The logging and forestry industry has unique needs. As such, its insurance will have to follow suit. Keep watching for a breakdown of what logging insurance entails. In addition, we'll take a thorough look at the different insurance sub-categories logging and forestry insurance can cover.
LOGGING INDUSTRY RISKS
Even though the logging industry is varied in nature, from logging in a dense forest or hauling logs to the mill, there is a multitude of risks that are common to the industry. The main risk comes with cutting down trees. Of course, that's the industry's core job. However, during the process of cutting down trees things can go wrong. For example, a felled tree can accidentally damage someone's property, the person who's cutting it down, or even the equipment that's been used to cut it down. This is why logging businesses try their best to have a controlled process, where trees won't harm people or buildings on their way down. In addition to that major risk, there are other risks to keep in mind. Issues like theft, fire, and even vandalism can cost a logging business thousands of dollars in the long run, if not covered by an insurance policy.
LOGGING EQUIPMENT INSURANCE
Nothing can wreak havoc on a logging business more than uninsured equipment. This includes trucks and tractors that are used to transport equipment and timber. These are items that you need to have a functioning business operation. Therefore, if any unexpected damage occurs, logging equipment insurance can cover the damage. The faster you replace damaged equipment, the sooner you get your operations back to normal. In addition, you can specify which items your logging insurance can cover for extra peace of mind. For instance, you can cover your slashers, feller bunchers, sliders, and processors.
CARGO INSURANCE
Now that you have your transportation equipment covered, it's time to tackle the actual material you're moving from point A to point B. That would be your cargo. Whether you're moving cargo from or to your job site, the cargo is worth a lot of money. If your cargo gets damaged, lost, or even destroyed, it'll cost you even more time and money to get replacements. However, with cargo insurance, you can prevent it from causing too much damage to your business deadlines and your bottom lines.
POLLUTION LIABILITY INSURANCE
When it comes to nature-based industries like logging and forestry, it's almost guaranteed that you'll have to deal with pollution damage at one point or another. Having pollution liability insurance will protect your business operations when any spills, accidents, or other substances make their way to your surrounding environment. This type of liability insurance will cover the cost of the inevitable cleanup.
WORKERS' COMPENSATION
For this type of insurance, you might already be required to have it on hand, according to your state laws. Regardless, having workers' compensation is important for businesses that have high probabilities of their employees getting injured on the job. This insurance will provide peace of mind for your employees because they know that they'll get compensated if they get hurt. In addition, this will remove the fear of not being able to pay their medical bills for both the employee and their employers.
INDIVIDUAL INSURANCE
All of the previous types of insurance are typically catered to businesses. However, that doesn't mean that you shouldn't get separate individual insurance. Sometimes, business insurance and workers' compensation can only cover so much. Whether you're a lumberjack, a supervisor, or a heavy equipment operator, getting covered by insurance can provide enormous relief from the monetary burden that can follow an accident.

You can contact us if you have any questions about what insurance can fit you best. We'd be more than happy to help. Just make sure you grab your free quote before you go. And if you enjoyed this video, be sure to like, comment, and subscribe!

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There's no one answer as to which logging and lumber insurance are the best. Many things should be considered when pondering which logging and lumber insurance are right for your company! Keep watching for some of the top things to consider when choosing logging and lumber insurance.
MOST COMMON RISKS
One of the biggest things to consider when looking for the perfect insurance is the type of risk your business may face. What risks will your employees or visitors encounter on the worksite? What are the risks of transporting lumber? These are some of the most important questions to ask yourself when assessing risks or your business. Always take time to assess your companies personal needs which may be different from other companies in the industry. Remember, your business is unique, thus your insurance needs may also be unique!
PRICING
One of the best and worst things about the insurance industry is the wide range of pricing. While this range usually means that customers can get a great deal, it also means that a bit of research must be done first. Do your due diligence and compare several options before finding the right price for you.
OVERALL VALUE
Another thing to consider when looking at the price of your insurance is if the premiums and deductibles are actually worth the overall coverage. Some insurance companies may boast low premiums or deductibles but leave you with lackluster coverage. Other companies may charge premiums and deductibles that are completely unreasonable and only offer minimal coverage in return. Paying attention to the numbers and taking the time to research now, can save you both time and money in the long run.
RIGHT INSURANCE COMPANY
One of the most daunting tasks when it comes to choosing the right insurance is picking the best insurance company. You'll want a company that is reputable and offers high-quality services. You'll also want to ensure that your insurance company is highly communicative and ready to handle any questions or concerns you may have. A great insurance company is one that takes the time to get to know you and your business. They'll also make you feel more comfortable knowing your business is protected by high-quality insurance.
INSURANCE COVERAGE
There are a variety of different types of insurances to choose from. Knowing the types of insurance your company may need can be a hassle. These are the top 5 types of insurance used for lumber and logging companies: General Liability, Property Insurance, Flood Insurance, Commercial Auto Insurance, and Umbrella Insurance
SIZE OF COMPANY
Another thing to consider when purchasing logging and lumber insurance is the size of your company and the number of employees you'll be ensuring. Some companies have special rates for ensuring a specific number of employees. Companies may also offer premium rates if you decide to prepay instead of paying monthly.
THE BEST TIME
Whether you've been in the industry for decades or are starting a new lumber company entirely, you may wonder what the best time is to purchase insurance. The best time to purchase insurance is sooner rather than later! You never know when an accident will happen, having coverage as soon as possible can help keep both you and your company safe.
It's important to remember that these are just some of the many factors that go into picking your logging and lumber insurance. Such a major decision, which could affect the livelihood of your employees and business, should not be taken lightly.

If you're looking for top-tier insurance and personalized advice on what kind of coverage is right for you, look no further than the Hummel Group. If you're ready to begin the first step to getting great coverage for your business, get a quote today! And if you enjoyed this video, be sure to like, comment, and subscribe!

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