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:
- What Is Plate Glass Wholesaler Distributor Insurance?
- 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?
- What Does Plate Glass Wholesaler Distributor Insurance Cover & Pay For?
What Is Plate Glass Wholesaler Distributor Insurance?
Plate glass wholesaler distributor insurance is a type of insurance coverage designed specifically for companies that wholesale and distribute plate glass products.
This type of insurance provides protection against a variety of risks associated with the storage, transportation, and sale of plate glass products. These risks include damage to the products, liability for injury or damage caused by the products, and loss of income due to business interruptions. The coverage typically includes protection against property damage, liability, and business interruption, and may also include coverage for theft and loss of income due to theft.
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.
What Does Plate Glass Wholesaler Distributor Insurance Cover & Pay For?
Plate glass wholesalers and distributors can be sued for various reasons, and insurance policies are designed to help protect them from the financial burden of these lawsuits. Here are some common reasons for lawsuits and how insurance can help:
Property damage: A plate glass wholesaler or distributor may accidentally damage a client's property during delivery or installation. In such cases, a commercial general liability (CGL) insurance policy can help cover the costs of repairing the damaged property, as well as legal fees associated with the lawsuit.
Bodily injury: If an employee or customer is injured due to a plate glass product's failure or during installation, the wholesaler or distributor may be held liable. CGL insurance can help pay for medical expenses, lost wages, and legal fees arising from the lawsuit.
Product liability: If a plate glass product is found to be defective or causes harm, the wholesaler or distributor may face a product liability lawsuit. Product liability insurance can help cover the costs of defending against such claims, as well as any damages awarded to the plaintiff.
Professional negligence: If a plate glass distributor is accused of providing inadequate advice, services, or products that result in harm, they may face a professional negligence lawsuit. Professional liability insurance, also known as errors and omissions (E&O) insurance, can help cover the costs of defending against such claims and any damages awarded to the plaintiff.
Contract disputes: Plate glass wholesalers and distributors may face lawsuits over contract disputes, such as late deliveries, incomplete orders, or disagreements over payment terms. A CGL policy with a contractual liability endorsement can help cover the costs of defending against these claims and any damages awarded to the plaintiff.
Employee-related claims: If an employee of a plate glass wholesaler or distributor files a lawsuit for wrongful termination, discrimination, harassment, or other employment-related issues, an employment practices liability insurance (EPLI) policy can help cover the costs of defending against these claims and any damages awarded to the plaintiff.
In summary, various insurance policies, such as CGL, product liability, professional liability, contractual liability, and EPLI, can help protect plate glass wholesalers and distributors from the financial burden of lawsuits arising from property damage, bodily injury, product liability, professional negligence, contract disputes, and employee-related claims. By tailoring their insurance coverage to their specific needs, wholesalers and distributors can minimize their exposure to potential lawsuits and their financial impact.
Commercial Insurance And Business Industry Classification
- SIC CODE: 5039 Construction Materials, Not Elsewhere Classified
- NAICS CODE: 423390 Other Construction Material Merchant Wholesalers
- 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.
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
- Specialty Dealers And Distributors
The wholesale distribution industry plays a crucial role in the supply chain process, connecting manufacturers and retailers to customers. It involves the storage, transportation, and distribution of a wide range of products, including raw materials, finished goods, and equipment.
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.
As with any business, the wholesale distribution industry is exposed to a variety of risks that can impact its operations and profitability. These risks can range from property damage and theft to liability claims and employee injuries.
Business insurance helps to protect a wholesale distribution company from these potential losses by providing financial protection in the event of unexpected events. It helps to cover the costs of repairs, replacements, and legal fees, as well as lost income and wages.
For example, if a warehouse fire destroys a large portion of a wholesale distributor's inventory, business insurance can help to cover the cost of replacing the lost goods and repairing the damaged property. Similarly, if a customer is injured on the company's premises, liability insurance can help to cover the cost of legal fees and settlement payments.
In addition to protecting the company's assets and financial stability, commercial insurance also helps to protect the company's reputation. If a company is sued or faces a major loss, it can damage its reputation and credibility in the industry. Business insurance helps to mitigate these risks and maintain a positive reputation.
Overall, the wholesale distribution industry needs business commercial insurance to protect against unexpected risks and losses, maintain financial stability, and protect the company's reputation. Without it, a company may face significant financial losses and potential legal liabilities that could impact its operations and profitability.
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.