Tag: Business supply insurance

Protecting Your Supply Business with Insurance

Business supply insurance

There are a number of solutions for business supply insurance. Of those available one option you may want to be sure you have is workmans compensation. Having compensation available for your employees can benefit your business in a number of ways.

Workers compensation was designed to do several things. It can provide funding for medical expenses related to an accident, cover wages for an employee who is unable to work due to a job related incident, and help employers find ways to maintain a safe work environment. In many cases a compensation package is offered only when an employee relinquishes their right to sue the company. This means workers compensation can help prevent lawsuits as well.

Many workers compensation packages also provide access to resources the policyholder may find beneficial. This can include risk management assessment programs and safety training. Providing employees with a safe environment at the start, and ensuring they have proper training is another way a company can keep their staff safe.

Including a workman’s compensation package in your business supply insurance can benefit your company and employees. In addition to resources you may have access to such as risk assessment and safety groups, you will also be able to protect your company and care for your employees in the event of an accident.

Proper Coverage to Meet Your Business Supply Insurance Needs

Business supply insurance

If you are a manufacturer, distributor or retailer of business supplies, you have special needs when it comes to your insurance coverage. Yes, you need the standard coverage to protect your buildings and prevent your liability. You also need workers compensation coverage if you meet your states minimum requirements, but what about your inventory? Your fleet? Your drivers? All of these things must be considered when securing your business supply insurance, because all of these things are unique to your industry. Don’t chance your business by ignoring the specialized riders designed just for your operations.

For example, you have inventory and lots of it. You must protect the inventory on your manufacturing lines, in your warehouses and on your store shelves. You must also protect your supplies being delivered, either via post or truck. For the online portion of your business, make certain all of your parcels are protected beyond standard postal insurance once they leave your shipping dock. For the delivery portion of your business, make certain your trucks and drivers are covered adequately against accidents. You don’t want to risk losing your inventory or business to an uncovered loss, so speak with a qualified company that specializes in business supply insurance today to secure the coverage you need.