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Discussion in 'Business Operations' started by FFMED74, Jan 22, 2004.

  1. FFMED74

    FFMED74 LawnSite Member
    from Indiana
    Messages: 242

    I have been on lawnsite since I got in the biz last year. The one thing I didn't do is go for insurance, because I only had a couple of accounts and one freebe I did for a soup kitchen. After searching the site I found no thread for this question of mine, how much insurance do I really need? I am very small right now, I am running a 48" Landscapers Supply w/b, w/a 15hp Kohler and have an older trailer. I know that when I pull it in my truck it is covered and on my property it is covered, but how much liability would be a right amount and what does that cost? Thanks for the help!
  2. DJL

    DJL LawnSite Member
    Messages: 237

    I don't think any amount is the "right" amount. All that you need is one "accident" and you could lose everything. I believe the most important thing is to keep separate your business from your personal. That way if something does happen you still have that roof over your head and your assets. I'm NOT saying that you don't need it, you do but I feel it is extremely important to keep separate personal and your business.

    As for an answer to your question...

    You should sit down with an insurance agent who knows what the heck they are talking about and can give you advice on which YOU make the decision on what is the proper amount of coverage.

    IMO, which I'll probably get a few people upset over, this site is not a place to ask questions like "what does it cost" UNLESS you can ask very, very specific questions. There are to many variables involved for a general question; location, experience, services performed, amount of insurance, employees, etc...good luck
  3. ccwmlw

    ccwmlw LawnSite Member
    Messages: 69

    I have a million liability,and my equipment is covered up to 15K for $400, not that expensive. My advice is to make sure you are covered because you never know when you will need it.
  4. dougaustreim

    dougaustreim LawnSite Senior Member
    Messages: 488

    Basically you need enough insurance to protect your current net worth and all future earnings.

    Austreim Landscaping
  5. Premium Services

    Premium Services LawnSite Member
    Messages: 44

    Biz full insurance on 2 truck/trailers and everything on it
    1 millon liability
    $4,300 a year
  6. FFMED74

    FFMED74 LawnSite Member
    from Indiana
    Messages: 242

    First I am sorry I posted this in the wrong place, guess I didn't know there was an insurance area....Never came up in my site search? I am definately planning on getting it this season and I have talked it over with an agent, but I wanted to see if the numbers they gave were the right numbers or if they were padding the $$$$$. I am going to keep looking and do thank each of you for your timely response.

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