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From timber plantations to sawmills, and wildfires to machinery breakdowns, the forestry industry faces a diverse and complex set of risks that require a specialized form of protection. That’s where forestry insurance comes in.
Since 1994, HCP National has specialized in placing all of the insurance products that forestry, logging, and wood products companies require.
From workers’ compensation to general liability to reinsurance, we can help your forestry business create a customized, comprehensive, and affordable risk management plan.
Plus, with HCP National as your broker, your business supports DE&I. HCP National is a certified minority-woman-owned insurance agency.
Forestry insurance is designed to cover the unique risks and challenges inherent to the forestry industry. It can provide financial protection and peace of mind, should an unexpected incident occur.
Forestry insurance can cover a plantation’s crops against threats such as:
Should an incident occur, forestry insurance can cover the costs of:
Beyond the plantations themselves, there are many other risks to consider, such as:
No two forestry organizations have the same set of risks, so there isn’t a one-size-fits-all forestry insurance policy.
Your forestry business requires a customized set of insurance products and limits that cover your unique risks and make up a comprehensive forestry insurance package.
Wondering what types of insurance your forestry business should have? Key coverages to consider may include:
Timber insurance coverage can protect your standing timber against potential financial losses caused by fire, windstorm, lightning, and other natural disasters, theft, and vandalism.
Machinery and Equipment Insurance can protect the forestry machinery and equipment necessary for your operations – including sawmills and logging equipment – against breakdowns, theft, and other forms of damage.
General Liability Insurance can protect your forestry business from third-party property damage or bodily injury claims. The inherent unpredictability of nature makes this coverage an absolute necessity.
Commercial property insurance can protect forestry businesses’ physical assets – such as facilities, inventory, and equipment – from damage due to incidents such as vandalism, theft, storms, floods, explosions, and more.
If a covered business interruption occurs, this coverage can compensate for the income your business would have earned during the downtime.
Working in the forestry and logging industries is high risk. Workers’ Compensation Insurance can provide medical and rehabilitation benefits to your employees if they get injured or become ill as a result of their work. This coverage can also protect your business financially from workers’ compensation lawsuits.
This coverage protects your business against claims of professional negligence or malpractice. It also covers the costs associated with defending a lawsuit, including legal fees and court costs.
Commercial vehicles such as service trucks, private passenger vehicles, or road tractors can be covered.
Reinsurance, or excess coverage, provides excess protection against catastrophic events, such as wildfires or tornadoes. By purchasing reinsurance, you can increase your financial protection if the unexpected happens and regular insurance won’t cover the full extent of the loss.
An inland marine policy usually covers equipment damage due to fire, theft, vandalism, and other hazards. It can cover equipment that’s in transit or storage on land, outside of your primary business location; this is important because many traditional property insurance policies only cover assets located on specific premises.
HCP National can help you create the right forestry and wood products industry insurance coverage package for your organization, at an affordable price.
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We are HCP National. For almost 30 years, we have specialized in each of the insurance products that logging, forestry, and wood products organization require.
Our expert brokers have an average 12-year tenure with us, and some clients have been clients for 20+ years. We’re also proud to be one of the few minority-woman-owned insurance agencies in the country.
From workers’ compensation to general liability, and reinsurance to inland marine insurance, HCP National can help your forestry business manage risk with a fully customized, comprehensive, and affordable insurance package.
NOTE: THE ABOVE IS A GENERAL DISCUSSION ABOUT HOW FORESTRY INSURANCE COVERAGE MAY WORK. YOUR INSURANCE POLICY, AND ALL ADDENDA, ARE THE ONLY AUTHORITY OF HOW YOUR COVERAGE WORKS. DO NOT RELY ON THIS PAGE AS AN EXPLANATION OF YOUR COVERAGE. HAVE YOUR ATTORNEY REVIEW YOUR ENTIRE POLICY WITH YOU TO DETERMINE WHAT IS AND ISN’T COVERED.
