Insurance for Apparel Wholesalers

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.

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.

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:

• General Liability insurance costs around $500 in annual premiums.
• Commercial Auto insurance costs about $400 in annual premiums.
• Business Owners Policy (BOP) costs around $900 annually.

Contact our customer service representatives to give you a quote for the insurance cost of your business.