Wholesalers and Distributors have unique insurance needs. Whether you distribute or wholesale beverages or foods, automobile parts and supplies, office equipment, furniture, stationary and office supplies, lumber and hardware, heavy equipment and construction equipment, electrical equipment, books, flowers, apparel, scrap and waste materials, plumbing and HVAC products, or many other products having the right insurance is critical to your ongoing success.
Providing such services means that your products must get from your suppliers to your customers smoothly so having the proper insurance to make sure this occurs is key. Property insurance is necessary not only for your business property, equipment, and stock, but also for items that haven’t made it to your warehouse or are being transported to customers. Ocean Marine insurance covers your products as they are being shipped to you from your supplier’s port to local ports.
Most contract carriers limit their own liability for any loss or damage to your goods on their way to a local port. Moreover, once these products make it to Hawaii coverage is needed for these products while they are in route to your warehouse or to your customers. This coverage is known as inland marine insurance. Knowing that if a shipment is lost or damaged that you will be covered allows you to maintain your reputation as well as your bottom line.
Many other policies are necessary as well such as general liability, property, worker’s compensation, health insurance, temporary disability, automobile, temporary disability, directors and officers, and possibly more depending on your operation. However, the importance of a good policy that covers property in transit shouldn’t be overlooked.