What is lumber yard insurance?
Running lumber yards requires substantial financial investment, as yards must purchase high amounts of inventory. What’s invested into a lumber yard’s inventory should be protected. Purchasing lumber yard insurance is one way that Massachusetts yards can protect their inventory and their business.
Lumber yard insurance policies offer specialized commercial insurance for lumber yards and similar businesses. Most policies have a combination of property and liability coverages.
What Massachusetts businesses need lumber insurance?
Most Massachusetts lumber yards should have lumber insurance. Any other business that sells boards to contractors or DIY homeowners likely should have insurance as well.
Hardware stores and sawmills might also want this coverage, but whether lumber insurance is right for these businesses depends. These businesses may additionally need protections that normally aren’t found in lumber policies.
An insurance agent who specializes in lumber insurance can help sawmills, hardware stores and other businesses decide whether a lumber or other insurance policy is right for them.
What types of protections do lumber policies make available?
Lumber policies typically come with many different coverages, which allows the policies to give robust and varied protections. Most of the coverages are either property or liability protection.
Property protections normally safeguard against risks that involve loss of or damage to physical property. Some property coverages that lumber yards often get are: