Owning and operating a pet care business has its set of unique challenges. With this niche industry growing substantially every year, the need for risk management is increasing alongside it. The pet care industry has both people and animals as clients, posing different risks. Pets are considered part of the family and should be treated as such. Here are the top risks facing pet care businesses today and the insurance options to protect the animals, clients, and the company itself.
Four Common Risks to Consider
Whether it’s dog sitting, training, or pet grooming, working in a pet care facility can put workers at risk. The product themselves can pose a threat for groomers if the employee happens to be allergic to an ingredient. The animals could be aggressive and cause bodily injury to the employee.
Pet Safety Risks
Animals can be unpredictable. There are several scenarios where an animal could be hurt while under your care. Some situations can include accidentally cutting a dog with clippers during grooming services or a cat on your watch could eat something that makes them severely sick. Regardless of the situation, animals can be a severe liability.
Risks to Pet Owners
Pet owners are also subjected to some hazards. They could sustain an injury on the business’s property or get bit by a dog. These risks are easier to mitigate, but there is still some liability with the human customers.
Cyber Security Risks
It’s become common practice for most companies to accept online payments for goods and services. While it can make transactions easier, the business faces the potential of a cyber attack to gain the customers’ financial details. Even the smallest business can experience an intrusive and devastating cyber attack.
Minimize Risk With Insurance
These are just a few of the most common risks that pet care businesses can experience. Thankfully, these risks all have solutions, and there are ways to minimize the liabilities. Getting comprehensive insurance coverage is the first step for any business to reduce its risks. Some companies have specific policies regarding the pet care industry.
A risk management plan should be the second step. Understanding exactly what could go wrong and the liabilities associated with your business is vital to creating solutions. Safety procedures should be strictly implemented and perfected.
Pet Care Business Insurance Options
To cover your business from unfortunate risks, here are some insurance policies to consider:
- General Liability – protects against the financial loss associated with bodily injury and property damage to third parties. This policy typically covers customer and pet injuries, property damage, and advertising injuries.
- Commercial Property – protects your assets if they are stolen, damaged, or destroyed by a fire or natural disaster. This policy covers the physical place of business as well as the equipment inside.
- Workers’ Comp – covers medical costs for work-related injuries and illnesses. Most states require workers’ comp.
- Cyber Liability – protects your business from the expenses associated with a data breach.
- Business Owner’s Policy combines multiple coverages and includes standard coverages such as general liability and property.
These are some of the primary insurance policies business owners in the pet care industry should consider. Some insurance companies do offer pet care-specific policies.
Let Biscayne Take Care Of You
Taking care of pets takes a lot of work and comes with a lot of pressure. Let Biscayne take some of that pressure off you. Our risk management services can assess the liability exposures of your pet care business and create a tailored plan. Contact us today to learn more about the risks associated with the pet-care company and your insurance options.