What is Pet Boarding Insurance?
To start your own pet boarding business, you’re going to need pet boarding insurance.
Pet boarding insurance is a comprehensive insurance package designed to cover you, your business assets, your employees, and your clientele. (That means both your human and canine clientele are covered!)
As a pet boarding business owner, you take on certain liabilities. Consider incidents that lead to business property damage or accidents that require you to settle a personal injury claim. There are tons of unforeseeable payments you may have to make as a business owner and pet boarding insurance will make sure that you have the money to cover your liabilities and stay afloat financially.
Any business that is open to third-party visits should have general liability insurance. Businesses take on the liability of injury or property damage resulting from negligence.
When this happens, the affected party can file a claim against your business. You will be asked to compensate them for their medical bills or other related costs. General liability insurance helps you cover your legal fees as well as any other compensation you are required to provide.
Workers’ compensation laws vary from state to state. If you have one or more employees, it’s best to have workers’ compensation regardless of the law.
As much as we love and trust the dogs we work with, we also know that unexpected incidents can occur. You are asking your employees to take risks every day and night that they come in and work with other peoples’ dogs.
Workers’ compensation is a benefit that will balance out that risk. It is used in the event that an employee is injured on the job and will help cover their medical expenses and lost wages.
Business Owner’s Policy
A Business Owner’s Policy (or BOP) is a cost-effective bundle. It combines general liability insurance and commercial property insurance.
Commercial property insurance covers anything tangible that your business owns. That includes the building as well as any kennels, outdoor equipment, and more.
When you have commercial property insurance, you can rest easy knowing that your business is covered in the event of an emergency or break-in. Commercial property insurance covers the cost of repair and replacement after events like fires, explosions, or theft.
You’re going to want both general liability insurance and commercial property insurance. Why not bundle them and save money for the same level of coverage?
Business Income Insurance
In the event that your property requires replacement or renovation, you may have to shut your business down for a few days or even weeks. During that time, you’ll lose the money you would be making if your business was up and running. Business income insurance compensates you for those days of lost income so that you can continue to thrive even under difficult circumstances.
Errors and Omissions Insurance
Similar to bonding insurance, the errors and omissions insurance package covers any lawsuits resulting from work mistakes. In other words, if you or an employee breaks a contractual obligation or acts in ways that are deemed dishonest, you could find yourself facing a lawsuit.
For example, imagine that one of the dogs in your care is supposed to eat a certain kind of food for dietary reasons. The owner discussed it with you beforehand and included it in the paperwork that you both signed. One of your employees forgets to give the dog her special food and she reacts with mild stomach sensitivity.
Because the dog did not require hospitalization, the owner won’t sue you for vet bill compensation. However, they could sue you for breach of contract and errors and omissions insurance is designed to handle cases just like that.
Animal bailee is an insurance policy that covers claims related to pets who become lost, sick, or injured under your care. Pet supply business owners may be able to get away without having animal bailee since, theoretically, pets will be with their owners at all times while on the premises. However, any pet business that is responsible for animals without owner supervision must get animal bailee coverage.
Commercial auto insurance is one of the few policies that really come down to your specific business needs. While all pet boarding businesses will own or lease a physical building, for example, not all pet boarding businesses will own or lease a company car. If you do possess a business-owned or business-leased car, commercial auto insurance is crucial.
Commercial auto insurance will protect your business in the event that your business-owned or business-leased car causes an injury or personal property damage. You can also get non-owned auto coverage to protect you and your employees when you are driving in your business’s parking lot.
Employment Practices Liability
Employment practices liability insurance is another policy that every business owner should invest in. This protects your business in the event of a lawsuit filed for bad business practices. These lawsuits can come from employees and customers if they feel they have been discriminated against, harassed, or unjustly fired.
Even if you trust yourself and your employees to treat everyone equally and with respect, this coverage is still a necessity. Slip-ups and errors in judgment can occur at any time. Do yourself a favor and protect yourself from expensive lawsuits.
Where to Get Pet Boarding Insurance
Now that you know about the different types of pet boarding insurance, you need to find the right insurance company! Ideally, you want to work with a company that specializes in pet business insurance and will understand your unique needs. You’ll also want to find someone with affordable prices that don’t sacrifice quality to cut costs.
Contact us to discuss our bundles, prices, and more! We care about everything that could go wrong so that you can focus on making sure everything goes right!