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Insurance? How Much and How Much?

Discussion in 'Business Operations' started by SoloMow, May 5, 2005.

  1. SoloMow

    SoloMow LawnSite Member
    Messages: 172

    I have been reading a few posts that lead me to believe that I'm either under-insured or paying too much for the liability insurance I now carry. I work solo (mow, trim, edge, blow, go) in small sub-divisions with, what I consider, very small risk. Most of my accounts are absent from the property when I work. I rarely see anyone "out and about" while mowing. I have literally had to pause only once in two years while a pedestrian passed on the sidewalk. I pay $319 for $200,000 coverage. Your impressions?
  2. THill3

    THill3 LawnSite Member
    Messages: 60

    I pay 800 year for 1mil. and 50,000 equipment
  3. MMLawn

    MMLawn LawnSite Gold Member
    Messages: 3,569

    It really depends on how your business is set up (Sole Prop or Inc, LLC) and what/how much assets you have that you need to protect. The "standard" seems to be $1M. I did carry $5M but now I carry $10M though plus a $1M Umbrella Personal Policy.
  4. SoloMow

    SoloMow LawnSite Member
    Messages: 172

    Mine is a sole proprietorship. Which means I only answer to my wife! :D
  5. aclassic

    aclassic LawnSite Member
    Messages: 178

    hey solo,
    is that $317 per year? who is that through? does that cover pesticides?
  6. cajuncutter

    cajuncutter LawnSite Senior Member
    Messages: 626

    The amount you pay seems about norm. I carry 500,000 for 2 guys @ 605 per year. That is liability only with a 250 deductable.
  7. SoloMow

    SoloMow LawnSite Member
    Messages: 172

    It's $319 per year. But, it SPECIFICALLY states that it does not cover herbicides, insecticides, or pesticides. I can't buy Weed & Feed at Wal-Mart for my customers. And, they keep asking! :D
  8. pagefault

    pagefault LawnSite Senior Member
    Messages: 492

    $2 million liability, $10,000 inland marine, about $700/yr.
  9. touhey33

    touhey33 LawnSite Senior Member
    Messages: 778

    I pay 287 for 1 mil, but it does not cover pesticide, herbicides, etc... just mowing and 10,000 in equipment.
  10. Eddie B

    Eddie B LawnSite Senior Member
    from gone
    Messages: 859

    I have the same for $483... 500 deductible

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