Plate Glass Wholesaler Distributor Insurance Policy Information
Plate Glass Wholesaler Distributor Insurance. Distributors and wholesalers of plate glass products face a variety of risks. Many of these risks are similar to the risks that any other business faces: commercial property damage; employee injuries and illnesses; third-party personal injury and property damage claims, etc.
However, there are also a number of risks that are unique to plate glass distributors: product liability and business interruption, for example.
Plate glass wholesalers receive various sizes, shapes, and thicknesses of plate glass from foreign or domestic manufacturers, usually by truck, for distribution to retailers, commercial builders, and other commercial establishments. The glass may be insulated, laminated, reflective, tinted, or have safety glazing.
The wholesaler may cut glass to size, but does not do any installation. The distribution center may be open 24 hours a day. Generally, the products are delivered to the customer on the distributor's vehicles.
While you hope that you'll never experience any problems, you never know when a mishap is going to occur. A vendor could slip on a patch of ice on your delivery bay; a client's order could arrive completely damaged because it wasn't packaged properly; faulty wire could spark a fire in your warehouse.
Protect yourself from the unexpected and invest in the right type of plate glass wholesaler distributor insurance coverage.
Plate glass wholesaler distributor insurance protects your business from lawsuits with rates as low as $47/mo. Get a fast quote and your certificate of insurance now.
Below are some answers to commonly asked plate glass wholesaler & distributor insurance questions:
- How Much Does Plate Glass Wholesaler Distributor Insurance Cost?
- Why Do Plate Glass Wholesalers And Distributors Need Insurance?
- What Type Of Insurance Do Plate Glass Wholesalers And Distributors Need?
How Much Does Plate Glass Wholesaler Distributor Insurance Cost?
The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small plate glass wholesaler distributor businesses ranges from $47 to $79 per month based on location, size, revenue, claims history and more.
Why Do Plate Glass Wholesalers And Distributors Need Insurance?
Insurance protects plate glass distributors and wholesalers from the financial losses that may be associated with the risks that they face. When a problem arises, instead of having to pay the expenses yourself, your plate glass wholesaler and distributor insurance would kick in and pay for any covered expense for you.
Without insurance, when a problem arises, you end up suffering serious financial problems. If you're properly insured, however, any of the liabilities that you're responsible for will be covered, saving you from serious financial devastation.
What Type Of Insurance Do Plate Glass Wholesalers And Distributors Need?
The specific type of plate glass wholesaler and distributor insurance coverage your company needs will depend on a variety of factors; however, there are a few key policies that every business in this industry will need to carry, including:
- Worker' Compensation: As an employer, you're responsible for providing your employees with a safe workplace. If they sustain an injury or develop an illness while they're working, you'll have to pay for any medical care that's needed; you'll also have to replace any wages that may be lost. Workers' comp insurance ensure that you'll be able to cover these expenses.
- Commercial General Liability: If third-party sustains an injury on your commercial property or an employee damages a third-party's property, you'll be responsible for any associated medical bills or repair bills. You may also have to pay for legal fees and damages that a court finds you are liable for. Commercial general liability insurance covers these types of expenses.
- Commercial Property: If a fire breaks out in your warehouse, a pipe bursts in your store, or if someone breaks into a steals any of your inventory, commercial property insurance will help to pay for any necessary repairs. It will also assist with the replacement of any stolen or items that cannot be salvaged.
- Commercial Auto: If a delivery truck or a vehicle that you use to make sales calls is involved in an accident (think of shattered glass), commercial auto insurance will cover the cost of any damages and medical care for injuries that may occur.
These are just some of the types of plate glass wholesaler distributor insurance coverage you should carry. You can carry individual policies, or opt for a commercial package policy that combines several different types of coverage under a single policy.
Plate Glass Wholesale Distributor's Risks & Exposures
Premises liability exposure is generally limited due to lack of public access to the storage facilities. Customers should be confined to specific areas that are kept clean, dry and free of obstacles. Parking lots and sidewalks need to be in good repair with snow and ice removed, and generally level and free of exposure to slips and falls.
If customers pick up goods, loading docks must be clearly marked and user-friendly. There should be a disaster plan in place for unexpected emergencies. Outside storage poses an attractive nuisance, requiring adequate fencing to keep vandals off the premises.
Contracts with transportation and storage providers may expose the operation to additional liability. Railroad sidetrack agreements pose additional concerns.
If there is a railroad sidetrack or dock, an employee must verify that no one is in the path of an incoming or outgoing train. Railroad tracks and conveyors can be attractive nuisances. The premises should be enclosed by fencing with "No Trespassing" signs posted.
Products liability exposure is minimal unless the glass is imported or designed for special safety purposes, such as bullet proofing. If there is a warranty, there should be adequate protection from the manufacturer to protect the wholesaler. Direct importing of stock can increase the exposure to that of a manufacturer.
Workers compensation exposure is very high. Back injuries, hernias, sprains, and strains can result from lifting. Workers should be trained in proper lifting techniques and have conveyances available. Shelving must be stable to prevent stored goods from falling onto workers.
Glass-cutting operations can result in cuts, puncture wounds, and foreign objects in the eye. Protective equipment must be worn while cutting glass. Forklift operators must be properly trained.
Continual standing can result in musculoskeletal disorders of the back, legs, or feet. Floor coverings or coatings in the warehouse can pose slip and fall hazards. Housekeeping is critical. When work is done on computers, employees are exposed to eyestrain, neck strain, and repetitive motion injuries including carpal tunnel syndrome.
Cleaning workers can develop respiratory ailments or contact dermatitis from working with chemicals. Salespersons and delivery drivers may be confronted by robbers, injured in automobile accidents, or be injured at customers' premises. Training must be provided to deal with such situations.
Property exposures are moderate due to multiple ignition sources, open construction, and the combustibility of packaging materials. Ignition sources include electrical wiring and equipment, heating and air conditioning systems. All wiring must be well maintained and up to code for the occupancy.
Glass has low ignition potential, but can shatter in the event of a fire or from firefighting efforts. All stock should be racked and stored with adequate aisle space to prevent a fire from spreading. Good housekeeping and fire controls are critical. Smoking should be prohibited.
If there is a sprinkler system, heads must be located high enough to avoid accidental contact with forklifts. Recharging of forklifts and maintenance of vehicles should be done in a separate, ventilated area away from combustibles.
Glass may attract vandals. Alarms, guards, fencing and other security precautions must be in place as appropriate to the location.
Inland marine exposure is from accounts receivable if the distributor offers credit to customers, computers for tracking inventory, contractors' equipment, goods in transit, and valuable papers and records for manufacturers' and customers' information. Duplicates must be kept of all data to permit easy replication in the event of a loss.
Contractors' equipment includes forklifts and hand trucks used for moving stored items. While goods in transit may come to the warehouse via contract or common carriers or trains, items are generally delivered to customers on trucks owned by the distributor. Glass, particularly larger pieces, can break during transit from jarring, collision or overturn. Vehicles are often custom made to carry glass plates.
Crime exposure is from employee dishonesty. Background checks, including criminal history, should be performed on all employees handling money. Warehouse operations involve a number of transactions and accounts that can be manipulated if duties are not separated. There must be separation of duties between persons handling deposits and disbursements and reconciling bank statements.
Regular audits, both internal and external, are important in order to prevent employee theft. Good security systems should be in place to discourage employee theft. Physical inventories should be conducted at least annually.
Commercial auto exposure is moderate for the salespersons' fleet and delivery vehicles. There should be a written policy on personal and permissive use of any vehicles provided to employees. All drivers must be well trained and have valid licenses for the type of vehicle being driven.
MVRs must be run on a regular basis. Random drug and alcohol testing should be conducted. Glass in transit must be secured to prevent shifting of the load during transport. Vehicles must be well maintained with records kept in a central location.
Commercial Insurance And Business Industry Classification
- SIC CODE: 5039 Construction Materials, Not Elsewhere Classified
- NAICS CODE: 423390 Other Construction Material Merchant Wholesalers
- Suggested ISO General Liability Code(s): 10257 Building Material Distributors
- Suggested Workers Compensation Code(s): 8018 Store - Wholesale - NOC
Description for 5039: Construction Materials, Not Elsewhere Classified
Division F: Wholesale Trade | Major Group 50: Wholesale Trade-durable Goods | Industry Group 503: Lumber And Other Construction Materials
5039 Construction Materials, Not Elsewhere Classified: Establishments primarily engaged in the wholesale distribution of mobile homes and of construction materials, not elsewhere classified, including prefabricated buildings and glass. Establishments selling construction materials to the general public and known as retail in the trade are classified in Retail Trade, Industry 5211. Establishments primarily engaged in marketing heavy structural metal products are classified in Industry 5051.
- Architectural metalwork-wholesale
- Fencing and accessories wire-wholesale
- Glass flat: except automotive-wholesale
- Grain storage bins-wholesale
- Metal buildings-wholesale
- Mobile homes-wholesale
- Plate glass-wholesale
- Prefabricated buildings-wholesale
- Septic tanks-wholesale
- Structural assemblies prefabricated: non-wood-wholesale
- Window glass-wholesale
Plate Glass Wholesaler Distributor Insurance - The Bottom Line
Not all plate glass wholesaler distributor insurance polices are alike. If you are looking for business insurance, or want to see if your current policy fits your insurance needs, speak to an agent to take a look at your operations.
In many cases they can save you premium dollars and offer you better policy options than you currently have.
Types Of Small Business Insurance - Requirements & Regulations
Perhaps you have the next great idea for a product or service that you know will appeal to your local area. If you've got a business, you've got risks. Unexpected events and lawsuits can wipe out a business quickly, wasting all the time and money you've invested.
Operating a business is challenging enough without having to worry about suffering a significant financial loss due to unforeseen and unplanned circumstances. Small business insurance can protect your company from some of the more common losses experienced by business owners, such as property damage, business interruption, theft, liability, and employee injury.
Purchasing the appropriate commercial insurance coverage can make the difference between going out of business after a loss or recovering with minimal business interruption and financial impairment to your company's operations.
Insurance is so important to proper business function that both federal governments and state governments require companies to carry certain types. Thus, being properly insured also helps you protect your company by protecting it from government fines and penalties.
Small Business Insurance Information
In the business world, there are many risks faced by company's every day. The best way that business owners can protect themselves from these perils is by carrying the right insurance coverage.
The The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight.
Commercial insurance is particularly important for small business owners, as they stand to lose a lot more. Should a situation arise - a lawsuit, property damage, theft, etc. - small business owners could end up facing serious financial turmoil.
According to the SBA, having the right insurance plan in place can help you avoid major pitfalls. Your business insurance should offer coverage for all of your assets. It should also include liability and casual coverage.
Types Of Small Business Insurance
Choosing the right type of coverage is absolutely vital. You've got plenty of options. Some you'll need. Some you won't. You should know what's available. Once you look over your options you'll need to conduct a thorough risk assessment. As you evaluate each type of insurance, ask yourself:
- What type of business am I running?
- What are common risks associated with this industry?
- Does this type of insurance cover a situation that could feasibly arise during the normal course of doing business?
- Does my state require me to carry this type of insurance?
- Does my lender or do any of my investors require me to carry this type of policy?
A licensed insurance agent or broker in your state can help you determine what kinds of coverages are prudent for your business types. If you find one licensed to sell multiple policies from multiple companies (independent agents) that person can often help you get the best insurance rates, too. Following is some information on some of the most common small business insurance policies:
|Business Insurance Policy Type||What Is Covered?|
|General Liability Insurance||What is covered under commercial general liability insurance? It steps in to pay claims when you lose a lawsuit with an injured customer, employee, or vendor. The injury could be physical, or it could be a financial loss based on advertising practices.|
|Workers Compensation Insurance||What is covered under workers compensation insurance? This type of insurance protects a business and its owner(s) from claims by employees who suffer a work-related injury, illness or disease. Workers comp typically provides the injured employee with benefits to cover medical expenses, a portion of his/her lost wages, rehabilitation costs if applicable, and permanent partial or permanent total disability.|
|Product Liability Insurance||What is covered under product liability insurance? I pays an injured party's settlement or lawsuit claim arising from a defective product. These are usually caused by design defects, manufacturing defects, or a failure to provide adequate warning or instructions as to how to safely use the product.|
|Commercial Property Insurance||What is covered under business property insurance? General liability policies don't cover damages to your business property. That's what commercial property insurance is for. It protects all of the physical parts of your business: your building, your inventory, and your equipment, giving you the funds you need to replace them in the event of a disaster. If you work from home, you might consider a Home Based Business Insurance policy instead.|
|Business Owners Policy (BOP)||What is covered under a business owners policy (BOP)? This is a policy designed for small, low-risk businesses. It simplifies the basic insurance purchase process by combining general liability policies with business income and commercial property insurance.|
|Commercial Auto Insurance||What is covered under business auto insurance? This type of insurance covers automobiles being used for business purposes. This could include a fleet of business-only vehicles or a single company car. In some cases it might cover your car or your employee's car while they're being used for business. These policies have much higher limits, ensuring you can cover your costs if one of these vehicles gets into an accident.|
|Commercial Umbrella Policies||What is covered under commercial umbrella insurance? This type of policy is a sort of "gap" insurance. It covers your liability in the event that a court verdict or settlement exceeds your general liability policy limits.|
|Liquor Liability Insurance||What is covered under liquor liability insurance? It covers bodily injury or property damage caused by an intoxicated person who was served liquor by the policy holder.|
|Professional Liability (Errors & Omissions)||What is covered under professional liability insurance? This type of business insurance is also known as malpractice oe E&O. It covers the damages that can arise from major mistakes, especially in high-stakes professions where mistakes can be devastating.|
|Surety Bond||What is covered under surety bonds? Bonding is a contract where one party, the SURETY (who assures the obligee that the principal can perform the task), guarantees the performance of certain obligations of a second party, the PRINCIPAL (the contractor or business who will perform the contractual obligation), to a third party, the OBLIGEE (the project owner who is the recipient of an obligation).|
Who Needs General Liability Insurance? - Virtually every business. A single lawsuit or settlement could bankrupt your business five times over. You might also need this policy to win business. Many companies and government agencies won't do business with your company until you can produce proof that you've obtained one of these policies.
Business Insurance Required by Law
If you have any employees most states will require you to carry worker's compensation and unemployment insurance. Some states require you to insure yourself even if you are the only employee working in the business.
Your insurance agent can help you check applicable state laws so you can bring your business into compliance.
Other Types Of Small Business Insurance
There are dozens of other, more specialized forms of small business insurance capable of covering specific problems and risks. These forms of insurance include:
- Business Interruption Insurance
- Commercial Flood Insurance
- Contractor's Insurance
- Cyber Liability
- Data Breach
- Directors and Officers
- Employment Practices Liability
- Environmental or Pollution Liability
- Management Liability
- Sexual Misconduct Liability
Whether you need any or all of these policies will depend on the results of your risk assessment. For example, you probably don't need an environmental or pollution policy if you're running an IT company out of a leased office, but you would need data breach and cyber liability policies to fully protect your business.
Also learn about small business insurance requirements for general liability, business property, commercial auto & workers compensation including small business commercial insurance costs. Call us (855) 767-7828.
Additional Resources For Wholesale And Distribution Insurance
Read informative articles on wholesale distribution insurance. Distributors and wholesalers face specific risks including fire, flood and weather damage that can destroy products in the distribution center - and every part of the supply chain including late supplier shipments to unpaid invoices - can effect the entire operation.
- Air Conditioning And Heating
- Audio And Video Equipment
- Beer & Ale
- Cameras & Musical Instruments
- CDs, DVDs And Videos
- Dairy Products
- Dry Goods
- Electrical Appliances
- Electrical Equipment
- Electrical Supplies
- Electronic Equipment
- Greeting Cards
- Importer & Exporter
- Liquor Wholesaler
- Manufacturers Representative
- Motion Picture
- Plate Glass
- Plumbing Supplies
- Restaurant Equipment
- Roofing Materials
- Seed Merchants
- Theatrical Supplies
- Wholesale Florist
- Wholesaler Distributor
Wholesale and distribution operations have many of the same physical damage and property coverage concerns as warehouse operations. In both, the value of both real property and stocks of merchandise is very high. Loss control and other techniques appropriate to the types of merchandise involved are needed. For these reasons, adequate and appropriate property insurance coverages are important.
Managing inventories, equipment and facilities can expose your wholesale distribution operations to some specific and unique risks.
The commercial auto exposure can also be significant, based on the extent of merchandise delivery. In addition, transportation or motor truck cargo insurance on the merchandise must also be arranged.
Employee theft is always an issue and can be a significant exposure, depending on the type of property involved. Finally, the types of merchandise and material handled makes workers compensation insurance another very important coverage.
Minimum recommended small business insurance coverage: Business Personal Property, Business Income and Extra Expense, Accounts Receivable, Computers, Contractors' Equipment, Goods in Transit, Valuable Papers and Records, Employee Dishonesty, General Liability, Employee Benefits, Umbrella, Business Automobile Liability and Physical Damage, Hired and Non-owned Auto & Workers Compensation
Other commercial insurance policies to consider: Building, Earthquake, Equipment Breakdown, Flood, Leasehold Interest, Real Property Legal Liability, Signs, Computer Fraud, Forgery, Money and Securities, Cyberliability, Employment-Related Practices and Stop Gap Liability.