What coverages do Warehouse insurance policies come with?
The coverages that warehouse insurance policies have can provide protection against a range of potential incidents. Depending on its terms, a policy might cover damage or loss resulting from:
- Careless handling or storing by employees
- Malfunctions of climate control systems
- Lack of proper facility maintenance
- Fire, smoke and explosion
- Vandalism and theft
An insurance agent specializing in warehouse policies can check what exactly a specific policy would cover.
Should warehouses have commercial auto insurance?
Warehouses usually only need commercial auto insurance if they have vans or trucks that are driven on roads. In these situations, state law generally requires coverage.
Commercial auto normally isn’t needed for forklifts or similar equipment. Such equipment, instead, may be insured with equipment-specific coverage.
A knowledgeable agent will be able to help warehouses find insurance for any vehicles or any equipment that they have.
How does warehouse legal liability coverage differ from general liability coverage?
Both warehouse legal liability and general liability protect against certain situations where a business could face lawsuits. The types of situations that these two cover are different, however:
- Warehouse legal liability typically insures against incidents where the goods stored at a warehouse are damaged or lost. It’s a protection that’s pretty specific to warehouses.
- General liability typically insures against common accidents where a third party is injured or has property damaged, such as slip and fall accidents. This is a much broader protection that businesses in many industries need.
Most warehouses would be wise to carry both warehouse legal liability and general liability. These can often be combined, along with other coverages, in a commercial package policy.