Whenever you budget the expenses of your business, kennels insurance must be high on the list because you can’t always know exactly what can happen in the future.
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With the protection provided by insurance against accidents and all the other sorts of insurance we will tell you about, you can protect your business and yourself in case something unwanted happens.
Like any business owner, for your kennels enterprise, you must consider how much financial risk you are taking on.
If your kennels business runs without proper insurance, you are taking a giant chance not just of losing some money but of a complete wipe-out.
This is because the laws in every state are very strict in enforcing liability on the owners of businesses for the results of their actions.
In this article, we are giving very general guidelines for growing businesses to highlight what the main kinds of insurance that you need are, and where possible, a rough guide to how much you can expect to pay.
The question is, can you afford to NOT have insurance for your kennels business?
What this means, for any kennels business owner, is that if some person claims that your work caused them some physical or economic damage, a court can award damages far beyond the total size of your business.
Your kennels business is not protected by laws in the same way as states are, where edicts can place a “cap” on the maximum level of liability.
In some states, like New Jersey, there are specific monetary levels that limit the amount an adjudicator can award in any case against the state.
In a court case, it’s purely the duty of the jury to award whatever amount they deem appropriate, even sometimes giving a claimant more than they have sort.
When you are running your kennels operations, you can’t avoid responsibility for the results of your actions.
Even more importantly, unless you have spent beforehand the money necessary to have your business running as a limited liability company, all of that liability belongs to you as an individual.
What does kennels insurance protect you from?
For your kennels business, the most important types of insurance are meant to cover the risks to your business from accidents, from unexpected events, and from mistakes.
As well there are some legal kinds of insurance that various states require.
In the next few paragraphs, we will explain the most important points any kennels business owner should remember when negotiating the insurance needed.
The main headings of insurance for your kennels businesses are liability insurance, commercial insurance, asset insurance and workers compensation insurance.
General liability insurance
Any kennels business is dealing directly with members of the public, and that means you usually have the danger that some accident can happen to them themselves or else something of theirs can be damaged.
In such a case, they can demand compensation.
General liability insurance policy for your kennels business protects you against claims coming from injury to clients or damage to their property.
It protects your kennels business from the claims themselves and in addition to any follow-on court costs and legal fees of the lawsuits.
In many cases, it should help you to qualify for extra business from city and state organizations, where contracts require proper liability insurance.
The normal level of general liability insurance for your kennels business would be with a boundary of $1 million for a single submission and a total of $2 million for the whole year.
See the table in the costing section below for average prices of general liability insurance for your kennels insurance operations.
Professional liability insurance for your kennels business
In the event where a customer alleges some negligence, errors, or omissions in how you conducted your kennels business for them, you can quickly face a law suit.
Even if the lawsuit against you is ruled in your favor, the cost of defense can be high, and the impact on your reputation can be damaging.
Every small kennels business should have enough professional liability insurance to cover an individual claim of $25,000, with annual cover of $50,000.
See the table in the cost of kennels insurance section below for average prices of professional liability insurance for your kennels operations.
Product liability insurance
Whatever goods you sell or advice you give about the goods, you are running a risk that buyers may claim that what they received didn’t meet your description of function, or that your guidance was basically incorrect.
You need to understand the explicit laws of product liability in your own state.
For example, in California, all businesses in the supply chain can be held liable for injuries caused by products claimed to be defective.
To cover yourself against any likely lawsuit, you need Product liability insurance for kennels
Only you can estimate exactly how much insurance you need.
Best advice is to consult with experienced insurance agents, brokers or company representatives for guidance.
Commercial vehicle insurance for your kennels business
Be careful! – most policies for private vehicle insurance do not cover any occurrence like theft or accidental damage when the van is being used for business purposes.
The right way to make sure that your vehicle is insured for both its own value, and the valuable contents, is by taking out a direct commercial vehicle insurance package.
Commercial van policies guarantee the value of any vehicle in case of accident, malicious damage, fire, or theft.
In addition, in case of any accident, the van itself, the content and any legal bills, medical expenses, and property damage is insured if your van is involved in a crash.
Most states, other than Virginia and New Hampshire, mandate this type of insurance.
The required value of the insurance depends on the depreciated value of the vehicle, and your intended level of cover of contents.
Tools and Equipment insurance
Since your kennels business needs specialized and expensive equipment, you can appreciate how much it can cost to replace it in case of any damage, loss, or theft.
The equipment may be subject to malicious damage, deliberate fire, theft, other such unforeseen acts.
In addition, acts of nature like lightning strikes, hurricanes, earthquakes, and other highly damaging natural events can eliminate your whole business in one stroke.
Unless you can afford to immediately replace such specific gear quickly out of your own pocket, you must have full-level equipment insurance so that you can immediately buy any equipment needed to keep your kennels business running.
It is hard to advise how much equipment insurance you need – it’s really dependent on how much you have invested in your kennels business’ equipment.
Commercial Property insurance
Any kennels business that owns or rents space in a building must have a commercial property insurance policy.
If you own the space, you certainly have a substantial capital investment, along with a big liability if there’s a mortgage.
Every physical building location should carry insurance coverage for the value of the premises and contents against accidental occurrences like fire and storms, and against deliberate damages like theft and vandalism.
If your kennels business works in areas of high risk, like Texas or South Carolina, extra coverage may be needed for earthquakes and hurricanes or tornadoes.
In other states like Illinois, where unlimited cold snaps can cause damage to outer coverings of kennels business premises, there is a need for more additional cover than in warmer climes.
Although the level of cover depends completely on the value of the property, it’s not possible to say what cover your need, but we have been able in the table in the cost of kennels insurance section below to give some estimate of the average prices per million dollars of property insurance for your kennels business.
Temporary insurance by month, week or day for your kennels business
Is your kennels business working part-time or casually, or is the level of business variable?
Using short-term insurance makes excellent sense. Business insurance by the month, day, or week – temporary insurance for kennels – are special policies where you can cover a specific period when you want to be covered.
By only paying for that period of cover, you will save by having lower premiums but still having identical risk cover.
The key feature of short-term insurance is that you purchase the cover for a defined period – a designated date, or a week or month starting on a specific date, for example for 30 days beginning on the specified date.
When you are expecting periods of larger business activity, get the existing cover raised.
Talk to your insurance agent, broker or the company’s representatives to see what options you have.
Business Owners Policy BOP for your kennels business
You have the chance to combine a few of the important kinds of small business insurance in one policy that is known as the business owner’s policy – BOP.
A BOP merges commercial property and public liability insurance by amalgamating these coverages into one insurance policy, which can save you money.
BOP insurance will protect you if any claims of injury or property damage are made.
It is mostly the right choice for small and medium-sized kennels businesses, such as yours.
There are two limits that will dictate whether BOP is suitable for your own business.
BOPs cannot cover your professional liability or commercial vehicle risks.
Also, the size of your business will rule whether you are allowed to take out BOP cover.
The normal business that is eligible for a BOP policy must have no more than one hundred employees, and under five million dollars in annual turnover.
Plus, you must separately take out the required worker’s compensation, health and disability insurance as determined for your state.
Workers Compensation insurance for your kennels business employees
In almost all states, it is mandatory to have workers compensation insurance when your kennels business has one or more employees.
Workers compensation insurance covers the business against any costs that arise if any hired hand experiences an injury or becomes sick as a result of work.
The benefits cover medical expenses, death benefits, lost wages, and vocational rehabilitation.
Failure to meet a state’s requirements in this regard can leave you as the employer required to pay penalties levied by the states.
In these states, you cannot get your workers compensation obligations from private insurance companies.
Workers compensation rates are computed based on the employee’s pay, and usually come out at around $1.00 per $100 per month.
However, you must consult the relevant authorities in your state.
Average costs of these types of insurance
Although every kennels insurance level is unique, there are enough examples of standard quotes from insurance companies for us to give rough guidelines, including what are the cheapest rates offered.
Of course, you should always check with an insurance representative what’s relevant for your business.
The list below is of annual premiums we have researched for the main types of insurance your kennels businesses needs.
|Types of insurance
|Public liability insurance
|$250 – $580
|Product liability insurance
|$235 – $555
|$315 – $1235
|Commercial vehicle insurance
|$1575 – $3000
|$890 – $2370
|General liability insurance
|$610 – $945
Cost of insurance for your kennels operations depends on many different factors.
We have estimated these figures for small independent kennels businesses.
The location and size and type of your kennels business can have a big effect on the cost of different policies.
You should talk to professional insurance agents and brokers, or insurance company representatives.
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As well you can let the internet do the work for you by searching for insurance companies near where your business is located.
Another reliable source of information is the local Better Business Bureau in your town.
What is small business insurance for kennels operations?
This is a general term used to describe common insurance policies designed to protect kennels business owners from risks like bodily injury, property damage, claims of negligence.
Does my kennels business have to have insurance?
Some of the forms of insurance are not mandatory for you to run your business, but they can protect you from risks in your business operations.
Several other forms are required by state law, such as workers compensation and vehicle insurance.
What does a small kennels business insurance policy cover?
Liability insurance provides coverage against lawsuits or claims filed by a customer for bodily injury, property damage, or negligence.
The specific cover will vary based on your own operations.
See the table in the costing section above for average prices of the recommended policies for kennels insurance.
How much will kennels business insurance cost?
On top of the size of the business, some other factors, such as location and claims history, are used to determine your policy’s cost.
You should consult with professional insurance agents and brokers, or insurance company representatives.
You can search for more information insurance for kennels, in the search box below, and follow the relevant links.