Snow Plow Insurance Louisiana Policy Information
Snow Plow Insurance Louisiana. If you run a business that offers snow removal in LA, then you provide a valuable service to your community that's likely quite profitable at certain times of the year. But are you fully protected from any sort of liability that might be cast on your company if you cause an accident, damage someone else's property or someone slips and falls?
If you offer snow removal services, you are typically required by local and state laws to maintain commercial snow plow insurance Louisiana, or you may be contractually obligated by your client to provide this insurance. Either way, it protects your business from financial fallout if something goes awry during the course of snow plowing.
Snow plow insurance Louisiana protects your plowing operation from lawsuits with rates as low as $317/mo. Get a fast quote and your certificate of insurance now.
What Does Snow Plowing Insurance Provide?
Snow plow insurance Louisiana provides a buffer of protection between your business and your snow removal activities. So much can go wrong when you are removing snow. Snow creates a blanket on the ground that can disguise the layout of the landscape or even cover items of value that you can't see while you plow. This can lead to accidental damage to the property of the client for whom you are plowing. For example, if a thick blanket of snow is covering a feature in someone's driveway, and you plow into it and hit the buried object, you can be found liable for replacing or repairing it. Likewise, if you cause a huge mess on your client's property, you can be held liable for repairing grass or sod that you've damaged, which cuts into your profits.
With snow plow insurance Louisiana in place, your business interests and your property both receive protection. In the event of a claim being lodged against your business, this insurance kicks in and provides legal fees and payouts on your behalf. In the event of damage to your own equipment or vehicles used during snow removal, those losses can be mitigated if you are covering your plowing equipment.
Types of Coverage for Snow Plow Businesses
Snow plow insurance Louisiana can be custom tailored to your specific business needs, but it generally provides for four specific types of plowing coverage, including:
- Business owner's policy.
- General liability insurance.
- Commercial truck insurance.
- Worker's compensation insurance.
Let's look at these in greater detail to see how they can effectively help your business stay afloat if a major claim, accident, or other event occurs.
A business owner's policy, often referred to as a BOP policy, provides protection against liability, property and loss of income. A general BOP policy provides general liability to cover losses caused by your business, including bodily or personal injury, property damage, and even advertising injury claims. Snow plow insurance Louisiana replaces property damaged. This policy is a good option as a basic type of coverage for your snow plowing business.
General liability insurance provides protection for your business when it comes to bodily injury, damage to property, or personal injury to others caused by you during the course of operating your snow plowing or getting from your location to your customer's location.
Commercial truck insurance covers your snow plow or the equipment used to haul it to your work site. It can also cover your commercial truck that's outfitted with a snow plow for seasonal use. This snow plow insurance Louisiana should be maintained on your commercial vehicles year round, not just during the busy season.
Worker's compensation insurance is valuable protection for your employees. If you work on your own, this may not be an issue, but if you have people working for you, then worker's comp provides money to your employees who are hurt or become ill due to something that occurs on the job. It can pay medical costs and even pay lost wages for covered events. This is required for all non owner employees in LA.
How Much Does LA Snow Plow Insurance Cost?
Utilize the services of a commercial agent to find the best snow plow insurance Louisiana for your needs. Your agent can help you understand the different variances between regular business insurance and snow plowing insurance and help you make a determination as to the levels of coverage that you need to have in place at all times. In addition, your agent can compare rates on LA snow plow insurance with more than one insurer, so you get a snapshot of the availability and the prices of policies with more than one company - getting the most for your business' dollars.
Louisiana Economic Data, Regulations And Limits On Commercial Insurance
If you are a business-minded individual who is either thinking about starting a new business or who wants to expand an existing business by opening a division in a new state, it's important to choose a location that offers favorable conditions.
In business, it doesn't matter how high-quality the products and services you offer are, if the products and services don't appeal to the market, you likely aren't going to succeed. With that said, if you are interested in starting a business in the state of Louisiana, having a basic understanding of the economic trends is important.
It's also a good idea to know what type of insurance you'll need to carry, as certain commercial policies are compulsory in the state.
Below, we provide an overview of economic trends of the Creole State to determine if it's the right location for your operation.
Economic Trends For Business Owners In Louisiana
Unemployment rate is a good indicator of a state's economy. The lower the unemployment rate, the more advantageous the environment will be for prospective business owners. Unfortunately, the unemployment rate of Louisiana is higher than the national average; as of December, 2019, the rate was 4.9%, which was 1.5% higher than the national average of 3.5% at the same time.
Additionally, the unemployment rate has increased; it was 4.3% in July of 2019, 4.5% in October, and 4.7% in November of the same year. However, despite this, the unemployment rate has decreased in recent years, which does show promise for entrepreneurs who are thinking about starting a business in the state.
The best spots to start a business in LA are large cities and the suburban areas that surround them. The following cities have seen the most significant industrial growth:
- Baton Rouge
- Lake Charles
- New Orleans
Businesses in various industries do well in the state of Louisiana; however, there are specific sectors that are seeing substantial growth. Those industries include:
- Advanced manufacturing
- Commercial fishing
- Crude oil
- Natural gas production
- Software development
- Water management
Commercial Insurance Requirements In Louisiana
The Louisiana Department of Insurance regulates insurance in LA. Louisiana mandates very few forms of insurance coverage by law. They enforce worker's compensation.
Louisiana requires you to have worker's compensation insurance if you hire even one employee on a regular basis or must be approved for self-insurance. This includes part-time employees, family members, minors, and immigrant employees. It is not required for independent contractors or domestic employees, though you should check to make sure any contractors you have are true contractors, and not employees.
Louisiana also requires all business-owned vehicles to be covered by commercial auto insurance. Other types of business insurance that business owners should carry depend on the specific industry.
Additional Resources For Contractors & Home Improvement Insurance
Learn about small business contractor's insurance, including what it covers, how much it costs - and how commercial insurance can help protect your contracting business from lawsuits.
- Air Conditioning Systems Installation Repair
- Appliance Repair & Service
- Blacksmith & Metal Workers
- Builders Risk
- Building Cleaning & Maintenance Services
- Cabinet Installer
- Cable And Satellite TV Installer
- Chimney Sweep
- Contractor Liability
- Curtain Cleaners
- Deck Builders
- Door And Window Installers
- Dryer Vent Cleaning
- Drywall Contractor
- Electrical Contractors
- Environmental Remediation Contractors
- Fence Installation
- Fire Sprinkler Contractors
- Fire & Water Restoration Contractors
- Flooring Contractor
- Garage Door Installer And Repair
- Glass Contractor
- Glazier Insurance
- Gutter Installation And Repair
- House Cleaning
- HVAC Contractor
- Insulation Contractor
- Janitorial Cleaning Services
- Lawn Care
- Lawn Irrigation Sprinkler System Installation
- Paperhanging Contractors
- Plastering And Stucco Contractor
- Pressure Washing Contractors
- Propane And Fuel Dealers
- Rug, Upholstery & Carpet Cleaning
- Sandblasting Contractors
- Security Alarm
- Septic Tank Cleaning
- Siding Contractor
- Sign Installation & Repair
- Solar Panel Installers
- Snow Plow
- Stone And Tile Installer
- Surety Bonds
- Swimming Pool Contractor
- Swimming Pool Service And Maintenance
- Tree Surgeon
- Tree Trimming
- Tank Cleaners
- Upholstery Shop
- Waste Haulers & Garbage Collection
- Water Well Drilling
- Welding Contractor
- Wildlife & Pest Control
- Window Cleaning
A contractor that wants to begin or stay in business, liability coverage must be obtained for the premises or operations, off-site locations and products/completed operations exposures. These coverages may be included as a part of a businessowners policy (BOP) or purchased in a commercial general liability (CGL) policy. Owners and contractors protective liability and railroad protective liability coverages may also be required in certain cases in order for a contractor to obtain a particular job.
Physical damage coverage for tools, supplies and equipment, both on and off the contractor's premises, is a concern. Liability exposures at the premises of the contractor, and at the premises of the contractor's customer, must be properly addressed along with completed operations. Business insurance is very important as is workers compensation insurance protection for employees.
Contractors may work under a general contractor as a subcontractor in larger construction projects - like a new commercial site or residential subdivision. They can work on smaller projects directly with a home owner, usually specializing in renovations or remodels.
In business insurance speak, often called 'artisan contractors' or 'casual contractors', they are involved in many aspects of construction and contracting work – and include various trades and skills. Carpenters, painters, plumbers, electricians, roofers, tree trimmers, landscaping are just a few examples. They may do roofing, fencing, drywall, tile work and many other trades that involve skilled work with tools at the customer's premises.
An artisan contractor performs a single trade or job, and each has its own specialized liability needs with its own exposures to risk and accidents. Contractors liability insurance can offer coverage for bodily injury, property damage, advertising injury and medical payments.
Most artisan contractors should have commercial general liability at the very least, but many need broader coverages - like an umbrella to increase their limits of liability, inland marine policy to protect their tools, workers compensation if they have employees, and even commercial auto if they use vehicles for business purposes.
Minimum recommended small business insurance coverage: Business Personal Property, Employee Dishonesty, Contractors' Equipment and Tools, General Liability, Employee Benefits Liability, Umbrella Liability, Automobile Liability and Physical Damage, Hired and Non-owned Auto & Workers Compensation.
Other commercial insurance policies to consider: Building, Business Income with Extra Expense, Earthquake, Flood, Leasehold Interest, Real Property Legal Liability, Accounts Receivable, Builders Risk, Computers, Goods in Transit, Installation Floater, Valuable Papers and Records, Cyber Liability, Employment-related Practicesand Stop Gap Liability.
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Also find Louisiana insurance agents & brokers and learn about Louisiana small business insurance requirements for general liability, business property, commercial auto & workers compensation including LA business insurance costs. Call us (318) 232-4100.