A Beginner's Guide to Finding Insurance for Portable Sawmills

A Beginner's Guide to Finding Insurance for Portable Sawmills

Did you know that the sawmill was invented on December 15th, 1593?

Since then, sawmills have played an essential part in the booming of the wood product industry.

As technology has continued to evolve, portable sawmills found today are comprised of unique machines and automated systems that make it easier to prepare logs. Even if you're the owner of a portable sawmill, many events can take place that can damage your business process, your employees, and your equipment.

That's why it's so important for you to invest in portable sawmill insurance.

Are you interested in learning about why you need to invest in insurance for your portable sawmill? We have created this complete guide to help you get a thorough understanding. Keep reading to learn more!


Why Do You Need to Have Insurance for Portable Sawmills?

As a business that works with wood and lumber that comes in various sizes and shapes, you're exposed to many risks. No matter if you're working with wood that comes from lumber yards, furniture manufacturers, loggers, or building material manufacturers, your job is presented with unique risks that not many other industries face.

Even if you only operate your portable sawmill a few times a day, the environment that you're operating in is filled with dangers. Some of the dangers include electrical components, machinery that can malfunction at any time, raw materials that are highly flammable, slippery surfaces to walk on, and other various dangers that can greatly impact your business' ability to operate.

There are a lot of portable sawmills that don't have any insurance. Sawmills are considered to be a risk for many insurance companies to insure. This is because of the many risks that are associated with this line of work. Also, not many insurance companies in the world have the expertise that is needed to support having portable sawmill insurance.

That's why it's so important for you to find an insurance company. The insurance company should be willing to provide you with portable sawmill insurance. They should also be familiar with specialized coverage that your business needs.


Types of Insurance Policies Your Company Needs

There are several different types of liability insurance that you can invest in for your company to keep yourself and your company protected from lawsuits.

The purpose behind liability insurance is to protect your company from liability if there was ever any sort of property damage or injury that occurs. Depending on the size of your company, an insurance company may be able to provide you with a customized insurance policy that addresses all of the risks that your business faces.

Some of the types of liability insurance policies that your company May benefit from include:

  • Commercial general liability insurance
  •  Product liability insurance
  •  Commercial auto insurance 
  • Pollution liability insurance

A trained insurance agent will go over each of these types of liability insurance and provide you with information on which type of policy may be the best option for your company.

Commercial General Liability Insurance

 Commercial general liability insurance will keep your company protected from any liability claims that are filed by:

  • Contractors
  • Customers
  • General public
  • Delivery people

Commercial general liability insurance will also keep your company protected from the costs of any lawsuits that go to court. Generally, this type of insurance will be used in an instance where someone is injured on your property or if there is any property damage that occurs when someone is on your business property.

A commercial general liability insurance policy will cover any court costs, judgments, court-ordered settlements, and a legal defense team's cost.

Product Liability Insurance 

Product liability insurance will keep your business protected in the instance of any defective products. A customer or contractor can sue you if the wood that you are producing is defective and causes an injury to a bystander, the person using the wood, or an investor in the wood.

Depending on the insurance policy that your company has, some of the costs that product liability insurance covers will cover under your commercial general liability insurance. However, you can also invest in product liability insurance for additional coverage to protect your business.

Commercial Auto Insurance

Commercial Auto Insurance is necessary if your business owns or operates any type of vehicle. For example, if you use lodging trucks to transport any materials to customers or from a location, you need commercial auto insurance.

Commercial auto insurance will financially protect your company if there is an accident that occurs or if your company a vehicle damages any property. This type of auto insurance will protect your company from the costs of any vehicle damage, medical bills, bodily injury liability claims, property damage, and the costs of hiring a legal defense team.

Pollution Liability Insurance

If your company produces any hazardous waste, pollution liability insurance will cover the costs that come from any liability claims. 


How to Find Sawmill Insurance

Finding insurance for your company may be difficult. As we've mentioned above, there are unique risks that come with running a sawmill. The type of insurance coverage needed will significantly vary depending on several factors.

Some of the factors that will impact your insurance include: 

  • The value and the type of equipment you own
  • The location and the size of the building you own
  •  How many employees you have
  •  What type of operation your business is
  •  If your company owns any vehicles

We recommend that you work with an independent insurance company so that you can find the right type of coverage for your insurance. Always be sure to do your research and gather multiple quotes from different insurance companies. This will give you an idea of the average insurance rate and how much it should be paying to keep your business protected each month.


Understanding Why You Need Portable Sawmill Insurance

Having portable sawmill insurance will keep your business protected from all sorts of unforeseen circumstances and events. 

Now that you have a solid understanding of why you need insurance for your portable sawmills, it's time for you to purchase a policy. Finding the right insurance company to keep your business protected can seem overwhelming, but we're here to help you.

Click here to contact us today to learn what coverage options we can provide your business with.