Insurance?

Discussion in 'Starting a Lawn Care Business' started by newjerseylandscaping, Oct 9, 2010.

  1. newjerseylandscaping

    newjerseylandscaping LawnSite Bronze Member
    Posts: 1,175

    Hey guys im looking to start up by march and its comeing quick. im trying to budget how much i have for the truck, and how much i have for the equipment. I was looking at a previouse thred and they started thalking about insurance. then it occered to me that i need to budget for that as well however i have no clue how much it will cost me a year. I will be doing it my self for now, Any Way i was hopeing if you guys wouldnt minD giving me a general idea Id appreciate it. I you wish you could PM me. Thanks HUnter:confused:
     
  2. Fairviewlandscape

    Fairviewlandscape LawnSite Member
    Posts: 41

    Insurance is a must have in today's law suit environment.
    You also need to budget for fuel, advertising, repairs, phone and profit.

    There is an awful lot that goes into running a business. Even though you will be a 1 man show to start, you are not doing this just for fun.

    Try to think of everything you may need to run your business, then add 10%. This will give you a good idea what your costs will be. Divide this by the number of hours you plan on working in your new adventure, and you will know what your costs are per hour. This will tell you what your bare minimum hourly rate should be.

    Do not forget to include a wage for yourself.

    Good Luck
     
  3. xclusive

    xclusive LawnSite Bronze Member
    Posts: 1,052

    You can get a $500,000 Gen Lia Policy with Farm Family for around $550/year. A workmans comp policy will be based in your payroll. Also think about getting an inland Marine policy for your equipment incase it gets stolen
     
  4. fastpine

    fastpine LawnSite Member
    Posts: 201

    I pay $1200 a year for my insurance..
     
  5. newjerseylandscaping

    newjerseylandscaping LawnSite Bronze Member
    Posts: 1,175

    Thanks guys i apreciate it very much, Do you have to have the workmans comp if your a 1 man show?
     
  6. newjerseylandscaping

    newjerseylandscaping LawnSite Bronze Member
    Posts: 1,175

    also does the $550 include snow plowing?
     
  7. bradseabridge

    bradseabridge LawnSite Senior Member
    Posts: 720

    sounds like you need to call an insurance rep.
     
  8. newjerseylandscaping

    newjerseylandscaping LawnSite Bronze Member
    Posts: 1,175

    better question does anyone know of ay insurance reps in nj??
     
  9. bradseabridge

    bradseabridge LawnSite Senior Member
    Posts: 720

  10. LawnEnforcement25

    LawnEnforcement25 LawnSite Member
    Posts: 99

    NOW THAT WAS IMPRESSIVE. How did you do that?
     

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