Insurance.......how much???

Discussion in 'Lawn Mowing' started by Esby, Apr 30, 2001.

  1. Esby

    Esby LawnSite Senior Member
    Posts: 662

    I did a search on insurance and couldn't find what I was looking for. So I was wondering how much coverage you have, and what your coverage includes. Also, if you know how much you are paying for that, put that in too. I was just thinking that I need to update my insurance and was wondering what is a good range.
     
  2. Groundcover Solutions

    Groundcover Solutions LawnSite Bronze Member
    Posts: 1,254

    we have $300,000 because we do not have any commercial biz. If you had some commercial accounts you would need $1,000,000. Damage to property and liablety is what it should cover things of that sort. Try posting in the business forum.
     
  3. eggy

    eggy LawnSite Senior Member
    Posts: 953

    We carry $ 1,000,000.00 it is the minuimum a lot of are commercials must have. We also carry equipment insurance, Workers comp ins. and the trucks must be insured as buisness , looking around 2,200. per year for all this..wages and equipment will change this of course..then dont forget your health ins and disiability insurance...about another 1,000.00 on the year.......yep insured to death...
     
  4. dhicks

    dhicks Member
    Posts: 771

    I have 1 millon per occurance and 2 million liability protection. The policy also covers equipment loss, theft, loss due to MV accidents. My cost is about $450.00 per year. I also have an additional 1 million dollar umbrella policy that costs $165.00 per year. With my luck, if I ever did caused a car accident, It would be my luck to hit a new 500 series Mercedes with two brain surgeons inside the vehicle.

     
  5. i pay 2,600 a year for my liability alone. but that is 1,000,000 dollars of general liability. it covers me for all phases of tree work, landscaping / land grading, and snow plowing. i may be able to get away with a bit of excavation but i never really do it. um, 1,000,000 dollars is good. i would never really go for any less. i have a good friend who has a 1/2 mil dollar policy and if he ever kills anybody he loses every last thing he owns. me, i am a corporation but still if i kill somebody or bust up a home i am up you know what's creek without a paddle. it all depends on what kind of work you do. for cutting lawns a million is good. if you do tree work or landscaping or excavation, spraying, etc. go with more if you can.
     
  6. i pay 2,600 a year for my liability alone. but that is 1,000,000 dollars of general liability. it covers me for all phases of tree work, landscaping / land grading, and snow plowing. i may be able to get away with a bit of excavation but i never really do it. um, 1,000,000 dollars is good. i would never really go for any less. i have a good friend who has a 1/2 mil dollar policy and if he ever kills anybody he loses every last thing he owns. me, i am a corporation but still if i kill somebody or bust up a home i am up you know what's creek without a paddle. it all depends on what kind of work you do. for cutting lawns a million is good. if you do tree work or landscaping or excavation, spraying, etc. go with more if you can. i also have a workmans comp policy on my guy, however that is based on your payroll.
    **NOTE: i know that this sounds messed up, however it is cheaper to kill a person than it is to injure them. reason being that if you kill an employee you only have to pay once, (funeral, etc.) if you injure him where he cannot work then you have to pay for him and his family to live as long as they are around for. food, shelter, etc.
     

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