You probably have a passion for animals and animal care if you work in the pet care industry. There are so many careers to pick from, including pet sitters, dog walkers, groomers, and boarders. Being your own boss and having a pet care business is convenient for your schedule and fun since you enjoy what you do. There are a few risks to be cautious of, so we're here to help you understand what you need in an insurance policy to protect your business and its investments.
Why Do I Need Insurance For Pet Care?
Even though you are a skilled professional and know what you're doing, accidents might still occur. Regardless of how cautious you are, things could still go wrong. You could be responsible for any costs if an accident happened to the animal in your care or to any private property. This implies that you can end up shelling out thousands of dollars for a vet visit or to repair any property damage. You should check your coverage to make sure it is appropriate in light of this. You can have a backup plan for your finances in case of an accident with insurance.
How Much Does Liability Insurance For Pet Care Cost?
The annual cost of professional pet insurance was about $139. If you need more coverage, you can add additional endorsements to your base insurance. Examples include Employee Lack of integrity Coverage, Animal Bailee, and more, costing between $19 and $59 each. Additional insureds can be added to your coverage for $25 for employees and $50 for contractors.
What Is Covered By Pet Care Insurance?
A variety of coverage options are offered by pet care insurance to safeguard your business. Here is an overview.
Maximum General Liability Limit: $2,000,000 (estimated)
General liability can shield your business from having to pay for third-party property damage and bodily injury claims. Claims are often made because someone trips and falls or because someone else's or a business's property gets damaged by accident.
Products and Completed Operations Liability Limit: $2,000,000 (estimated)
This section of the policy only applies if you sell your customers any pet-related goods. The cumulative limit is the maximum amount that your policy will cover for claims of physical injury and property damage caused by the tools you use to carry out your services over the course of a year.
Personal and Advertising Injury Limit: $1 Million
Personal injury includes things like slander, libel, invasion of privacy, and kicking someone out of their home without a good reason. The advertising injury insurance policy covers libel, defamation, invasion of privacy, and copyright infringement. It also covers offenses related to the promotion of goods or services. For example, this part of the policy can cover the theft of your marketing or advertising campaign.
Damage to Rented Premises Maximum Coverage: $300,000 (estimated)
You need insurance to guard against having to pay for any damage you might cause to a rented space if you operate your business out of one, like a grooming salon in a strip mall.
Veterinarian Expense Reimbursement Aggregate Limit: $5,000 (estimated)
This section of the policy covers medical costs for a client's pet that is in your care, custody, or control, regardless of who is at fault.
Maximum Liability for Lost Keys: $2,000 (estimated)
The cost of replacing a client's residence key, any new locks that need to be fitted, or having the building rekeyed would be your responsibility if you lose or damage the key. Fortunately, insurance will pay $2,000 for each instance of this incident.
You can add to your base insurance if you need more coverage. Your insurance company is happy to give you more coverage options so you can tailor your level of protection to your needs.
Cyber Liability Insurance Maximum Coverage: $100,000 (estimated)
Your business may be held accountable if you gather or keep consumer data—including names, addresses, and even payment information—and that data is compromised or stolen. By getting cyber liability insurance, you can avoid having to pay high fines, settlements, legal fees, and processing fees. The cost of cyber liability insurance is $79 more per year.
Animal Bailee: $0–$29 (estimated)
Animal bailee insurance protects your pet business in case you are held vicariously liable for damage or loss to a pet while it is in your care, custody, or control.
Insurance for Employee Dishonesty: $0–$59 (estimated)
The employee dishonesty coverage will pay your client back for money, securities, and other property that was lost or damaged because of theft by a known employee.
Expanded Property Damage Coverage: $29
This expanded insurance covers damage to customers' personal items that you are caring for while doing your pet business operations.
What Should I Expect After Completing An Application?
An application is simple to complete and takes no more than ten minutes. In order for the insurance provider to get you the coverage you require, you will need to fill out some basic personal and business information. The short list of information you must provide is as follows:
- Your contact information, including your email and postal addresses, etc.
- Your company's details, including your name, activities, and business type.
- Gross revenue for your business and other business-related inquiries
- Which endorsements would you like to add to your insurance policy?
- History of claims—any claims that you have previously needed to file
- You must include additional insureds and their contact information.
- Payment information
DO WHAT YOU ENJOY WITH CONFIDENCE
We hope that this guide to pet insurance has helped you figure out what kind of coverage your business needs. Consult an insurance provider right away so you can go to work stress-free and with a safety net for your finances. We wish you success in all of your endeavors related to the pet care business!