**NOTE: Limits, conditions, and requirements for insurance can vary, depending on several factors. Below are general definitions of coverages. For more information about what kind of insurance is right for your business, please speak with one of our helpful IGO Insurance Representatives.**
To keep your business profitable, be prepared for accidents and common risks. Protect yourself from major financial losses by carrying business insurance for your landscaping company.
Property Insurance Covers your commercial property at your headquarters. Everything from tools to office computers if stolen, damaged in a fire, or harmed in a weather event would be covered by Property Insurance. (Not all weather damage is covered, so talk with us about to what's protected under your policy.)
Inland Marine: A policy that helps cover your business tools, equipment, and property while it's located at your client's property or in transit. For example, if your tools were stolen from a jobsite, Property Insurance wouldn't cover it. Inland Marine Insurance is the policy designed to cover that type of risk. Because landscapers are always hauling their equipment to and from jobs, Inland Marine Insurance can help cover your risk exposure for theft and damage that occurs while your equipment is away from your HQ.
Inland Marine covers your equipment including: Lawn Mowers * Weeders * Tractors* Edgers * Airators * Back Pack Blowers
General Liability: A policy that provides the following coverage:
• Property damage: Includes damage to public or third-party property caused by you or your employees
• Bodily injury: Covers bodily injury or death to a third party caused by you or your employees
• Products/completed operations: Covers any products or completed work that your company sells
• Advertising injury: Covers you if your advertising causes harm to the reputation of another person; includes slander, libel and false claims about business competitors in your advertising
Commercial Vehicle: As a landscaper or lawn care provider, you most likely spend a lot of time in your vehicle traveling to different jobs. When you drive, you are at risk of a commercial vehicle accident during the course of business. Your personal auto policy will most likely not provide coverage if you're using your personal vehicle for commercial use. Make sure you have all your cars, vans, trucks and trailers insured with a commercial vehicle policy. Any vehicles you use for business purposes can be added to this policy. We can help you design a customized commercial vehicle policy that can protect one or more of your landscaping vehicles.
Workers' Compensation Insurance is mandatory insurance carried by many businesses and is required by law in almost every state, including North Carolina. These laws are designed to ensure payment by employers for some part of the cost of injuries received by employees in the course of their work. It can also protect your business from being sued by employees for workplace conditions that can cause an injury or illness.
Life Insurance includes several products: Universal Life, Term Life, Whole Life, Buy-Sell, Key-Man, and Final Expense Insurance. Life insurance falls under two general categories: term insurance and permanent insurance. *
• Term Insurance is designed to meet temporary needs. It provides protection for a specific period of time (the "term") and generally pays a benefit only if you die during the term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.
• In contrast, Permanent Insurance provides lifelong protection. As long as you pay the premiums, and no loans, withdrawals or surrenders are taken, the full face amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time.
* Which type of life insurance and coverage is right for you depends on your unique circumstances and financial goals. The best way to determine the amount and type of life insurance that makes sense for your particular situation is to meet with a qualified life insurance professional.
Disability Insurance helps protect a portion of your income and provides financial protection if you become disabled for an extended period of time. Disability insurance is a great option for anyone who depends on their income to pay their bills or wants to maintain their lifestyle.
Long Term Care Insurance helps provide the cost of care not generally covered by health insurance or Medicare. A person who requires long- term care is unable to perform the basic activities of daily living. According to the 2014 Medicare & You National Medicare Handbook, Centers for Medicare and Medicaid Services, Sept 2013, the average cost of a semi-private room in a nursing home in NC cost $82,125 annually. In SC, the same semi-private room averages $67,525.