If you’re a business owner, insurance can sometimes be one of the biggest challenges when it comes to running a successful company.

From having the right coverage to saving on costs, there’s a lot to navigate. To start, do some research to find out what coverage your specific business needs. Then, review your current policy to see if you’re totally covered or if you should up your policy or switch insurers.

To help, here are a few things to consider when it comes to your business insurance.

What you’ll need

Generally speaking, most landscaping companies will need a package of insurance policies to cover them in case of emergency, injury or accident.

• General liability: General liability insurance can protect your company from bodily injury, property damage, personal injuries and other claims that could happen on the job.
• Commercial auto: If you’re using your personal truck or vehicle for your business or if one of your employees uses their personal vehicle for the business, your personal auto policy might not cover you.
• Workers compensation: Because landscaping is such a physical job, once you have employees, getting workers’ comp coverage is probably a good idea, as it can cover medical costs, lost wages, ongoing care, legal costs and more. 

How to save

• Don’t shop around every year. Insurance companies can see how often you’re switching insurers, so if you’re constantly shopping around, insurance companies might not offer you as competitive of a quote. Find the insurer and coverage you like and try to work with them to get a better rate year-over-year.
• Find industry-specific coverage. You can get generic business coverage, but taking the time to find coverage specific to the landscaping industry will ensure you get the right coverage for your business.
• Look for package discounts. Packaging coverage is a great way to lower costs. Once you’ve figured out the types of coverage you need, work with your insurer to create the perfect package for you.
• Seek professional advice. Insurance is challenging enough, and when it comes to insuring your company there are so many factors to consider. If you want to ensure the safety of your business, schedule an appointment with a business advisor or insurance broker to get advice specific to your business.

Getting, keeping and paying for business insurance can be daunting. Thankfully, you’re not alone. There are a variety of resources and coverage options available to small business owners. As a business owner, it’s critical that you take the time to find the right coverage for your company.

How have you handled getting business insurance? Let us know in the comments below.