Insurance for Pest Control Business
I am starting a pest control company. I will not be hiring anyone, but eventually my husband will be working with me. I have no knowledge of insurance needs. What coverages "must" I have and what coverages will an agent insist I should have, but I don't really need? What is a bond? Do I get it through the insurance company? Are there programs through the state for small businesses? When I apply for business insurance am I obligated to give my social security number in order to get a quote?
Whether you have employees or not, you should have at least a minimum amount of insurance. If you check our section on small business insurance, it should give you some ideas. As well, since you are in the pest control business, I would think you would want to carry a higher amount of liability, in case of problems with the chemicals that you use. You may also want to increase any personal health insurance that you or your husband has in order to ensure that any accidents with chemicals that affect your health will be covered.
A bond is a type of insurance. A bond is an amount of money, put up by a bonding company that guarantees that you are of good character and "trustworthy". The bonding company will do a VERY deep background check on you, to establish that you are worthy of being "bonded."
In your case, you will hire a bonding company to investigate you. Once you are bonded, that bonding company guarantees that if you do steal on client premises, they will pay for your theft amount.
As for programs in your state, you can check with your insurance commissioner.
As far as using your social security number for an insurance quote, I would check with your state's legal guidelines. If it isn't required legally for the quote, I would not provide it. It is one of the most abused pieces of personal identification that we have. Personal identity theft is becoming a bigger issue in many places. Therefore, I never provide it unless I absolutely have to.