Forestry and Logging Insurance

The forestry and logging sector is among the most dangerous in the United States. If you operate a business in this industry, you’re likely aware of the many risks and exposures for which you must account. However, even the most diligent and experienced employees may be unable to avoid all accidents. Furthermore, certain situations, such as severe weather, may be out of your control. To address these threats, suitable insurance must be a top priority.

What Is Forestry and Logging Insurance?

Forestry and logging insurance can generally be considered a specialized form of business insurance. The right coverage for forestry and logging businesses may require you to explore, identify and procure several different types of insurance policies. Once you’ve secured a suitable combination of coverages, you may be equipped with the resources to access financial assistance in response to various accidents, errors and other unforeseen issues.

What Types of Coverage Does My Business Need?

When considering the many types of insurance available to your forestry and logging business, you should first understand that your coverage needs are unique. Still, certain types of policies may be advisable for most in this sector. Consider prioritizing the following:

• General liability insurance can render financial aid if you’re at fault for an incident from which other parties accrue losses, such as bodily injuries, property damage and reputational harm.

• Business property insurance can compensate you for losses involving your company’s physical assets, such as buildings, equipment, tools and inventory.

• Workers’ compensation insurance is often required by law and can offset financial repercussions following employees’ on-the-job injuries and illnesses.

• Commercial auto insurance may also be legally mandated and is necessary to account for incidents involving your business’s motor vehicles.

• Tools and equipment insurance can financially protect business assets while off your premises, such as being transported or stored at a job site.

• Business interruption insurance may be needed to help your company recoup losses if normal operations are interrupted by a covered event.

• Commercial umbrella insurance can be essential, as it may offer additional financial assistance should the liability coverage limits of other policies be exhausted.

We’re Here to Help

Contact Guffin & Eleam Inc. today to learn more about forestry and logging insurance or to get a personalized quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.