Whether you’re just starting to do business or renegotiating your current coverage, your arborist business requires tree service insurance that protects you, your employees, your equipment and, of course, your clients. If you’re lucky, you’ll never need to cash in a policy, but that doesn’t mean you shouldn’t be prepared.
Liability Insurance
Liability insurance is important for any business owner, but it is an especially important tree business insurance. Liability coverage protects your business in the event that you are responsible for damage to the client’s property or for bodily injury caused by your actions.
In addition to general liability, professional liability and product liability policies are necessary. Professional coverage protects you from issues related to negligence or giving poor advice to your client. Product insurance protects you if you sell items, such as fertilizers or sprayers, that cause damage or injure someone.
Equipment Insurance
As the owner of a tree removal company, protecting the equipment you use is essential. Equipment insurance can help you pay for the repair or replacement of your heavy machinery and other items if they become damaged. When purchasing this policy, read the fine print. There may stipulations about how much the insurance company will pay and for what reasons they will pay.
Commercial Vehicle Insurance
Your tree service insurance package must include commercial vehicle insurance. Keep in mind that your personal car insurance policy will not cover your work trucks or vans. Commercial vehicle coverage not only protects your vehicle but protects you in case you’re at fault in an auto accident. Your policy can protect you from a lawsuit or help you pay the medical bills if you injure someone else in a car accident. It can also help you repair or replace your vehicle if you are in an accident. Like an equipment insurance policy, be sure to read the fine print so that you know exactly what you’re paying for.
Business Interruption Insurance
Tree removal companies thrive in areas that often see severe storms and tornados or hurricanes. Unfortunately, operating a business in these areas leaves you susceptible to becoming a victim of the very thing that helps your business succeed. For this reason, your arborist insurance package should include a business interruption policy. Business interruption coverage protects you in the event that damage to your company’s main office leaves your business temporarily inoperable. It can help you continue to pay employees, pay rent or mortgage payments and much more. It may even help you temporarily relocate your business.
Workers’ Compensation Insurance
Chances are your company has employees. You need to protect them and yourself when you’re on the job. A workers’ compensation insurance policy funds medical expenses and salary for any worker who is injured on the job. Many states have laws governing whether you must provide this insurance and, if so, how much coverage you must have. Even if you aren’t required to purchase it, a strong workers’ compensation policy looks good to potential employees and helps you bring in a better caliber of applicant.
When purchasing tree service insurance, be sure to research the agency first. Look for an insurance company that is licensed, is experienced in providing coverage for businesses like yours and has excellent references from current and former clients. A great company helps to ensure that your own business thrives.
