How to go about getting insurance

Discussion in 'Business Operations' started by two-niner, Mar 21, 2002.

  1. two-niner

    two-niner LawnSite Member
    Messages: 13

    I'm just starting out this spring, and I have everything in place except for insurance. It's only going to be myself and one worker. We have flyers out there and a few jobs already lined up. I was just wondering what I need to have(licenses, tax ID #, etc.) in order to get liability insurance for my business. Also, is it possible to purchase an "umbrella" policy that would include coverage for my truck, trailer, and equipment. Lastly, what do some of you pay for your policy. I am looking to get at least a 1 million dollar policy, in addition to my truck and equipment coverage. Any and all input is greatly appreciated.
  2. bruces

    bruces LawnSite Senior Member
    Messages: 648

    Talk to your insurance agent or find an independent insurance agent.

    I have 1million liability and 10,000 coverage on equipment for about 800 per year.

    The truck insurance is separate.

    You probably don't need anything as far as licenses, tax numbers, etc to get insurance, however, you do need those things if you want to be a legitimate business, pay taxes on your income and so on.

    Your insurance agent should be able to advise you as to the state requirements for workmen's comp.

    Some states don't require it until you get to a certain number of employees.
  3. rodfather

    rodfather LawnSite Fanatic
    Messages: 9,501

    We carry a 2M umbrella policy with 100K coverage on equipment only. That runs us about $1700 a year.

    Trucks and trailers are another separate policy.

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