what insurance do i need?

Discussion in 'Lawn Mowing' started by lawnwizards, Jan 18, 2005.

  1. lawnwizards

    lawnwizards LawnSite Silver Member
    Posts: 2,434

    i got 500 grand of liability insurance, but what kind of insurance do i need to get to cover my equipment? the insurance guy said liability won't cover my equipment...

    thanks.
     
  2. bobbygedd

    bobbygedd LawnSite Fanatic
    from NJ
    Posts: 10,178

    what do you have? how much $$$ worth of equipment?
     
  3. lawnwizards

    lawnwizards LawnSite Silver Member
    Posts: 2,434

    probably around 4500 for everything.
     
  4. bobbygedd

    bobbygedd LawnSite Fanatic
    from NJ
    Posts: 10,178

    roll the dice. in 9 yrs i havn't had anything happen to my equipment. insurence is a scam. save the money
     
  5. Precision

    Precision LawnSite Silver Member
    Posts: 2,995

    I agree with bobby. with only $4500 at risk unless you total out your trailer or get swallowed by an earthquake, you are very unlikely to lose all of it.

    What you would need is an equipment floater added to your GL policy. My GL 1 mill, 2mill is about $800 per year. My equipment floater is about $250 and covers $25k of equipment. $20k of itemized mowers and the like and $5000 in misc items valued at under $500 each. So it isn't exactly expensive, but with only $4500 at risk it may not be worth it.
     
  6. packerbacker

    packerbacker LawnSite Bronze Member
    Posts: 1,433

    Wait till someone steals a trailer full of equipment and you cant work for a couple weeks. Then you'll be asking yourself why you didnt pay a small price for insurance.
     
  7. lawnwizards

    lawnwizards LawnSite Silver Member
    Posts: 2,434

    will homeowners cover it if your equipment is stolen from your garage, (or building in my case)?
     
  8. packerbacker

    packerbacker LawnSite Bronze Member
    Posts: 1,433







    Good question....i dont know. I think there is probably a line between your home asetts and your company assets. So i would say no.
     
  9. tailoredlook

    tailoredlook LawnSite Member
    Posts: 142

    homeowners wii not cover commercial equipment.
     
  10. Precision

    Precision LawnSite Silver Member
    Posts: 2,995

    tailorlook is right.

    If you use it to make money, it doesn't belong in your home and is not covered. That is how my insurance agent explained it to me.

    Home office, not covered. Home storage of equipment, not covered. Trailer, not covered.
     

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