Wholesalers and Distributors Insurance
At FarmerBrown.Com we offer a wide range of coverages that are afford-ably priced. We will expertly tailor these policies for your business requirements. Wholesaling or Distributing is a cut throat business. Get coverage specifically designed for today’s complex business world. We offer the most choices in Wholesalers Insurance and Distributors Insurance.
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Our Wholesalers Insurance and Distributors insurance programs include detailed risk assessment and loss control expertise that can help reduce insurance costs. We offer policies for everyone from the small supplier to the large distributor.
What Type Of Insurance Do Wholesalers And Distributors Need?
Below are some of the most common types of Wholesalers Insurance and Distributors Insurance policies for wholesaling and distributing businesses. These coverages are extremely important because they ensure that your business will be able to survive most claims.
It also protects your business from lawsuits. They offer coverage if you are found liable for any claims. It also covers the legal fees if you are sued. The attorney fees that may be charged if you are not insured maybe enough to put out of business most smaller companies.
Package policies are the most convenient and cost effective way to combine a number of coverages in one Wholesalers Insurance and Distributors Insurance policy.
Business Owners Policy (BOP) or Commercial Package Policy (CPP):
BOP and CCP policies are ways for smaller businesses to bundle different types of insurance under one policy. The main reasons for doing this are convenience and lower costs.
CCP policies are more flexible and can can be tailored for individual businesses. BOP sometimes include coverages that a business my not want, such as loss of business income. With CCP policies they only include coverages you want.
PRO TIP: Neither of these packages include Workers’ Compensation Insurance. Workers’ Compensation Insurance is required by law if you have employees. It must be purchased as a separate policy.
Commercial General Liability Coverage:
Wholesalers And Distributors will in most cases need some type of Commercial Property Insurance, the major types are:
- Inventory. For most Wholesalers and Distributors, inventory is most valuable property you own. You must obtain Wholesalers Insurance or Distributors Insurance. PRO TIP: Many wholesale operations are seasonal and have periods when these values increase dramatically. The value should be the peak season value to prevent not having enough coverage.
- Building. If you own your space you need to have coverage for the property.
- Business Personal Property. You will need this coverage whether you own the real estate or just rent. This covers items that you use to run the business such as computers, office furniture and other property you use to run your business.
- Improvements and Betterments. This type of insurance is for your benefit if you are renting space. It covers improvements made by you to property that you lease.
COMMERCIAL LIABILITY COVERAGES
Wholesalers And Distributors Liability Insurance commercial liability is needed to cover the premises and products liability loss exposures. The premises liability coverage is usually limited as in most situations as there are not customers at your location. If your operation imports products directly you are treated more like a manufacturer with respect to any product related losses or damage.
COMMERCIAL AUTO COVERAGES
The commercial auto exposure can be significant, depending on the extent of delivery of goods to customers. If the wholesaler has no delivery operations, the exposure may not be greater than the salespeople’s vehicles
WORKERS COMPENSATION COVERAGES
Just like any other business Wholesalers and Distributors need workers compensation if they have employees. You are required by law to provide coverage for on-the-job injuries sustained by your employees through a workers compensation policy. If the wholesale or distribution workers load and unload ships or other vessels, Longshore and Harbor Workers’ Compensation Act coverage is also required.
EXCESS AND UMBRELLA COVERAGES
The increased limits of wholesalers and distributors insurance needed are based on the types of products handled and distributed. Certain contractual obligations of the wholesaler with its suppliers and customers may require this additional coverage. Higher limits are particularly important if the insured directly imports any products or does any repackaging.
INLAND MARINE COVERAGES
Do not let the name fool you. Inland marine covers goods in transit is the most important inland marine coverage for most wholesalers. You transport and deliver most of the goods you sell. There are special inland marine coverage forms have been created for specific Wholesalers and Distributors.
Losses due to employee theft are almost the greatest crime coverage concern. However, computer and financial fraud may also be major loss and coverage concerns because most invoices and billings are handled electronically.
What Does Wholesalers Insurance and Distributors Insurance Insurance Cover?
Wholesalers Insurance and Distributors Insurance need the same coverage as any other business. There are some specific coverage options you may wish to explore.
Since your Inventory is a major assets you need to make sure you have enough coverage. Remember you should base coverage on the highest value if your business is seasonal.
You will need Commercial Auto Insurance to cover your delivery vehicles and salespeople’s autos.
Inland Marine Wholesalers Insurance and Distributors Insurance to cover the value of your goods while being transported.
Products Liability Wholesalers Insurance and Distributors Insurance is especially important if you directly import products or repackage them for resale.
To protect your business from employee theft or other losses resulting from unauthorized electronic transactions, you should consider Crime Coverage Wholesalers Insurance and Distributors Insurance.
If you have employees Workers Compensation Insurance is required by law. Additional coverage is also required if they are unloading items from ships and certain other modes of transportation.
How Much Is Wholesalers Insurance and Distributors Insurance Cost?
The cost of will vary depending on many factors that go into determining the rate. There is noway to even give a ball park quote. The most important factors in determining a rate are as follows:
- The value of your inventory and type of inventory. Inventory that is perishable or more easily damaged is costlier.
- Employees. The more employees you have the higher the cost of Workers Compensation Wholesalers Insurance and Distributors Insurance. It is should be noted that office staff and salespersons are much cheaper to cover than your warehouse employees. Certain other situations may require additional and more specialized coverage.
- Products liability. If you you directly import or repackage items you can be treated as a manufacturer. As a result the cost of coverage can sky rocket.
- Property coverage for Wholesalers Insurance and Distributors Insurance. The amount of this coverage will vary based on the size of your buildings and whether you own or rent.
Why Choose FarmerBrown.com?
FarmerBrown.Com has the capability to provide quotes for the hard to place risks and get you insured quickly and conveniently. We have the experience to analyze and recommend the appropriate Wholesalers Insurance and Distributors Insurance. All types of business have one thing in common…they all need protection. Protect your valuable physical assets with quality insurance coverage.
By selecting the best policies from the nations top insurance carriers FarmerBrown.Com is able to deliver coverage that represents the greatest value for you. You can obtain a Wholesalers Insurance and Distributors Insurance quote by clicking above, or by calling (888) 973-0016 today to find out more about the extensive insurance programs offered by FarmerBrown.Com to reduce premium cost and risk. Let the FarmerBrown.Com team make obtaining insurance coverage trouble-free. Get the coverage you need at the rates you deserve.
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