When thinking about insurance for SMEs, things like business interruption cover and retail insurance often come to mind. However, there are many more types of insurance out there. Policies exist that cover a number of niche industries, and some of them are rather surprising. In this series of articles, we will take a look at businesses that can benefit from specialty insurance products.

Managing liability while working with pets

A good insurance policy can provide coverage when the unexpected occurs.

Large pet stores might have retail insurance and other policies, but insurance in the pet industry isn’t limited just to corporations. Even a person who walks dogs in his or her neighbourhood can benefit from business insurance. An insurance package tailored for the pet industry can protect small business owners like walkers, groomers, sitters and trainers. SME owners in the pet industry can benefit from a number of policies designed to protect against unforeseen circumstances, such as losses, injuries and accidents.

A big concern for anyone that works with animals is the risk of bites or attacks, which are the responsibility of the person in charge of the animal at the time, not the animal’s owner. This leaves them open to legal liability in case of an attack. In the South Australian Dog and Cat Management Act, 1995, for instance, the person responsible for a dog is liable if that dog attacks another person or animal. While minimising the risk of accidents like this is important, a good insurance policy can provide coverage when the unexpected occurs.

In the past, we’ve looked at getting caravan coverage. Caravan park owners can also benefit from a number of specialised insurance policies. Fire is a large concern for anyone who owns property. The destruction caused by arson or bushfires can be devastating for residents and owners alike, but things like business interruption cover or property and public liability can go a long way towards preventing large financial loss.

With the rash of bushfires recently in WA, the need for park owners to have adequate cover is growing increasingly clear. Natural fires, however, aren’t the only thing to be wary of. Some fires can be inadvertently caused by tenants. A recent fire at a tourist park in WA is suspected to have been caused by a resident’s flare. It is among 60 incidents of fire in the area that may have been deliberately lit, reports the Midland Reporter.

Many small enterprises can benefit from a good coverage policy. Contact a broker at MGA Insurance today to discuss your business insurance needs.