Can Your Landscape Business Afford A Property Damage Claim?

Whatever the size or nature of your business, it’s essential that you get protection against property damage claims and liability claims. A single large claim or lawsuit can wipe out a small landscaping business.

Recent studies show that there are more than 500,000 landscape businesses in the US, employing more than a million people. The market size is above $61 billion. However, 72% of this industry is driven by small business owners who face a number of risks. These include financial, liability, strategic, security and business interruption risks, common to most small businesses.

Do you have the right insurance?

Landscape business risks

Landscaping isn’t as easy as people think. For those who aren’t in the industry, it doesn’t look risky. But they don’t know that you could easily damage a client’s property, from pathways to walls, fences, patios and decks. There are also irrigation supplies or decorative water and lighting features.

Working with sharp tools and machinery add another dimension of risk. Does your landscaping business offer tree surgery, mowing or pruning? Then there’s the added responsibility for repair and replacement of both plants and garden features.

Expensive liability claims

So, what kind of threats can result in liability claims against your landscape business?

• Fire, theft or vandalism can cause damage/loss of expensive, specialized tools and equipment.
• Injury to employees or third parties on the job-site.
• Business interruption caused by equipment breakdown can cause financial losses and loss of reputation.
• Vehicle accidents are another potential risk. You or your employees may suffer accidents while driving company vehicles to travel to job-sites.
• Replacement of faulty products such as sod and seedlings if they fail to take root.
• You may rent or lease specialized equipment or vehicles for a project. If these suffer damage, or are vandalized or stolen, your business can be held liable.
• Using harmful pesticides, herbicides or other dangerous products can cause a contamination event.
• Bad design advice may result in damage to existing structures, plants and trees. Typically, flooding in basements, or damage to utility lines could result in liability suits.

All these situations can result in property damage claims or liability claims.

General Liability Insurance

Contractors Liability Insurance protects landscaping businesses like yours from property damage claims and liability claims. However, before buying your policy, be sure that it is tailored to provide coverage for your company’s specific needs.

Yes, a Contractors Liability policy provides coverage for claims against your company for property damage to the client’s property sustained during the course of your work. But, there are many different kinds of contractors: should you be paying for the same coverage as a roofing contractor?

Best rates for protection against property damage claims

Property damage can occur at any time. For instance, if your employee accidentally damages a neighbor’s fence, or a lawn-sprinkler system onsite, or a visitors car is damaged by debris flying out of your site.

Find out more on how to protect your landscape business against liability claims. Get in touch with Contractors Liability at (866) 225-1950 today. Our experienced insurance consultants are here to help get you the best rates for the most coverage.