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Who has Insurance???

Discussion in 'Business Operations' started by Mike1977, Feb 15, 2012.

  1. Mike1977

    Mike1977 LawnSite Member
    Posts: 34

    This is year 2 for me and I feel I need to have insurance for my 15-20 clients I mow. I dont think Statefarm offers this for my business. If I shoot a rock and break a window or worse yet, someone gets hurt from one of my mowers.... I want to know it will be covered.

    Can you tell me who you use and perhaps the monthly (or yearly) price? Also, do you need fulll year round coverage?

    When I had a mortgage it was O&E insurance I needed to have. I dont know who or what type of insurance is needed.
  2. Crimson Lawn

    Crimson Lawn LawnSite Senior Member
    Posts: 319

    Shop around for general liability. $500,000 to $1 mil in coverage.
    Its not to expensive. I carry $1 mil with an upgraded coverage and blanket.
    It runs about $75.00 a month. I shopped Allstate,State Farm and Shelter
    before I setteled on American Family. Just remember cheap insurance only
    saves you money til there is a claim, then you cant find them.
  3. MOturkey

    MOturkey LawnSite Silver Member
    Posts: 2,757

    Any insurance agent can advise you as to what coverage you need. My 1 million general liability business policy with $25,000 inland marine (covers your equipment) runs about $800 per year. Rock through a window coverage is actually not what you need, unless it is an extremely expensive window, because I think you'll find most all have a $500 deductible, and most guys will just pay small damages rather than file a claim. What is important is the high limit liability in case of bodily injury, which could potentially keep you from losing everything you have.

    Insurance is not that expensive, and virtually every company out there offers installment payment options, so it is quite possible to get a policy in place for $100 or so. You are smart to do so.
  4. Wecutgrass

    Wecutgrass LawnSite Senior Member
    Posts: 660

    your not cutting your 20 clients by your self? i don't see the need for insurance with only 20 accounts.
  5. orangemower

    orangemower LawnSite Silver Member
    from pa
    Posts: 2,773

    One or twenty, it only take one accident.
    Posted via Mobile Device
  6. Dr.NewEarth

    Dr.NewEarth LawnSite Bronze Member
    Posts: 1,441

  7. J & D Greens

    J & D Greens LawnSite Senior Member
    Posts: 763

    When I started I did not have insurance for the first year. I only had twenty or so clients and worked very hard at a full time job also.
    I decided I needed insurance so at the beginning of the season I was going to get the insurance out of what I was making on the early odd jobs. Now I was edging the side walk in front of one of my best clients. I caught a rock and shot it right through the rear side window of her fiends cars, if that would have been a person that would have been the end of my family financially. So as soon as I could I got the insurance.

    We shopped around and got our policy from American Family Insurance, I can't off the top of my head tell you how much it covers, but it does cover at least 1mil general liability and covers my equipment against theft up to the amount that if I lost my everything I would be able to replace enough equipment to keep things going. It also covers things you may have to rent. The policy runs us around $800 per year.

    On my truck we stayed with our Allstate agent. It is a older vehicle 85 Ford F-150 4X4 with a plow. They cover it for another $800 per year for commercial use.

    I hope this is helpful because if you are like me I want to do things as legit as possible. We just did our taxes and things went very well. Remember most of these expenses are detectable. I feel that I should keep these expenses in the biz. side of things so you can really be able to count the costs of running your Biz.
  8. Gatewayuser

    Gatewayuser LawnSite Bronze Member
    Posts: 1,734

    This is 8th year, been with Grange, State Auto and State Farm. So far I like State Farm the best. I have a 4 mil policy and it costs around $60 per month. They can't insure you in all states though.
  9. clydebusa

    clydebusa LawnSite Bronze Member
    Posts: 1,660

    So true.. get insurance.. you will sleep better.
  10. J & D Greens

    J & D Greens LawnSite Senior Member
    Posts: 763

    Yeah, Insurance, paying Taxes, and any licensing necessary, I sleep much better!!!

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