• Thankful For Your Family…. Business?
    Landscaping businesses are often family endeavors. While this can combine the best of both worlds (personal and professional), it isn’t always smooth sailing. Click here to read more.

insurance

husqvarna600c

LawnSite Member
Location
oklahoma
Is there a national insurance company out there that specializes in lco's?

The local insurance companies here act like we are out to do great harm with our equipment.

They recommend a minium of two million to start.
 

specialtylc

LawnSite Bronze Member
There is such a thing as being Insurane rich and cash poor. Most of my large commercial acct. only require $300,000 to $500,000. I carry a 1,000,000 liability policy. I would try to find a local agent and not get it over the phone or mail.
 

tiedeman

LawnSite Fanatic
Location
earth
Weisenberger..or something like that. I don't think that I spelled it correctly though
 

Darryl G

Inactive
Not all companies are licensed to issue policies in all states. When I started out, I had a hard time finding anyone who would insure me. Most wanted a minimum of 3 years of business records relating to revenue and claim history.

I ended up going with National Grange Mutual. I have a 1 mil policy, 2 mil aggregate.
 
OP
H

husqvarna600c

LawnSite Member
Location
oklahoma
I have a place that offers it but they frown on anything less then 2 mil. and they always say people will sue you for all you have and more.They also recommend getting incorporated.

I would like to have enough incase something drastic was to happen but i dont want to have or pay too much.
 

Darryl G

Inactive
Are they saying they won't insure you for less than 2 mil? If so, I'd keep looking.

My personal insurance agent thinks I need a 1 million dollar whole life insurance policy. Not gonna happen. I went with what I could afford.

BTW - An LLC also provides good protection...going Incorporated can kill you on taxes and is way more complicated than an LLC.
 
OP
H

husqvarna600c

LawnSite Member
Location
oklahoma
they will insure me for less but like you said the would like me to have a large amount.

Everytime im done talking to the insurance company i feel underinsured and like im getting nothing for my money. And i am always reassured that i do not have enough . And the "what if" always comes up like "what if a rock flies out and kills someone?" My problem is i would like to find a company that specializes in lco's and understands what we do.

Not just someone who could rip me off.
 

Darryl G

Inactive
You might want to try Farmers & Mechanics or find an independent agent, which is what I did.
 
Top