Why You Need Landscaping Insurance in Newfoundland and Labrador
A beautiful landscape is a work of art and many people in Newfoundland and Labrador enter the landscaping business because it is satisfying and challenging. However, landscapers face a number of risk factors in their line of work. This creates the need for insurance that is customized for your business. In fact, without the right coverage, you could be taking huge chances with your future. Let's take a look at Charles L, for example.
Charles loved landscaping and he had a natural talent for beautifying the world around him. He could look at a tired and unattractive landscape and see all of its amazing potential in his mind. He also had the ability to place those thoughts and dreams onto paper and turn them into reality. His business grew by word of mouth and before long, there were more requests than he could handle, so he expanded his business and hired more people.
One day, during a landscape project, one of his crew members was digging to install plumbing for an outdoor fountain, when he accidentally struck a sewer line. Normally, this would just be a minor inconvenience, but the sewer line was not far from a nearby lake. In fact, the contamination ran downhill and into the lake. This resulted in an extensive (and expensive) cleanup procedure. Thankfully, Charles had to foresight to use an insurer that provided expert loss prevention and mitigation services.
Charles' insurance expert told him about the importance of environmental impairment coverage with his lawn care insurance policy. This coverage paid for the problem and Charles was able to stay in business.
Who Needs Landscapers Insurance?
These businesses should consider this insurance:
- Small landscapers
- Landscaping contractors
- Tree trimming and removal services
- Lawn care companies
- Retaining wall and drainage specialists
- Basement repair and waterproofing services
- Architects and home designers
- Nursery and plant businesses
Standard Coverage for Landscaping Insurance
One landscape service may specialize in gardens while others may focus mainly on trees and lawns. Because there are so many differences, a standard policy really does not exist. However, most landscape oriented business will need these coverage options:
- Commercial Property Insurance - Will provide cover for your business property such as your buildings, business contents, stock and tenants improvements
- Commercial Auto Insurance - Whether you use your own car or a fleet of vehicles to get the job done, we can find the right coverage for you to protect your business from liability, bodily injury, comprehensive and collision coverage and more.
- Business interruption - covers the loss of revenue your business will suffer if you are shut down after a loss.
- Commercial General liability - protects you from liability claims for bodily injury and property damage arising out of premises, operations, products and completed operations; and advertising and personal injury liability.
Options For Lawn Care Insurance
Your insurance needs are usually dependent upon the services that you provide. For example, if you trim or remove trees, you may want to take out additional liability coverage. After all, one accident with a large tree can ruin an entire house or result in fatalities. You also may need these options:
- Contractors Equipment or Tool Floater - protects your tools and equipment that you routinely bring to and from your jobs (while they are in transit) and if you must store them temporarily at the job site.
- Contractor's Equipment Rental Reimbursement - Will you need to rent equipment to complete your contracts while your equipment is being repaired after a loss? If so, you will requie rental reimbursement cover.
- Errors and Omissions Insurance - Was there a flaw in your design that lead to damage? If you do your own design work you will require this cover.
- Installation floater - similar to a builder's risk policy but is used to cover both owned and non owned property being installed, fabricated or erected at a job site. Also provides transportation coverage to and from a job site.
- Surety bonds - if you are a contractor you may want to protect jobs that you bid on or are working on. Bid bonds ensure clients that you will start and complete the job or they will be reimbursed. Performance bonds ensure the job will be completed once you have started.
- Environmental impairment liability - pays for on and off-site cleanup, bodily injury and property damage liability as a result of pollution and environmental hazards.
- Cyber liability - How do you store your employee and customer data? How do you protect this data from a privacy breach?
Where Can I Find The Best Landscaping Insurance?
Since there are no "one size fits all" insurance policies for your business in Newfoundland and Labrador, you should seek out the help of loss prevention experts like Wedgwood Insurance Limited. We are a full service independent insurance agency that helps our customers meet or exceed all their risk management objectives.
The Wedgwood team is there to get you affordable rates on lawn care insurance because we have several top insurance companies available for you. We will find you the best policy to protect your interests. In addition, we have risk management experts to help you understand all the risks your business faces, and the best ways to prevent losses.
Our services are not just about selling insurance coverage. We provide risk management advice to help you avoid loss and mitigate loss should it occur. Why shop for landscapers insurance blindly, when you can have an entire team on your side? Call the Wedgwood team at 709-753-3210 for all the details!