DeanBrown3D
ArboristSite Operative
I'm in need of some insurance for a few tree jobs, but I only do this occasionally, so I was wondering what kind of insurance options I have in NJ? I may only do one job a month.
Thanks,
Dean
Thanks,
Dean
Can you get insurance on a per-day basis?
- Thread starter DeanBrown3D
- Start date
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elmnut
ArboristSite Operative
talk to the home owner about getting a "rider policy" for you. I have heard guys talk about this but not sure if it is true or not.
newb
ArboristSite Operative
Check into a landscaper policy. If your main business isn't trees you could get away with it and save alot of money.
Stumper
One Man Band
Also speak with your agent about a rider on YOUR homeowner policy. A lot of companies offer a liability rider for home based businesses. -unfortunately most exclude service type businesses( they are happy to cover you if you sew doll clothing or something safe and innoccuous) but it is worth the inquiry.
woodchux
Addicted to ArboristSite
Whatever you do....
Don't convince yourself that you can't afford it.
You can't afford Not to have it in this biz.
Don't convince yourself that you can't afford it.
You can't afford Not to have it in this biz.
toscottm
ArboristSite Member
Half Pregnant
Dean,
While it is obvious that you are trying to keep costs down, be sure to weigh the risks fully. You suggest that you 'work' only a few days a month, however this comment indicates that you are guilty of a very common misperception. Business activity is business activity. Yes, some will be more hazardous than other aspects, however it is incorrect to think that liability can only arise as a result of workmanship.
Tree work is certainly hazardous and poses the greatest risk of causing injury or damage to others. However there is also some risk in other activity that will be conducted while 'doing business'.
It would be ironic to see you arrange insurance for the duration of a project (let's say a Saturday), only to find you sued for an 'incident' you cause on a Tuesday going about general business (i.e. dropping a coffee into the lap of the accountant helping you with your books, tripping a little old lady with your briefcase while at the bank to meet the manager and discuss a loan for some equipment, etc.).
Often seasonal businesses will approach insurance with the attitude that their 'risk' only exists during the working period (i.e. summer). While I suspect that your involvements are truly 'irregular occurrences', this reply to your post is intended to help others (and you if you become more involved) recognize that there are risks associated with workmanship as well as 'every day' risks.
As for the insurance solution, most insurers base their premium on annual revenue. A business doing $1,000,000 a year pays 10 times as much for their insurance as a business doing only $100,000 in sales simply because they are 10 times as busy and therefore 10 times more likely to cause an accident. Obviously other factors come into play such as history, qualifications, etc., however this will be the starting point. Also, most insurers have a minimum premium. In Canada, $1,000 is typically the starting point.
Keep this in mind!
Scott
DeanBrown3D said:
Dean,
While it is obvious that you are trying to keep costs down, be sure to weigh the risks fully. You suggest that you 'work' only a few days a month, however this comment indicates that you are guilty of a very common misperception. Business activity is business activity. Yes, some will be more hazardous than other aspects, however it is incorrect to think that liability can only arise as a result of workmanship.
Tree work is certainly hazardous and poses the greatest risk of causing injury or damage to others. However there is also some risk in other activity that will be conducted while 'doing business'.
It would be ironic to see you arrange insurance for the duration of a project (let's say a Saturday), only to find you sued for an 'incident' you cause on a Tuesday going about general business (i.e. dropping a coffee into the lap of the accountant helping you with your books, tripping a little old lady with your briefcase while at the bank to meet the manager and discuss a loan for some equipment, etc.).
Often seasonal businesses will approach insurance with the attitude that their 'risk' only exists during the working period (i.e. summer). While I suspect that your involvements are truly 'irregular occurrences', this reply to your post is intended to help others (and you if you become more involved) recognize that there are risks associated with workmanship as well as 'every day' risks.
As for the insurance solution, most insurers base their premium on annual revenue. A business doing $1,000,000 a year pays 10 times as much for their insurance as a business doing only $100,000 in sales simply because they are 10 times as busy and therefore 10 times more likely to cause an accident. Obviously other factors come into play such as history, qualifications, etc., however this will be the starting point. Also, most insurers have a minimum premium. In Canada, $1,000 is typically the starting point.
Keep this in mind!
Scott
DeanBrown3D
ArboristSite Operative
Ok thanks all, I will make enquiries with my homeowner's insurance.
Are there any insurance company names that come to mind in the NJ area that you could recommend, if my homeowners doesn't work out?
Cheers for the good advice,
Dean
Are there any insurance company names that come to mind in the NJ area that you could recommend, if my homeowners doesn't work out?
Cheers for the good advice,
Dean
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