What you need to know about protecting your Junk Dealer Business
As a junk dealer, you are providing an essential service that helps to cut down on the amount of recyclable waste that makes it into Canadian landfills. Properly disposing of junk makes sure it is dealt with in an environmentally responsible way. You may take junk directly from the public, or possibly you are contracted by construction companies to help haul that waste from building sites. Whatever the nature of your business, you play a key role in waste disposal. You may help goods be repurposed by other owners, or possibly help waste get broken down into component parts that can also be reused or refurbished. However, with any type of junk removal business, there is an element of risk involved.
Do Junk Dealers Need Insurance?
Yes, yes they do! As you are well aware, dealing with scrap materials and other discarded junk can be dangerous. While the products and materials you deal with can vary greatly, many are potentially hazardous because you don’t know where they are coming from or much about their condition. Surplus construction materials, metal scraps, vehicle and appliance parts can all form part of the junk that you make use of in your business. Recycling and dealing with this waste can put you and your employees at risk, so it is important to discuss your specific needs with an ALIGNED broker. With us, you can get a customized insurance package that specifically addresses the risks that your business faces, day in and day out.
The following are some of the insurance coverage options that may apply to your Junk Dealer business:
General Liability Insurance protects against liability claims for bodily injury and property damage related to your premises, operations, products, completed operations as well as advertising and personal injury liability. As well, it often includes:
- Products Liability Insurance – which covers liability for bodily injury or property damage incurred by a merchant or manufacturer as a consequence of some defect in the product sold or manufactured.
Commercial Property Insurance basic property insurance covers losses due to fire or lightning, including the cost of removing property as a way to protect it from further damage. You can also buy a standard policy with coverage for extended perils, such as floods, windstorms, hail, earthquakes, acts of terrorism, explosion, riots, smoke, civil commotions and vehicles that damage your property. Beyond this, coverage for vandalism and malicious mischief can also be included.
For example, a lightening strike damaging a critical piece of equipment on your property.
Commercial Auto Insurance is necessary for your business if you and your staff operate company vehicles as part of your business. By way of example, one of your staff members backs into a customer’s vehicle while leaving your business site. You have to pay for the damages. This is an example of the value of commercial auto insurance. Learn more about liability, property and accident benefits here.
Depending on what sort of junk you are collecting in your Junk Dealer business, you may need to consider adding Pollution Liability Insurance to your portfolio. For example, one of the old vehicles you accepted as junk leaks oil, which contaminates a nearby stream. The regional government seeks cleanup costs from you. Learn more about the complexities of pollution liability risks here.
As a Junk Dealer, you provide a necessary service by taking debris leftover from construction, and other unwanted items and materials from your customers, whether they be the public or other businesses. Much of this material is hazardous and you need to protect yourself and your business from anything that could go wrong.
Find the Right Junk Dealer Insurance from ALIGNED
ALIGNED works with Canada’s top insurance companies to provide custom insurance packages at affordable prices. Click Here To Get A Quote or contact one of our business insurance experts for information or with any questions you may have.