Businesses of all types need insurance to ensure that their assets are protected if the worst ends up happening. Even businesses that you’d never expect to find insured can do themselves a favor by getting a policy that protects them. Over the course of this article, we’re going to cover the things you should know about landscaping insurance.
What is Landscaping Insurance?
Landscaping insurance is a set of insurance policies that are designed to protect a landscaping business. This kind of insurance can also be known as lawn care insurance. There are several different policies that a landscaping company can opt for, but the most common one is general liability coverage.
The average cost of a landscaping insurance policy is about $2000 per year, but this depends on a host of factors that will likely vary from business to business. Keep in mind that general liability insurance isn’t the only form of coverage available, and additional coverage may bump up that cost.
It can be difficult to determine how much your landscaping insurance will cost you because of the wide range of factors that go into determining what kind of insurance a business needs. We’re going to take a bit of a closer look at what you can expect to pay for your landscaping insurance later on.
Which Businesses Need Landscaping Insurance?
Most businesses that need this form of insurance will work in landscaping, maintaining residential and commercial properties and planning out the placement of plants and then installing them. Here are some of the services that would benefit most from a landscaping insurance policy:
- Lawn Care Companies: These companies handle tasks like the maintenance of completed landscapes as well as simpler tasks like gardening and weeding.
- Excavation Companies: These companies are the precursors to landscaping companies, as they are tasked with evening out the land before a landscaping company steps in to perform the required landscaping tasks.
- Tree Maintenance, Removal, and Pruning: These companies, as their name suggests, are responsible for maintaining the trees on your property, pruning them, making sure they’re nourished, and potentially even removing them.
Is Landscaping Insurance Required?
Every state in the USA requires a landscaping business to be licensed so that they can operate legally, though not all of them require insurance to get that license. Only about 20 states in the USA require you to have some form of landscaping insurance before they’ll give you a license.
Cost of Landscaping Insurance
We’ve already mentioned that the cost of landscaping insurance averages out to about $2000 per year, but we’ve only briefly addressed the factors that will influence your price. The major factor to consider is the size of your business, as a larger business will have a higher chance of something happening that will necessitate a claim.
Other than the size of your business, you’ll have to consider your number of clients and the number of days per month that your business is active. More activity means that there’s more of a chance that something can go wrong, once again necessitating a claim.