Why And How To Protect Your Pet Grooming Business
People these days put a lot of care into their pets. Not only do they put a lot of care into them, but they try to spend as much time with them as possible while offering them the best experiences possible. Everything from dressing them up to prancing them around in funny costumes, people will do what might seem like crazy things to some with their pets. This is especially true in Canada where 57 percent of the households own a pet of some kind. That’s a pretty impressive number, given that it is literally over half the population. As the population continues to grow, you can expect this number to grow right along with it.
That aside, all pets have one thing in common. They need grooming! And, some owners go all out when it comes to grooming. This is something that someone with the right skills can take immense advance of. If you are that individual with the right skills, you still have to be aware of the fact that you’ll always be at risk when running a pet grooming business. Everything from injured pets to damaged customer property will hang over your head every day. With an adequate pet care business insurance policy, you can limit these risks and clear your mind so that you can go about operating your business free and clear. What are these policies and how can they help?
Save Money By Comparing And Bundling
Before you start learning about the types of policies available to you and how they can protect your business, you’ll need to understand that a lot of these policies are required by Canadian law. If you want to legally operate a pet grooming business in Canada, you’ll need certain policies in place. However, it will likely be up to you as the amount of coverage that you get. Different insurance providers like ProfessionalsCoverage offer different rates. For instance, one provider might offer a million in coverage with one type of policy, while another might only offer up to $500,000. Whatever the situation, there are some policies that you don’t want to skimp with because they’ll protect you in unique situations.
All in all, insurance is something that is required in Canada but there are ways that you can go about reducing your costs. Even when protecting your business to the fullest, you can still do so while limiting your overall expenses. Two of the best ways to do this are bundling and getting quotes. Quotes will allow you to see which providers in your area offer the best rates for coverage while bundling will offer discounts from those providers. Not only will bundling offer discounts, but it’ll offer increased protection. Enough about that! It’s not time to learn what policy you’ll need and how they’ll protect you.
Why General Liability Insurance Makes Sense
General liability insurance is one that is required by Canadian law for all pet groomers. Even if it wasn’t it’d be one that you wouldn’t want to skip over. Not only that, but it’d be one that you wouldn’t want to skimp on. And, this is because it protects you from pet injuries as well as customer injuries. Now, you might be thinking – how can a pet groomer injure a pet? Well, you’d be surprised. A toenail cut too short can lead to permanent injuries. There are some situations where a short toenail can even lead to paralyzed limbs.
Sounds kind of far-fetched, but why take the chance. Not only this, but just even the slightest nick during a shave could result in a lawsuit, People take their pets seriously, and the slightest injury could end up in a lawsuit. Lawsuits might not seem like a big deal, but they come with a lot of attached expenses. Whether you are responsible or not, just the fact that the case goes to court will cost you thousands. Court fees, retainers, depositions fees, and court appearances, they’ll all run you hundreds to thousands of dollars. And, the longer the case goes on, the more it’ll end up costing up. This is where general liability insurance helps.
This policy will cover any of the above mentioned court-related costs. It’ll also cover the medical expenses that are related to the incident. General liability insurance also offers protection if your customer’s property is damaged. Whether it be something as small as a pet carrier or something as big as a car, general liability insurance will offer the protection you need.
Why Errors And Omission Insurance Makes Sense
Speaking of not being at fault, there will, unfortunately, be times when you are at fault. Maybe an argument with a family member before work throws you off. Maybe you just have an off day. Maybe it is something out of the blue. Whatever the situation, mistakes happen all the time in the pet grooming industry. When these mistakes happen, the customer can claim them as negligence. These are situations that will also lead to lengthy, long, and drawn-out lawsuits. Even if you aren’t at fault, they’ll lead to lawsuits.
Errors and omissions insurance aka professional liability insurance will protect you in these situations by covering court-related expenses. Going with certain providers might even offer protection from a settlement. That’s right, some insurance providers will be willing to pay the settlement in the event that you are sued.
Why Workers’ Compensation Makes Sense
Everyone wants to grow their business to the fullest. No one goes into business thinking- Gee, I hope I don’t get to the point where I can expand. No, most people go into business with the hopes of expanding. While some people are content with staying small, they’ll likely still have to bring on employees. It’d be nearly impossible to run a pet grooming business 5 days a week without help. Whatever the situation, bringing on employees means more risks. Not only are you at risk of customers injuring clients, their property, and their pets, but you are at risk of the employee getting injured on the job.
In fact, an injured employee is probably one of your biggest threats. And, this is why workers’ compensation insurance is pertinent. While it is required by law, it is one that you do not want to skimp on in the slightest. It’ll cover medical-related expenses when employees get injured on the job, as well as court-related costs and rehab expenses.
How Much Will You Pay For These Policies
Living in Canada and operating a pet grooming business means that you will have to acquire the above policies, While the amount of coverage you acquire is based on your own specific preference, there will be a minimum amount required. Not only will there be a minimum amount required, but each different provider will likely charge you a different rate for the same coverage. For instance, ProfessionalsCoverage might charge you a certain amount for workers’ comp, whereas a company down the road might charge more. Just because ProfessioanlsCoverage is the cheaper company, it doesn’t necessarily mean they will be the right company in this specific situation.
What you need to know is, each company’s rates vary because they base their rates on different factors. For instance, some providers base their rates on the number of employees you have and the location of your business. Some might base their rates on the types of services you offer coupled with the total amount of revenue you bring in. Whatever the situation, this is why when getting quotes, you’ll notice that different providers charge different rates for the same types of coverage.
Need coverage in effect? Compare the market!
Other Types of Pet Care Insurance We Provide:
If your business is not mentioned below, have no worries. Our insurance markets can provide liability coverage for the majority of pet care industries.