Why Do I Need Recycling Business Insurance?
Generally speaking, it can safely be said, that Americans are overwhelmed with the variety and extent of insurance products on the market. While, our natural response is to want to simplify our lives and reduce “clutter,” you’ll soon see why having a specifically-tailored insurance instrument such as recycling business insurance is crucial for those of us involved in the recycling and scrapping business.
Just as you would insure yourself if you were the sole provider for your family, you might similarly decide to insure the fundamental aspects of your business that could, if entered into jeopardy, could have a massively destructive affect on the income your family enjoys on a regular basis.
What are the advantages of a specific recycler’s insurance policy and why might you need one? The answer is simple and has a few aspects to it. Firstly, specialized policies are able to offer a clear coverage statement regarding how the value of scrap metals is handled.
Under a traditional business insurance policy, the specific value of one’s scrap inventory at the time of loss may be terribly inaccurate. For a business, such as the recycling industry, wherein cashflow is such an important factor, insurance companies need to be as accurate as possible when paying out a claim. Otherwise, they will run the serious risk of continuing to lose policy holders to companies which have doubled-down on their investment to offer specialized scrapping policies.
Recycling business insurance is excellent for those who trade in materials such as glass, plastic, electronics, steel, aluminum and automotive. There are specific types of risk in the market for dealers in scrap and recycling material such as the difficulty of managing the cost of theft within the organization and from outside elements. Loss prevention, seen specifically from the perspective of the recycling business is a major component of the types of insurance policies we offer due to the very specialized nature of this industry.
Look carefully at the recycling business you own or operate and consider what the world would look like for you, your staff and your family should something substantial happen to the business that was unplanned for and not addressed by a non-specialized insurance policy. Is a world where you aren’t protected from loss a world that makes you feel comfortable — because, if you are like most people, the need for specialized attention is paramount in running a business. Our recycling business insurance is a product businesses have been trusting for years to offer a direct answer to the business needs they face, as operators in the recycling business vertical.
When you call to inquire further about this policy, be sure to ask about the “conversion endorsement” policy rider which allows the policyholder to remain protected in cases wherein stolen scrap material was unintentionally or unknowingly purchased. Rather than facing the stiff legal penalties that would otherwise result, possibly concluding in a loss of business license, our specialized policy language keeps our insured protected against the types of loss that typically crop up in the recycling industry. Call or submit an online request to find out more about how you can protect your company with recycling business insurance from the industry-specific risk types that are common to the scrapping and recycling industry. We know that you’ll love the protection our policies offer.