There are multiple coverages that a trucking / transportation business has to have to ensure proper coverage. Business auto to cover the vehicles while they are on the road, workers compensation to cover your employees while they are working, and motor truck cargo to cover the goods of others while you deliver them are probably some of the most obvious ones that you would think of. However, to make sure your business is properly covered in the event of any loss, you must take a look at all lines of coverage to address all risks.
One area of coverage that may be overlooked is warehouse legal liability coverage.
According to The Hartford, “warehouse legal liability insurance is insurance for warehouse storage operations. It helps cover business as a bailee, or in other words, a business entrusted with the property of another, for direct physical loss or damage of property that happens during storage, cross – docking, packaging, labeling, or other services provided by the bailee.”
Essentially, warehouse legal liability is meant to cover the business in case it is named in a suit or claim stating that another organization / person’s goods were damaged while stored in your warehouse or premises.
It is important to know your business operations and determine if your transportation business is operating in this capacity. If you take possession and store the goods of others before shipping them, it may be in the businesses’ best interest to discuss this type of coverage with your agent.
For further information please contact your agent.