Insurance for Forestry Professionals
We shop for you! Compare rates from +10 top carriers
What Insurance Do Forestry Professionals Need?
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
Commercial Auto Insurance covers your cars, trucks, and vans used in your business. It covers the costs from vehicle damage in collisions, theft, vandalism and weather damage. It also covers medical expenses for to injured parties.
Equipment Breakdown Insurance protects your equipment from breakdowns caused by motor burnout, power surges, boiler malfunction, and operating error. It covers you for the costs to replace or repair your damaged equipment, and other related expenses.
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Frequently Asked Questions
Why do Forestry Professionals need insurance?
This industry includes professionals and establishments engaged in hunting, trapping, forest firefighting, reforestation and the gathering of various items found in nature, such as balsam, ginseng, and truffles.
As forestry professionals, you are responsible for reforestation, hunting, trapping, forest, and other costs. The mistakes done by your service would be a huge liability risk should your client sue you. The many risks forestry professionals can face could potentially put a dent not just in your business finances, but your personal assets as well. Having insurance protects your business from these risks by paying the costs of the covered risks until it has reached its limits. The limits are usually high which means you won’t have any out-of-pocket expenses when a covered risk occurs.
What risks do Forestry Professionals face?
Forestry professionals face plenty of risks. Below are some of those:
- The service you provide has caused your client a huge financial loss due to the mistakes you have made.
- Your employees could become sick or injured on the job.
- Your office floods because of a burst pipe. The computer, desk, and any other appliances or furniture inside the office are destroyed.
- While driving to your client’s place, you got involved in an accident that ruled your business to be at fault.
How much does insurance for Forestry Professionals cost?
The cost of insurance for forestry professionals varies by the services you offer, the number of employees you have, the coverage required and many other criteria. Without taking these into account, below is the average cost of insurance policies that most businesses buy:
- General Liability insurance cost $500 in annual premiums.
- Commercial Auto insurance costs $600 in annual premiums.
- Commercial Property insurance costs $700 in annual premiums.