Lawn Care Business Insurance Basics. Gopher Lawn Care Business Forum Podcast Show
http://www.gopherforum.com – Understanding what insurance you need when you are just starting your lawn care business can be quite overwhelming. I have been able to have a few discussions on landscape contractor insurance over the years to help you understand the topic better. In this most recent discussion I had an opportunity to talk with an insurance agent who sold insurance mainly to the lawn care industry. Here are some of the insights he shared on the Gopher Lawn Care Business Forum that I hope you find beneficial.
What kind of insurance does a lawn care contractor need?
What insurance coverage a contractor needs is dependent on the type of work he or she engages in as well as the risks ociated and protection desired. The general purpose of contractor insurance is to provide financial backing for a contractor who is liable to a client who hires the contractor to perform a certain job. The most purchased type of contractors insurance is general liability insurance. As with other types of insurance, contractor general liability offers the widest protection and is most useful to a company or individual engaged any many facets of contract work. There are maximum payouts on the insurance, generally $1 million to $2 million for each type of protection. Contractors protected by a good plan are usually secured against reasonable financial loss due to problems linked to the contractors work. The most complete protection can be found from adding some more specific types of coverage to the general liability protection.
Lets talk about those some of those more specific types of insurance. How about workers compensation. Can you tell us a little about that?
Workers compensation is a common contractor insurance purchased by many contracting companies for their employees. Workers comp insurance is a compulsory type of coverage. This protection helps the employer cover the financial burden of an employee who is injured on a job. The workers compensation insurance generally offers income, medical and rehabilitation benefits for injured employees involved in work related accidents. Some plans also include a death benefit payable to survivors. Business owners/principles may choose to exclude their payroll (and coverage) in some states, with coverage rated only on employee payroll.
How about inland marine insurance? This isnt one we hear about often but it is helpful to know about.
Inland marine insurance is another specialized type of contractor insurance. This contractors insurance protects goods that are in transit over land. Many contractors move materials and goods routinely and this allows them to expect the high costs of those items. Tools, equipment and installation floaters are all considered inland marine insurance and are considered essential types of insurance for contractor.
What about disability insurance?
Disability insurance is another common type of contractors insurance used by contractors and many companies, for that matter. This provides for the income needs of people displaced from work for a period of time due to injury. It is commonly referred to Accident and Health Protection. Health and life insurance are other types of coverage purchased by contractors.
Another common type of protection for contractor is surety bonds. A surety bond is a financial instrument not an insurance policy. A Surety Bond is a financial instrument utilized to guarantee performance. Say for instance a building developer hires a general contractor and the contractor is unable to perform on his obligation to complete a building on time or as agreed. The developer may look to sue contractor for not performing as promised. A performance bond provides protection for this type of exposures. License and permit bonds are required by the cities, municipalities or state. It guarantees compliance with the local, state, or federal codes. Another reason for requiring a license bond is to provide protection to the consumers. Along with contractor workers comp insurance, many states require contractors to have contractor license bonds.
If you are in need of free lawn care marketing material for your lawn care business, please visit our site at http://www.gophersoftware.com. We have hundreds of free lawn care logo, flyer, door hanger and web templates you can download and use for your lawn care business. We also have free lawn care business contracts, estimate and proposal forms. Download our trial version of Gopher Lawn Care Business Software. Gopher will help your lawn care business schedule and invoice more customers in less time, allowing you more time to grow or enjoy your life. Check out my lawn care business blog at http://www.lawnchat.com and my lawn care business forum at http://www.gopherforum.com
Site of Interest
methicillin resistant staphylococcus aureus
Duration : 0:6:21
[youtube ENkCyETUzCw]
Any suggestions on what to do with my mail?
I'm planning soon to go on the road as a travel nurse. I'm single and I'm going to put all my belongings in a storage unit and only have with me what I can fit into my car.
With a travel nurse company, they will arrange a furnished apartment for free at every assignment site. Each assignment will last 13 weeks, so I can choose places all over the US and potentially be in 4 different corners of the US in one year.
I'm trying to plan ahead the details, and can't figure out how to handle my mail. I don't really want to ask a friend or family member because I feel uncomfortable having someone else handle my mail that might include a lot of financial information……they say that most identitity theft is from someone you know.
I've thought about trying to get all my bankstatements and credit card statements to be "on line" only……..but there will still be mail.
If I rent a po box at every location, that will look suspect and can even affect my credit rating. What to do?
change ur name and order loads from the catologe before u move
References :
I think you should get a po box in one location and let that location be the one where you are the most. Other than that, maybe if you have a parent or sibling that you really trust, they can have it sent to you.
References :
One:
Go into your local bank (assuming that you only have one) ask for the bank manager and explain to him/ her your situation and ask him to hold your bank statements at the branch for you. They should be able to forward all your bank statements from that particular bank to the branch that you bank from.
( ;D I found this out while going through a divorce)
Two:
Get a centralized P.O. Box at a a local post office handler i.e. Postal Annex, Mail Boxes Etc… You know one of those places that has P.O. Boxes/Faxes/Copies/and ships all at the same place.
Not an official USPS , but an authorized dealer. Explain to the owner of that particular establishment your situation. They should be able to recieve and collect all of your mail at thier particular establishment and then on a regular basis or when you specify, forward all of your mail to you at any given address for an additional shipping charge (of course) to where ever you may happen to be or specify.
References :
I am a paramedic and have been relocated to many job sites both within the United States as well as overseas. Once while in Ghana, Africa I had my mail forwarded to my company, to the attention of my supervisor who was happy to collect it and send it to me once a month upon my request. This worked well, but there was some delay.
I have used PO Box Services (google it and see what you come up with) and was satisfied with them. You establish an account, they assign you a P.O. Box address, you change your address to that address and they forward you your mail when you request it. It can be pricey depending on your needs, but most companys let you pick and choose what services you want.
You can put a "hold" with your post office and they will collect your mail for a specified time for you to pick up. I did this once but ran into difficulties when my job stay extended their "holding" period.
Today, I give the key to a trusted friend who collects my mail from the post office once a week. I email him and have him send it to the hotel I am staying at. It works out well. He is complemented that I would entrust him to collect my mail, and I can rest assured that he will likely keep better track of my mail than I would for fear of breaking my trust. I always take him and his wife out for dinner when in town as a thank you for the favor although they really are glad to help. You will be surprised how complemented your friend will be that you ask them for such a favor. Its a win, win situation and much better than relying on unknown PO Box firms.
Enjoy the sites as you journey, the food, new friends and all the money you'll be making!
References :
Paramedic, Vincennes, IN USA