If you are a wholesaler and your business sells goods to other businesses, for onward distribution, you need the right wholesaler insurance to protect your assets.
Things To Consider When Arranging Wholesaler Insurance
It can be complicated to decide exactly what business insurance you need. There are lots of things to consider:
- If you have employees you have a legal obligation to take out employers liability insurance, in case they are injured whilst at work.
- You might have a warehouse or work from an office as a wholesale agent.
- You might have computers that you rely on to run your business.
- You might need insurance for forklift trucks.
- You might import goods from the EU, China or the Far East. You must tell your insurer about this to ensure you have the right products liability cover.
- You might export goods abroad possibly to the USA or Canada. If you do export goods to the US, it is very important that you tell your insurer, otherwise you will not be covered under the products liability section of your policy if someone from the States decides to make a claim against you.
These are the sorts of things that will affect how your insurance is arranged.
Some insurance companies offer a general Commercial Combined insurance policy for wholesaler insurance. Others offer a Property insurance policy and a Combined Liability insurance policy.
It is important to make sure that you have the cover you need at a competitive premium.
Get Expert Help With Your Wholesaler Insurance
The best way to do this is to speak to a local independent business insurance broker who understands wholesale business and the issues you need to deal with and can advise you as to the types of cover you need. They’ll usually compare several quotes from different insurers for you and help you decide which is the best option.
Here at Breathe we have many years of experience in arranging wholesaler insurance. We offer a personal service and like to work closely with our wholesale business clients. We want you to be confident that the insurance you have is totally relevant to your wholesale business and priced competitively.