Opening up a new business comes with a myriad of logistics that need to be taken care of, and one of the most important ones is sorting out the various insurance policies that will be critical to protecting your assets and bottom line. While there are a few insurance policies that are crucial for all businesses there are some that are specifically suited for your particular line of business. If your line of work will be centred on handling animals, for example, a boarding kennel, a pet spa or even a veterinary clinic, there are specific policies that you need to get when you apply for insurance. This article looks at the essential insurance policies you need to have if your business works with animals.
One of the first policies that you should get when you open up your animal-centric business is property insurance. Animals can be temperamental, and if a pet is restless or perhaps in pain from an injury, they can act out and cause damage to your electronics, carpeting or even your business' structure. Property insurance ensures protection for both your commercial premises as well as any assets that could end up acquiring damage from the animals that your business takes care of. As long as you have kept up with your deductibles, your insurance company will cover the costs of repair for any property loss caused by an animal on the premises.
Commercial auto insurance
If your business will be tasked with transporting animals, for instance to another medical facility, back home or whatever other reason, it is imperative to seek commercial auto insurance for your business. The commercial auto insurance will offer your business coverage for various incidents. For instance, if a pet is injured while in transit under your care, the commercial auto insurance will cover the subsequent medical expenses. On the other hand, if an animal is to cause damage to your vehicle, commercial auto insurance will take care of the auto repairs your car may need. When applying for commercial auto insurance, you should note that there are additional types of protection you could include, for example, collision protection in the event of an accident.
As long as you have employees, it is mandatory to get worker's compensation insurance. The risk of your employees being injured when handling the animals that visit your business is quite high, especially if they are required to be hands-on with the pets. From treating an injured animal to perhaps trimming their nails, your employees can sustain injuries from bites, scratches and more. Therefore, it is imperative to get worker's compensation so that your business is covered against expensive medical costs, lost wages and so on.
For more information on business insurance, contact your local insurance professionals.