not having your stuff covered in the "off months"
     
  9. topsites

    topsites LawnSite Fanatic
    Posts: 21,653

    I HIGHLY agree with greenpastures that IF they go for it, it will cost you more in the end one way, or another.
    Proent brings up a good point as well, for some wild reason you'll get that ONE lonely phonecall and it turns out to be a bunch of work you wouldn't normally do but since you got nothing better going on type of deal, if you need insurance then 24-7/365 is the only way.

    By the way, how come your dot is green and mine is red?
     
  10. hole in one lco

    hole in one lco LawnSite Bronze Member
    Posts: 1,793

    my insurance is payed for the year on the 1 of the year
     

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