Insurance Insurance and Bonding

[chopprjok]

Hey Guys,

I am contemplating taking on small tractor jobs in the town. I have a tiller and FEL and box blade, and I hate for them not to get their opportunity to work. I love my time on the tractor, and if I can get paid for playing in the neighbors yard, then the wife is even happy.

I have been told that I need to get insured or bonded, in case someone thinks I have damaged their property. I need some advice from others who might have opened their own small business like this, about what type of bonding I need.

Also if you know a good company to deal with, I would like that information.

Thanks

chopp

 

[2nstonge]

There's alot of posts about this topic if you search the generic owning/operating board - you'll have more reading material than you thought possible!

Anyway, yes, insurance is a must (IMO); an inland marine policy for trailering the tractor aorund and liability in case you do damage ($1-2 million seems to be the norm). Not sure about bonding but your insurance agent can answer all these questions. I augment my home improvement biz with the same type of tractor work you're contemplating & my insurance runs about $1,400/yr.

-Norm

 

[chopprjok]

Thanks Norm