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Putting Waste Management Into Perspective
Waste Management Insurance Makes A Big Difference
The waste management industry is mostly made up of small and medium sized businesses. In fact, these account for 99 percent of the industry. However, the large firms that make up the remaining one percent are responsible for nearly half of all industry revenue. About 114,000 firms provide employment for approximately 1.6 million employees in the United States. The waste management services industry is a rapidly growing industry, ripe with opportunities.
Opportunities For Small Business Owners
Of all revenue generated, roughly 54 percent is derived from services rendered, 21 percent from equipment used in the trade, and 25 percent from resources needed within this industry. Successful waste management business owners make the best of these opportunities by both rendering services and through sales of equipment and resources. Nevertheless, the waste management appears to be lucrative regardless of the size of your firm.
Substantial and growing investment into research and innovation means small businesses must stay informed in order to stay competitive. The move is towards eco-friendly use of materials, which makes the industry dynamic and challenging. Recycling is also encouraged as it contributes largely to economic growth as well as the move towards Green status.
The American Water Works Association reports that there are currently in excess of 2,900 water utility plants throughout the United States. Combined, these utilities supply over 80 percent of all drinking water and treat nearly half of all wastewater for the country. Whether your business is focused on recycling or utility services, waste management liability is a must for your business.
Prepare For The Worst, Even If You Never Need It
Smaller waste management businesses often ignore insurance, viewing it as an unnecessary expense. This decision reduces the chances of survival of any small business by 20 percent. Even with the best safety measures, your waste management business could face liability claims for injury, theft, or property damage. You’ll be surprised at the low rates you will pay for comprehensive waste management insurance coverage, if you work with an experienced insurance company like Small Business Liability. Find out how we can help to protect your business now and in the future.
What Insurance Coverage Do You Need?
Equipment Breakdown Coverage
the damaged items covered.
Commercial Auto Coverage:
Business Owners Policy
General Liability Insurance
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