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Liability Insurance

Discussion in 'Business Operations' started by sgl41377, Sep 6, 2007.

  1. sgl41377

    sgl41377 LawnSite Member
    Posts: 191

    How much liability insurance do you have? I have $400,000 worth of liability insurance. I was told by a major management group that I needed a minimum of $5,000,000 (yes 5 million dollars) worth of coverage to work for them. Anyone else heared of anything like this? And, how much insurance do you have?
  2. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    5M is rediculous...2M is plenty and that is what I carry which is probably twice what I really need.
  3. daveatl

    daveatl LawnSite Member
    from atlanta
    Posts: 4

    I am looking into opening my own shop. If it is just me mowing lawns to start off with what kind of insurance do I need? Any other advice on getting started would be much appreciated as well. Thanks for your help.
  4. CleanCutMowers

    CleanCutMowers LawnSite Member
    from SE MO
    Posts: 150

    Around my area normal is about a million and some are 2 million. 5 million seems pretty high. I know a guy here in town has to have 5 million for a huge nursing home and also carries it to mow at the gas terminals where the pipelines come in to fill up the trucks. Unless you are doing that you should be fine with 2 million.
  5. CleanCutMowers

    CleanCutMowers LawnSite Member
    from SE MO
    Posts: 150

    Just get some basic liability inurance to cover yourself mowing. A million would be fine to start out with and if you get into commercial some will make you have more coverage.
  6. daveatl

    daveatl LawnSite Member
    from atlanta
    Posts: 4

    What exactly does that cover? What liabilities do I have other than messing up the lawn? If I am going to be mowing small to mid sized lawns there is no possible way I could do $1M worth of damage to a yard. I guess I am just asking for clarification because I am not sure what I need to be protected against. Thanks for the help.
  7. Loy's Home Services  LLC

    Loy's Home Services LLC LawnSite Member
    Posts: 186

    2 mill w/ 4 mill aggr. Too frickin' much
  8. Tyler7692

    Tyler7692 LawnSite Bronze Member
    Posts: 1,086

    Anything you break, tear up, run over, or kill (including people).
  9. lawnpro724

    lawnpro724 LawnSite Silver Member
    Posts: 2,201

    Have had a million in coverage ever since I started but now day's companies are wanting me to increase it to two million. Everyone is getting sue happy these day's
  10. Eric D

    Eric D LawnSite Senior Member
    Posts: 295

    It use to be all you needed was to cover what you have in assets if you were sued. Now a day I call it the “Sue Lotto”. People are hoping you screw up so they win your insurance coverage by suing for anything and everything. Personally I blame lawyers for our sue society. Granted, if I screw something up I should pay for it, but the way it works now, something happens and the lawyers sue everyone including you, the makers of the equipment, and anyone else with in their imaginations.

    The sad thing, if you work for a living you have all these nonproductive jobs (lawyers) waiting to feed on you. Just the way it is I guess. Wish I knew how to change it, but they also control this bull shxt!

    Sorry for rambling, as you can tell this is a sore spot for me.:cry:

    Eric D

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