Don't Be Taken In By Unauthorized Insurance Entities! Insurance fraud costs consumers–businesses included--an additional $1,500 per year in increased premiums. In fact, it can inflate premiums by as much as 30 percent -- National Insurance Crime BureauSmall-business owners often have trouble obtaining ... How Much Car Insurance Should You Buy? Car insurance is one of the most dreaded chunks in your budget. And depending on which state you live in, it could be a smaller or larger chunk of your budget than your neighbors across state lines. How much insurance should you buy? Any insurance agent ... Purchasing Insurance Insurance is an important part of any comprehensive financial plan. Insurance answers the question, "what if the unthinkable happens?” But too many people avoid it because they see the expense but not the benefit or they simply don't want to think about ...
"Types of Insurance for the Lawn Care Business"
I know what you might be thinking is, "I don't need insurance". Want to make your life uncomfortable? Let your mower throw a rock and hit a child. I've had rocks break several windows in my day, but I am so lucking it didn't hit anyone. Look into insurance! I've had several people contact me about what insurance is needed for the lawn business. Here are some explanations. General Liability- for damage to someone or their property. Government and large businesses require liability insurance of 1 million coverage. Health- If something happens to you while working, you need to make sure your health insurance will cover you if you can not work. Workers compensation- Compensates employees for work related injuries and illnesses. Some states don't require this type of insurance. Where I live (TN), workers comp is not required for less than 5 employees. Cost of workers comp varies by state. Business Auto- covers company vehicles. Cost depends on: Type Size Number of vehicles How far it's driven everyday What it's haulingBusiness Owners Policy(BOP)- Package insurance which includes: 1.General Liability 2.Business Interruption Insurance- replaces business income and pays expenses such as equipment, office rent, fire, theft, orother loses. Cost $300- $400 a year. Surety Bond -Covers the hiring contractors should you default on the job. Occasionally, this may be required for commercial jobs. Once you become established they may waive the bond. Surety bonds are generally not needed for residential accounts, unless you are applying pesticides or herbicides. Ask your insurance agent. Unless you have expensive equipment, I would think about not insuring the equipment, but to not insure you must always lock equipment with locks that are fast to open and close. I use the locks with the 3 numbers(Masterlock) or key locks, never do combination. Takes too long to open. Before I started locking my equipment down, I had equipment stolen from my trailer. Later on my trailer was stolen even being locked. Lawn equipment is stolen a lot. More than you probably think. How long do you think it take to drive past a truck andsteal a $500 blower? About 5 seconds. When looking for insurance there are 2 classifications. 1.Insurance agents- Usually represent 1 company 2.Insurance brokers- Represent many different companies. I like working with brokers since they are on your side and shop several companies for quality and price. Always get 4 or 5 quotes because prices can vary greatly. I know what you might be thinking is, "I don't need insurance". Want to make your life uncomfortable? Let your mower throw a rock and hit a child. I had rocks break several windows in my day, but I am so lucky it didn't hit anyone. Look into insurance!Best of Luck! ABOUT THE AUTHOR Kevin Whiteside is the owner and editor of www.LawnForum.com Monthly,an online newsletter for lawn and landscape professionals.Get a FREE subscription here mailto:LawnForum@aweber.comHe is also the author of "Turn High Grass Into Cold Cash- How toStart the Ultimate Lawn Service" http://www.GrassToCash.comYou can use this article as long as the bylines are included.
Insurance News
FDIC chief: End plan needed - Boston Globe WASHINGTON - The head of the FDIC yesterday said the government needs to devise an "exit strategy" for its massive financial rescue plan to avoid artificially propping up banks and other institutions long term. The Federal Deposit Insurance Corp.'s ...
Insurers like Obama health plan, with reservations - Ann Arbor News WASHINGTON (AP) — The insurance industry embraced many of President-elect Barack Obama's ideas for better health care coverage Wednesday, though it opposes a key piece of his plan to require employers to help pay for that coverage. The industry ...
Price guidance set for Citigroup bond sale - IFR - Reuters NEW YORK, Dec 2 (Reuters) - Price guidance on a bond sale by Citigroup (C.N: Quote , Profile , Research , Stock Buzz ) was set on Tuesday, a day after the bank said it planned a three-part debt sale that will be guaranteed by the Federal Deposit ...
Northern Rock promises to hold off repossessions for 6 months - MyFinances.co.uk Using Mortgage Finder to find the best mortgage and remortgage deals could save you thousands of pounds. Find the right cheap mortgage or cheapest remortgage. Northern Rock has pledged to stop repossession actions until a mortgage borrower is six ...
EU officials robustly defend pricey coffee machines - International Herald Tribune BRUSSELS : The European Commission on Wednesday defended its decision to spend about €100,000 on coffee machines found to have high concentrations of heavy metals in the water they used. But the commission said more tests were needed to determine ...
Video: You Can Save Money on Auto Insurance!! - Yahoo Finance NEW YORK, Dec. 3 /PRNewswire/ -- The Insurance Information Institute says there are five things consumers can do to cut auto insurance costs. But it is important to evaluate each one to be sure it will work for you. Consider raising your deductible ...
Zurich Surety, Credit and Political Risk names John Pellew ... - Earthtimes SCHAUMBURG, Ill. - (Business Wire) Zurich’s North America’s Surety, Credit & Political Risk group today announced the appointment of John Pellew as underwriting manager – excess of loss credit insurance. In this newly created role, Pellew will ...
ND budget boosts child health insurance - In-Forum BISMARCK, N.D. North Dakota Republican Gov. John Hoeven's budget plan includes a proposal that many Democrats have advocated for years. It broadens eligibility for a health insurance program for children that's financed by the state and federal ...
