Given the danger amid daily lumber operations, such as sharp tools, heavy machinery, motor vehicles and falling objects, ample loss control measures must be maintained. With this in mind, lumber insurance emerges as a potentially critical investment. What Is Lumber Insurance?
Like many types of insurance for businesses, lumber insurance may consist of several types of coverage. By compiling an appropriate lumber insurance portfolio, businesses can retain access to crucial financial assistance that can limit out-of-pocket expenses and losses.
What Does Lumber Insurance Cover?
Working with the right lumber insurance services can provide financial protection from many common risks and perils in the lumber industry. Also known as logging and lumbering insurance, an adequate collection of coverages may help pay for potential losses, including those involving liability for incidents affecting other parties, damage inflicted on a policyholder’s own property, lost income due to covered business interruptions and legal expenses made necessary by various lawsuits.
What Insurance Coverage Does a Lumber Business Need?
While exact insurance needs may vary depending on unique circumstances, many lumber businesses may share several common risks and exposures. Including the following types of coverage in a lumber insurance portfolio is generally advisable:
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Commercial property insurance
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General liability insurance
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Workers’ compensation insurance
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Business interruption insurance
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Employment practices liability insurance
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Errors and omissions insurance
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Commercial auto insurance
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Inland marine insurance
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Cyber liability insurance
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Commercial umbrella insurance
How to Get Coverage From Lumber Insurance Companies Near Me
At Bone Robertson & McBride Inc., we have 50 years of experience serving the coverage needs of businesses in the Alamo, California, area. Specifically, our agents specialize in working with companies in particularly hazardous and niche sectors, such as the lumber industry. Contact us today to learn more or to get a personalized lumber insurance quote.