Insurance for Other Wholesalers
We shop for you! Compare rates from +10 top carriers
What Insurance Do Other Wholesalers Need?
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
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.
Frequently Asked Questions
Why do Wholesalers need insurance?
Businesses in this industry wholesale a wide variety of specialty and common goods. Establishments include, but are not limited to, those that wholesale alcoholic beverages, toys, paint, petroleum, electronics, flowers, chemicals, and stationary.
Wholesalers need insurance because it keeps your business from falling apart when a covered risk happens. Your insurance will pay for the covered costs such as defense and court costs when your business gets sued, or the repair or replacement of damaged property, thereby protecting your business and even your personal assets.
What risks do Wholesalers face?
Wholesalers face a unique set of risks, below are some examples:
-
Your warehouse catches fire and some of your merchandise has been badly damaged.
-
A batch of your products has been found to be defective. The product has already been sold to the public, therefore a costly product recall is required.
-
While transporting your merchandise, the truck gets involved in an accident in which some of your products have been destroyed.
How much does insurance for Wholesalers cost?
The cost of insurance for wholesalers varies as it is usually defined by the size of your business, the number of employees you have, and the coverage needed. If you want to know the cost of your insurance, simply apply online and we'll deliver your free quote in minutes.