Garden centers and nurseries carry a wide range of products, and many provide different services for their clients. Your business has a higher risk of injury and accidents due to the tools and equipment used on your property. You are also responsible for the safety of your customers as they browse around your inventory. In addition to that, your employed workers must be protected from accidents. If you want to protect your business, you will need to know the common risks facing your nursery or garden center.
Keep Your Business Protected
The garden center and nursery businesses are in a unique situation. You are growing plants, trees, and flowers to sell to your customers. At any given moment, there are heavy pieces of equipment moving inventory and dangerous tools in use throughout your property. You also have customers walking around and looking for the right products for their homes. With all these factors, there is a chance of an accident at your business. You need to keep your business protected from any unexpected bodily injuries to customers and workers.
If you are sued, that lawsuit can put a strain on your business. You need to consider purchasing insurance to help with court costs, legal fees, and economic damages. With any business decision, you want to make sure you have the right coverage for your company.
Premises Liability
With clients on your property, you could be held responsible for any injuries or damages at your business. In all states, the property owner must make reasonable efforts to maintain a safe environment for all visitors. If you have hazardous on-site conditions, then you could be sued under the guidelines for premises liability. It is your responsibility to inspect the property for any dangerous situations and keep the grounds in safe shape. For those owners who fail to do this, they can be held liable for injuries and damages from those hazardous conditions.
General Liability Is a Must
Along with upkeep on your property, you need to protect your business with general liability insurance. This policy will cover an accident that occurs at your nursery or garden center. One of the most significant risks to your business is personal injury to your customers. For that reason, it is vital to have liability insurance for your company. There are many hazards on your property. For example, you can have a customer looking at a rake or shovel. That item can fall on the customer and cause harm. As a result of that, the medical costs will be your responsibility.
If you work with contractors or clients, this policy might be required to do business with them. This type of insurance will pay for medical costs and protect your assets if someone is injured on your property. It can also protect your assets if your employee injures someone or damages property while working. Most general liability policies do have coverage for premises liability. In most cases, your business will be covered from bodily injuries or property damage at your place of business or the customer’s home.
Equipment Breakdown Risks
Many garden centers and nurseries own expensive equipment, and there is always the chance of the equipment breaking down. With a garden center, you need to worry about tractors, greenhouses, and other materials on your property. If they stop working, you will not be able to properly care for your inventory or move it for your customers to purchase. When these pieces of equipment stop working, you could lose thousands of dollars in revenue.
An insurance policy can cover all your business equipment. In addition to heavy equipment, insurance will also protect your office equipment, computers, electrical systems, heating and cooling, watering systems, and any other vital equipment. You will always want to check with your insurance agent about the proper coverage for your business. In most cases, the policy will cover the cost of replacing or repairing the equipment, the labor costs for a professional to repair your equipment, business income assistance from loss of operation, and other financial assistance.
Damaged Products
With any nursery and garden center, you have a large inventory of flowers, trees, and plants. All these products can be damaged by extreme weather or a natural disaster. Your business carries a higher risk of fire with products like fertilizer and chemicals. You need to think about adding business property insurance to your existing policy. With this policy, your products, tools, and buildings will be covered in the event of extreme weather or other natural phenomena. The plan will often pay for repairs or the costs to reimburse your inventory.
Keeping Your Employees Safe
Nurseries and garden centers require their employees to do some dangerous work. Your employees are working around hazardous equipment, tools, and chemicals throughout the day. All of these situations can lead to accidents or bodily injuries. In most states, you are required to carry workers’ compensation to protect your employees. This policy will help to cover medical costs and other fees due to injuries. Workers’ compensation will protect your business from work-related injuries and cover any medical expenses. In addition to that, this insurance will also pay for the employee’s lost income.
Stolen Property
In some cases, your stolen inventory will be covered by business property insurance. However, you might want to consider adding crime insurance to protect you from vandalism or employee theft. These incidents can cause your business to lose profits. With some added protection, you can protect your business from the actions of other people.
Avoid These Common Risks with the Right Insurance
All these risks can lead to substantial losses for your business. You want to do everything to keep your nursery or garden center protected. At the Lyman Agency, our agents can help you find the right insurance plan for your business. We can keep you protected from risks that can hurt your growing business.
If you would like to know more about our insurance plans, please take a few minutes to fill out the contact form.
