Why Your Ohio Landscaping and Snowplowing Business Needs Insurance
In the head of the summer you are likely at your busiest if you own a landscaping business in Ohio. Obviously the snow plowing business is taking a backseat until it cools down, but regardless of the season you need to consider your insurance needs as they fluctuate throughout the year. With landscaping and snowplowing businesses come equipment, vehicles, employees, property and more. These are all things that need protected in order for your company to grow and run smoothly. Below we describe some of the policies that you should consider for your company and encourage you to look further into what coverage is right for your specific business.
Different Types to Consider for both:
Business Owner’s Policy
A business owner’s policy is kind of like an umbrella policy in that it combines multiple coverages into one. This is one of the most important policies to consider when thinking about why your landscaping or snowplowing business needs insurance. This policy includes three main coverages. The first is business property coverage. You’ll want this to protect the properties of your business and anything inside of those properties. This is a major one to look into when deciphering why your landscaping or snowplowing business needs insurance. The second thing that this policy includes is business liability coverage. This is coverage you will need, or wish you had, if you are ever sued. If your employee acts wrongly or is even just accused of it, you may end up paying major legal funds. It is best to have coverage that protects you from this as well as helping cover defense costs if necessary. The third thing that this policy includes is business income coverage. If, for some reason, your business had to close, this policy makes sure that bills are paid. Even if your business is down for some time and isn’t generating profit, this policy ensures that employees are being paid and you don’t lose your property.
Worker’s Compensation Insurance
This seems to be the policy that a lot of people know most about. Worker’s compensation is important to consider when thinking about why your landscaping or snowplowing business needs insurance. This is because if an employee is injured on the job, your business is most likely responsible. You want your business to be able to protect its employees by having a policy that takes care of them medically by helping with medical bills and financially by helping them with finances while they can’t work.
Auto Insurance/Rented and Non-Owned Auto Insurance
As we all know, accidents happen. Car accidents are especially common, meaning that when you think about why your landscaping or snowplowing business needs insurance, you should keep that in mind and check out this policy. Protect your business from the cost of repairs, legal issues that come with accidents, and medical bills that may arise.
Policies to Consider for Landscaping Companies
Contractor’s Equipment Coverage
If any of your equipment is worth over $500, which it probably is, you’ll want to consider this policy when pondering why your landscaping or snowplowing business needs insurance. This policy has your back if your equipment is damaged while being used at your company’s workplace. The insurance company will pay for the replacement or the repair, which could cost thousands of dollars or worse. Your business should also consider leased or rented coverage which will protect your company from being liable and help pay to replace or repair anything valuing, again, over $500. This is important because some companies frequently rent their tools. Protect your business and your employees by getting this coverage.
Contractor’s Tools Coverage
Unlike the contractor’s equipment coverage, this policy helps to repair or replace tools less than $500. Landscaping companies use smaller tools all of the time and should keep that in mind when considering why your landscaping or snowplowing business needs insurance.
Waiver of Subrogation
This basically has to do with liability issues. If both your business and a customer claim to be right in a situation, basically claiming that the other is liable, your insurance company will handle it. If you have waiver of subrogation, your insurance company will basically “release” you from your side of the liability and make the other person in the disagreement actually pay their share. This policy could be very handy for your business if a situation like that were to happen. This is another big reason why your landscaping or snowplowing business needs insurance.
Additional Policies to Consider for Snow Plow Companies
Pickup Truck Insurance, Truck Insurance, Tow Truck Insurance and More
If your snow plow company uses trucks to haul products for your business, plow snow, or for any other reason, you’ll want to make sure that these vehicles are protected. This protection comes in a few different forms that is typically included in these plans. One is liability insurance, which basically means that if an employee is driving this vehicle and causes injury to another person or damage to that person’s property, your insurance company has your business’s back.
Another policy to consider when looking into why your landscaping or snowplowing business needs insurance is uninsured or underinsured motorist insurance. This is very important because some drivers simply do not have auto insurance and your company could take a hit because of it. This policy protects your business and provides coverage, were the other person to not have it. The third thing is physical damage coverage. This does what it sounds like. It gives your pickup truck, truck, tow truck, etc. coverage in case of a collision or other physical damage. This is another important one to keep in mind when considering why your landscaping or snowplowing business needs insurance. If you own recreational vehicles personally, you will want to consider separate coverage for them.
No matter the season, and no matter you question, we are here to help you with all of your insurance needs regarding your Ohio landscaping and snowplowing business. Get in touch with us today!