If you own a business within the commercial contracting industry, you already know a Liability Insurance policy is crucial, not only for your company’s stability but also for pursuing work with clients. Commercial Lines Insurance policies are a straightforward way to show you’ve taken the time to put a security net in place should an accident occur.
Lumber mills and logging companies require highly trained professionals in their field, not only to get the job done but also for their experience in safety precautions. Luckily, we also know the risks that revolve around the lumber industry. Their knowledge helps them cater to your business, ensuring that every aspect of your company receives superior coverage.
We, as insurance brokers, understand the importance of Commercial Line Insurance policies. We can pass on our insurance industry knowledge to the forestry professionals who need it the most. Our ability to cater to our clients’ specific needs is our top skill. Those of us at Strouf Insurance and First National Insurance take pride in helping our policyholders. We know that it is our professional duty to keep our customers well informed about their insurance needs.
Why is Commercial Lumber Mill and Logging Insurance Important?
Commercial Line Insurance policies are written with the forestry industry in mind. They are a specialized set of policies that usually focus on Business Liability Insurance, which is crucial to your company’s success. It can protect you from possible financial costs resulting from accidental injury or damages done to a client’s property. If a logger were to damage a client’s property, your company’s liability policy would help cover excessive fines, bills, and legal fees.
What Does Lumber Mill and Logging Insurance Cover?
It is customary for lumber mills to require you to carry at least one million dollars in Liability Insurance to do business with them. Logging companies specialize in safety and efficiency, but accidents can happen, even in the most safety-diligent places. It should be noted Liability Insurance typically covers third-party injuries and property damages. To adequately protect your employees or your equipment, you would need to purchase other insurance policies to work with your liability coverage, such as:
- Workers’ Compensation
- Business Owners Policy (BOP)
- Commercial Auto
- Commercial Umbrella
Lumber mills and logging companies stand to gain a lot by carrying Liability Insurance, but they are far from the only industry that could benefit. Other professionals in commercial sectors that should have Liability Insurance are:
- Electricians
- Plumbers
- Handymen
- Landscapers
- Painters
- Masons
- Carpenters
While liability coverages are essential, they are not the only insurance policies for protecting your business.
Does My Business Need Equipment Coverage Insurance?
The short answer is, yes! One of the great things about Liability Insurance is how easily it can be coupled with additional insurance policies. Equipment coverage provides financial protection from the cost of physical damages to logging equipment. Whether it’s a small hand tool or a towering harvester, your equipment is worth insuring. If your employed loggers are the most critical part of your forestry company, your equipment is next in line. Without your tools of the trade, your business ventures stop dead in their tracks.
Log Truck Insurance
Loggers have heavy cargo. Between the heavy-duty tools and the lumber itself, company trucks are put to fair use. The sheer size and weight of these vehicles automatically increase the risk of bodily injury and property damage, making the need for Liability Insurance even more evident. These vehicles can be intimidating for many insurance companies to cover. However, whether you’re looking for primary liability for your truck or full coverage, we’re here to help.
Our ever-growing knowledge of the forestry industry allows us to check industrial vehicles’ prices, which will enable us to better cover your commercial vehicle at an affordable rate.
Workers Compensation Insurance
Workers’ compensation is insurance that benefits both employees and employers. If an employee were injured while working with lumber, Workers Compensation would help the employer cover the medical costs that would surely follow. This coverage doesn’t only cover medical expenses, though. It also can help protect an employee’s loss of wages while they are in recovery and provide additional protection from lawsuits that your business may face in the aftermath. If the employee decides to sue you for negligence on the worksite, your work comp insurance policy could ease the financial strain of legal action.
In the state of Wisconsin, where Strouf Insurance and First National Insurance resides, Workers Compensation Insurance policies are required for all employers who do not meet the self-insured requirements.
Areas We Serve
Our professional and experienced team is honored to offer excellent insurance products to the residents of Park Falls, Hayward, and neighboring cities such as Phillips and Prentice can also be covered by our superior insurance products.
Related Policies
Strouf Insurance and First National Insurance carry a wide range of insurance products that can be bundled together to provide full and quality coverage to our clients.
- Commercial Umbrella: Offers additional liability coverage when a standard liability policy may fall short. If an incident were to occur, which exhausted your original policy’s financial limitations, Umbrella Insurance would be there as a backup plan.
- Business Income Insurance: Helps in the event of lost income due to covered peril. Common hazards that are covered under these policies are fire and wind.
Strouf Insurance and First National Insurance, are a capable and caring team that focuses on protecting your livelihood as a lumber professional. Our insurance policies are catered to their clients’ specific needs. Our high customer service ratings set them apart from competing agencies, and your Business Insurance is their top priority.
How Do I Learn More?
To learn more about Lumber Mill and Logging Insurance, contact Strouf Insurance and First National Insurance. Our licensed professionals will be happy to answer any questions you have.
