Wholesale Insurance

The occupation of wholesaling can be a difficult one when it comes to insurance. This is a good reason to research into what insurance policies are best for wholesale businesses.

Does your wholesale business need Insurance?

One of the issues customers often come across is fire cover and businesses not being insured for the full amount of cover for stock and contents. Seasonal increases in stock in high seasons need to be looked at. Things that are great for the business such as growth can make issues down the line from an insurance standpoint. Underinsurance is now and always has been a big issue. Just because you are insured for a certain amount, doesn’t always mean a customer is going to be paid out for that amount by the insurer.

Importing and exporting is also another hot button issue when it comes to wholesale insurance. Clients importing some or all products from overseas are legally considered to be the manufacturer of those products. Yes, that is correct, the legal liability of a product is yours alone to bear. So if your product causes injury to someone or if it causes property damage under Australian law you are considered legally responsible for that item. Issues also arise sometimes from exporting overseas as in some circumstances you can be sued from overseas, especially from places such as the USA, which is why you find a lot of insurance policies excluding the USA & Canada.

What can Wholesale Insurance cover?

Typically customers can get cover for wholesale insurance for things like:

  • Fire insurance for stock and contents
  • Theft cover for stock and contents
  • Public liability insurance and if you do export overseas let us know so we can get it included on your policy.
  • Transit insurance for both domestic and international transportation of your stock
  • Glass cover &;
  • Machinery breakdown, plus many more

If you are looking to find the best insurance for your business, Bluewell offers a free online quote that can help you find the right insurance for your business.