Chicken Renting Service Insurance
Getting insurance for your chicken renting service is essential.
Chicken renting services need to be protected against a variety of hazards, including damage to property and claims for bodily injury from customers and members of the public.
For example, a customer’s child may sustain a gash to her arm from the protruding end of equipment. This is a situation that could lead to a lawsuit. Fortunately, there is insurance to cover such eventualities.
We’ll help you find the most personalized and affordable coverage for your unique business.
Recommended: Next Insurance is dedicated to matching small businesses with the right policy at the best price.
Best Insurance for a Chicken Renting Service
General liability insurance is — generally speaking — one of the most important insurance policies for chicken renting services.
Some of the risks general liability insurance covers are:
- Bodily injury
- Property damage
- Medical payments
- Legal defense and judgment
- Personal and advertising injury
Although general liability insurance is designed to cover a wide range of risks, it may not provide coverage for all the risks that your business is exposed to. If that is the case, you can obtain specialized policies that offer coverage for those specific risks. Examples of such policies include:
- Commercial property coverage: This policy offers protection to a company's physical assets, such as its fixtures, from risks posed by fire or flood, as well as losses due to burglary and theft.
- Commercial auto insurance: May be a collision policy or a comprehensive policy. Collision policies cover physical damage to individuals, including medical expenses and damage to vehicles. Comprehensive policies cover the risks covered in a collision policy, but also damage to vehicles from non-collision causes.
- Business income coverage: Business income coverage provides protection against certain financial losses that are sustained because the business has been forced into a temporary shutdown.
Insurance products and services are widely available. Providers are generally of two sorts:
- Traditional brick and mortar insurers: These firms, like Allstate and Progressive, have been industry players for decades. Their risk and pricing policies are based on the data they have collected over their long time in business.
- Online insurers: Insurers, like Lemonade and Next, rely on more up-to-date data. As a result, their pricing may better reflect risk, with lesser risks paying lower premiums.
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Cost of General Liability Insurance
On average, chicken renting services in America spend between $300 - $700 per year for $1 million in general liability coverage.
Compare the average cost of general liability insurance for a chicken renting service to other professional industries using the graph below.
Several factors will determine the price of your policy. These include your:
- Location
- Deductible
- Number of employees
- Per-occurrence limit
- General aggregate limit
You may be able to acquire general liability insurance at a discounted rate by purchasing it as part of a business owner’s policy (BOP) rather than as a standalone policy.
A BOP is a more comprehensive solution that includes multiple forms of coverage, such as business interruption and property insurance.
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Common Situations That General Liability Insurance May Cover for a Chicken Renting Service
Example 1: While visiting your business, a customer trips over a box of feeding supplies, breaks an arm, and asks you to pay for his medical care. General liability insurance would cover his medical treatment.
Example 2: A competitor sues you for libel. While you disagree with the claim, you want to hire a lawyer immediately. General liability insurance would pay for your legal defense fees and any required settlement.
Example 3: As an employee loads chickens into a customer’s car, he loses control of the hand cart and it rips a gash in the customer’s vehicle. General liability insurance would cover the customer’s vehicle repair costs.
Other Types of Coverage Chicken Renting Services Need
While general liability is the most important type of insurance to have, there are several other forms of coverage you should be aware of. Below are some of the most common types of coverage:
Workers’ Compensation Insurance
If you have any employees, most states will require you to carry workers’ compensation insurance for both part-time and full-time workers. This coverage protects your employees if they become injured at work or fall ill after a work-related accident. It not only covers an employee’s medical bills and lost wages if they need time to recover, but also any disability or death benefits stemming from a work-related accident.
Commercial Umbrella Insurance
While your general liability insurance policy covers most claims, some accidents or lawsuits may be so catastrophic that they threaten to exhaust the limits of your primary coverage. Commercial umbrella insurance protects you from paying out-of-pocket for any legal fees and awarded damages that exceed your primary policy.
While general liability is the most important type of insurance to have, there are several other forms of coverage you should be aware of. Below are some other types of insurance all chicken renting services should obtain:
Commercial Property Insurance
You made a major investment in the real estate, chickens, equipment, and other supplies needed for your business. In the event of a fire, theft, or natural disaster, commercial property insurance would cover the cost of repairing or replacing your business-related property. This includes structural damage to your building as well as the business materials you store there.
Product Liability Insurance
While you strive to ensure your chickens satisfy your customers, there’s always a chance someone might decide your product caused them harm. In the event of a lawsuit, product liability insurance would cover your legal defense costs and any required settlement
Additional Steps To Protect Your Business
Although it’s easy (and essential) to invest in business insurance, it shouldn’t be your only defense.
Here are several things you can do to better protect your chicken renting service:
- Use legally robust contracts and other business documents. (We offer free templates for some of the most common legal forms.)
- Set up an LLC or corporation to protect your personal assets. (Visit our step-by-step guides to learn how to form an LLC or corporation in your state.)
- Stay up to date with business licensing.
- Maintain your corporate veil.
Chicken Renting Service Insurance FAQ
Yes, absolutely. You will need to first get a quote from an online business insurance provider like Next Insurance. Next allows you to then purchase a policy immediately and your coverage will be active within 48 hours.
A typical business owner’s policy includes general liability, business interruption, and commercial property insurance. However, BOPs are often customizable, so your agent may recommend adding professional liability, commercial auto, or other types of coverage to your package depending on your company’s needs.
"Business insurance" is a generic term used to describe many different types of coverage a business may need. General liability insurance, on the other hand, is a specific type of coverage that business owners need to protect their assets.
Yes, and there are good reasons why you will need business insurance. Your fledgling business will be exposed to risk even before its doors are open to the public. Adjustments to the premises, hiring and managing workers, creating operational procedures: these are all activities that involve risk despite their innocuous guise.
In addition, state laws mandate the purchase of commercial auto insurance to cover company vehicles, and workers’ compensation insurance to cover employees.
Not necessarily. Certain exceptions may be written directly into your chicken renting service insurance policy, and some perils may be entirely uninsurable.
Yes, an LLC is meant to create a legal barrier between your business and your personal assets and credit. If you haven’t formed an LLC yet, use our Form an LLC guide to get started.
An LLC doesn’t protect your business assets from lawsuits and liability– that’s where business insurance comes in. Business insurance helps protect your business from liability and risk.