Whether you live in the arid southwest or the lush southeast, your landscaping business has opportunities to make outdoor spaces more beautiful for individuals and businesses in your area. More than most small-business owners, landscaping professionals are aware of how forces beyond their control can change the course of their business. Storms, droughts, and even supplier shortages can force you to regroup and shift gears mid-project.
The good news is that the agility you’ve developed as an outdoor professional means you’re uniquely prepared to understand the importance of proactive risk management. Preparing your business to weather any storm is a complex process, and choosing the right business insurance to protect what you’ve built is a key step.
Many of the landscaping businesses we serve benefit from carrying the following policies:
Read on for a better idea of how each of these policies can secure the future of your landscaping business.
General Liability Insurance for Landscaping Businesses and Contractors
Whether you’re operating a scrappy startup with a few lawnmowers and a pickup truck or leading a team of specialists who craft living artscapes, General Liability Insurance can protect you from some of the primary risks you face each day.
Considered a foundational policy for landscaping contractors and businesses, General Liability Insurance offers coverage for third-party injuries and property damage. For example, if a decorative pond you install in a client’s yard overflows after a rainstorm and damages their living room, they might sue you for the cost of repairs.
A General Liability policy may cover the cost of your legal fees, as well as any settlement or judgment you’re found liable for paying.
Commercial Property Insurance for Landscaping Businesses
Let’s face it: landscapers can’t work without their equipment. And most of the time, that equipment isn’t cheap. If you couldn’t comfortably replace your most important equipment with funds from your savings account, Property Insurance can help keep your business healthy.
If your equipment is damaged by certain types of storms, stolen, or vandalized, Commercial Property Insurance can help cover the cost of replacing or repairing it. When you speak to your agent about protecting your equipment, be sure to ask about whether you could benefit from Inland Marine Insurance. This policy offers protection for business property on the go – a must for many landscapers, who transport their gear from jobsite to jobsite.
The Business Owner’s Policy (BOP Insurance) for Landscaping Contractors
Like many small-business owners, landscapers are often on the lookout for ways to save money on business expenses. The Business Owner's Policy (also called BOP Insurance) offers a simple way to do that: by bundling General Liability Insurance with Commercial Property for a discount, the BOP often offers a way to save money on two essential policies.
BOP Insurance is designed specifically for low-risk businesses, so not all landscaping contractors qualify. But it’s worth asking your agent whether you might benefit from this package.
Commercial Auto Insurance
If you rely on a vehicle titled to your business, it’s likely not covered by your personal auto insurance policy. Commercial Auto Insurance, though, can provide liability and collision coverage to vehicles your business owns.
If you use your vehicle for both personal and business purposes, you may benefit from Hired and Non-Owned Auto Insurance, a policy that covers mixed-use cars and trucks.
Workers’ Compensation Insurance
Workers' Compensation Insurance is an important policy for landscaping business owners to know about because it’s the only kind of small business insurance that’s required by state law. Every state has different guidelines for who needs to carry coverage when, but nearly every state requires businesses to have Workers’ Comp as soon as they hire an employee.
In some states, professions like landscaping that involve physical labor have fairly strict Workers’ Comp requirements. And in some cases, depending on the contract you have with your client, you may be required to carry the policy even if you’re the only person in your business.
Commercial Umbrella Insurance
Everyone needs a safety cushion from time to time. Commercial Umbrella Insurance offers additional coverage beyond the limits of certain underlying liability policies. If a settlement or judgment exceeds the limit of your General Liability Insurance or Hired and Non-Owned Auto Insurance policy, benefits from a Commercial Umbrella policy may be able to cover the overflow.