Are you aware of how to get landscaping insurance? Additionally, are you aware of the different types of insurance policies or coverage there is available for landscaping businesses?
As a Landscaping business owner, you know that you must have a BOP, or business owner’s policy, in order to legally operate your business. While you may have already considered commercial auto insurance to protect your vehicles on the job, have you thought about adding landscaping workers compensation to your policy?
What is Landscaping Workers Compensation?
There are many situations where landscaping workers compensation can help your employees, while preventing your business from experiencing serious loss. If you’re not familiar with worker’s compensation insurance quite yet, we’ve referred to the IRMI’s definition to help break things down:
“The system by which no-fault statutory benefits prescribed in state law are provided by an employer to an employee (or the employee’s family) due to a job-related injury (including death) resulting from an accident or occupational disease.”
In a general sense, workers compensation insurance protects employees for when they become ill or injured during work. If an employee wanted to come after your business with a lawsuit, landscaping workers compensation insurance can prevent you from going under.
At our insurance agency, we believe it is critical for all landscaping businesses to have landscaping workers compensation on their insurance policy. Landscapers face many risks in a general sense, considering that you operate heavy machinery, complex equipment and tools, and landscapers face environmental hazards on a regular basis. If something were to go wrong with one of your workers while they were on the job, this type of policy would protect you, bottom line.
How much is Landscaping Workers Compensation?
Generally speaking, the price of workers compensation insurance varies by state, and by company/industry based on your individual risks. Although, here in Connecticut, the average cost of workers compensation is $1.15 per $100 in employee wages. Although, when thinking about the price of landscaping workers compensation insurance, it’s also important to consider the price of not having this coverage on your insurance policy.
Think about it this way, if one of your employees were to have an accident on the job that they could sue your business for, that could be a detrimental loss that you may not be able to bounce back from. Is it really worth it to save a few extra dollars on insurance premium if your landscaping business is vulnerable to this sort of loss? We believe workers compensation coverage is an absolute necessity for any landscaping business here at our insurance agency.
How to Get Landscaping Insurance
If you’re looking to learn more about how to get landscaping insurance or how landscaping workers compensation can help your landscaping business or looking to get a free quote from one of our licensed insurance agents, click the button below to get started today!