The Importance of Insurance for Wholesalers

As a wholesaler of machinery, you likely have thousands — if not millions — of dollars’ worth of inventory on your property at any given time. No matter how protected your property is, natural disasters, theft and other costly situations can arise. Machine wholesalers insurance is important for many reasons.

It Protects Your Property

You need safe buildings to store your inventory, but natural disasters can wreak havoc on the structure of a building. Insurance for wholesalers provides you with coverage in case your building falls victim to flooding, fire, earthquakes or tornadoes. It may also cover situations such as a vehicle crashing into part of the building. If your warehouse operates as a storefront, you may also add liability coverage to this part of your plan.

It Protects Your Inventory

Of course, your inventory is what helps your company earn profits. Protect it with a high-quality policy. A good policy may cover any merchandise stolen by a non-employee while in transit, covers damages if a piece of machinery malfunctions after purchase and protects it in the event of a natural disaster. Depending on the type of machinery you provide, you might also consider extra coverage during any peak seasons.

Don’t forget about your own equipment when purchasing machine wholesalers insurance. Without your computers, it will be much harder to track inventory and sales.