Insurance for Furniture Wholesalers

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What Furniture Wholesalers Are All About:

These establishments are involved in the wholesale distribution of furniture, such as mattresses and outdoor, public building, office, and religious furniture. It is important to note that this industry does not sell hospital or medical furniture.

What type of insurance does this industry need?

Policy What is it? Why get it Popularity in your industry Want free quotes?
General Liability
This policy protects your business claims of bodily injury, property damage or advertising and personal injury (aka reputational damage). For example, the oh-so-common "slip and fall" claim would be handled under your General Liability policy. More likely than not, you have a contract, like a loan or a lease or mortgage, requiring you have General Liablity insurance. Even if you don't, this is the absolute best measure you can take to make sure you're covered in case of a law suit against your business.

What is it: This policy protects your business claims of bodily injury, property damage or advertising and personal injury (aka reputational damage). For example, the oh-so-common "slip and fall" claim would be handled under your General Liability policy.

Why get it: More likely than not, you have a contract, like a loan or a lease or mortgage, requiring you have General Liablity insurance. Even if you don't, this is the absolute best measure you can take to make sure you're covered in case of a law suit against your business.

Commercial Property
This policy protects the business' assets, and is appropriate whether you own or lease your space or work from home. It can be customized in two ways: (1) insure more/less property and (2) insure against more/fewer causes of damage (e.g., earthquakes) If you have a mortgage or a lease, you are likely required to have property insurance. Even if you are not, this is the best way to protect the building you are in and the business property you have in case of a natural disaster or some other accident. And if the business is at fault for property damange? It helps pay those claims too.

What is it: This policy protects the business' assets, and is appropriate whether you own or lease your space or work from home. It can be customized in two ways: (1) insure more/less property and (2) insure against more/fewer causes of damage (e.g., earthquakes)

Why get it: If you have a mortgage or a lease, you are likely required to have property insurance. Even if you are not, this is the best way to protect the building you are in and the business property you have in case of a natural disaster or some other accident. And if the business is at fault for property damange? It helps pay those claims too.

Business Owners Policy (BOP)
Also, known as BOP, this is a type of policy that packages together elements from General Liability and Commercial Property. It may also include elements of crime and EPLI, depending on the carrier. Depending on the eligbility requirements (which vary by carrier). this is a great way for a small or mid-size business to get many of the protections it needs (also listed here) in one policy. It's the simplest way to get most if not all the essential coverage you need for your business.

What is it: Also, known as BOP, this is a type of policy that packages together elements from General Liability and Commercial Property. It may also include elements of crime and EPLI, depending on the carrier. Depending on the eligbility requirements (which vary by carrier). this is a great way for a small or mid-size business to get many of the protections it needs (also listed here) in one policy.

Why get it: It's the simplest way to get most if not all the essential coverage you need for your business.

Commercial Auto
Commercial auto insurance, like your personal auto policy, provides similar coverages such as liability, collision, comprehensive, medical payments and uninsured motorist coverage. This is the law. Any vehicle and driver out on the road must be insured. Keep in mind that any claims that happen while the car is being used for business purposes will not be paid by a personal auto policy. That's why it is so important to make sure you have commercial auto insurance.

What is it: Commercial auto insurance, like your personal auto policy, provides similar coverages such as liability, collision, comprehensive, medical payments and uninsured motorist coverage.

Why get it: This is the law. Any vehicle and driver out on the road must be insured. Keep in mind that any claims that happen while the car is being used for business purposes will not be paid by a personal auto policy. That's why it is so important to make sure you have commercial auto insurance.

Business Interruption
Business interruption insurance compensates you for lost income if your company has to vacate its location due to disaster-related damage covered in your property insurance policy, such as a fire. The policy also covers operating expenses, like electricity, that continue even though business activities have come to a temporary halt. For many businesses, a temporary shut down can mean significant income loss that may lead to a permanent shut down. Business income protection is vital for this reason.

What is it: Business interruption insurance compensates you for lost income if your company has to vacate its location due to disaster-related damage covered in your property insurance policy, such as a fire. The policy also covers operating expenses, like electricity, that continue even though business activities have come to a temporary halt.

Why get it: For many businesses, a temporary shut down can mean significant income loss that may lead to a permanent shut down. Business income protection is vital for this reason.

Workers Compensation
Workers compensation coverage covers lost wages and medical treatment resulting from an employee’s work-related injury or illness. It also covers services needed to help an employee recover and return to work. This is the law in all 50 states. As soon as you have your first non-owner employee, it's time to get Workers Comp insurance. Not having this insurance can lead to hefty fines, and of course, it means the business has to pay for any workplace injury claims.

What is it: Workers compensation coverage covers lost wages and medical treatment resulting from an employee’s work-related injury or illness. It also covers services needed to help an employee recover and return to work.

Why get it: This is the law in all 50 states. As soon as you have your first non-owner employee, it's time to get Workers Comp insurance. Not having this insurance can lead to hefty fines, and of course, it means the business has to pay for any workplace injury claims.

Are you ready to get down to business?

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