Wholesaler and Distributors Business Insurance
As a distributor and wholesale business you play an important role in the supply chain. Without you, transporting products from manufacturers to retailers would become a complicated task.
A disruption in the supply chain directly affects the consumers at the end of the chain. So essentially, your contribution puts food on people’s tables.
To supply to multiple retailers you need to be buy products and finished goods in bulk from manufacturers. This comes with many risks. A fire or an earthquake in the warehouse could damage your products. If natural calamity does not strike, a thief may steal your goods.
Even problems in the supply chain like unpaid deliveries and late shipments can affect your ability to pay timely payroll and bills.
To deal with such problems, ensure your wholesaler’s business insurance is up-to-date.
Can’t find a good insurance agency? Get a quote from SunGate Insurance Agency to enjoy great coverage and protection for your business.
What does Distributors and Wholesaler Insurance Policy Cover?
For overall protection, wholesale business insurance begin with BOP or businessowners policy. It merges multiple coverage like general liability, commercial property and business income into one.
Here is a more detailed view of what the policy covers:
General Liability Insurance
It is also called commercial or business general liability insurance. This insurance protects you when your services, products or employees accidentally cause damage to others. It also covers the loss from damages that happen during regular business operations.
Commercial Property Insurance
It provides coverage for some accidents which damage your commercial property. This depends on what the insurance covers. For example, it could protect you from fire damages or unpredictable weather events, like thunderstorms.
Business Income Insurance
It protects your company when the operations are shutdown or the work is interrupted due to a reason covered in the insurance. This type of insurance usually excludes regular operating expenditure, like utilities.
Equipment Breakdown Insurance
It covers your important equipment and assets. This is an important insurance because it is expensive to replace machines and equipment. You need these assets to run your business and transport the goods on time.
Miscellaneous Insurance
There are many other types of insurance. Commercial auto insurance protects you from the cost of accidents while driving your company vehicle. Crime insurance covers your loss from theft. Worker’s compensation can help you replace lost wages.
In Conclusion
Business insurance for wholesalers and distributors has many benefits. It allows you to run your company smoothly without worrying about the unknown.
A BOP insurance provides an umbrella coverage against different risks. If you don’t want a package deal, go for the insurance you need. At SunGate Insurance Agency, you have the option to choose between both types.
Need help to review your insurance? We can help you find the best prices and insurance that is right for you! Contact Us.
Contact SunGate Insurance Agency today learn more about the type of insurance you need. Click here to contact us or call (407) 878-7979.
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