Lawn Care Business Forum Lawn Care Business Book Lawn Care Business Blog Lawn Care Software
Home Forum Contract & Flyer Templates Blog Software Videos Podcast Calculators / Estimators Store Mower Review Design It Yourself Lawn Business School

Go Back   GopherHaul Landscaping & Lawn Care Business Marketing Forum > Business > General Business Discussions

General Business Discussions A place to talk about general business discussions.

16 most common questions answered


General Business Discussions

A place to talk about general business discussions.
Reply
 
Thread Tools Search this Thread
  #1  
Old 10-13-2003, 06:47 PM
Steve's Avatar
Steve Steve is online now
Administrator
 
Join Date: May 2003
Posts: 36,816
Rep Power: 10
Steve has disabled reputation
Default







&nbsp
How often have you had questions about business insurance but just didnít get around to asking your agent. Itís possible you are just starting out and donít have insurance yet. As we have found through our investigation on this topic, no one knows better what your insurance needs are than your local insurance agent. Each companyís needs are as unique as the services they provide. Each state will also have different insurance requirements of you.
Since these questions come up quite often, we decided to compile a list of the most common insurance questions asked by owners of LCOs (Lawn Care Operations) and found a friendly insurance agent, James E. Brown of Kiely Hines & Associates located in Louisville, KY to give us answers.

&nbsp

1. Q: How does an LCO determine which liability policy should be purchased? What percentage of LCO's have the following coverage? $500,000.00, $1,000,000.00 or $2,000,000.00

Answer: Most all carry $2,000,000 the difference in premium is minimal between 1 & 2 million worth of coverage.

2. Q: What is a reasonable rate for a $500,000.00 / $1,000,000 / $2,000,000 liability insurance policy?

Answer: Rates are based either on number of employees or sales. For an operation with 4 employees an approximate premium would be $2500.

3. Q: How much more on average is a $10 million or $20 million dollar liability policy, what percentage of LCO's have this coverage?

Answer: Most lawn care companies donít carry these high limits.

4. Q: What is the average LCO deductible for liability and theft?

Answer: I recommend carrying deductibles of $1,000

5. Q: How does a LCO's business size effect their liability insurance needs?

Answer: The larger the company the better ability we as insurance agents have to market them and get credits for their insurance.

6. Q: Is it a good idea to get your business liability insurance through your homeownerís insurance carrier. Why or why not?

Answer: No, it is better to have your liability insurance separate from your homeowners due to the limits on your homeowners.

7. Q: Does snowplowing effect your insurance needs if so how?

Answer: Yes it will increase rates 8-10%.

8. Q: Does applying pesticide effect your insurance needs if so how? Does using "restricted use pesticides" increase my premiums?

Answer: Yes it increases premiums slightly however if you get into tree spraying it greatly restricts the markets.

9. Q: Does installing sidewalks, ponds or pools effect your insurance needs if so how?

Answer: It only affects rates if you install swimming pools.

10. Q: Does using an ATV in your business effect your insurance needs if so how?

Answer: Not really

11. Q: Does hanging holiday lighting effect your insurance needs if so how?

Answer: No

12. Q: If damage to a customer's property occurs, at what dollar amount is it worth it to file a claim on the damage? How will this effect future rates?

Answer: $1,000. Insurance companies worry about the frequency of claims.

13. Q: If a piece of your equipment is stolen at what dollar amount is it worth it to file a claim on the replacement cost? How will this effect future rates?

Answer: $1,000.

14. Q: Is it advisable if you provide aeration services to have customers sign a liability waiver for buried / non-visible items that might be damaged?

Answer: It helps but most of the times you will still be found responsible for damages.

15. Q: What are the liability pitfalls of using a personal truck to perform commercial duties?

Answer: Your personal insurance can deny any claims if you are in the course of your employment. Also a personal umbrella does not cover business liability.

16. Q: What are the biggest mistakes the average LCO makes when it comes to insurance?

Answer: Not talking an agent and telling the agent what they are doing so, the agent can make sure there are no gaps in coverage.



&nbsp
What are some insurance issues that you have experienced? Are there questions you have about insurance that we didn't cover?
&nbsp


Questions / Comments?, please contact us.
Reprint permission granted in part or whole when the following credit appears: "Reprinted with permission from www.gophersoftware.com (©2003 Ditech 888-606-5150)."
__________________
- Subscribe to my Lawn Care Marketing Blog Feed and get daily tips sent to you. Free!
Download your Free trial of Gopher Lawn Care Software.
Reply With Quote

Stop guess-timating. Learn how to estimate and make money! $$$
Mow Time Estimator Lawn Care Price Estimator Mulch and Topsoil Calculator Snow Plow Estimate Calculator


Reply

Bookmarks

Tags
insurance question

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Forum Jump

» Recent Threads
  RatingTitle, Username, & Date Last Post Replies Views
TaskEasy & Plowz & Mowz...
jrwalker333
Yesterday 01:02 PM
Yesterday 01:02 PM
by jrwalker333
0 36
These are the days on...
ExtremeLawncareServices
01-11-2015 11:41 AM
Yesterday 09:34 AM
by ExtremeLawncareServices
9 468
second year advise
cmdlawncare
01-23-2015 06:22 PM
01-24-2015 11:42 PM
by jrs.landscaping
3 117
Lawn care truck
Steve
10-10-2009 03:40 AM
01-24-2015 10:54 PM
by Chilehead
39 15,795
What happened to Better...
Steve
01-27-2014 04:07 PM
01-24-2015 01:13 PM
by WesleySnips
16 2,983
need advise
rawssrob
02-23-2010 02:45 PM
01-23-2015 06:40 PM
by cmdlawncare
7 2,507
please Help with none...
Lawnboyman1170
01-09-2015 09:46 AM
01-23-2015 03:39 PM
by burnell76
7 444
does this sound good or...
Bradcook21
01-22-2015 09:24 AM
01-23-2015 02:02 PM
by Steve
8 225
New to forum
ROB N
01-23-2015 08:35 AM
01-23-2015 01:53 PM
by Steve
1 81
Looking for advice on...
berryjam
01-21-2015 07:37 PM
01-23-2015 01:50 PM
by Steve
9 244
Extending the life of...
rmccutchan
01-17-2015 12:37 AM
01-23-2015 01:43 PM
by Steve
8 307
osceola lawn service
jasa@wildblue.net
01-22-2015 03:23 PM
01-23-2015 01:38 PM
by Steve
1 107
How many contracts...
5StarLawnscaping
01-12-2015 03:51 PM
01-23-2015 08:46 AM
by jrs.landscaping
8 429
Tax Question
Wolf4dk
01-20-2015 01:11 AM
01-22-2015 02:28 PM
by Steve
4 216
Billy Goat Vac
Mr. Mow
01-19-2015 07:42 AM
01-22-2015 02:18 PM
by Steve
6 216
"Part Timers", "Low...
doug1980
06-10-2009 12:55 PM
01-22-2015 02:09 PM
by biglee
39 10,104
Property Pricing
GVL
01-19-2015 02:46 PM
01-21-2015 02:18 PM
by Steve
5 263
Landscapers Source For...
breadcrumb
01-16-2015 02:44 PM
01-21-2015 05:55 AM
by breadcrumb
14 412
Hoa advice
Bradcook21
01-16-2015 09:36 PM
01-20-2015 04:30 PM
by Steve
4 255
My Invention
biglee
01-11-2015 07:51 PM
01-20-2015 10:16 AM
by biglee
16 590
How to beat the pre pay...
stansg1fresh
01-13-2015 04:33 PM
01-19-2015 03:38 PM
by ringahding1
3 326
Hello from Md
homey
12-17-2014 06:55 PM
01-19-2015 01:37 PM
by Steve
12 1,102
Hi from Illinois
burtle
01-02-2015 09:46 PM
01-19-2015 01:22 PM
by Steve
3 489
Hello from SW FL!!
5StarLawnscaping
12-05-2014 02:35 PM
01-19-2015 01:20 PM
by Steve
14 1,419
Lost my @#$ blower
stevef1201
01-11-2015 08:31 AM
01-17-2015 02:21 PM
by lxarth
2 354
Another Illinoisan.....
barhopper
01-11-2015 05:38 PM
01-16-2015 04:29 PM
by Steve
10 403
marketing with pizza...
apmAkron
01-15-2015 09:57 AM
01-15-2015 06:29 PM
by Steve
4 244
CRM and Quickbooks?
5StarLawnscaping
01-15-2015 08:06 AM
01-15-2015 08:06 AM
by 5StarLawnscaping
0 175
New Member, Indiana Iraq...
Timbo
07-14-2011 09:44 AM
01-14-2015 06:14 PM
by Steve
10 3,770
check this box truck out!
BLAZIER-1991
01-07-2015 07:40 PM
01-13-2015 03:06 PM
by biglee
8 609
My community only ad...
googus
01-12-2015 09:55 AM
01-13-2015 02:44 PM
by Steve
5 303
12 Years in Business!
Chilehead
10-23-2014 09:07 AM
01-13-2015 09:37 AM
by Chilehead
18 1,778
use a small business...
BLAZIER-1991
12-25-2014 12:21 AM
01-12-2015 06:32 PM
by BLAZIER-1991
30 1,531
tips on creating a...
BLAZIER-1991
01-08-2015 07:22 PM
01-12-2015 06:19 PM
by BLAZIER-1991
4 447
During Your Down Time
achri12
12-24-2014 03:03 PM
01-12-2015 03:54 PM
by Steve
10 1,063
Leaf cleanup
Bradcook21
01-09-2015 02:21 PM
01-12-2015 12:22 PM
by Jamesw86
4 413
Has Anyone Used Plowz ?
dpld
01-08-2014 12:14 PM
01-11-2015 02:17 PM
by burtle
20 3,333
What to pay help
Bradcook21
01-07-2015 01:32 PM
01-08-2015 07:01 PM
by Steve
1 455
Need a trailer
googus
01-07-2015 09:40 AM
01-08-2015 10:24 AM
by Upscale2
7 554
Do you guys charge buy...
burtle
01-02-2015 09:58 PM
01-07-2015 08:37 PM
by Shark1611
14 908
Organic Lawn Care...
NHray
10-17-2014 07:05 PM
01-07-2015 07:05 PM
by greyhound
18 2,145
Need advice please
CHenricks
01-06-2015 01:17 AM
01-07-2015 03:34 PM
by Steve
4 524
Mowing 2 acres
Bradcook21
01-05-2015 03:13 PM
01-07-2015 03:32 PM
by Steve
9 658
Ideas on a large bid
Knaubone
12-21-2014 11:57 AM
01-06-2015 03:55 PM
by Steve
5 974
Trailer with 4ft sides...
mayala030292
01-02-2015 09:01 PM
01-06-2015 03:33 PM
by Steve
5 606
A tip to get good...
biglee
01-04-2015 12:07 AM
01-06-2015 03:30 PM
by Steve
4 587
Work Shoes!
rsanchez1203
02-19-2013 12:07 PM
01-05-2015 09:18 PM
by Havanese2
13 7,437
EDDM post cards
hemiman
02-13-2014 06:36 PM
01-05-2015 04:22 PM
by Steve
14 2,397
Cleaning your Mower and...
MNK
01-03-2015 01:22 AM
01-05-2015 09:17 AM
by rmccutchan
10 747
where to find more...
BLAZIER-1991
01-02-2015 12:17 AM
01-04-2015 12:51 PM
by BLAZIER-1991
6 630
» Popular Tags
2wd 4x4 aerocore apartment bid apartment complex auger bark billy goat brushcutter blades bush collections deliquentaccounts ditches employee problems equipment rental estimate first truck flyers foreman georgia google gopherhaul grass gravely growing a lawn care business hills hiring husqvarna jobs john deere quik trac landscape services lawn lawn care lawn care business podcast lawn care business seo lawn care business show lawn care business website lawn care business website seo lawn care website lighting brass outdoor lights marketing mr dave mulch new mower per hour charge per hour service podcast pricing pto push versus ride running a business savannah search engine optimization seo shell small engine repair square foot starting a business starting a lawn care business start up lawn care business steep lawns sulky theft toro grand stand trailer tree trimmer rack up sell employee walk behind web design
Powered by vBadvanced CMPS v3.1.0

All times are GMT -5. The time now is 01:01 AM.


(C) 2011 Riggs Publications - Terms of use & Privacy Policy

All times are GMT -5. The time now is 01:01 AM.

(C) 2011 Riggs Publications - Terms of use & Privacy Policy