What if you were running one of the world's most dangerous businesses and you didn't even know it?

This is the reality for modern American loggers. Research has shown that nearly 150 loggers die every year from traumatic workplace injuries. In fact, logging fatality rates are 23 times higher than in the average workplace.

A job this dangerous requires the right insurance. However, commercial insurance is often very different from personal insurance. And you may not know where to start when it comes to protecting your business, your workers, and yourself.

To help you get the protection you deserve, we put together this ultimate guide of insurance for loggers. Keep reading to discover answers to all of your questions!

Why Insurance Is So Important For American Loggers

We already covered the main reason that insurance is so important for loggers: simply put, it is very dangerous work. But there are other reasons why your business needs the protection that comes from good insurance.

Liability is a major example. Without the right insurance, a single lawsuit from an employee or site visitor could sink your business. Even if the court rules in your favor, nobody wants to deal with all those legal fees.

Let's take a closer look at liability insurance and what it can do for you to help you understand why good insurance coverage is so important.

The Importance of General Liability Insurance

Every good commercial insurance provider offers general liability among other types of insurance. "General liability" typically refers to a combination of bodily injury, property damage, and personal injury.

General liability coverage protects you against claims that others make against you. For example, think about how easy it would be to accidentally cause property damage with some of your specialized logging equipment. With general liability insurance, you are protected against property damage claims others may bring against you.

At first glance, you might think that "bodily injury" and "personal injury" sound similar. But they refer to two very distinct claims that general liability can protect you from.

In a bodily injury claim, someone else is expecting you to pay for things like medical bills related to an injury they think is your fault. The exact dollar amount is easy to calculate, and general liability coverage means you won't be paying out of your own pocket.

Personal injury refers to broader damages related to a potential workplace incident due to negligence. For example, "personal injury" may include the cost of someone's physical rehabilitation if they were injured by a sawmill. And insurance for sawmills may also include the loss of income and (in the event of death) burial and funeral expenses.

With the right policy, you can protect yourself and your business from all of this and more!

Business Property Insurance

Business property insurance is a fairly straightforward concept. This type of insurance protects both your buildings and the content within those buildings. It can also protect your business from accidents and from loss of income.

Before getting insurance for loggers, it's important to take note of what's covered and what's not. For example, while a typical policy protects against fire damage and wind damage, it probably doesn't protect against floods. If you think floods will affect your business, you need to get a separate policy.

It's also important to know how much coverage you need. If you rent your business building(s), you should refer to your contract to review what is and is not covered. If you own the building(s), though, you'll need to decide what kind of coverage you need.

You must typically choose between replacement value and actual cash value. Actual cash value insurance is cheaper because it pays out the actual cash value of a potentially-depreciated building. Meanwhile, a replacement value policy pays whatever it will cost to construct an entirely new building.

No matter which types of insurance you get, it's important to secure the right coverage amount. Be sure to discuss your needs with the insurance provider before buying anything!

The Need for Commercial Auto Insurance

Some businesses struggle with deciding whether they need commercial auto insurance or not. For American loggers, this insurance is a real "must-have."

That's because the average logging business is using vehicles (often specialized vehicles) every day. And every moment that an employee is behind the wheel is a moment that you need good insurance coverage!

Commercial auto insurance can offer coverage for when your vehicle collides with other vehicles. But you can also purchase a more comprehensive policy that protects your vehicles from something other than collision (for example, logging accidents).

Commercial auto insurance comes with its own liability protection. So if someone driving one of your vehicles is at fault in an accident, your insurance will pay for any bodily damage they cause. Similarly, it will pay for property damage that the employee causes if they are at fault.

Insurance for loggers is so important because your business involves moving big trees with big equipment. This can lead to very expensive accidents, but with the right insurance, these accidents won't put you out of business.

Special Protection For Your Equipment

Protecting your equipment is important for every business. However, few businesses rely on their equipment as much as loggers.

The majority of logging equipment lost each year is destroyed in fires. The right insurance for sawmills can help you prevent these losses and, worst case, repair or replace anything affected by the fire.

In addition to fires, your equipment is always at risk of damage due to falling objects. Workplace accidents may damage or destroy your equipment, and even inclement weather poses a major risk.

You can protect your equipment with good insurance for loggers. And you can also protect yourself from workers' compensation claims.

Understanding Workers' Compensation

We covered how insurance for loggers is so important to protect you against the claims of others. Given how dangerous logging is, the likeliest source of these claims is going to be your own employees!

All of the threats to your business equipment are also threats to your employees. Fires and accidents involving equipment can hurt or even kill your employees in very short order. Employees are also in perpetual danger of "slip and fall" accidents and being hit by various objects.

Workers' compensation is legally required for businesses in most places and is definitely worth the investment. Otherwise, all it takes is a lawsuit from a single disgruntled employee to completely destroy your business.

The Expertise You Deserve

Choosing commercial insurance is a very important decision. Before you make the decision, it's important to see what others have to say about an insurance provider.

One way to do this is to reach out to the insurance agency you are interested in. You can ask them to provide testimonials from current or previous clients. Doing so will give you a better idea of whether the insurance agency is a good fit for your own business.

A second way to do this is to see what people are saying about the insurance agency online, including across social media. Think of insurance for loggers like anything else: if a carrier has a good reputation, that reputation should precede them.

You're not just getting insurance for yourself. You're also getting coverage for your employees. And it's worth taking some extra time to make sure everyone gets the protection and expertise they deserve.

Finding A "One-Stop-Shop"

There are many differences between personal insurance and commercial insurance. However, they do overlap in one very important way: you're better off finding a provider that can serve as a "one-stop-shop" for your insurance needs.

One reason for this is that it simplifies things and saves you time. Why go through two or three insurance agencies when you could make things easier for yourself and only use one provider?

Another reason for this is that it can save you money. You can save money when you bundle your home insurance and your car insurance through the same carrier.

You can cover multiple personal and business needs with the right insurance agency. You can have your home insurance, car insurance, and business insurance (including commercial auto) through the same agency. This will save you time and money while helping you focus on growing your business.

Get the Insurance Protection You Deserve Today!

Now you know everything you need to know about commercial insurance. But do you know where you can find an insurance provider that understands the needs of American loggers?

Here at Hummel, we offer the kind of insurance you need to protect your business and your employees. To discover the kind of coverage and competitive prices you've been looking for, contact us today!

What if you could protect yourself better in your golden years?

Many of us rely on Medicare for various medical needs as we get older. However, there are certain things that Medicare doesn't cover. You need to pick the right supplemental insurance to prepare for this.

But how can you find the best Medicare supplemental insurance? Who qualifies for these special supplements? Keep reading to discover the answers!

What Is Medicare Supplemental Insurance?

Medicare supplemental insurance is special coverage designed to help you pay for what your Original Medicare didn't cover. Such insurance is one of the best ways you can save money on out-of-pocket expenses.

The exact Medicare supplemental insurance options available are determined by the government. There are 10 different supplement plan options, and it is up to each person to determine which plan is right for themselves and their needs.

Like other forms of insurance, Medicare supplemental insurance requires that you pay a monthly premium. If you are on a budget, it's important to find a plan that will actually save you money over time.

Who Qualifies For Medicare Supplemental Insurance?

You must be 65 years old or older to qualify for Medicare supplemental insurance. Alternatively, you may be under 65 and receiving disability benefits and/or have been diagnosed with amyotrophic lateral sclerosis or end-stage renal disease. Finally, you must be enrolled in Medicare Parts A and B but not enrolled in a Medicare Advantage Plan.

Beyond the basic qualifications, it's important to have existing health insurance before you apply for Medicare. Otherwise, this could cause a delay of up to six months before your supplemental coverage insurance kicks in.

You can enroll in Medicare supplemental insurance at any time so long as you meet the qualifications above. That's important because it means you don't have to wait for a special enrollment period to sign up.

What Is Medigap Insurance?

"Medigap insurance" is just another term for Medicare supplemental insurance. It has this name because the supplemental plans are meant to help you fill in the gaps in your insurance coverage.

It's important to reach out to a good insurance provider who can answer your questions if you ever get confused about different insurance terms. And the world of insurance can often be very confusing to anyone who doesn't work in the industry.

Why Would I Need Supplemental Insurance?

A Medicare supplemental insurance plan can save you money by reducing how much you have to pay in out-of-pocket expenses. And different plans may do things like expanding your coverage beyond America.

When you first start using Medicare, you'll quickly discover that it doesn't cover all of your expenses. And every dollar matters if you are on a fixed income. The right Medicare supplemental insurance can effectively put more money back in your pocket.

And if you think you may need supplemental insurance in the next few years, you may want to go ahead and get it. That's because if you were to develop a health condition in the future, insurance providers would potentially be able to deny you coverage. But once you sign up for the supplemental insurance, you will keep it as long as you pay the premium ( regardless of your overall health).

Do These Plans Differ Across Insurance Providers?

One of the best things about Medicare supplemental insurance is that it is standardized by the federal government. The same 10 plans are available to choose from regardless of which insurance carrier you go through. However, not every plan is available in every state.

When you decide to choose a Medicare supplemental insurance plan, it's important to make sure it is available in your area via your chosen carrier. And part of why it is so important is that most with this supplemental insurance keep it in the long-term.

Remember when we said that your carrier can't deny you coverage later on so long you make your payments? If you switch to a new carrier after developing a health condition, you may be denied coverage. So you have a powerful incentive to find the right insurance carrier and effectively lock down the plan that you need.

Let's review which of the 10 supplemental insurance plans are best for certain applicants.

A Supplement Plan For New Applicants

Are you relatively new to Medicare and looking to find the right supplemental insurance? In that case, Plan G will be your best bet.

Plan G supplemental insurance is designed to cover everything except your Medicare Part B deductible. So once you meet that deductible (which is $233 as of the time of this writing), your insurance kicks in and takes care of the rest.

What's the catch? Simply put, Plan G is usually the most expensive of the supplemental insurance plans because it covers so much. As with any insurance, it's important to weigh the cost of your monthly premium with how much money this particular plan can save you.

Best Supplement Plan For Medicare Veterans

Have you had Medicare before 2020? In that case, you are likely better off going with Plan F supplemental insurance.

Plan F is specifically designed to cover the things that would typically be out-of-pocket expenses. This includes things like your deductible. Most who are on this plan enjoy the fact that they can go to the doctor without getting "nickel and dimed" with many different expenses.

As useful as this plan is, it has two catches. The first is that it can be even more expensive than Plan G and the second is that it isn't available to anyone who got Medicare in 2020 or later. This may be the coverage you are looking for if you're a Medicare veteran sick of paying out-of-pocket expenses.

Best Supplement Plan If You're On A Budget

It can be difficult to find the balance between paying too much on your supplemental insurance and actually saving money. If you're on a relatively strict budget, your best supplemental insurance is likely to be plan K.

Plan K offers a smaller coverage for certain things. For example, it pays 50% on your Part A deductible, skilled nursing, Part B coinsurance, and more. This is in contrast to other supplemental insurance plans that usually offer fuller coverage on select things.

So, the built-in "downside" of Plan K is that it offers lesser coverage than other supplement plans. However, it is much more affordable, making it a good choice for those on a strict budget. But if you know you will need a lot of something Plan K covers 50% on (such as skilled nursing), you may be better off with another plan altogether.

Best Alternative To Plan G

Plan G is great for those who can afford it and those who have had Medicare before 2020. If you don't qualify for Plan G, your best alternative would be to get Plan N supplemental insurance.

Plan N does almost everything that Plan G does with one major exception. Specifically, Plan N does not cover the excess Medicare Part B charges that Plan G covers.

While that lack of coverage can be annoying, Plan N is cheaper than Plan G and (unlike Plan G) available to new applicants. And so long as you verify with your doctor that he will accept the Medicare-approved amount for services, you can reduce how much you end up having to pay.

How To Choose the Best Medicare Supplemental Insurance

These are just a few of the different supplemental insurance plans you can get. But how can anyone choose the best Medicare supplemental insurance for their particular needs?

First, you should consider your budget. If you are on a fixed income or another strict budget, this will play a major role in which plans you can afford.

Second, you should take stock of your current health and current medical needs. Different supplemental insurance plans cover different things, so it's best to find one that helps cover your particular needs.

Third, and finally, you should consider your future health needs. Is there anything in your family history to indicate health troubles you will have in the future? If so, it's best to get the right supplemental insurance plan to cover these issues before they develop.

Get the Insurance You Need Today!

Now you know how to select the best Medicare supplemental insurance. But do you know where you can find an insurance carrier that meets both your needs and your budget?

Here at Hummel, we're here to help you make the most of your golden years. We can walk you through options and help you select the best plan to fit your specific needs and budget. To discover what we can do for you and your family, contact us today!