Working with pets or animals, in general, can open up pet professionals to an array of unpredictable situations. Having pet business insurance in place is particularly important due to the precarious nature of animals.

After all, even the most laid-back dog can suddenly become aggressive or anxious — especially if it’s in pain. Finding a competitive pet business insurance solution can give you the peace of mind and protection you need to stay ahead of the game.

Pet Business Insurance: What Are the Options?

Insurance is an important consideration for any business, but particularly when you’re dealing with someone’s cherished pet. Indeed, any accident involving a pet can fast turn into a legal nightmare. Aside from the emotional stress and financial worry this can cause you there’s also your reputation to consider.

When it comes to what’s covered and how much you’ll pay, this comes down to which type of policy you choose and whether you opt for added extras. However, a good place to start is with Professional Indemnity and Public Liability insurance. Here’s the lowdown on the common pet business insurance options.

Professional Indemnity Cover

Most pet professionals want a pet business insurance policy that will protect them against financial losses for legal action taken against you or your business for errors, negligent acts or oversights made during the provision of professional services or advice.

This is why professional indemnity cover is a popular choice. It can cover the compensation payable to a third party and also cover your legal costs.

For some pet professionals, the decision to take out cover is theirs, but in other cases, you will be required to do so. For example, a business owner or franchisor may specify that this type of cover is necessary as part of their employment contract with you.

In other instances, you may simply find that customers or clients require you to have insurance. If you don’t you might risk losing their business.

At the end of the day, it makes sense to have professional indemnity insurance. If an accident should happen while a pet is in your care and a claim is taken out against you, you know you have cover.

Public Liability Cover

Public liability insurance covers your potential liabilities to third parties for property damage or personal injury as a result of your business-related activities.

Whether you work out of a veterinary clinic or you visit clients in their own homes, having public liability covers you against claims relating to any breach of your basic ‘duty of care’.

Public liability insurance protects you and your business against the financial risk of being liable for causing damage, injury, loss or death to a third party. It can also cover your legal and defence expenses.

Business Insurance

Business insurance can be tailored to your individual needs. Essentially, business insurance provides peace of mind that your contents and equipment are safe and that major interruptions to your business won’t have a lasting financial effect.

Most professionals know the importance of protecting their business and finding suitable insurance is the best way to achieve this. It doesn’t matter what type of pet business you operate, there is an insurance policy to suit your needs, bringing peace of mind to you and your customers.

Personal Accident Cover

This type of cover compensates you for loss of earnings due to an accident or illness that prevents you from performing your job.  If you are in a situation where you depend upon your income, this may be an important option for you to consider, as it can help tide you over so you can recover with less financial stress.

Key questions to ask

Before taking out pet business insurance, asking yourself these all-important questions can help you to work out what type of policy or coverage you need.

  • What type of claim could potentially be brought against my business?
  • What are some possible damages or injuries my business, my staff or I might sustain?
  • Do you have employees?
  • How much would it cost to replace your property, stock or equipment in the event of theft, fire or a natural disaster?
  • Could your business survive financially if there was a lawsuit against you for negligence?

As with any insurance policy, it pays to do your research and compare multiple policies, so that you can find the pet business insurance that best suits your individual needs.

Image source: Christin Hume on Unsplash

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Liz has a passion for all things cat and dog, and was one of the first in Australia to bring Pet Insurance to the market. She has headed up Petsecure for the past 12 years, and is committed to promoting and supporting the amazing work done by rescue groups around Australia, and those who work to promote a better life for all animals.

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