Looking for insurance for pet sitting, also need info on how to get bonded for same.?
Answer:
Contrary to what mbrcatz17 said, you do not corporately or personally need to indemnify on Business/Janitorial Services bonds. Indemnification, related to surety, is when the insurance company pays a claim on your bond and the Principal (you in this example) reimburses them for any and all monies they pay out on the Principal’s behalf. Business/Janitorial Services bonds are more akin to regular insurance - where you pay the premium and if there is a claim, you don’t need to pay the insurance company back anything. Think of your auto insurance. If you bang your auto up and the insurance company pays to fix your car, do you need to pay back the insurance company any money? No. The same thing with Business/Janitorial Services bonds – you don’t need to pay them back.
These bonds are relatively cheap. An example of coverage would be for five or fewer employees at $10,000 in coverage, the premium would be in the $125 range, annually. This would cover theft, by you or your employees, of your client’s property while on their premises. Conviction of the crime would be necessary for the insurance company to pay out on a claim. And once that happens they cancel the bond.
You do not need a separate bond for each client you have. The bond will cover you and your employees at how many different client locations you serve.
Liability insurance would cover damage to the client’s property, bodily injury etc. This would be highly recommended. Just think if you are pet sitting and happen to break something while in the client’s house. Without insurance you would be liable to replace the item from your own pocket. With the insurance, the insurance carrier handles this for you.
Hope this helps.
Hopefully if you are pet sitting, you either have a home or a car to get to the pet owners home. If you have insurance on either your home or your car, call your agent for a personal liability bond
WHY?
Insurance for pet sitting is NOT going to cover if, for example, you take the dog for a walk and he gets hit by a truck. It will cover (stretching my brain to give an example here) if you leave the leash out on the porch of someone's house, and the mailman trips and breaks his leg, and sues YOU for damages. The person's homeowners insurance will protect THEM, if the mailman sues THEM.
Bonding. What do you think bonding means? I'll tell you what it REALLY means - it's a guarantee, that the insurance company will pay the client (a SPECIFIED client, you'd need one for each client) a specified amount, if your employee steals from them. OR, if you steal their dog. OR, if you specify, that you will take the dog out 3X a day so it doesn't p**p on the carpet. The problem with the bond is, in order to get one, you personally have to cough up the funds to guarantee it. So if you don't have $10,000 sitting around, you're not going to get the bond.
Oh, pet sitting insurance. Expect this to cost you about $900 a year.
Which might explain why no pet sitter I've ever USED has ever had business insurance; and why no pet sitting insurance I've ever QUOTED has been actually purchased.
And where to find it - your regular insurance agent should be able to get you a quote on this.
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