Pet Business Insurance | Why You Need It and More

If your business involves looking after people’s precious paw babies, make it your business to consider getting pet business insurance.

Pet care is a new and booming industry as more people are willing to spend money making sure their pets are happy and healthy. Like any other profession, many things can go wrong, and in that case, it is crucial to protect yourself, the business, and your employees, with business insurance.

It’s easy to get into the dog house, so pet care insurance is incredibly needed yet not often discussed. Here’s some information to guide you through finding the best insurance for the pet business.

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Why You Need Pet Care Insurance

So, your business provides pet owners with products such as food, toys, and accessories. Or perhaps you offer services to assist in grooming or rehabilitating pets. Just like any other business, anything and everything can go wrong. Insurance is a way to protect your business from possible financial ruin.

If you have staff, products, rent or own operation premises, equipment, and more, they are all vulnerable to damage or loss caused by something entirely out of your control. You need something to protect the unique needs of your business.

On the other hand, you know how deep pet owners’ bond with their furry friends is. Should any harm come to their pets, you will likely have a severe court case on your hands. Even if you are innocent, it may take months of costly lawyers for you and your business to be cleared.

The mere fact that your business revolves around living and breathing creatures is a considerable risk. Animals may be injured, sick or die, on your premises, perhaps in the arms of your staff or after interacting with or ingesting your products.

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Types of Pet Care Businesses

The pet care industry is vast, and you may be wondering whether your company even falls into this category. Pet care businesses provide products or services and include:

  • Pet Retail Stores
  • Pet Taxis
  • Pet Behavioural Therapy
  • Pet Sitters
  • Grooming Services
  • Dog Walking Services
  • Dog Hydrotherapy

All these businesses are eligible to receive pet care business insurance. Consequently, there are various types of pet care business insurance policies.

When speaking to a consultant, be sure to specify the particulars of your business so that a consultant may correctly advise you on exactly which type of coverage you need.

 

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Calculating Pet Care Business Insurance

While it’s hard to foretell the exact amount, you should not panic about the possible cost of pet care business insurance. Remember, this is an investment in protecting your livelihood and future.

Policy cost is dependent on several factors, namely:

  • The size of your business – How many employees and clients you have.
  • The type of services you provide – dog walking, kennel, pet sitting, etc.
  • The location of your business – if your business is in a high crime area, your premium will be costlier as the risk of theft is also high.
  • The level of coverage you will select – you will choose this according to your needs and what you can afford.

There is no need to worry about paying an arm and a leg if you have a small business because your policy premium will be adjusted to your needs and capabilities. For most insurance companies, it is possible to increase premiums and cover as your business grows.

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Types of Pet Business Insurance

Because of the variety of the pet care industry, there are different types of pet business insurance. Dog sitting insurance will differ from pet transport insurance, so here is a breakdown of the types of pet business insurance you can choose and build from:

General Liability Insurance

General liability insurance is a baseline coverage that provides legal protection in the case of the injury of a third party from a pet in your care. It also covers the property damages caused by the scratches and bites of a pet and the injury or loss of a pet.

If you are a dog walker and while with you, your client’s dog bites an innocent bystander, this cover may help with possible litigation or medical costs from the injured party.

Professional Liability Insurance

This cover is made for the particular case of your advice or professional opinion being accused of costing your client a financial loss. Professional liability insurance is a cover that most dog trainers, pet groomers, and the like would benefit from. If you are a dog trainer and your clients feel that they can prove in court that their dog lost a competition because of your advice, you may need this cover for the resulting litigation costs.

Equipment Insurance

This covers the possible accidental loss, damage, or theft of any covered supplies that a pet care professional uses—especially pet care professionals who travel with specific tools that help them provide pet care services.

Commercial Property

Whether you own or rent a building or space to operate your pet business, you most likely will need this type of property insurance. This is for the possible damage to the premises you practice on and pays to repair or replace damaged features. Issues such as scratches and bites on the flooring, doors, and walls, are under this coverage.

A well-informed combination of the above coverages according to your business needs is precisely what you need. Be sure to select a cover that is suited to your exact business concerns so that you can pay a premium that works for you.

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Benefits of Pet Business Insurance

Committing to a seemingly far away day might feel burdensome, but insurance for the pet business is not just something for a rainy day.

Pet care business insurance can benefit you in the following ways:

  • Your staff will be protected.
  • Current and future business assets are protected.
  • Landlords and banks will be more lenient and willing to entrust their investment to you.
  • Clients may also be inclined to trust a responsible business owner.

Final Thoughts on Pet Business Insurance

As a pet care professional, your products and/or services are trusted— we don’t doubt your level of care and commitment. People know you provide exceptional pet care and that responsibility must not be taken lightly.

Finding a pet care insurance company is challenging on its own, but with this guide, it is possible to make a well-informed decision to secure your future.

Your profession is essential, and so is the future of your business for yourself, your community, and your employees.

 

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