Logging & Wood Products
Coverage for all aspects of logging operations, including: cutting and transporting, building access roads, reforesting, or clearing/thinning land for development, conservation, or fire prevention.
Logging operations have special insurance needs. At United Insurance, we are proud to have several industry leaders on our team: Acadia Insurance Company, Peerless, Marine MGA, and Argonaut.
When it comes to serving the needs of the Maine logging industry, Acadia Insurance Company remains an industry leader. From their innovative Timber Harvesters' Program, which includes the annual Timber Harvesters' Spring Meeting (offering policyholders the opportunity to remain up-to-date with the latest coverage and changes in policy), to “At the Scene” accident kits, Acadia provides policyholders with the highest level of customer service.
MANAGING INSURANCE COSTS
The art of logging may be old, but the industry today relies on sophisticated and expensive technology and equipment. Having an experienced insurance professional on your side can mean the difference between growing your business or seeing it come crashing down around you.
For example: did you know that if your equipment — including fellerbunchers, delimbers, skidders, excavators, and graders — is valued over $150,000, fire suppression systems are required in order for Acadia and Peerless to insure them? Or that workers' compensation rates are less for mechanized loggers who are CLP Certified?
Read on for more tips on how we can help you manage your insurance costs while remaining fully protected.
WORKERS COMPENSATION & GENERAL LIABILITY
Renewal Payrolls - review payrolls before each renewal. They should reflect your best estimate for the coming year.
During the Policy Term: take another look at your estimated payrolls every few months to be sure they're on track. If they aren't, you should request your policies be endorsed to new estimated annual payrolls. Doing so will avoid paying higher premiums during the policy term OR facing a large additional premium at audit.
After you policy is audited, your renewal policy will be endorsed to match the audited payrolls from the prior year to keep payrolls as close to accurate as possible.
PROPERTY & AUTO PHYSICAL DAMAGE
Higher Deductibles - There can be significant savings for taking higher deductibles. Think of a deductible as the part of a loss that you're comfortable paying yourself. Once you know your comfort level, ask your agent to give you a quote using the higher deductible. You can then compare the savings to the added exposure you’re taking on.
INLAND MARINE
Self Insure - Are there pieces of equipment you should self-insure? If you own them outright, or the value is low enough that you could repair or replace them yourself, or if the value is low and it is seldom used, you may consider self-insuring to save on total premium costs.
Equipment Values - Your equipment dealer is your best resource for equipment valuation. Be sure the dealer is giving you the Actual Cash Value (ACV) of the machine. You should add 10% to the ACV of the machine so you will have ample limits for extra expense coverage.
Loaded stream extinguishers installed on your equipment will give you a greater discount on your premium.
For further information, we recommend the following sites:
Professional Logging Contractors of Maine: www.maineloggers.com
American Loggers Council: www.americanloggers.org
Certified Logging Professional: www.clploggers.com
Maine Master Logger Certification Program: www.masterloggercertification.com
Forest Resources Association: www.forestresources.org
