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Zoo Insurance: Cost, Liability & Quotes From $5

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A zoo is a facility where animals are hosted within enclosures. They are cared for and displayed to the public. In some cases, these animals are bred for conservation purposes. If you own a zoo, you understand the various risks it poses. This is why it is essential to get zoo insurance that protects you from possible lawsuits. 

To enlighten you on the importance of business insurance for zoos, we will discuss it in detail and mention its cost. We will also highlight factors affecting its price and what it covers.

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Zoo Insurance Cost

The average zoo insurance cost is about $150 per month or $1,050 per year. Petting zoo insurance cost may get much lower though, around $50 per month or $600 a year for petting farm insurance (general liability). While the cost of a zoo insurance policy is easy to estimate, several factors determine its price. Here are some of those factors.

Location

Location is one of the significant factors that determine the cost of business insurance for zoos. If your zoo is located in a busy city where many people are likely to explore it, you could spend more on your insurance policy. Zoos with high traffic mean more people could sustain injuries in your zoo, increasing the risk of claims. On the other hand, if your zoo is located in a lower populated area with minimal activities, you won't spend much on your insurance cover. These areas are generally safe, and the risk of animals causing damage to visitors is low. However, it would help if you had zoo insurance to protect your employees.

Just like hospitality insurance, the state your zoo business is located in also determines the cost of insurance. Some states have set limits on the kind of zoo insurance policy every zoo business should have. For instance, when the limit is $200 per month, you must have an insurance policy above this amount. Furthermore, some states also need you to have specific insurance policies that could be costly. Therefore, it is essential to check the laws of your state before getting zoo insurance. 

Number of Employees

You cannot run a zoo on your own. Given the many activities in a zoo, you will need several employees. If you have many animals to care for, you will need more employees. The more employees you have, the more expensive your insurance policy will be. Insurance companies will ask how many employees you have before deciding the total cost. This is important because the insurance covers all of your employees. When one is attacked by an aggressive zoo animal and sustains serious injuries, zoo insurance will cover their medical expenses. This is why petting farm insurance will cost more if you have many employees. 

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Claims History

The rate at which a claim is filed against your zoo business also determines the cost. If your business faces many lawsuits due to injuries or property damage, you will spend more on insurance. As a zoo owner, you know the damage animals can cause during the operation of a zoo. For example, you may have an open day at the zoo with hundreds of people coming in to see animals. Then, one of your animals manages to break the lock and starts running towards the visitors. Afraid of their safety, they rush in different directions. At the same time, some trip and fall, breaking ankles and sustaining other serious injuries. When that happens, zoo insurance will cover the medical expenses. This is why insurance companies check the claim history before deciding the price.

Size of the Zoo

How big is your zoo? If you have a large zoo with hundreds of animals, you need a higher insurance policy. This is necessary because the chances of claims or lawsuits are high. Besides, an established zoo attracts an increased number of visitors, meaning the risk of injury is high. When the zoo has many people, injuries could also be many when an animal breaks loose and causes chaos. On the other hand, you won't need an expensive insurance cover if you have a start-up zoo with only a few animals.

Zoo Insurance Coverage Scope

Zoo insurance covers a wide range of claims. Discussed below are some of them. 

Public Liability Insurance for Zoos

This is a claim arising from damage caused by your zoo business, just like the vendor liability insurance, for vendors. For instance, when a visitor is taken down by one of your animals and sustains serious injuries, zoo insurance covers it. Similarly, when a visitor's property is damaged within the zoo, you could be held liable. For instance, a person comes in with their car to explore the zoo. Then, they run over a twig that damages the car tires due to a lack of proper organization. This person could file a claim against you for damages. In that case, public liability zoo insurance will cover it. 

Employers Liability Insurance for Zoos

You can't operate a zoo on your own; you need several employees. When an employee sustains serious injuries when working in the zoo, they could file a claim against you. The lawsuit could be costly, especially if the employee sustains life-threatening injuries. With an insurance cover, you could spend hundreds of thousands of dollars in settlements. Thankfully, petting zoo insurance covers such costs. This will help keep your business stable. 

Livestock Insurance for Zoos

The animals in your zoo are precious to you and your business. In fact, they are the only reason you have a zoo! When anything happens to these animals, your business could be at risk. This is why you should get zoo insurance that covers them. For instance, when they contract a dangerous contagious disease and they all succumb to it, zoo insurance will help you replace them. The same applies to when they are stolen. 

Transit of Animals

It is common for zoo animals to be moved from one place to another for breeding or other purposes. Animals are not like any other item and need planning when transporting. Many risks surround this process and could result in severe losses. Zoo insurance covers the transportation of these animals from one place to another, eliminating the risk of losses. Some insurance companies also provide experienced movers to help you transport the animals. It is important to note that this policy is available under comprehensive insurance policies. Therefore, you will have to buy a higher insurance package to enjoy this policy.

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