Missouri Landscaping Insurance: Compare Costs & Quotes

For landscapers in Missouri, transforming properties into lush, inviting landscapes is an artform. But protecting your business requires more than pruning trees and mowing lawns. As a landscaping contractor in the Show Me State, you need proper insurance to shield your company from unforeseen risks. This article uncovers what Missouri landscapers pay for insurance based on factors like revenue, staff size, and services offered. It also provides tips to control costs while securing adequate protection. With the right coverage from a specialist, you can focus on growing your landscaping firm instead of worrying about risks.

For landscapers in Missouri, having the right landscaping insurance coverage is essential. This usually includes general liability protection for landscapers to protect against third-party claims and workers’ compensation coverage for landscaping businesses to cover employee injuries on the job.

Key Statistics about Landscapers in Missouri

• There are over 5,000 landscaping companies in Missouri, mostly small businesses with 1-4 employees.

• Average annual revenue for Missouri landscaping firms is around $250,000.

• Typical starting salaries for landscapers range from $30,000 to $40,000 in Missouri.

• Key risks facing Missouri landscapers include property damage, employee injuries, natural disasters, equipment theft, and claims from chemical applications.

• Missouri’s moderate climate allows landscapers to operate most of the year. But winter months are slower.

• Common services offered include lawn mowing, planting, hardscaping, irrigation, snow removal, and maintenance.

• Missouri has experienced increased demand for landscaping services in recent years. But labor shortages make hiring difficult.

• The landscaping industry in Missouri is projected to grow over the next decade as property investments rise.

• Landscapers in Missouri often serve both residential and commercial clients. Major markets are Kansas City, St. Louis, Springfield and Columbia.

• Missouri landscapers must contend with unpredictable weather, including severe thunderstorms, flooding, ice storms, and even the occasional tornado.

Key Factors Influencing Insurance Costs

In Missouri, typical insurance policies for landscapers include general liability, commercial auto, workers’ compensation, equipment/inland marine, and bonds. Costs depend on these key factors:

• Location – Insurance prices vary across Missouri based on crime rates, weather risks, and local legal environments. Rural areas are generally cheaper.

• Payroll Size – More employees mean higher premiums, especially for workers’ compensation.

• Revenues – Landscapers generating higher revenues pay more as they are perceived as larger risks.

• Industry Experience – Newer landscapers usually have higher premiums than established firms.

• Claims History – Frequent past claims drive costs up. A clean history provides savings.

• Services Offered – Specialties like tree removal carry more risks and higher premiums.

• Equipment Values – Insurers charge more to cover expensive tools, vehicles and machinery.

• Coverage Limits – Higher liability limits cost more but provide greater protection.

• Deductible Levels – Choosing a higher deductible reduces premiums but increases out-of-pocket costs if a claim occurs.

• Discounts – Factors like safety programs, association memberships, and bundled policies may warrant discounts.

Small Landscaping Business Insurance Costs

Profile:

• 1 Owner
• 1-2 Employees
• $150,000 Annual Revenue

Typical Policies and Estimated Premiums:

• General Liability

  • $1,000 to $1,800 annually
  • Provides $1 million per occurrence coverage

• Workers’ Compensation

  • $2,000 to $3,500 annually
  • Covers injuries and illnesses suffered on the job

• Inland Marine (Equipment Coverage)

  • $750 to $1,500 annually
  • Insures tools, machinery, and vehicles from damage or theft

• Commercial Auto

  • $1,500 to $2,500 annually per vehicle
  • Covers vehicles used for business purposes

• E&O (Errors & Omissions)

  • $500 to $1,500 annually
  • Protects against liability claims from professional mistakes

For small Missouri landscapers, packaged business owner’s policies (BOPs) are common. BOPs combine general liability, property, and inland marine into one simpler policy. Premium discounts are often available. Expect annual BOP costs ranging from $5,000 to $8,000 or more for a solo operator.

Medium Landscaping Business Insurance Costs

Profile:

• 1 Owner
• 3-5 Employees
• $500,000 Annual Revenue

Typical Policies and Estimated Premiums:

• General Liability

  • $2,800 to $6,400 annually
  • $1 million per occurrence coverage

• Workers’ Compensation

  • $6,100 to $10,000 annually

• Inland Marine

  • $2,500 to $5,000 annually

• Commercial Auto

  • $1,800 to $3,000 per vehicle annually

• E&O

  • $1,000 to $2,500 annually

• Cyber Liability

  • $750 to $1,500 annually
  • Covers data breaches and hacking

• Commercial Property

  • $1,500 to $3,500 annually
  • Protects business property like offices from damage

For mid-size Missouri landscaping companies, BOPs also provide efficiency. Expect premiums ranging from $10,000 to $20,000 annually for bundled coverage. Umbrella liability policies are also common to provide extra protection beyond general liability limits.

Large Landscaping Business Insurance Costs

Profile:

• 1 Owner
• 5-10 Employees
• $1,000,000+ Annual Revenue

Typical Policies and Estimated Premiums

• General Liability

  • $4,700 to $11,700 annually
  • $2 million per occurrence coverage

• Workers’ Compensation

  • $10,100 to $15,700 annually

• Inland Marine

  • $5,000 to $10,000 annually

• Commercial Auto

  • $2,500 to $4,000 per vehicle annually

• E&O

  • $2,500 to $5,000 annually

• Cyber Liability

  • $1,500 to $3,000 annually

• Commercial Property

  • $3,000 to $7,500 annually

• Employment Practices Liability

  • $5,000 to $10,000 annually
  • Protects against employment lawsuits

• Umbrella Liability

  • $2,500 to $5,000 annually
  • Provides extra liability coverage

For larger Missouri landscaping operations, packaging coverages in a BOP is less common. Individual policies priced separately are typical. Expect total annual premiums ranging from $50,000 to $100,000 or more for full protection.

Additional Insurance Coverages

Besides the main policies above, Missouri landscapers should consider these optional coverages:

• Pollution Liability – Covers bodily injury and property damage from chemical applications. This is crucial for landscapers offering fertilization or pesticide services. Premiums often range from $1,500 to $7,500 or more annually.

• Flood Insurance – Insurers typically don’t cover flood damage under standard property or inland marine policies. This add-on protects equipment and buildings from flood-related loss. Expect around $500 to $2,500 or more per year depending on flood risk.

• Business Owner’s Policy (BOP) – Bundles property and liability coverages for easier management. BOPs offer premium discounts. For Missouri landscapers, annual premiums range from $5,000 for small firms to $25,000 or more for bigger companies.

• Employment Practices Liability – Protects against employment lawsuits alleging discrimination, harassment, wrongful termination, etc. Critical for larger landscapers with multiple employees. Average annual premiums range from $2,500 to $20,000 based on staff size.

• Builders Risk – Covers construction projects against property damage while work is ongoing. This is beneficial if you do installing hardscapes, irrigation systems, water features, etc. Premiums vary based on project size and complexity.

• Cyber Liability – Safeguards your business against cyber attacks, data breaches and electronic theft. Essential for landscapers relying on computers to store client data and operate equipment. Expect annual premiums starting around $500.

How Insurers Determine Landscaper Premiums

Insurers analyze several factors about your Missouri landscaping business when pricing policies:

• Claims History – Landscapers with past claims usually pay higher premiums. Clean loss run history provides discounts.

• Services Offered – Specialties like tree removal or chemical applications carry greater risks than basic lawn mowing. More hazardous work leads to higher premiums.

• Equipment Values – Total value of insured tools, vehicles and machinery influences premiums. Higher values mean larger potential payouts.

• Number of Employees – Additional staff increase risks, especially for workers’ compensation. Insurers charge more to cover extra employees.

• Payroll Size – Workers’ comp premiums derive directly from payroll amounts. Bigger payroll equals higher premium.

• Revenue Size – Landscapers generating more revenue are viewed as larger risks due to expanded operations. Revenue size can significantly impact premiums.

• Location – Geographic location affects premiums based on local risk factors like crime, weather, lawsuits, etc. Rural areas generally have lower premiums.

• Industry Experience – New businesses usually pay more until they build experience and credibility. Long-operating landscapers often qualify for discounts.

• Coverage Limits – Higher liability limits cost more but widen protection. Evaluate appropriate limits with your insurance advisor.

• Deductible Levels – Choosing higher deductibles reduces premiums but increases out-of-pocket costs if a claim occurs.

• Discounts – Factors like safety programs, association memberships, and bundled policies may warrant discounts.

Getting the Right Insurance for Your Landscaping Business

As a Missouri landscaper, partnering with an independent agent or broker specializing in landscapers is key to securing adequate, affordable insurance. They have access to leading landscaper carriers and expertise designing tailored coverage. Be sure to discuss:

• Getting all key policies professionally quoted. Don’t just renew.

• General liability limits needed for typical contracts. Avoid being underinsured.

• Local risk factors that may warrant extra coverage.

• Competitive options for workers’ compensation. This is a large expense.

• Whether flood insurance or pollution liability should be added.

• Potential discounts like multi-policy, association memberships, safety programs, etc.

• Appropriate deductibles levels to balance premium costs with risk tolerance.

This expertise ensures your landscaping firm gets comprehensive protection without overspending. An advisor makes insurance simple and removes guesswork.

Tips for Controlling Landscaper Insurance Costs

Beyond working with a specialist, here are some tips to manage insurance costs as a Missouri landscaper:

• Implement robust safety protocols for employees, equipment use, driving, job sites, etc. Document procedures. This demonstrates risk management and may lower premiums.

• Avoid frequent small claims that drive up experience modifiers. Self-insure for minor mishaps.

• Raise liability deductibles to reduce premiums, but consider cash flow impacts.

• Take advantage of discounts like bundled policies, trade associations, and safety training.

• Compare quotes and seek competing bids at renewal. Don’t automatically renew.

• Ask about dividend plans from insurers which return premium if claims stay low.

• Enroll in premium payment plans to spread costs over time rather than one lump sum.

• Consider exclusion endorsements to restrict certain coverages if permitted.

• Implement controls to reduce fraud and claims – background checks, drug testing, probationary periods for new hires, etc.

Conclusion

For Missouri landscaping contractors, proper insurance is fundamental to safeguarding your business. While premiums rise with growth in payroll, revenue, employees and equipment values, work with a specialist to control costs without sacrificing adequate coverage. They can tap quality carriers and optimize policies to fit your precise exposures and risk appetite. Invest in the right insurance so you can focus on growing your Show Me State landscaping company.