Warehousing insurance is a prudent investment. It protects your inventory and helps manage risk.
If you’re going to use public warehousing, what should you know about insurance?
What Is Warehousing Insurance?
Warehousing insurance is a form of coverage that protects goods while they are stored at a third-party facility. It can cover everything from fire and theft to accidental damage, depending on the policy. However, not all warehousing agreements include full coverage, and not all goods are automatically protected.
Many public warehouses carry warehouse legal liability insurance, which protects the facility if they are proven negligent. However, that doesn’t necessarily mean your goods are fully covered for all types of loss. As such, it’s vital you know your plan.
Understanding Your Risk and Responsibility
We always advise our clients to review their contracts carefully and understand where their insurance responsibilities lie. Ask questions like: Is the warehouse insuring my goods? To what extent? Should I carry my own property insurance? Getting clarity upfront can save you major headaches later.
Protecting Your Business
Affiliated Warehouses partners with public warehouses, and at no cost or obligation to you, will provide you with all the pertinent information you need, including warehousing insurance information. We walk you through the legalities, explain the liabilities, and help you find a facility that meets both your logistical and risk management needs.
If you’re unsure about how insurance works in the public warehousing world, or if you’re exploring storage options for the first time, contact us. We’ve worked in the warehousing industry for over 70 years!
