Arborists are highly-skilled tree surgeons. Consumers enlist your services when they need to cultivate, manage, or study a tree, shrub, or plant. Arborists focus intently on the health and safety of specific plants instead of worrying about the forest as a whole. When a Canadian resident needs to remove a tree from his or her yard, they’ll hire a professional arborist. This is the best way to tackle the problem without risking their home. You’ll accept the job, visit your client’s home, and take care of the issue immediately.
The only problem is that arborists face significant risks. Move the blade in the wrong direction and the tree may crash through the client’s roof. You’ve found yourself in a nightmarish situation and need to fix this problem as quickly as possible. What are you going to do? Unless you’re insured, you’re looking at a hefty lawsuit and a costly settlement. Having arborist insurance is pertinent for protecting your company, its workers, and your clients.
ProfessionalsCoverage can help you find a qualified agent so you can sign up for a comprehensive arborist insurance policy soon.
Arborists In Canada
As an arborist, you’ll be thrilled to know that Canada is home to the third largest forest area in the world. It is estimated that the country has roughly 350 million hectares of forests. In addition to this, many Canadian homes have yards with trees, shrubs, and other plants. Suffice to say, there is plenty of work for arborists in Canada but there are many risks as well. Canadian business lawsuits are more common than you could ever imagine. With this in mind, it is pertinent to protect your company from such problems.
Before your arborist firm begins serving Canadian companies, it is essential to obtain a comprehensive arborist insurance policy.
What Is Arborist Insurance?
As an arborist, you’ll need arborist or professional liability insurance. While you’ll need other policies as well, professional liability insurance should be your top priority. Professional liability insurance protects professionals from claims filed by their clients. Certain professionals need professional liability insurance because general liability insurance does not protect against claims of misrepresentation, negligence, and malpractice. Anything can happen despite doing your best. So, you should defend your company and protect your future by acquiring arborist insurance.
You can use arborist insurance to protect against claims of negligence. The name of professional liability insurance varies depending on the profession in question. For instance, it is known as medical malpractice for doctors. It may also be referred to as errors and omissions insurance.
How Arborist Insurance Works
While the name may vary, professional liability insurance is always designed to protect the business from claims of negligence. This specialty coverage is not part of an in-home business policy, homeowners’ endorsements, or business owners’ policies. If you want arborist insurance, you’ll need to sign up for this specifically. Furthermore, your business will only be protected from claims filed during the policy period. You cannot sign up for a policy now to protect yourself from claims made two weeks ago. Once you’ve been approved for an arborist insurance policy, it will begin protecting your business. The insurance will protect you from any claims filed now and until your policy has elapsed.
This insurance works on a claims-made basis. In most cases, professional liability insurance policies will protect the insured business from losses associated with claims of error, omission, and negligence. While some policies may be retroactive, most are not. With that being said, past incidents will likely not be covered.
What Isn’t Included With Arborist Insurance?
Remember that arborist insurance is not comprehensive or perfect. While it offers excellent protection, your business is still going to be exposed. You’ll need to combine arborist insurance with other policies to protect against all potential risks. Nevertheless, it is important to know what is not covered with this policy. For starters, you will not be protected from cyber breach lawsuits. If your database is compromised and your customers’ data is stolen, this insurance is not going to help. You can purchase cyber insurance to protect yourself from such issues.
Professional liability insurance will not cover deliberate or intentional acts. In addition to this, professional liability insurance does not protect businesses from personal injuries, worker injuries, or property damage. You’ll need other insurance policies to ensure that your business will be able to survive all potential lawsuits and problems. Don’t hesitate to spend more on insurance because it will pay dividends in the long run.
The Cost Of Arborist Insurance
Professional liability insurance or errors and omissions insurance is pertinent because it protects your company when you get sued for making a mistake. All arborists in Canada need this insurance because they never know when they’re going to experience a minor problem. You’re likely wondering how much you’re going to pay for this insurance. How much will it cost? Ultimately, the price is going to vary significantly. It can be difficult to know how much you’re going to pay since each business is different. If the insurer determines that your business poses a lower risk, you’ll pay a lower premium.
If your business is riskier, you’ll pay more for insurance. It is up to the insurer to determine how much you’ll pay. When deciding, they’re going to consider a handful of factors. For instance, they’ll consider the tenure of your company, its history, and its past claims. To get the lowest prices, it is wise to avoid claims. Don’t let a past claim increase your premiums.
Why You Need Arborist Insurance
Right now, you may suspect that your business is untouchable. Everything is going your way and you’ve received nothing but praise from your customers. This is wrong but you can’t be positive that it is going to last forever. You need to be ready for anything. With the demand getting higher, the risk that you’ll make a mistake is significantly higher. In addition to this, you’ve likely hired employees to help manage your workload. With that being said, you need to realize that your workers add a new level of risk to the equation.
If you don’t have professional liability insurance, a small problem could lead to a devastating lawsuit. That lawsuit could bankrupt your company. By acquiring a comprehensive arborist insurance policy, you’ll know that your business will be able to survive anything. Canada is a wonderful place to run a business but the country is unpredictable. You need to be ready for potential problems. The best way to do that is by acquiring and maintaining professional liability insurance.
Don’t Forget Commercial General Liability Insurance
Besides professional liability insurance, you’ll also need to protect your business with a good commercial general liability insurance policy. This insurance is equally important since it can help you avoid losses associated with future lawsuits. The only thing to remember is that commercial general liability protects from different problems. This insurance provides protection when clients are injured at your business or due to one of your products. Furthermore, this insurance offers protection from lawsuits linked to 3rd party property damage.
If you cut a tree and it lands on a customer’s truck, this insurance will help. It’ll help you defend your company during the upcoming trial. You need commercial general liability insurance to fill the gaps left behind by professional liability insurance. Nevertheless, you shouldn’t serve the Canadian public unless you have both insurance policies.
What Else You’ll Want To Add
You’ll want to add other insurance policies to ensure that your arborist company is protected from all potential risks. Otherwise, you may forget one thing and it could leave you exposed to a costly lawsuit in the future. You’ll need to add several other insurance products to your policy to ensure that your company can survive a future lawsuit. Below, you’ll learn more about the insurance products that you’ll want to add to your arborist insurance policy.
Your job is to cut down trees and take care of shrubs. Your customers expect you to chop down their trees without creating a message or damaging their property. Nevertheless, you need to think outside of the boxy. You’ll see that your company likely uses the Internet to store customer information. Furthermore, you may process card payments and send bills online. When you do this, you’re responsible for your customer’s information. You need to go above and beyond to make sure that your customers’ information is not stolen. Nevertheless, you cannot problem that problems won’t occur. This is why you have to invest in cyber insurance.
Cyber breaches are more common in Canada than ever before and all businesses are vulnerable. Cyber insurance can help protect your business from such issues. Acquire cyber insurance so you can protect your company when it is sued due to a devastating cyber breach. If your customers sue after a cyber breach, this insurance will help.
Business Contents Insurance
Arborists rely on a variety of tools to help their customers. Without these tools, you wouldn’t be able to cut trees and prune shrubs. You wouldn’t be able to help your customers. In addition to this, you’d have to worry about replacing your equipment. This would prove to be one of the biggest expenses your business would face. Would you be able to afford it and continue operating? Or, would this loss force your business to shut down? You have to think about these things because your business depends on it. The good news is that you can give yourself peace of mind by acquiring business contents insurance.
Business contents insurance covers fixtures, fittings, business equipment, and personal possessions. If you’re worried about having to pay out of pocket to replace your valuable possessions, you’ll want to purchase business contents insurance. This insurance will make a big difference and it’ll give you greater peace of mind.
Are you eager to purchase business contents insurance? Don’t wait because it might be too late tomorrow. Contact the experts at ProfessionalsCoverage so you can find a high-quality agent and sign up for business contents insurance soon.
Business Interruption Insurance
A single mistake could shut down your business for a week, two weeks, or several months. You never know. With that being said, you need to worry about potential problems that will force you to close your business temporarily. If this is something that concerns you, it is time to obtain business interruption insurance. This insurance will provide you with confidence that your business will survive almost anything. If you experience a problem and can’t serve your clients for two months, business interruption insurance can help. During this time, you’re going to lose income. Business interruption insurance can help you avoid this issue.
With this insurance, you’ll be able to recuperate the lost income. In addition to this, you can receive extra money for other purposes. Business interruption insurance offers help recovering lost income and income for temporary headquarters. Furthermore, you’ll be able to use your business owners policy to pay for the repairs to your headquarters.
Arborists in Canada cannot skimp on insurance. Doing so will leave your business exposed in the long run. You must get enough coverage to prevent your company from being exposed. The best way to do that is by spending more and getting additional coverage. However, you don’t want to get too much coverage since this will cause you to overspend each month. Instead, you need to get the precise amount needed. How can you do this? You’ll need to start by analyzing your risks and finding out how much coverage will protect your company fully.
Furthermore, you have to worry about contracts. When accepting certain contracts, you will be required to obtain a certain amount of insurance. You need to fulfill your client’s obligations and make sure that you get the required coverage. Are you having a difficult time finding out how much coverage is right for your company? Don’t rush this decision because it could lead to serious repercussions. Contact the experts at ProfessionalsCoverage so they can help you find a qualified insurance agent. They’ll help you find out how much coverage your business needs.
Arborist Disability Insurance
You biggest asset in life is your earning ability. If you are unable to work, you will need to rely on either your savings or borrow money to sustain your lifestyle. When these unfortunate circumstances occur, dependents and spouses are also impacted financially and emotionally.
Disability insurance coverage will provide you a monthly income benefit, usually totaling 70% to 80% of your income, when you are unable to work for a period of time due to injury or illness.
Types of disability insurance
- Long-Term Disability Insurance (LTD)
- Short-Term Disability Insurance
- Key Person Disability Insurance
- Self Employed Disability Insurance
- Mortgage Disability Insurance
- Temporary Disability Insurance
- Supplemental Disability Insurance
Need coverage in effect? Compare the market!
FAQ before purchasing Arborist Liability Insurance
- How much arborist professional liability insurance do I need?
- How do I get an arborist insurance policy?
- What does arborists professional liability insurance cover?
- What is the difference between claims made & occurrence form of coverage?
- When will I need to be insured as an arborist?
- What other professions need this type of insurance?
Other useful posts you should also read
- Canadian insurance companies that provide professional liability insurance for arborists
- How does the claims process work if I get sued because of my tree cutting services?
- What is the cost of arborist liability insurance?
- How do I apply for an arborist professional liability insurance policy?
- How do I qualify for coverage as an arborist?
- What is the purpose of getting insured as an arborist?
- How long will it take to get an insurance quote for my tree cutting business?