Choosing insurance for your small business can be a challenging task. Search online and find coverage for all contingencies. Alternatively, consult with a local insurance carrier that can evaluate your business needs and provide policies that will protect your tree service from financial loss related to fire, flooding, theft, accident, terrorism and business disruption. An annual review of your insurance coverage will ensure maintenance of adequate coverage as your business grows.
Worker’s Compensation Insurance
All employers are mandated by state law to pay worker’s compensation insurance to protect their employees on the job. Tree service can be dangerous and strenuous work that presents a high probability that employees will be injured. Workers can experience back strain or injury lifting heavy equipment or tree sections. Incidents with power saws, axes and trimmers can result in cuts or eye injury from fly debris. Workmen’s compensation insurance pays for medical costs incurred from on-the-job injuries and compensates employee for time lost due to accident or injury. If as the owner of the business, you are not covered under worker’s compensation insurance, it is prudent to carry personal health and disability insurance.
Liability Insurance
Although every foreseeable precaution is in place, accidents happen. If your tree service fells a tree that drops on a home or automobile, or causes injury to others, liability insurance provides protection. Many small businesses invest in a “Million Dollar Umbrella” policy that protects the business from liability from unplanned events. Liability insurance also protects the business in the event customers or sub-contractors incur an injury at your place of business.
Fleet Insurance
Commercial auto insurance covers all your company vehicles in the event of an accident. Insurance Finder is an online insurance broker that allows you to easily compare policies and coverage for your commercial vehicles including autos, trucks, vans and mobile tree trimming equipment.
Property Insurance
Property insurance provides coverage for your tree service place of business, tree trimming equipment, office equipment and office contents in the event of fire, flooding, hurricanes or other weather-related catastrophes. Business insurance also provides protection from external or employee theft, acts of terrorism, civil unrest or disruption or loss of business from any covered event.