LCB #9018 | (541) 362-1389

What insurance do we have?

General Liability

Everist Irrigation carries general liability in the amount of $1,000,000 if a devastating problem arises.  This is in excess of what is required by law.
Oregon LCB Requirements:
To protect third parties, such as customers, a licensed landscape contracting business must maintain insurance that provides coverage for public liability, personal injury, and property damage; covering the work of the business in an amount not less than $500,000. It is the landscape contracting business’ responsibility for ensuring that a current certificate is on file with the LCB. Failure to have a current certificate on file with the LCB may result in the immediate suspension of the landscape contracting business license. 

source: https://www.oregon.gov/lcb/Documents/LRBGuideEnglish.pdf
https://www.hallmarkgrp.com/

Surety Bond

In the event Everist Irrigation fails to be pay to an order or arbitration award, the surety bonding will pay the judgment to the person that filed a complaint to the landscape contracting board.  

Everist Irrigation holds a $15,000 surety bond.
Oregon LCB Requirements:
A surety bond is a promise by a bonding agency to provide limited restitution if a landscape contracting business fails to pay an order or arbitration award. If the LCB or a court orders a landscape contracting business to pay money to a person who filed a complaint and the landscape contracting business does not pay, the bonding company will pay the money owed up to the amount of the bond. The bonding company will then seek reimbursement from the landscape contracting business.

When a landscaping project exceeds the charge limitations of the current bond, it is the business' responsibility to obtain the increased surety amount before work continues on that project. The business must obtain the correct bond amount before bidding on a project that will exceed their current bonding restrictions.

A surety bond or assignment of savings is based on the landscape job charges and required in the amount of:
  • $3,000 if the business charges $10,000 or less. 
  • $10,000 if the business charges more than $10,000, but less than $25,000 or if hardscaping work will be done without other landscaping work. 
  • $15,000 if the business charges $25,000, but less than $50,000.
  • $20,000 if the business charges $50,000 or greater. 

Failure to have a current certificate on file with the LCB may result in the immediate suspension of the landscape contracting business license

source: https://www.oregon.gov/lcb/Documents/LRBGuideEnglish.pdf
https://www.cinfin.com/business-insurance/products/Surety-Solutions