insuramce

Discussion in 'Business Operations' started by dstifel, Oct 25, 2012.

  1. dstifel

    dstifel LawnSite Senior Member
    Posts: 915

    Thinking about switching from 1 mil gen liability to half mill. Will save me close to 500$ a year and since I do residential only shouldn't cause any problems there. What do you guys think?
     
  2. Sprinkler Buddy

    Sprinkler Buddy LawnSite Bronze Member
    from Florida
    Posts: 1,187

    I carry a mil as well, I wouldn't decrease that coverage. Better to be safe than sorry. Better to spend that extra $42.00 a month for peace of mind, if nothing else. I do mostly residential too.
     
  3. grandview (2006)

    grandview (2006) LawnSite Gold Member
    Posts: 3,466

    Bump up your deductible ,that should lower it a bit.
     
  4. Blades Lawn Maintenance

    Blades Lawn Maintenance LawnSite Bronze Member
    Male, from Baton Rouge, La
    Posts: 1,233

    Im looking at getting insurance
     
  5. SRT8

    SRT8 LawnSite Bronze Member
    from CA
    Posts: 1,266

    We carry $3 million. We are obligated to carry it but its a good thing. When LCOs are forced to have insurance it makes for even playing fields and helps eliminate the super low ballers.
    Posted via Mobile Device
     
  6. dstifel

    dstifel LawnSite Senior Member
    Posts: 915

    Dont get me wrong I want insurance I have no accounts that require it but being raised in a strong union family I would never go without just wondering how much I need being a solo operator with no commercial accounts.
     
  7. SRT8

    SRT8 LawnSite Bronze Member
    from CA
    Posts: 1,266

    For residential with no employees $500k should be ok. Once tou hire employees definantly bump it over a million
    Posted via Mobile Device
     
  8. Blades Lawn Maintenance

    Blades Lawn Maintenance LawnSite Bronze Member
    Male, from Baton Rouge, La
    Posts: 1,233

    So when you get insurance. What kind do you get? I'm guessing general liability?
     
  9. SRT8

    SRT8 LawnSite Bronze Member
    from CA
    Posts: 1,266

    Yea general liability and then workers comp when you hire employees.
    Posted via Mobile Device
     
  10. Nate'sLawnCare

    Nate'sLawnCare LawnSite Bronze Member
    Posts: 1,001

    I carry a million liability with a $250 deductible and it's $625 a year as long as I don't cut trees and don't spray chemicals. In December, I should be getting the applicator license, so I'll find out then how much it will go up.
     

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