There are nearly 10,000 landscaping firms in the state of Massachusetts. These businesses generate about $3 billion in revenues every year. If you own a landscaping company, you can benefit from the protections offered by a comprehensive landscapers insurance policy.
Local independent insurance agents can explain your many options when it comes to landscapers insurance. They can also help you find the best and most affordable coverage so that your business can remain profitable, even in times of trouble. Contact an insurance agent near you to learn more.
What Is Landscapers Insurance?
Landscapers insurance is a general term used to describe a business owners policy (BOP) or a business insurance policy package that has been specially customized to meet the specific coverage needs of landscaping businesses.
Why Is Business Insurance Important for Landscapers in Massachusetts?
There are many things that can go wrong when you own a landscaping business. Consider how you would handle the following scenarios if your business were uninsured.
- You accidentally clip someone’s car with a trailer while you are towing equipment to a job site, and this leads to a multi-car collision.
- Thousands of dollars worth of equipment is stolen while in temporary storage near a job site.
- Heavy winds from a hurricane cause significant damage to your lawncare equipment.
- One of your employees is diagnosed with a serious illness caused by frequent exposure to pesticides.
- A former employee accuses your company of wrongful termination.
These are just a few examples of the many potential problems that can cause your landscaping company to suffer serious financial setbacks. Fortunately, if you are covered by the right insurance policies, your business will be shielded from significant losses.
How Much Does Landscapers Insurance Cost in Massachusetts?
The cost of landscapers insurance can vary from one company to the next. Factors that can influence rates include the following.
- The size of your business, how long it has been in operation, and its expected annual revenues
- The value of your business assets
- The number of employees you have
- The number and types of vehicles used by your business
- The amount of liability coverage you want to purchase
- Your company’s claims history
Most landscaping firms are small and may only pay about $200 a month for full coverage. However, a large business with several employees may pay more than $1000 a month.
To find out how much a policy will cost you, you will need to request customized quotes from a few competing insurance providers. Independent agents can save you time and money by doing the comparison shopping on your behalf.
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What Does Massachusetts Landscapers Insurance Cover?
When you build your policy package, you will only need to buy the coverage that is relevant to your particular landscaping business. Independent insurance agents can help you determine which types of policies you need and which you can do without.
A basic business insurance policy will provide the following coverage.
- Commercial property insurance: This covers your business-owned property like tools and equipment if it is lost or damaged due to a covered event.
- Commercial general liability insurance: This covers your business against many common liability risks such as if a customer is injured at your place of business or if your company is accused of copyright infringement for an advertisement it ran in a local paper.
You can then supplement this coverage with additional policies when appropriate. For instance, you may want to consider adding these policies.
- Contractors tools and equipment insurance: This is a form of inland marine insurance. It can cover your tools and equipment if they are stolen or damaged while away from your place of business.
- Workers’ compensation insurance: This can cover medical treatments and lost wages if an employee is injured on the job or is stricken by an occupational illness. In Massachusetts, this coverage is required if you have at least one employee.
- Employment practices liability insurance (EPLI): This can protect your business if a current, former, or prospective employee makes an accusation of illegal employment practices like discrimination, or wrongful termination.
- Commercial vehicle insurance: If your business owns a vehicle or fleet of vehicles, they must be covered by an insurance policy that meets or exceeds the state’s minimum coverage requirements.
- Public liability insurance: This can cover your business if a customer or another third-party interest sues your business for an injury or property damage that can be attributed to landscaping work your company performed.
- Environmental liability insurance: This can cover your company’s financial obligations if it is accidentally responsible for the pollution of the land, water, or air. This is particularly important if your business sprays pesticides or other toxic chemicals onto lawns.
A local independent agent can explain more about each of these coverage options and can identify which are a good fit for your landscaping business.
An Independent Agent Can Help You Find the Best Landscapers Insurance in Massachusetts
If you are looking for affordable landscapers insurance coverage, look no further than a local independent insurance agent. These agents can recommend the right insurance products for your business and can shop around to find the policies you need at the lowest available prices.
There are nearly 1,300 independent agents in Massachusetts so it should be easy to find one with an office near you. Discover how easy it can be to get the best coverage by talking to an independent insurance agent today.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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