Botanical Gardens Business Insurance
Getting insurance for your botanical garden is essential.
Botanical gardens need to be protected against claims related to things like slip and fall accidents, premises liability, employment-related issues, and product liability.
For example, an employee is not properly paid for their work, or a visitor suffers an allergic reaction after touching an unmarked plant in your garden.
We’ll help you find the most personalized and affordable coverage for your unique business.
Recommended: Next Insurance is dedicated to matching small businesses with the right policy at the best price.
Best Insurance for a Botanical Garden
General liability insurance is — generally speaking — one of the most important insurance policies for botanical gardens.
Some of the risks general liability insurance covers are:
- Bodily injury
- Property damage
- Medical payments
- Legal defense and judgment
- Personal and advertising injury
Although general liability is important, there are a number of additional policies your botanical garden should consider obtaining:
- Commercial property insurance
- Business interruption insurance
- Workers’ compensation insurance
- Professional liability insurance
- Commercial auto insurance
- Commercial umbrella liability insurance
When buying business coverage for your botanical garden, it is important to be aware of the two distinct types of insurers you can buy from:
- Traditional brick-and-mortar insurers — Some of the providers that fall into this category include The Hartford and Nationwide.
- Online insurers — Some of the providers that fall into this category include Next and Tivly. In general, we recommend this type of provider to small businesses due to their lower overheads and, therefore, lower prices.
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Cost of General Liability Insurance
On average, botanical gardens in America spend between $400 - $1500 per year for $1 million in general liability coverage.
Compare the average cost of general liability insurance for a botanical garden to other professional industries using the graph below.
Several factors will determine the price of your policy. These include your:
- Location
- Deductible
- Number of employees
- Per-occurrence limit
- General aggregate limit
You may be able to acquire general liability insurance at a discounted rate by purchasing it as part of a business owner’s policy (BOP) rather than as a standalone policy.
A BOP is a more comprehensive solution that includes multiple forms of coverage, such as business interruption and property insurance.
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Common Situations That General Liability Insurance May Cover for a Botanical Garden
Example 1: A guest trips over a stray rock left in the middle of the path and sprains an ankle. General liability insurance is likely to cover the medical costs of their injuries.
Example 2: When hosting a fundraiser for endangered plants, a guest’s belongings are stolen from the coat check and this results in severe identity theft. General liability insurance will help cover any legal claims that are filed against the botanical gardens for negligence.
Example 3: A potential donor visits your facility and comes into contact with a rare plant. They experience an allergic reaction several days later and sue the gardens for the resulting injury. General liability insurance may help with the costs needed to either fight or settle the claim.
Other Types of Coverage Botanical Gardens Need
While general liability is the most important type of insurance to have, there are several other forms of coverage you should be aware of. Below are some of the most common types of coverage:
Commercial Property Insurance
You will need commercial property insurance to protect both the plants and the structures located on the premises against natural and man-made disasters. This form of insurance will cover damage to the grounds and the facilities, including greenhouses, guest check-in booths, and information centers. A botanical garden is largely exposed to the elements, so owners need strong property insurance to keep their plants safe.
Business Interruption Insurance
Business interruption insurance will cover loss of income in the event the botanical gardens must shut down for a covered reason. For example, if a large storm destroys the greenhouse, this insurance will compensate for the lack of revenue experienced while you remain closed for repairs.
Workers Compensation Insurance
Workers compensation insurance covers your employees in the event they are injured on the job. If your employees will be working with large tools, potentially dangerous plants, or performing tasks that may result in injury, you may want to purchase coverage beyond the minimum amount required by law.
Professional Liability Insurance
This insurance covers mistakes made by employees while on the job, including negligence to guests, investors, or business partners. The staff of botanical gardens will work with any number of associations, including community and commercial interests. If they report the wrong information or mislabel plants, it can result in a serious lawsuit.
Commercial Auto Insurance
If you use commercial automobiles to transport plants and equipment, you’ll need commercial insurance to cover both the vehicles and their contents.
Commercial Umbrella Liability Insurance
This form of insurance will cover additional costs stemming from liability claims that exceed the limits of general liability. Extra costs may come in the form of medical bills, legal fees, or reputation restoration campaigns.
Additional Steps To Protect Your Business
Although it’s easy (and essential) to invest in business insurance, it shouldn’t be your only defense.
Here are several things you can do to better protect your botanical garden:
- Use legally robust contracts and other business documents. (We offer free templates for some of the most common legal forms.)
- Set up an LLC or corporation to protect your personal assets. (Visit our step-by-step guides to learn how to form an LLC or corporation in your state.)
- Stay up to date with business licensing.
- Maintain your corporate veil.
Botanical Garden Business Insurance FAQ
Yes, absolutely. You will need to first get a quote from an online business insurance provider like Next Insurance. Next allows you to then purchase a policy immediately and your coverage will be active within 48 hours.
A typical business owner’s policy includes general liability, business interruption, and commercial property insurance. However, BOPs are often customizable, so your agent may recommend adding professional liability, commercial auto, or other types of coverage to your package depending on your company’s needs.
"Business insurance" is a generic term used to describe many different types of coverage a business may need. General liability insurance, on the other hand, is a specific type of coverage that business owners need to protect their assets.
Yes. We strongly advise you to sufficiently protect your botanical garden with adequate business insurance to make certain that it is safe from any potential risks inherent to the industry.
In some cases, your garden may be obligated by law to obtain certain policies before starting, such as workers’ compensation and commercial auto insurance.
Not necessarily. Certain exceptions may be written directly into your botanical garden insurance policy, and some perils may be entirely uninsurable.
Yes, an LLC is meant to create a legal barrier between your business and your personal assets and credit. If you haven’t formed an LLC yet, use our Form an LLC guide to get started.
An LLC doesn’t protect your business assets from lawsuits and liability– that’s where business insurance comes in. Business insurance helps protect your business from liability and risk.