For wholesalers and distributors, work is far from easy. There is a lot that needs to go into account, such as protecting the property, inventory, employees, and vehicles. Managing this ever-growing risk and the constant changes in the industry is complex. When something in the supply chain goes wrong, it creates more burdens and increases the impact on paying bills and payroll.

Now, with the ever-changing world in supply chains, it’s important to run as smoothly as possible and be insured. Distribution businesses are constantly facing a lot of unique risks, whether it be natural disasters, thieves, or complete accidents, and no matter what happens, your business needs protection from it all.

Since anything can happen, you’ll want to make sure you have updated wholesalers and distributors business insurance coverage to protect yourself and your business against such losses.

NorthEast Insurance Services understands how important it is for businesses to have wholesalers and distributor insurance. We know that each business is going to have its own unique needs and unique exposures they go through every day. If you’re unsure whether you need wholesale and distributor insurance, continue reading on about all the benefits and what it can do for your business.

What Is Wholesalers and Distributors Insurance?

Wholesalers and Distributors Insurance is a type of insurance that is geared to protect employees from the constant risks that they’re facing in their supply chain role. Financial loss can happen anywhere and any time, whether it be because of natural disasters, fires, theft, or other threats that might create a financial loss due to damage.

We know that every business has unique risks that other businesses may not have, so coverage is customized to meet your needs for your business.

Why Should You Get Wholesalers and Distributors Insurance?

Supply chain businesses face a lot of risks daily, and each of these minor risks can affect one another, which can cause great financial loss for the business. This kind of business insurance is the only way that the company can ensure it has protection against property damage, theft, and other losses that can come along with this type of work.

They will also be able to avoid any fines or penalties that are associated with not having the coverage for these types of risks.

Who Benefits From Wholesalers and Distributors Insurance?

There are plenty of businesses that could strongly benefit from Wholesalers and Distributors Insurance. All wholesale and distribution businesses can benefit from the protection that Wholesalers and Distributors Insurance provides. Directors, officers, and management personnel are also protected against losses that can arise out of day-to-day operations.

What Does Wholesale and Distribution Insurance Cover?

You should first understand that there is a variety of different coverage available, as there’s no need to pay for parts of coverage that your business doesn’t need. Wholesaler and distributor insurance will start with the business owner’s policy. We offer multiple packages, but you can expect that some of the following can be covered:

• Product Liability Insurance protects your business from manufacturing flaws such as design defects that might cause harm to the operators
• Cargo Insurance protects the business from losses that stem from lost or damaged cargo
• Cyber Liability Insurance for protection from cyber breaches and other cyber attacks has become more common for businesses of all sizes
• Commercial Auto Insurance is best for transport vehicles such as trucks and forklifts
• Commercial General Liability Insurance is a type of insurance that covers the business in an event that injuries occur on the business property
• Property Insurance protects the business and contents, such as inventory, from peril, whether from natural disasters or fires
• Accounts Receivable Insurance protects businesses from political unrest that could lead to bankruptcy
• Crime and Fidelity Insurance protect companies from theft and fraud

There are a variety of types of insurance that can be available for you and your business, and NorthEast Insurance Services wants to help protect your New Jersey-based company. Don’t assume that your current coverage will have your business protected against anything thrown at you. It’s always better to be safe than sorry. Act now and reach out to us. We’ll do whatever we can to protect the livelihood of your business.

How Much Does Wholesale and Distribution Insurance Cost?

Since every business is different, the pricing will depend on multiple aspects. It’s important to understand that insurance isn’t one-size-fits-all. Some factors that will affect your insurance cost include:

• Where your business is located
• The value of the building the business is in (and age of the building)
• Physical features of the building/ warehouse
• Annual sales
• The type of products sold
• Where the products are being sold
• Who and where your products are being manufactured by
• How much inventory does the business have in its building

These are only a few factors that can affect the cost of coverage for a company. But there are plenty of other factors that could be considered as well.

Request a Quote Today

It’s best to speak to one of our helpful representatives from NorthEast Insurance Services to determine what coverage is right for you. Contact us and we’ll be more than happy to help you out and answer all your questions.