How much does basic liability insurance cost?

[tomstrees]

What would be the least amount you would need to be spending on liability insurance doing some tree work to cover possible accidents? Also what is really meant by various types of insurance? When I had landscaper's insurance, it really didn't cover tree work, and seemed to be geared to just covering you enough to say that you were insured?

 

[Reach]

That seems to depend on the area you work in, and what all you do. When I owned the two landscaping companies as well, as long as trees constituted less than 10% of our annual gross, they were covered under our landscapers policy. Now that we only do trees, that’s changed. I don’t remember what the policy minimum was as it’s been a while since we were near a minimum policy, but I’m thinking it was somewhere in the $2k per year range.

 

[evo]

You’re just now asking?

 

[AdkEric]

What would be the least amount you would need to be spending on liability insurance doing some tree work to cover possible accidents? Also what is really meant by various types of insurance? When I had landscaper's insurance, it really didn't cover tree work, and seemed to be geared to just covering you enough to say that you were insured?

There are a lot of variables. As Reach said, your location and the scope of your work are important factors. Coverage limits are a factor. My insurance agent asked if I use cranes, bucket trucks, other types of lifts. What my projected gross sales would be annually. If I use subcontractors at all. Would I be doing strictly residential work, commercial work, any work near highways or powerlines?

Mine costs just shy of $2k/year. I'd say that's a good ballpark figure for a liability policy for tree work. You can't afford not to have coverage at that price, especially considering that most companies will offer an installment plan if you don't want to pay it all up front.

 

[B_Strange]

I went through Rick Weden at Corcoran and Havlin as I have a small company, just me, a d he found me a policy from Berkeley which is 1700.00/year for me. I pay monthly. This does not include inland marine as I was not hauling logs, equipment or material at the time. We’ll be adding that coverage next year as the business grows.

The price was based on my gross income, equipment used, and area I worked in.

 

[Fivepoints]

So do you have insurance for the work you have already been performing for other people? How do you have a license if no insurance? Are you thinking about branching out and needing different coverage?

If you don't have insurance here, they will warn you once if they catch you. After that, your going to jail. I've seen it happen in person at a job site next to where we were working. No insurance=no license here. Working as an unlicensed contractor if caught=jail time.