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Discussion in 'Business Operations' started by sirsweatsalot, Jul 11, 2002.

  1. sirsweatsalot

    sirsweatsalot LawnSite Senior Member
    from MN
    Messages: 296

    ok i know this might be a hot issue but insurance. im assuming everyone has it but how long was it before you got it when you were starting out. and just an over view of what kinds of things it covers.
  2. Shady Brook

    Shady Brook LawnSite Bronze Member
    from Indiana
    Messages: 1,517

    I had mine from day one, and also pay my taxes too! I know many who do not!


    You have insurance to protect you, to protect anyone working for you, to protect your equipment, and to protect other people and their property who may incur damage from your business.

    Workmans comp for employees.
    Disability on you "if you could afford it" I can't.
    Liability for persons and propertys around you.
    equipment expense on equipment if you so choose.
    Health insurance if you do not have any and desire some.

    Maybe more I am not thinking of.
  3. ProMo

    ProMo LawnSite Bronze Member
    Messages: 1,468

    I just got liability ins after 10 years of not having it fortunantly I have never broken anything waiting for my spray lic now
  4. sirsweatsalot

    sirsweatsalot LawnSite Senior Member
    from MN
    Messages: 296

    how much money are you talking for liability and can it be just for part of the year. i think the winter would kill me if i had to pay it all year. as what kind of thinks would that cover. im thinking it would only cover all property damage and not personal(myself) right?
  5. Shady Brook

    Shady Brook LawnSite Bronze Member
    from Indiana
    Messages: 1,517

    You should talk to some insurance agents where you live, that way you will know for sure. It is really not that costly, and if you don't think you can afford to pay it, you should not be in business. This is serious stuff. You could be sued for every cent you have, and mabye most of your future earnings if you injure some one and they sue you. Those around you deserve it as well should they be hurt, for instance the fella who has a post about getting gas in his eye. If the gas station decided not to pay their insurance, how would he get compensated. Obviously the gas station has more resources available then do you, but you get the point.

    In most of the towns I work, I must be bonded, and licensed to do work. In order to get bonded and licensed I must have a certain amont of liability insurance. Better check with your towns to see if you need to be licensed and bonded.

    My opinion is that we all got to play by the rules. I see all types of clowns rolling around where I work, many don't pay taxes, many do not carry workmans comp, and other insurance. They pull their machines with all sorts of vehicles, and are able to cut my throat cus they have no overhead. Most of the time I don't want the customers they get, but I am sure they get their fair share of good work as well. It can be frustrating to me, and I hope you go legit. Enough of my venting:)

  6. Hawkeye5

    Hawkeye5 LawnSite Senior Member
    Messages: 295

    Jay hits the nail on the head, you need insurance. End of discussion.
    As to cost, that varies by state, territory within the state, and total receipts. Most commercial companies will have a minimum premium around $500, some more, some less. 12 month policies are the norm, but you can pay monthly or quarterly, depends on the company. Protection includes Bodily Injury to others and damage to others property. There are exclusions that apply. Will cover your negligent acts related to the business. You need a homeowners policy for personal liability that is not business related. JD

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