If you run any type of pet grooming and boarding service, then you know that your business has unique risks. Pets often behave or react in an unpredictable way. You need to prepare for the unexpected with insurance. Here is more information about the benefits of insurance as well as the types of insurance that are ideal for your pet grooming and boarding business.
Why Is Business Insurance Important?
When a customer brings a pet to your business, then he or she expects that pet to be returned in good condition. Many pet owners are highly attached to their pets and think of them as family members. Therefore, if something ever happened to them, you could be financially responsible. Examples of what you may be liable for when running a pet grooming and boarding business include:
- Lost pets
- Illnesses (from other pets, allergic reactions to substances in your business)
If the owner takes you to court and the judge determines that you are liable, then you could be out of a substantial amount of money. High monetary judgments could put you out of business and plague you for a long time.
What Types of Insurance Are a Must?
These insurance types are essential if you are entrusted with anyone’s pet. While their exact titles and names vary between companies, they all have similar protections.
All businesses that work directly with people, or are open to the public, need basic liability insurance. This protects your business in the event of personal injury claims against you, your equipment, or clients.
Business Property Insurance
This type of insurance reimburses you if your equipment is stolen, vandalized, or damaged in a fire. Keep a detailed record of the products you use for your business because the insurance company will ask for them if you file a claim.
Animal Bailee Insurance
Animal bailee insurance is especially important as it protect you if something happens to the pet. You would be covered for lost or deceased pets in your care as well as some medical expenses.
What Other Types of Insurance Can Help?
Besides the types of insurance listed above, you may also benefit from these other types of insurance. Not all of these will apply to your situation.
If you have any employees at all, you should purchase workers’ compensation insurance. This insurance covers them if they have a work-related incident such as from a dog bite or trip and fall.
Product Completion Operations Insurance
Product completion operations insurance comes into play if you have a customer that is dissatisfied with your work and claims damages. In a grooming situation, they may claim that you gave their show dog the wrong type of haircut and that caused them to lose out on prize money.
Business Owner’s Policy
A business owner’s policy covers you if you can’t perform your job because of damaged or stolen equipment. This insurance covers you as you wait for your claims to be processed.
Veterinarian Expense Insurance
Consider this type of insurance when you need to cover any animal injuries or illnesses that occur under your care. This is no-fault insurance, so it covers you regardless of liability. Veterinarian expense insurance has lower limits than animal bailee insurance, so it should be used as a supplement, not a replacement.
Animals are great to work with, but you can’t always tell what might cause them to react in an unexpected way. Therefore, if you aren’t already insured, you should purchase business insurance even if you only work part-time with a few dogs a week.
If you want to know about insurance for your pet grooming and boarding business, contact Metropolitan Insurance Service Consultants, Inc, for a quote. We can go over insurance limits and different add-ons so that you can get the insurance you need.