From general liability insurance to workers’ compensation, learn how to understand and purchase the right insurance for your pet care business. Check out our comprehensive articles and resources to discover how you can protect and grow your business.
Pet Care Business Insurance Basics
Types of Pet Care Business Insurance
What pet care businesses need insurance?
Working in the pet care industry can open your business, employees, and clients up to a litany of risks and liabilities. For any business, small or large, it makes sense to have some form of coverage to protect against unexpected events or disasters that may simply be out of your control. If your business is involved in any of the following, you’ll likely want to consider exploring options for insurance coverage:
- You work with clients
- You take temporary custody or care of a client’s property
- Members of the public visit your business property
- You perform work for clients at client locations
- You own or lease company vehicles
- You drive a personal vehicle for work purposes
- You hire employees
- You own or rent commercial property
- Your business owns valuable property, such as medical equipment or computers
- Your business works with and stores medical supplies or medication
- You store confidential or sensitive data on clients, including personally identifiable information
- You sell products that have the potential to harm your clients
Pet Care Business Insurance by Profession
Why is pet care business insurance important?
Accidents and injuries can happen, especially when out on location or in the field.
Benefits: Working with animals can be unpredictable at times, and the right business insurance coverage can cover some of this risk. Even with precautions and safety measures, you never know exactly how an animal will react in certain situations, whether you are administering a vaccine or taking a dog out for a walk in a new neighborhood. Insurance coverage like general liability can provide coverage if customers or other third parties and injured or suffer property damage as a result of your work, and workers’ compensation insurance can provide benefits for your employees if they are injured on the job.
Risks: Without insurance, a single accident or injury could put your entire business at risk. If your business is unable to come up with the funds to pay for damages or pay the legal fees necessary to defend your business, you may need to sell your business assets or declare bankruptcy.
Mistakes in your work can lead to expensive client lawsuits.
Benefits: Working with pets can be extremely sensitive at times, as owners consider their pets to be a part of their family. Any mistakes or errors on your part, whether it is in prescribing medication or training an animal, can lead to damaging customer lawsuits. With insurance coverages like professional liablity or bailee coverage, you can protect against any mishaps that may occur.
Risks: A lawsuit from a dissatisfied customer can wreak havoc on your business. If a customer ends up taking you to court, you could be on the hook for enormous legal bills, as well as any settlements or judgements against you. Even if you’re found completely in the clear, the toll on your business’s reputation and the time and resources devoted to fighting off a lawsuit can prove crippling for any business.
Certain types of business insurance may be required in your state.
Benefits: In most states, companies are required by law to carry workers’ compensation insurance. Even in the safest conditions, accidents can happen, which is why insurance is a necessary solution. If an employee is injured while working for you, insurance will cover you financially as well as make your business compliant with the law.
Risks: Without workers’ compensation, your organization is wide open to financial loss should a worker get injured or sick as a direct cause of working for you. Moreover, multiple injuries could lead to financial losses that ruin your business. As many states have made carrying workers’ compensation part of the law, avoiding the coverage can land you in legal trouble resulting in penalties, fines, and in some cases, imprisonment.
