The Importance Of Business Insurance For Landscapers
Owning a landscaping firm means being involved in the design of the environment featured in a given community. Because different types of clients request your services, you face the risk of being liable if someone gets injured because of your equipment. For example, if one of your clients’ kids trips up on a wired cable that wasn’t properly buried underground, you’ll be responsible for the bodily damages inflicted, and unless you’re insured, your company will suffer considerable losses. This article discusses why you need business insurance.
Your activity is subject to unique risks
Completing landscaping projects exposes you to a number of unique risks, mainly because you’re serving the client at their property. Whether these risks occur due to circumstances that were or weren’t in your control, you’ll still be liable according to the law. Imagine, for example, that while redesigning a public park one of your employees accidentally hits and leaves a visible mark on the water fountain featured in the park Fun88. The park management company will immediately pursue legal action to make you pay for the incurred repair costs.
Having professional liability insurance in this type of situation will protect your firm from being hit financially because of the related legal costs and/or the claim that you’ll be asked to settle. Yet, property damage claims aren’t the biggest threat to your company’s financial stability.
Protect your business against bodily injury claims
Bodily injury claims are by far the most costly type of lawsuit that might be thrown at you. This is because you might be required to provide financial assistance to the injured party who needs immediate medical attention, and also because of the significant fees that will be generated in the lawsuit. In addition, if the victim has suffered extensive bodily damages that call for frequent medical assistance, your total bill will be even higher.
Another aspect of business insurance that you’re strongly recommended to consider is workers’ compensation coverage, which will safeguard your company if one of your staff members gets injured while working on a landscaping project.
As you might see, there are two types of business insurance that you must have when providing landscaping design services. While the focus is often placed on the property and bodily damages from which clients might suffer, it’s also important to think about the landscaping professionals since they’re the ones performing the projects. So make sure your business is protected today by signing up for professional liability and workers’ compensation insurance.