The idea is to guarantee that landscaping is insured adequately and also to document assets so that a claim can be filed in case of a loss, the Columbus (Ohio) Dispatch reports.

“People who have spent a lot of money on landscaping have valuable siding for homes and trees that are providing them shade,” said Doug Cowles, HMI executive vice president and chief operating officer. “Financially, they are able to provide themselves some protection for those assets.”

Such a service previously had not been widely available to homeowners, Cowles said.

And homeowners are learning that replacing trees downed by storms or disease costs more than they expect, he said.

Typically, insurance companies pay $200 to $500 for tree replacement. But because trees appreciate greatly through time, they might appraise at $20,000 to $40,000 when fully grown, Cowles said.

“Based on the values that our system produces, if we say a tree is worth $7,500 and insurer wants to write a policy for $7,500, you’re going to get the full coverage,” Cowles said.

HMI began offering the assessments to homeowners about a year ago. In Columbus, HMI offers the work through Davey Tree & Lawn Care, 3603 Westerville Rd.

A certified horticultural assessment costs a minimum of $350 and must include at least 10 species and roughly 25 plants.

More info.: www.moneygrowsontrees.com

Source: Columbus (Ohio) Dispatch