Opening your new pet business is an exciting time. You may be picking out a space to set up shop, building out your website, or brainstorming on possible names for your business. (May we suggest “Fur the Love of Animals?”)
As a new small business owner, you should be sure to include “get business insurance” to your to-do list. Insurance protects you from the costs of unforeseen accidents and provides peace of mind for you, your employees, and your clients. Having insurance also demonstrates your professionalism, setting you apart from the other guys!
Lucky for you, we’re here to help make getting the right insurance for your pet business quick and easy. Here are the insurance types to consider for your pet business.
General liability insurance protects you in the event of injury or damage due to negligence — yours, your employees’, or hired contractors’. That could include injuries to an animal in your care: As careful as you may be to make sure the fur babies you’ve been entrusted with are safe and secure, accidents happen — and emergency visits to the vet are not cheap.
If you are using a fixed location for your pet business — like a storefront for your combined dog grooming and pet costume shop — you will need business property insurance. Business property insurance protects you against little-to-big incidents, from an outside sign falling due to a gust of wind to a catastrophic fire that destroys your entire building and everything inside. Business property insurance is one of the most important investments you can make to ensure your pet business’s future.
If you own a car, you likely have auto insurance. But if you’re using a vehicle for your pet business — to pick up or drop off pets at your customers’ homes, for instance — then you’ll need commercial auto insurance. Comprehensive company car insurance could include auto liability, medical payments, collision coverage, and even coverage for your employees when they’re using their cars for business.
If you have employees, you need workers’ comp insurance — it’s the law. It also protects you from potential lawsuits that are messy, expensive, and best avoided: If one of your workers gets hurt, workers’ comp insurance covers the medical bills and their lost wages.
Business Owner’s Policy
A business owner’s policy typically bundles common business insurances — including general liability and business property — into a single policy. Bundling ensures you get all the insurance you need for your pet business and is generally more affordable than separate policies.
With pet adoptions at historic highs thanks to stay-at-home orders (thanks, COVID!), now is a terrific time to open a pet business. And with your insurance needs taken care of, you can focus on the fun stuff — like your business Instagram account!