Liability Insurance

Discussion in 'Business Operations' started by llama, Mar 3, 2003.

  1. llama

    llama LawnSite Member
    Messages: 165

    How much should liability insurance cost?

    One company wants me to have $500,000. Will this be expensive? Or is it not worth going after the job?
  2. J&R

    J&R LawnSite Senior Member
    Messages: 835

    My cost is 350.00 year for 500,000 aug 500,000 were in Al. do you live. might be able to help you .
  3. Husker1982

    Husker1982 LawnSite Senior Member
    Messages: 480

    I don't know what work you plan on doing but you may want to consider 1 million. Seriously cause not even 1 mill will by a whole lot. I have 2 million and I pay 1150 a yr. Check around cause that seems a little high.
  4. cos

    cos LawnSite Addict
    Messages: 1,253

    Why wouldn't you have insurance now?

    For the few hundred a year, it is something that you shouldn't do with out!!!
  5. lee b

    lee b LawnSite Fanatic
    Messages: 6,207

    $350.00 for 1 million in liability and full coverage on my mowers. Too cheap to do without.
  6. llama

    llama LawnSite Member
    Messages: 165

    To answer a few questions, I live in Gadsden AL. I worked with my brother-in-law last year. He decided to go elsewhere for employment so now I will start a business on my own. I have the equipment ready to start the season off. I have not cut any lawns this year. I want to get everything completed, (like insurance, licenses, flyers complete) before actually starting. I plan to have all this done in the next 10 days.

    Let me know if I am overlooking anything.

    Thanks for the help
  7. Husker1982

    Husker1982 LawnSite Senior Member
    Messages: 480

    Lee I am coming down there for insurance. I pay 1150 just for liability. I pay another 12??.00 for coverage on all my equipment. I do have alot of equipment though. What all do you have that is covered. Just wondering why so cheap.
  8. lee b

    lee b LawnSite Fanatic
    Messages: 6,207

    Only have my mowers covered right now, JD 335 tractor and M665 z, $!4,000.00 worth, $250.00 deductible. Really need to add my 2-cycle equipment.
  9. paponte

    paponte LawnSite Silver Member
    Messages: 2,366

    Yes I agree it depends on what type of work you will be doing. If it is just maintenance that seems like a good amount. We carry a 2 mil. policy because we do land clearing, const. etc.. I also pay well over 1K a year. :cool:
  10. grshppr

    grshppr LawnSite Senior Member
    Messages: 301

    My insurance has 2 million liability. I pay 1150/year Canadian. With exchange what does that work out to in USD.......probably like fifty bucks or something:D

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