Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
Product Liability insurance covers your business if you need to recall one of your products. It covers your costs for retrieving the defective product from the manufacturer or seller to prevent any further bodily injury or property damage.
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Covers your products, materials and equipment that are transported over land (truck or train), or while they're in a warehouse. If involved in a collision, mishandling or cargo theft, Inland Marine Insurance covers the transported goods.
Why does an Apparel Wholesaler need insurance?
These establishments are involved in the wholesale of all types of clothing. This includes all forms of footwear, men’s and women’s clothing, children’s clothing, infant clothing and various forms of accessories.
Your insurance will help cover the cost of property damage and liability claims. Without an insurance, you would have to pay the damages and claims from your business finances.
What risks do Apparel Wholesalers face?
When you start a business, you face a lot of risks. These risks can potentially lower the profits you can earn if proper risk management is in place. By buying apparel in bulk, you face the risk of large amounts of inventory being destroyed as a result of a drastic incident such as a fire or flood. Destroyed inventory is a huge setback to your business productivity and finances. Employees could become sick or injured on the job, filing claims against your business for employer negligence. There is the possible risk of charges and claims arising against you if the apparel sold to your client causes them a financial loss due to your mistake. These are just some of the many risks that your business can face.
How much does insurance cost for Apparel Wholesalers?
The cost of insurance for apparel wholesalers varies on the type of services you offer and the number of insurance policies you need to carry. To give you an overview, here's a sample computation:
Contact our customer service representatives to give you a quote for the insurance cost of your business.