Insurances to consider for your pet grooming business
Insurance: most everyone knows we need it for health, car and even life. If you are a pet grooming business owner, you have your another vital commodity to protect – your business. Unfortunately, too many small business owners (and pet grooming businesses are no exception) are uninformed about what they need as it relates to this important business defense This has resulted in businesses being unprotected from potential pitfalls. At GroomPro POS we are here to help. The following is a short primer on the insurance products you may wish to consider for your pet grooming business.
Business Owner’s Policy (BOP)
As a business owner in the pet grooming industry, the most important coverage to consider is a Business Owner’s Policy (BOP). According to The Hartford, this policy combines the three most basic and important types of insurance needed by your business – General Liability, Commercial Property and Business Income insurance.
From what do these products offer protection?
General Liability will protect your business if there is ever a lawsuit accusing you of property damage or injury resulting from your business operations. This includes someone falling while bringing Fluffy in for a grooming or, if the service is provided at the client’s home, a valuable item getting damaged while Fido is being dried off after you have finished with his bath.
Commercial Property Insurance
Commercial Property insurance protects your physical location and all of the things you need to operate your business (including tools, tables, crates, computer, etc.). This policy covers your equipment – regardless of whether it is owned or leased.
Business Income Insurance
The Business Income insurance, will protect you from the loss of your income if your business can no longer operate because of property damage (flooding, fire, etc.).
There are other insurance products to consider to ensure you are covered through all situations. Perhaps you run a mobile pet grooming business. Your van is the lifeblood of your ability to work, as is all of the equipment you have inside. A break in or crash may result in the loss of not only the van, but everything you house within it. Mobile Pet Groomer Equipment coverage protects everything you have permanently attached to the grooming vehicle.
You take pride in your work and do your best with each and every client. However, there is always a risk of being sued for failing to properly render a service. For this type of coverage, you want Professional Liability insurance.
Professional Liability insurance
Unlike General Liability, which protects you for the space you are in, Professional Liability protects you in the event of professional error. It is important to point out that Professional Liability if typically excluded from the General Liability policy, and, therefore, the BOL policy. You must take this as an additional coverage.
Animal Bailee coverage
One of the most vital coverage add-ons to consider is Animal Bailee coverage. This policy will pay for the direct injury, damage, or death of an animal(s) that a client leaves in your custody or care. The policy covers you whether the injury or death was caused through the performance of the service or by another animal (one in your care or not…think dog attack while one of your staff is out walking a dog in between phases of a grooming). Without this coverage, it is extremely unlikely that your policy would cover such a claim or loss.
Data Breach Insurance
As more businesses avail themselves of technology, data breach has become a consideration with regard to insurance protection. If you store personal information on your client base, data breach insurance covers you if you are attacked and client data is stolen.
GroomPro POS cares about your ability to thrive as a pet grooming business. Certain expenses, though frustrating while writing the check, will allow you to sleep better knowing your business is protected. Many insurance carriers now offer the full complement of insurance products you need to ensure your pet grooming business is covered in the event of any number of issues. And don’t forget to ask about bundle discounts. Many companies offer a discounted premium for customers availing themselves of multiple policies. Be sure to ask if you qualify for some savings.