I bet you if you google the most dangerous occupations in the world, logging will appear in the top 10 list. According to data collected from a reputable source at least 66 loggers sustain fatal injuries annually. Out of the total fatalities, at least 25% are caused by falling logs, commercial trucks, and logging tools and equipment.
Loggers face the same perils that arborists face. It's not only a reasonable but also a financially enhancing move that a logging company insure itself from the unpredictable and imminent risks involved in logging. Let's discuss how this insurance can help, how much premiums cost, and the best companies.
|CoverWallet||NEXT (Best)||Thimble||Hiscox||The Hartford|
|Per occurrence limit||$1,000,000||$1,000,000||$1,000,000/$2,000,000||$300,000/$2,000,000||$1,000,000/$2,000,000|
|Products and completed operations aggregate limit|
|Advertising injury coverage aggregate limit||$1,000,000||$1,000,000||$1,000,000||$1,000,000||$1,000,000|
|Tenant’s legal liability coverage limit|
|Waiver of subrogation included?||Yes||No||Included||Excluded||No|
|Hired/non-owned auto liability coverage included?||Yes||No||Excluded||Excluded||Can be included|
|Equipment breakdown floater included?||No||Yes||Yes||Excluded||Can be included|
|Can you get a certificate of insurance online?||Yes||Yes||Yes||Yes||Yes|
|Name additional insureds?||Yes||Yes||Yes||Yes||Yes|
A logger general liability insurance is a coverage that protects your logging company from any claims that might cause third-party bodily injury and property damage during your company’s operations. This policy can also be referred to as a logger business liability insurance.
You can acquire this must-have logger policy from a private insurance company or agency, a government-run insurance agency, or a monopolist state fund organization. This lumberjack insurance is best for a logging company that works with temporary employees. Logging companies that use social media handles to advertise their services should also consider using this policy.
The coverage limits typically range from $1,000,000 to $2,000,000.
Here are some of the situations where general liability insurance can help:
A log from the truck accidentally offloads and crushes a car behind it
A tree falls on an independent contractor during a tree-cutting operation
The logging truck capsizes and its load rolls on a house near the road
Below is a list of some of the costs that a logger general liability insurance cover:
Medical expenses of your company's employees that have been predisposed to work-related injuries and ailments
Defense expenses such as court costs
Property damage costs
Third-party bodily injuries and property damages caused by your logging company, employees, or any other party working on your behalf
Below is a list of the things this essential policy doesn’t provide cover for:
Vandalism and theft of your company’s property
Any auto-related accidents that may be caused by your logging company or your staff/employees
Your employees’ bodily injuries and work-related sicknesses
Mistakes and errors caused by you or your employees' professional services
|Offered as an endorsement to general liability insurance?||Yes||No|
|Covers hired and borrowed equipment?||Yes||Yes|
|Miscellaneous equipment also covered?||Yes||Yes|
Logging equipment insurance policy works to protect loggers’ tools and equipment that are $10,000 from theft and damage. This invaluable loggers’ policy also covers loggers insurance cost associated with replacing lost tools and equipment. Please note that this policy doesn’t act or serve as an extended warranty
The forestry equipment insurance coverage limit is $700-$1,500 per tool. There are insurance companies willing to give higher payouts.
If the tools and equipment are more than 5 years old
If the tools and equipment have been damaged by general wear and tear
If the tools and equipment being insured against are not moveable
In the event, that its tools and equipment are stolen, vandalized, or get lost
In the event rented equipment gets damaged
Logging equipment insurance companies cover the following insurance costs:
Stolen, vandalized, and lost loggers' tools and equipment
Any damage to a rented equipment
|CoverWallet||NEXT (Best)||Hiscox||The Hartford|
|Building coverage limit (minimum)||$50,000||$110,000||$15,000||$35,000|
|Contents coverage limit (minimum)||$50,000||$15,000||$15,000||$35,000|
|Money and securities||Excluded||$2,500||Included||Excluded|
|Lock and keys||Excluded||$2,500||Excluded||Excluded|
|Business interruption floater||Excluded||Included||Included||Excluded|
|Equipment breakdown floater||Excluded||Included||Excluded||Excluded|
|Inland marine insurance floater||Excluded||Excluded||Excluded||Excluded|
|Employee dishonesty floater||Excluded||$5,000||Included||Excluded|
This is a type of coverage that protects loggers' rented or owned buildings and physical assets such as tools and equipment, furniture, and landscaping features such as fences from any losses that might be caused by vandalism, fire, and natural calamities such as hurricanes and lightning.
It’s approximately $300,000 to $1,000,000.
Below are some of the circumstances that may necessitate one to use commercial property insurance for loggers:
In the event, your property was destroyed by fire and natural calamities as defined under this policy
In the event, your company's physical assets such as computers and other office equipment were destroyed or lost due to vandalism and theft
In case your company incurs income loss due to disruption of your day-to-day activities
Below are some of the costs that logging insurance companies may compensate you for if you have this policy:
Loss of physical property due to theft, vandalism, and fire
Loss of income due to disruption of your company's revenue-generating activities
Damage of property due to natural calamities such as floods
|CoverWallet||NEXT (Best)||Hiscox||The Hartford|
|General liability aggregate limit||$2,000,000||$2,000,000||$300,000/$2,000,000||$1,000,000/$2,000,000|
|Commercial property coverage limit||$50,000||$25,000||$25,000||$35,000|
|Optional policies can be added?||Yes||Yes||Yes||Yes|
|Name additional insureds for free?||Yes||Yes||Yes||Yes|
This is insurance coverage that merges the general liability and commercial property insurance policies. Under this policy, a logger's buildings (whether rented or owned) and the physical assets found in them are protected against any liability claims that may arise in the event of losses. It also covers third-party items which are under the care of the policyholder.
The approximate coverage limits of this policy range from $100,000 to $1,000,000.
Here are some of the situations where a BOP can help:
When your logging company is served with a lawsuit by a third-party
When a logging company experiences financial constraints due to the interruption of business activities
A BOP can be used to cover the following costs:
Legal fees caused by lawsuits
Loss of income
Financial responsibilities such as paying rent and your employees in the event of disruption of business
Damages caused to your building and physical assets such as computers, inventories, and furniture due to vandalism, theft, and fire
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The ELI policy was created to fill the insurance void that was created by the property insurance and pollution exclusions in liability policies. This insurance policy is of immense importance to loggers who work or deal with hazardous materials. Its primary function is to protect them from claims arising from liabilities and property losses caused by sudden or gradual unintentional pollution-related accidents on the sites that have previously been inspected and confirmed to be unpolluted or uncontaminated.
This policy's coverage limits range between $2,500 to $500,000.
Here are some situations where environmental liability insurance can help:
The logging truck falls on a cliff. It’s engine is busted and leaks oil and gas into the nearby stream
Debris from a tree cutting operation was left unattended and damaged wildlife as well as the surrounding vegetation
Below are some of the costs that the environmental liability insurance for loggers covers:
First and third-party cleanup costs
Judicial, legal, or defense expenses
Bodily injuries as defined under this policy
Property destruction or damage
Nuisance claims such as noise pollution arising from logging activities
This is a uniquely tailored commercial truck insurance policy designed to protect logging trucks from any unprecedented risks that may cause them financial losses.
The logging truck insurance coverage limit is approximately $750,000.
Here are some of the situations where logging truck insurance can help:
If an attached machinery or equipment is lost or damaged
If the logger’s truck is damaged by fire, theft, or natural calamities
If the logging company faces financial losses due to the cargo being transported getting lost or damaged
Below are some of the loggers insurance costs that the logging truck insurance covers:
Bodily injuries dealt to third parties due to vehicular accident
Damages on your truck caused by fire, theft, natural disasters, and vandalism
Damage on your truck due to collisions
Losses that occur due to damage to any machinery or equipment attached to the insured truck