Understanding Landscaping Insurance
It really doesn’t matter how much experience you have or how careful you are, there are going to be unforeseeable accidents and mistakes that arise on any job site. This is especially true for landscapers in the Ontario area. Are you truly prepared for these risks? Do you even know what type of protection your current coverage offers? Most landscapers don’t and this puts them even more at risk because they probably aren’t covered to the fullest. This is why it is imperative to understand your risks and what landscaping insurance covers.
There really is a lot of confusion surrounding landscaping insurance in Ontario. And, here is where most of the confusion lies. When someone talks about landscaping insurance they aren’t actually referring to one specific type of insurance policy. Instead landscaping insurance is a number of policies that have been combined together. For instance landscaping insurance could be an insurance plan that is bundled with commercial general liability insurance, commercial property insurance, and professional liability insurance. You need to understand each individual offering and how it can protect you and your employees.
What Does Commercial General Liability Insurance Cover?
Commercial general liability insurance for landscapers is a specific type of policy that can protect you and your employees in the event that they cause property damage or bodily injuries to a customer. For instance, if one of your employees hit a client with a lawnmower or damages a plant, this policy will kick in and cover the medical and repair expenses. This type of policy also offers protection against advertisement slandering. For instance, if you post an ad saying that you offer the cheapest rates in the area, another competitor might feel like your ad compromised their good name. In return they could officially file a lawsuit against you saying that you slandered their name and hurt their reputation.
The video below from ehowfinance breaks down contractor CGL insurance.
General liability insurance will not only cover the court costs of the ordeal, but it will pay for a lawyer as well. There are some insurance providers that will go as far to offer coverage in the event that you lose the suit.
What Does Professional Liability Insurance Cover?
Professional liability insurance is often times referred to as malpractice insurance or errors and omissions insurance. Any insurance expert will tell you that this insurance policy is without a doubt necessary for any landscaper in the Ontario area. In fact, law in Ontario requires it. Even though the law requires it, this insurance can offer much-needed protection that you need in a variety of situations. This policy protects you in the event that you or your employees make a mistake on the job and that mistake results in a financial loss to the customers.
For instance, if you spray the wrong chemical on a customer’s lawn and kill half their yard, this policy will pay to cover the repair damages. It also protects in the event that your work causes bodily harm. If a customer claims that a chemical you used on the lawn causes his or her dog to get sick, this policy will kick in and offer the protection that you need. If the dog die the client might even take the case to court.
In this event error and omissions insurance will offer the same protection as general liability insurance. It will cover lawyer fees and court costs.
What Does Commercial Vehicle Insurance Cover?
Landscapers have a lot of equipment that they haul around on a daily basis. Most of this equipment will require special trucks and trailers. In these situations there are always a number of risks that you will face on a daily basis. Not only will you be at risk of being involved in a vehicular accident, but also there is always a chance that a piece of equipment could fly loose and hit a parked or moving car. Commercial auto insurance will offer protection in both of these situations. It will pay to have the damages repaired and it will pay for any medical expenses that the involved individuals experience. Checkout III’s website to learn more about what should and should not be included in your commercial auto policy.
What Does Workers Compensation Insurance Cover?
If you are going to have employees under your belt you are going to need workers compensation insurance. This is a specific type of possible that was specifically designed to protect your employees. Your employees handle potentially dangerous equipment on a daily basis and it is not unrealistic to think that they could get be injured on the job. Regardless, of how careful they are or how much experience they have, there is always a risk and this is why it is good to carry workers compensation for all your employees. This type of policy will cover your employees in the event that they are injured on the job.
If an employee is injured by a piece of equipment or is hit in the face with flying debris, this policy will kick in and offer the required protection. It will cover their medical expenses, wages while they are off work, it will settle death suits and disability cases, and it will offer the same kind of court protection as the other polices mentioned above.
Tools And Equipment Insurance
A landscaper’s tools are his or her life. Without their tools they couldn’t do their job and this is why it is extremely important to protect those tools. Your tools are probably at the most risk when you are transporting them from job to job, but this is where tools and equipment insurance can offer the pertinent protection. Tools and equipment insurance will cover equipment damages, accidental loss, theft, and vandalism of your tools while they are in transit.