Sawmill insurance is designed for businesses that produce lumber and other timber products, such as plywood, veneer, and lumber. The policy covers losses from fires, storms, and other natural disasters that can damage the mill or its equipment.
Applications for sawmill coverage are typically made by the operator of the mill, but sometimes the owner of the land on which the mill is located may also apply.
Image source: Google
The cost of Sawmill insurance varies depending on the coverage options chosen, but a typical policy may include liability, property damage, and business interruption coverage. Liability insurance protects businesses from lawsuits filed by individuals who have been hurt while working at or near the mill.
Property damage covers loss of property caused by a covered event, such as a fire or storm. Business interruption coverage covers lost income due to a covered event, such as a shutdown caused by a storm.
How to choose the best rates for your sawmills?
Sawmill insurance is a must for every sawmill. In this article, we will discuss how to choose the best rates for your sawmills and how to save on your rates.
There are a few factors that you need to consider when choosing your sawmill insurance. The first is the type of mill you have. If you have a commercial woodworking mill, then you need commercial insurance. If you have a small home workshop, then you can likely get homeowner’s insurance.
The second factor is the location of the mill. If your mill is in a high-risk area, then you may want to pay for higher coverage. And lastly, the size of the mill affects rates as well. Larger mills typically have higher premiums than smaller mills.
