Insurance for Furniture Wholesalers
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What Insurance Do Furniture Wholesalers Need?
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.
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.
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
Frequently Asked Questions
Why do Furniture Wholesalers need insurance?
These establishments are involved in the wholesale distribution of items 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.
Furniture wholesalers take a great risk because of the number of products you send out to your clients each day. This means that you need to protect your business from the risks and impending perils.
Your insurance will cover your business from the risks whether known or unknown by paying for the covered risks, thus protecting your business and personal assets.
What risks do Furniture Wholesalers face?
As a furniture wholesaler, the risks your business faces mainly come from the furniture you distribute to your clients. When furniture breaks easily or is not what the client requires and it causes them a financial loss then your business will be held liable. Some other potential risks include:
- Your warehouse could catch fire which makes most of your goods useless.
- Your employee could get injured from hauling the furniture to the truck.
- These are some of the many risks your business can face.
How much does insurance for Furniture Wholesalers cost?
The cost of insurance for furniture wholesalers depends on several criteria, but what impacts the cost the most is the size of your business, the number of employees you have and the coverage required. To find out the cost of your insurance simply contact our customer service representatives or apply for a free quote online.