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5 Tips to Determine the Right Insurance Needed for Your Lawn Care Business

As a lawn care business owner, you need comprehensive insurance coverage. The question is, what kind of insurance is needed for your lawn care business? From policy types to coverage limits, insurance providers, and premiums, several factors go into determining the right insurance plan for you.

Lawn care insurance graphic

However, getting cost-effective insurance that provides adequate coverage can be time-consuming and confusing. That’s why we have put together these five tips. They will simplify the process of understanding your insurance needs and help you find a policy that’s tailored to your needs.

1. Identify Your Risks

The first step to determining what insurance is needed for your lawn care business is assessing what needs coverage. As you decide what needs coverage, consider your services and associated risks. Where are you most likely to suffer financial damages?

Areas of high risk for lawn care businesses include worker injury, equipment, and company vehicles. Pesticides can also pose a risk if that’s a service you offer. For example, if you lay pesticides that unintentionally run off into a water supply, you could be held liable.

2. Look at Your Coverage Limits

Your identified risks should give a general idea of how high your coverage limit needs to be. To get a more precise idea, combine your annual gross revenue with the value of the properties you’re servicing.

If you’re unsure the number you come up with based on your identified risk and calculations is enough coverage, sit down with a licensed insurance advisor. They can help you make an appropriate coverage decision.

It’s vital to determine an appropriate coverage limit accurately. If you underestimate how much coverage you need, you’ll be financially responsible for paying out of pocket once claims filed against you exceed your limit. 

Tip: Review and update your insurance coverage regularly! You may have started with a small amount of coverage when you first launched your business, but if you grow, the properties you are now servicing might be underinsured.

3. Implement Risk Management Practices

Solid risk management practices can make you less of an insurance risk and lower your premiums or keep them from increasing. Some examples of effective risk management practices for lawn care businesses include:

All lawn care businesses face risks from worker injury, third-party injury and dissatisfaction, equipment ownership, and the inherent risks of running a business. If you can plan ahead by taking measures to mitigate your risk, you’re setting yourself up for success.

4. Decide What Insurance is Needed For Your Lawn Care Business

Now that you’ve considered your risks, your necessary coverage limit, and taken measures to mitigate risks that could drive premiums up, let’s take a look at what insurance is needed for a lawn care business. Here are six common types of insurance lawn care business owners invest in.

Compare use cases to determine the insurance needed for lawn care business
Personal vs. Commercial Auto Insurance: NerdWallet

An insurance expert familiar with your business operations can help you decide which policy or combination of insurance policies is needed for your lawn care business. 

“A major concern in the market is a great number of insureds mistakenly believe they are covered for pollution releases under general liability and property policies. However, these policies either restrict or exclude such coverage, leaving their policyholders exposed to potentially costly risks.”

- Center For Insurance Policy and Research

5. Ask Questions and Consider Your Options

As you start to shop around for insurance policies, it’s important to get several quotes so you have a general idea of what you can expect to pay for the coverage you need. If you don’t have time to call many providers, you can work with an insurance partner that doesn’t charge broker fees. This will allow you to consider multiple options in one place. 

Remember to ask any questions you have, especially if something doesn’t seem right. If you’re not getting the answers you need, don’t hesitate to reach out to a licensed insurance expert like our team at CoverHound

Make the Right Insurance Choice for Your Lawn Care Business

Finding a cost-effective insurance policy that covers your business’s needs can be daunting. CoverHound is an online platform that streamlines your search process, making it easy to compare insurance costs between providers and receive personalized, scalable solutions. 

Learn more about how CoverHound can help you find the right insurance for your lawn care business!

Insurance shopping simplified

Review personalized quotes, select coverages, and buy online - Everything insurance, all-in-one-place.

Insurance shopping simplified

Review personalized quotes, select coverages, and buy online - Everything insurance, all-in-one-place.

Insurance shopping simplified

Review personalized quotes, select coverages, and buy online - Everything insurance, all-in-one-place.
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