Liability Insurance

Discussion in 'Starting a Lawn Care Business' started by cgaengineer, Jul 20, 2007.

  1. cgaengineer

    cgaengineer LawnSite Fanatic
    Posts: 15,783

    Where are most purchasing their insurance from? I got a quote today of $500 per year solo op for up too $24,400 income 500 deductible, the price jumped to $755 per year with one employee and 50K income.
     
  2. echeandia

    echeandia LawnSite Bronze Member
    Posts: 1,131

    Why is the liability insurance based on income? Who is quoting you this? Liability insurance is usually based on coverage limits.
     
  3. TSG

    TSG LawnSite Senior Member
    Posts: 444

    Some companies take into account the number of employees because their risk goes up.
    Years in business along with Gross income also is an indicator of potential risk.
    A company that does 10,000 vs. 100,000 has less volume and is less likely to have
    commercial accts ect.
     
  4. cgaengineer

    cgaengineer LawnSite Fanatic
    Posts: 15,783

    Yes, more income means more work and more likely to have accident in their opinion...even if I only do one job a year for $50,000. It is the same way at the company in which I work for, except with 17 employees our liability insurance is much higher.

    But does $500 per year sound kinda high?
     
  5. bohiaa

    bohiaa LawnSite Fanatic
    Posts: 5,220

    and there auditable policys,
     
  6. echeandia

    echeandia LawnSite Bronze Member
    Posts: 1,131

    What are the coverage limits? Just liability? Deductibles?
     
  7. cgaengineer

    cgaengineer LawnSite Fanatic
    Posts: 15,783

    Just liability and $500 deductible. I just want enough so that if I sling a rock through someones window or head I am covered...as far as the coverage I didnt ask.
     
  8. echeandia

    echeandia LawnSite Bronze Member
    Posts: 1,131

    How much liability insurance?
     
  9. TSG

    TSG LawnSite Senior Member
    Posts: 444

    Cgaengineer
    No disrespect intended here,
    but you really need to be more detailed?
    Is your equipment covered when it is on the trainer?
    In your garage?
    Is your Auto covered under a business policy?
    Did your agent ask for prices and serial numbers of all your equipment
    These things that that companies can use to avoid paying a claim, that you think should be covered.
    I used to do risk management in a former life.
    Alan
     

Share This Page