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4 Basic Insurance Policies for Greenhouses and Nursery Garden Centers

Basic Insurance Policies for Greenhouses and Nursery Garden Centers

Having the right insurance for your business plants the seed for a stronger financial future.  When a costly claim or lawsuit is made against your business, even basic coverage can help dig you out of a financial hole.  This liability and workers’ comp insurance covers the costs when certain unexpected situations happen.

Below we provide an overview of four basic insurance policies – general liability, property, commercial vehicle, and workers’ comp – that can help safeguard your horticulture or plant grower business.

General Liability Insurance

If a third party claims your employee or work environment caused them injury or physical damage to their property, you might be held liable for paying the bill(s).  Even if not at fault, these claims are common and can be costly.  For example, a customer breaks their arm from slipping and falling on wet leaves in the aisle of your nursery garden center.

To protect your business against the high costs of property damage, bodily injury, and personal or advertising injury claims, general liability insurance is necessary.  This popular policy covers the costs of related legal fees, third party medical expenses, and much more.

Property Insurance

Structures, stock, equipment, and other business property can be expensive to repair or replace.  This property loss often results from fire, extreme weather, and theft.  During winter, for example, a greenhouse roof collapsing from the weight of snow and ice damages your stock, supplies, and everything else it crashes on top of, in addition to interrupting your business operations.

In case of an unfortunate incident,  property insurance is designed to help you get back to business after a loss of your stock, structures, equipment, or commercial and  business personal property.

Commercial Vehicle Insurance

If an employee causes an accident when delivering plants, going on a sales call, or driving a company vehicle for any business related purpose, you could be responsible for paying the damages.  These costs significantly increase when a third party is injured as a result of the accident,.

For greenhouse and nursery garden centers with traveling employees, a commercial vehicle insurance policy is essential.  This policy covers the expense of physical damage repairs to a covered auto, as well as the potential defense and payment of bodily injury claims to a third party.

Workers’ Compensation

Using sharp gardening tools, lifting heavy equipment, spraying chemicals on plants, and other daily tasks could result in injury or illness for an employee.  Even with safety procedures in place, accidents can still happen.  For example, an employee is hurt after tripping on a hose being used by another employee to water plants. When  employees are  hurt on the job, this policy covers the resulting medical costs and lost income during recovery, as well as potential litigation expenses.  Workers’ compensation is a legal requirement in most states, and a necessary policy when running a business with paid employees.

These four fundamental insurance policies better protect horticulture and plant grower businesses.  To fill any gaps where you would not be financially protected, additional coverage can be added to each policy.

Find insurance coverage for your business.  NIP Group’s GrowPro insurance program includes general liability, property, commercial vehicle, workers’ comp, and other important coverages that can be custom-tailored to your operational and financial needs. For information on insurance coverage specific to your needs, visit nipgroup.com/programs/growpro or contact your broker.

Please note: All coverages are subject to conditions, coverage limits, limits of liability, limitations, and exclusions as contained in the policy.

4 Fundamental Insurance Policies that Protect Cleaning and Maintenance Service Businesses

Basic Insurance that Protects Cleaning and Maintenance Service BusinessesFor a cleaning or maintenance service company, it only takes one messy situation to leave a mark on your balance sheet.  Damages to a client’s property, damages to your own commercial property, and injuries are, at times, unavoidable risks that can wipe your business out financially. When a claim is made against your business, having even the most basic insurance can help you avoid financial loss.

Below are four fundamental insurance policies – general liability, property, commercial vehicle, and workers’ comp – that help protect cleaning or maintenance service businesses.

1. General Liability (GL) Insurance

This coverage protects your business from property damage, bodily injury, and personal or advertising injury claims. If your employee is cleaning a floor and a client slips on it, for example, you’re covered. GL insurance by itself, however, is not enough to keep your business out of financial harm.

2. Property Insurance

If you own commercial cleaning equipment or operate your business in a commercial space, property insurance may benefit you. This coverage is there to back you up financially when a fire, vandalism, theft, or certain other unexpected situations cause commercial property loss or damage (e.g., your expensive cleaning equipment is stolen).

3. Commercial Vehicle Insurance

You could be liable if an employee causes an auto accident while driving to the next job. The cost of damages from a crash or fender bender makes commercial vehicle insurance important for businesses with traveling employees.

4. Workers’ Comp Insurance

This insurance is the protector of your most important asset – your employees.  Even with safety procedures in place, frequent exposure to cleaning chemicals, wet floors, cleaning equipment, heavy lifting, and other daily tasks can still result in an employee injury. When this happens, workers’ comp is there to pay the resulting medical costs, legal fees, and other related costs.

Although there are other insurance policies your business may need, these four are important to consider.  Maintaining a clean claims history can help lower insurance costs, so it’s recommended to standardize and follow safety procedures specific to the risks of your business. With insurance and effective risk management, your business is set up to avoid a financial mess.

Looking to clean up your balance sheet?  Check out NIP Group’s MaintenancePro insurance program that includes general liability, property, auto liability, workers’ comp, and other insurance policies custom-tailored to your cleaning or maintenance service business need.

Please note: All coverages are subject to conditions, coverage limits, limits of liability, limitations, and exclusions as contained in the policy.