Beekeeper Insurance Vermont Policy Information
Beekeeper Insurance Vermont. Plenty of people keep bees to produce enough honey for their family or simply as a hobby - but commercial beekeepers will keep numerous hives, which have the potential to bring profit in a variety of different ways.
Beekeepers or apiarists collect bees' honey and other products such as pollen, beeswax, and royal jelly, place hives to pollinate crops, and/or to produce bees for sale to other beekeepers.
Bees live in hives that have traditionally been constructed of wood but are now available in polystyrene. Hives have removable covers and frames in which bees build honeycomb, allowing the beekeeper to inspect the hive for signs of disease (such as Colony Collapse Disorder) or parasites, an aging queen which means imminent swarming, or other conditions that require intervention.
The removable frames permit easy harvesting of honey and other products. Frames may be hung as an aid in pollination. The beekeeper may sell all its honey to manufacturers or may process all or some for retail sale.
If you are a commercial beekeeper, you will be thrilled to make your living by doing something you love - but nonetheless, you and your business are also exposed to some very real threats that could jeopardize your future plans.
Why is beekeeper insurance Vermont so important in safeguarding your apiarist business, and what kinds of coverage are needed? For more information, keep reading.
Beekeeper insurance Vermont protects apiarist businesses from lawsuits with rates as low as $37/mo. Get a fast quote and your certificate of insurance now.
Why Do Vermont Beekeepers Need Insurance?
Commercial beekeepers need to arm themselves with top-notch insurance for multiple reasons. Those who want to participate in sales fairs will need insurance, as do those who are planning on applying for a business loan.
The most compelling reason to carefully evaluate your insurance options is even simpler, though - as a beekeeper, you could face perils that endanger your business at any time, and carrying the right insurance is your best line of defense.
The beekeeper and anyone else who may be on the premises may suffer a variety of injuries over the course of beekeeping, ranging from bee stings to back injuries from the improper lifting of hives and burns while using smokers.
Your hives, beekeeping equipment, and inventory could suffer heavy losses or become completely destroyed as a result of acts of nature, like wildfires or serious floods. Theft and vandalism are two further threats, and if visitors to your premises, such as potential customers or vendors, are injured by your bees, they may decide to file a lawsuit.
In arming yourself with carefully-selected coverage, you prepare yourself for minor mishaps and major perils alike, thereby giving you peace of mind - when you know that you have done everything in your power to protect your colonies and your business, you can focus on what you do best.
Although this brief guide is aimed at commercial apiarists, it is also important for hobbyist beekeepers to realize that they, too, may require specialized beekeeper insurance Vermont, as their homeowners' insurance may not cover their hives.
What Type Of Insurance Do VT Beekeepers Need?
Beekeeping businesses may be small or larger, and the exact nature of their activities also varies. Because of this, beekeepers will have diverse insurance needs. Your VT location, the value of your equipment, the types of services you provide or the products you sell, and whether you have any employees, are all factors that help determine what types of coverage best suits your needs.
As a commercial apiarist, you will want to consult a commercial insurance broker to help you craft the right beekeeper insurance Vermont plan. With that in mind, all commercial beekeepers should consider:
- Commercial Property: Commercial property insurance does not only cover office buildings and factories; your hives and beekeeping equipment, as an outdoor property, can also be covered. In case of perils such as fire, theft, and vandalism, the loss you incur will be compensated.
- General Liability: This form of beekeeper insurance Vermont covers the legal costs that follow personal injury or property damage claims, for instance if a customer is stung and experiences an anaphylactic reaction. If you sell products, as opposed to services like beekeeping classes or pollination, you will also require product liability insurance to protect you in the event that a customer claims your product caused them harm.
- Business Auto: Whether you transport your hives for pollination services or take your honey to sell at a local market, beekeepers almost certainly use professional vehicles. These are not covered by personal auto insurance, so you will require commercial auto coverage.
- Workers Compensation: Beekeepers who employ workers will need workers comp to cover the cost of workplace injuries.
- Disability And Life:Especially as a "solopreneur", you will want to protect yourself in case your beekeeping activities, or any unrelated mishap, causes you to be unable to continue working. Life insurance will, meanwhile, help your loved ones avoid financial hardship if the worst were to happen.
Beekeepers should be aware that their insurance needs are heavily influenced by their individual business model. They may not need all these kinds of coverage, while requiring other types of beekeeper insurance Vermont. To find out more, speak to a commercial insurance broker.
VT Beekeeper's Risks & Exposures
Premises liability exposures are moderate as visitors may be stung by bees. Emergency medication should be available to treat allergic reactions. Apiaries are often visited by school-age children, other tour groups, and customers who can trip and fall on uneven walking surfaces or housekeeping hazards.
Visitors should be accompanied by an employee. All exits should be adequately marked. Bee droppings can cause damage to the paint on automobiles or equipment that is stored in the open under a significant bee flight pattern.
Hives may pose an attractive nuisance to children and teens. Appropriate precautions should be taken to prevent unauthorized access.
Products liability exposures are moderate due to the potential for contamination of honey, honeycomb, and royal jelly and, if raising bees, the passage of disease to a healthy hive. Effective procedures are required to ensure that stock remains healthy. There should be an effective working recall program that can be activated immediately.
Workers compensation exposures are moderate due to the interaction with bees that can sting employees. Protective clothing should be used, particularly to protect the face and neck. Emergency medication should be available to treat allergic reaction to stings.
Workers may be seasonal, speak another language, and lack adequate training and supervision. Slips, trips, falls, back injuries from lifting, foreign object in the eye, and muscle strains are common. Exposure to smoke can lead to respiratory issues.
Property exposures are light as hives are inexpensive. Beekeeping does not require a lot of equipment unless the beekeeper processes honey and honey comb for retail sale. Severe winds and tornados may destroy property in certain geographical areas. Fuel used in smokers may start a fire if it encounters combustibles.
Crime exposures are from employee dishonesty and theft but are relatively minor if there are no retail or delivery operations. Pre-employment checks should be conducted for employees. Inventory controls should be in place. All ordering, billing and disbursements should be separated.
A money and securities exposure exists if there are retail operations on premises or if products are delivered to customers. Some operations equip the hives with a Global Positioning System (GPS) to aid in recovering the hive in the event of a theft.
Inland marine exposures may include accounts receivable if the beekeeper bills customers, computers, goods in transit, and valuable papers and records for documents needed to substantiate FDA requirements and product information that may be needed in case of a recall.
Goods in transit may be condemned as unfit for consumption in the event of collision or overturn. Overturn of vehicles transporting bees can cause significant losses.
Commercial auto exposures may be limited to hired and non-owned if carriers or processors transport products to processing centers. If the beekeeper transports its own stock, the exposure increases. Drivers must be appropriately licensed and have acceptable MVRs.
Vehicles must be well maintained with records kept. Overturn of vehicles transporting hives can cause considerable damage when the bees swarm and the colony moves to a location within a nearby building.
Beekeeper Insurance Vermont - The Bottom Line
To protect your apiarist business - having the right beekeeper insurance Vermont coverage is essential. To learn what types of options are available, how much coverage you should invest in and the premium - speak to a reputable commercial insurance broker.
Vermont Economic Data, Regulations And Limits On Commercial Insurance
For business-minded individuals who are either thinking about launching their first organization or established entrepreneurs who would like to expand their operations, there are several factors that need to be taken into consideration before proceeding. Of those factors, top on the list of importance is location.
The target market and demographics of a location must be favorable for the industry in order for a business to be successful. By analyzing the unemployment rate of a specific state and the key industries that are flourishing with that state, business owners can determine whether or not the will amass the success they are hoping to achieve.
In addition to understanding the economic data of a state, it's also important for proprietors to know what type of commercial insurance they are required to carry.
If you're considering Vermont as the headquarters of your operation for a branch of your already existing business, read on to for an overview of the economic data and commercial insurance requirements in the Green Mountain State.
Economic Trends For Business Owners In Vermont
In December of 2019, the Bureau of Labor Statistics reported that the unemployment rate in Vermont was 2.3%; 1.2% lower than the national average of 3.5% during the same time period. While the state's unemployment rate did rise slightly – it was 2.1% in July of 2019, for example – these statistics sill indicate that Vermont has a healthy economy that is conducive for business owners and residents of the state.
The favorable tax climate, the healthy environment, and the overall quality of life in Vermont are just some of the reasons why the economy in this state is booming.
As in most states, densely populated urban areas offer the most promise for businesses. These regions offer a larger workforce and market than smaller suburban and rural areas, they're easier to access, and they are more closely connected with surrounding states and the region of New England, as a whole.
With that said, the top places to start a business in Vermont include:
Several industries are seeing significant growth in Vermont. At the time of writing, the following sectors were seeing the most growth in the state:
- Food and beverage
- Health care
- Hospitality and tourism
- Professional services
Commercial Insurance Requirements In Vermont
The Vermont Department of Financial Regulation regulates insurance in VT. Vermont mandates very few forms of insurance coverage by law. They enforce worker's compensation.
Vermont requires you to have worker's compensation insurance if you hire even one employee on a regular basis. This includes part-time employees, family members, minors, and immigrant employees. It is not required for independent contractors or domestic employees, though you should check to make sure any contractors you have are true contractors, and not employees.
Vermont also requires all business-owned vehicles to be covered by commercial auto insurance. Other types of business insurance that business owners should carry depend on the specific industry.
Additional Resources For Agribusiness Insurance
Learn about small business agribusiness insurance - a type of commercial insurance protects farmers against loss of, or damage to crops or livestock.
- Insurance Farming Terms Glossary
- Aquaculture Fish Farm
- Commercial Fishermen
- Dairy Farm
- Equine & Horse Farm
- Farm And Ranch
- Farm Equipment Dealers
- Farm Labor Contractors
- Livestock & Cattle
- Mushroom Farms
- Nursery And Greenhouse
- Nut Farm
- Orchards & Groves
- Poultry Farm
- Sheep & Goat Farm
- Swine, Hog & Pig Farm
- Tobacco Farm
- What Are Farm And Ranch Insurance Endorsements?
Farming is, and has always been a tough business. There are many uncontrollable factors for farmers to deal with - like the weather, vermin, or other natural catastrophes. Any of these can destroy cash crops, such as corn, cotton, soybeans, and wheat, and put the farmer in a very bad financial situation.
Insurance for agribusiness falls into three general categories:
The first is property insurance on the buildings and the usually substantial amount of business personal property made up of machinery, livestock, equipment and other stock.
The second is liability for both premises and products.
The last is protection for worker injuries. Commercial auto insurance should be written if the operation owns vehicles and especially if it transports its own products.
There are a wide variety of agribusiness insurance options that are available to farmers. These policies allow them to to receive compensation in the event of a poor growing season, dropping prices, cattle disease or catastrophic natural event.
Loss of crops or livestock can financially ruin an agribusiness operation. The crop insurance agrees to indemnify the farmer, rancher or grower against losses which occur during the crop year. Losses have to be caused by things which are unavoidable or beyond the farmer's control - like a drought, freeze and/or disease.
Some policies offer coverage due to adverse weather events such as the inability to plant due to excess moisture or losses due to the quality of the crop.
Minimum recommended small business insurance coverage: Buildings, Business Personal Property, Crop Insurance, Employee Dishonesty, Accounts Receivable, Computers, Goods in Transit, Mobile Equipment, Valuable Papers and Records, General Liability, Environmental Impairment, Umbrella, Business Automobile Liability and Physical Damage, Hired and Non-owned Auto & Workers Compensation.
Other commercial insurance policies to consider: Business Income and Extra Expense, Earthquake, Equipment Breakdown, Farm Owners, Flood, Computer Fraud, Employee Dishonesty, Forgery, Money and Securities, Cyber Liability, Employee Benefits, Employment-related Practices Liability, Product Recall, Underground Storage Tank, Stop Gap Liability and Unmanned Aerial Vehicles (UAV) (Drones).
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