Commercial Property insurance protects your business from the perils of theft, fire, earthquake and natural disasters. This insurance covers the damage to the building and its contents due to a covered loss. The property and all its contents will be repaired or replaced by the policy, up to its covered limits.
Product Liability insurance protects your equipment wholesaler business against the claims of property damage or personal injury caused by the products you sold or supplied. This insurance protects your business when it happens so that the insurance will pay for the legal and court costs up to its limits.
Inland Marine insurance will cover the property in transit over land. It can also cover movable property like the equipment you used to transfer your merchandise, instrumentalities of communication and more.
General Liability insurance protects your equipment wholesaler business against third-party claims of personal injury, bodily injury, property damage and other related risks that can arise from your business operations. General Liability insurance will help pay for the expenses including attorney fees, court fees, and settlements.
Establishments in this industry are involved in the wholesale of all types of equipment. This includes commercial equipment, such as air-conditioners, refrigeration, cookware, farming and gardening equipment, or industrial equipment such as metalworking machinery, drilling rigs, logging equipment, and mining equipment. Computer, medical, HVAC, transportation and other forms of equipment wholesalers exist in this industry.
Equipment wholesalers are responsible for the quality of the products sold to customers. Despite stringent quality checks, malfunctioning equipment can slip by and into your customers' hands. If that happens it can cause your clients' financial harm and your business will be liable. This is where insurance helps. Instead of paying for the legal expenses, court fees and settlements out of your assets, insurance will cover those costs. All it takes is just a monthly fee to get started!
Wholesalers purchase equipment in bulk and resell to retailers for a profit. Your business, as a wholesaler, takes on many risks. It is important to protect your business from the common risks, and unknown risks, you face:
These are just some of the many risks your equipment wholesaler business can face.
The cost of insurance for equipment wholesalers varies from business to business. This is because insurance carriers often have several criteria to look for before they can give you a quote. The criteria that have a huge impact on the cost are your profit margin, the number of employees you have and the coverage you need.
To find out the amount of your insurance quote, take our a quick online assessment or give us a call.
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