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Insurance for Waste Removal
Waste removal services can be a lucrative business. Not many people are willing to take on the dirty jobs even if they can earn money doing so, thus they hire someone else to do the work instead. As the owner of a waste removal company, you have many details to keep track of and many potential risks to worry about. Stop worrying by protecting your company and its workers with the right types of commercial insurance coverage for your business.
General liability is a broad level of insurance coverage that can protect you from unpredicted and unknown potential problems. For example, general liability pays for damages caused to a customer’s property and it covers the medical costs in case a customer gets injured while on your business premises. General liability can also protect your company from financial losses caused by fire and water leakage. General liability extends as you grow and automatically provides coverage to new services and business locations.
Business Owners Policy (Bop)
A business owners insurance policy, or BOP, is particularly useful for small businesses like yours because you can tailor it to exactly fit your needs. It primarily provides property protection for business contents and includes general liability as a combined package.
- Equipment Breakdown – A BOP can protect you from the financial hardships caused by expensive equipment failures. For example, if your trash compactor breaks a BOP can cover the repair or replacement cost.
- Buildings and Contents – Protecting the physical assets of your company is imperative for keeping it operational. A BOP can protect business structures such as warehouses, office buildings and property fences. It also protects assets you have inside such as your office desks, file cabinets, tools and other equipment.
- Business Income and Extra Expense – If your company is hit with a large loss such as a fire, you must be forced to close down for repairs, a BOP can help with the loss of income and extra expenses you may incur.
- Electronic Data – Financial files, customer contracts, subcontractor agreements, regulatory reports and notices… all of these are common electronic files that waste disposal services may use as a part of their business. When these files are corrupted or destroyed, the costs for repairing and replacing them can be extensive.
- Newly Acquired or Constructed Buildings – When you add waste transfer stations, storage buildings, guard shacks and other buildings to your company, a BOP can automatically protect them from loss and damage up to a specified limit.
- Valuable Papers Protection – If you keep paper records of critical information such as hazardous waste material amounts and locations, you cannot afford to lose them due to any loss.
- Employee Dishonesty Coverage – Employee dishonesty takes many forms. From theft of office supplies to unauthorized charges on the company credit cards, these actions may cost your firm a lot of time and money.
Commercial auto insurance protects your company from all costs that arise when business vehicles are stolen, vandalized or involved in auto accidents.
Workers comp insurance is required by law. If one of your employees twists his ankle when he gets down from a waste truck, or he becomes severely ill from something contained in waste that was collected by your company, workers comp insurance will take care of the associated medical and recovery expenses.