Starting a new business means fantastic new opportunities. For many people in Western Massachusetts who love pets, providing pet sitting and grooming services is a great way to build a business. But, what type of business insurance do startup pet groomers and pet sitters need?
Having proper business insurance is essential. It can help keep your business on track. It also minimizes financial loss to you.
Protecting Your Assets
The first step in any business is to protect your assets. Business insurance should cover all assets you own or use. This includes the building in which you operate.
Do you have specialized equipment for caring for the pet? Do you have an inventory of products to use to care for the pet? Many sitters operate large kennel-style spaces for the animals. These structures need protection. No matter if you rent or own the building, protect these assets. Usually, property insurance is the starting point.
Focus on Liability
Liability insurance helps cover claims made against your business. And, there are risks here. A pet could suffer an injury during the grooming process. An animal may bite another animal. You may have concerns with the pet during your time caring for it. For example, it may get out of the kennel and suffer an injury. Liability insurance helps minimize any financial loss from these types of situations. It applies when your business could be negligent.
Commercial Auto Insurance
A fantastic new trend in this industry is a traveling groomer. The pet groomer goes to his or her client’s home to handle the work. This may mean you use a vehicle for your transportation.
In such cases, commercial auto insurance is usually necessary. It provides both property and liability insurance. If you get in an accident, for example, it can help cover your vehicle damage. If you cause an accident, it can help cover those liability risks, too.
Workers’ Compensation
Depending on the size of your business, you may need workers’ compensation. It helps cover your workers if they suffer an injury on the job. They may slip on the wet floor. Or, a dog could bite them. The workers' comp can support the employees during their recovery.
State laws may require you to maintain this coverage. If you have employees, it can be a valuable investment.
Business insurance for pet businesses should always fit the business itself. What you do, the costs associated with it, and the risks likely to occur need addressing. Your business insurance agent can work with you to create a game plan.