A septic company handles some of the most difficult work out there. They are responsible for helping a homeowner or business owner to manage waste at the location.
Plenty can go wrong in these situations. The right business insurance can help minimize some of these risks. Working with your agent, determine the right type and amount of coverage you need to protect your company. Here is where to focus.
Protect Your Equipment
Many septic companies have a significant amount of equipment. This equipment travels from one job site to the next. As a result, it is at risk in a variety of ways. Having proper property insurance is important. This type of coverage should protect:
- Your physical location you operate out of, including the building you run your business from
- All of your equipment you use at your facility or on the job site
- All of your inventory of usable items and materials
- Your computer systems and electronics
- Any other assets you own
The value of your commercial property insurance should be enough to replace these items if lost. Having enough coverage to replace items is essential to keeping your company running. Depending on how you transport items, you might need additional coverage.
Commercial Vehicle Insurance
Most septic companies operate a variety of types of vehicles. You may have trucks or a fleet of demolition equipment. You may have a variety of tanks as well as site preparation equipment. Hauling equipment may be very expensive. If it operates on its own over the roadway, you need commercial auto insurance on it. This should protect the asset itself from loss as well as provide liability coverage.
General Liability Insurance
Septic businesses are in a high-risk situation. A mistake here can lead to a significant loss for the property owner. For example, if a septic tank breaks open, it can create an environmental hazard. This can be costly to repair and cleanup. Your liability insurance needs to be enough to handle these more worrisome risks. Work with your agency to talk about the amount of coverage necessary based on the claims you may have to make.
Additional coverage may be necessary. If you do consulting work or provide specific advice to property owners, consider the value in professional liability insurance. You may also need workers compensation coverage if you have employees. Other protection for shipping might include inland marine coverage.
Work with your business insurance agent to create a customized plan for your needs. It should alleviate your risks.
Also Read: A Few Things About Your Business Auto Insurance Policy