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How much insurance??????

Discussion in 'Starting a Lawn Care Business' started by Theroadrage, Apr 30, 2003.

  1. Theroadrage

    Theroadrage LawnSite Member
    Posts: 25

    I'm just trying to get started. i dont have yards yet but when i do how much insurance should i get? then when i get my tax ID and buisness liscense how much is this gonna cost me at the end of the year with lets say 10 to 20 yards at $35-$60 dollars per yard.i dont want to end up paying my behind in taxes at the end of the year when i'm trying to work my 40 hours then grass cutting on the side and still struggling.(maybe not "on the side" soon enough,full time hopefully!!) Your feedback will be greatly appreciated.:cry: :dizzy: :confused:
  2. Green Pastures

    Green Pastures LawnSite Silver Member
    Posts: 2,457

    You'll need at least $1 million in liability to do commercial work.
  3. Theroadrage

    Theroadrage LawnSite Member
    Posts: 25

    Ok,whats the lowest residential insurance i can get away with and still be comfortable?
  4. wriken

    wriken LawnSite Silver Member
    Posts: 2,154

    comfortable?=1 million:)
  5. jeff_0

    jeff_0 LawnSite Senior Member
    from md
    Posts: 401

    i have 500,000, it's really cheap.. just a couple hundred of dollars..
  6. Theroadrage

    Theroadrage LawnSite Member
    Posts: 25

    For a small residential lawn service?C'mon now people,lets be serious.:alien:
  7. Theroadrage

    Theroadrage LawnSite Member
    Posts: 25

    Thanks jeff_o.I appreciate the feedback!
  8. Theroadrage

    Theroadrage LawnSite Member
    Posts: 25

    By the way.......those 40 hours I work on my regular job are cutting grass for a large school system(120+ facilities).Should i mention my experience as far as years on my fliers?
  9. Gr grass n Hi tides

    Gr grass n Hi tides LawnSite Bronze Member
    Posts: 1,020

    $1,000,000 is not much money these days if an accident happens. Take it from me, I've been in litigation for 10 years. Freakish things happen, that's why they're called accidents.

    Suppose for example your mower hits part of a metal clothes hanger or a rock hidden in tall grass, then it's propelled through a 50 yo man's eye and kills him. At 50 yo this man was in the height of his earning potential (let's just say 50k/yr. for argument sake). If his life expectancy is 74 years, then total lost earnings alone is $1,200,000. You're already underinsured !!!!!!!!!! That doesn't take into consideration other compensable losses for his family. Maybe he has a couple of children and a wife. Then what?

    Or, you're out there trucking along on your hydro with your ear plugs in & as you pass by a vehicle parked in the driveway a 4 yo darts out & somehow gets a foot under your deck.........lifetime impairment rating. You get the idea.

    Besides, I don't think any of us would want to NOT have a way to fix a problem we caused.
  10. Theroadrage

    Theroadrage LawnSite Member
    Posts: 25

    Damn good point!!!!!!

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