Insurance Type and Costs

Discussion in 'Business Operations' started by EZTarget, Apr 19, 2004.

  1. EZTarget

    EZTarget LawnSite Senior Member
    Posts: 295

    Curious about insurance type and costs. I know that to do this right, this is a must. I am unclear on what type and the cost (I know it is different across the country) that I should be looking at. In my business plan, I intend to get licensed for fert over the winter. In Texas it requires $100,000 property damage and $100,000 bodily injury per occurrence.

    Is this good enough for starting out? What am I looking at here? Hundreds per year or more? Any Internet based Insurance companies used that give quick and easy quotes?


    I ask here first before I contact any agent because they are like lawyers to me. Thanks
     
  2. RjCjR

    RjCjR LawnSite Member
    Posts: 50

    Around here (Indiana) you can't even touch a commercial prop w/o at least $1MM coverage. I think the min here to keep your pest license is $250K prop/injury. $1MM coverage here is around $1,200/season. Unfortunately it's a lump sum payment, not monthly installments.
     
  3. EZTarget

    EZTarget LawnSite Senior Member
    Posts: 295

    Sorry, I should have stated that this was intended to cover me in residential only. Commercial is a ways away for me. I realize that they probably have pretty high insurance costs on commerical. Brings up another question. Do you have to have it to even bid or is there a grace period to get it if you win the bid? Can you get it mid season prorated in that case?
     
  4. specialtylc

    specialtylc LawnSite Bronze Member
    Posts: 1,656

    Call an agent. Here the state Min. Required to get a license is $50,000 policy. And many Ins. Co. will take monthly installments. A basic policy to cover Pesticide Liability and general business policy is less than insuring 2 commercial vehicles for liabillity only.
     
  5. RjCjR

    RjCjR LawnSite Member
    Posts: 50

    EZTarget - When bidding on this Bank One, they required that I had all of my insurance coverages listed. I don't think they would've given me a go ahead w/o being insured FIRST. Bank One is HUGE around here, so they don't screw around. I'm sure there's plenty of com. work that you could sneak the insurance in AFTER winning the bid.

    As for getting the insurance mid season....

    Sorry, I should've explained my situation better. I get a $1,200 price paying it all at once. It would be a little more in the end if I made monthly payments. I'm only insured 8 months a year too.
     
  6. Team Gopher

    Team Gopher LawnSite Platinum Member
    from -
    Posts: 4,041

  7. EZTarget

    EZTarget LawnSite Senior Member
    Posts: 295

    thanks to all for the information
     
  8. FarrisFrog

    FarrisFrog LawnSite Member
    Posts: 35

    Call 1800-842-6572 ext 2581. They can help you with ALL your insurance needs!! They have several different companies they represent and can get you the best rate!
     

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