When you run a warehouse, you know that you are responsible for a large portion of the supply chain. You may offer services such as shipping and inventory solutions in addition to warehousing to expand your client base and profits. So how does warehouse legal liability insurance fit into the picture?
This type of insurance is one what pays the client if the negligence of a warehouse results in the damage or loss of the customer’s property. It is a unique type of insurance which can save both parties the time and expense of a court case if something were to happen. Sitting down with a broker can help you identify any gaps you have in legal liability insurance as well as help you design a plan which fills those gaps. Sometimes, going over your business practices to find these gaps can also show you where you need to improve those practices and reduce your need.
Warehouse legal liability insurance might be one of those things that you are thinking about leaving out of your coverage to save money on premiums. But, not having it can leave you responsible for any damage done to the property of your customers through negligence. Having the insurance coverage can save you money out-of-pocket in these cases and even save you a lengthy and expensive court case.