UK COMMERCIAL INSURANCE FOR EVERY TYPE OF WAREHOUSE
If you are in the Warehouse business you will need insurance as without it your livelihood is at risk.
An unexpected loss could cause financial hardship and destroy years of hard work.
We offer cover for Warehouses, storage units, storage depots, self storage warehouses and retail warehouses.
WAREHOUSE INSURANCE COVERS
UK Commercial Ltd can provide very competitive cover for all types of warehouse buildings in every location and for all types of building construction. Cover is also available for warehouse property which is unoccupied.
Your stock should be insured for its cost price without any addition for profit. Provision can be made for seasonal stock fluctuations.
Plant and business equipment can be insured on either a “replacement as new” or an “indemnity” basis. If indemnity is chosen, wear and tear will be taken into account when settling any claims.
Damage to your property or machinery, or loss of stock, could seriously disrupt your business leading to loss of income and extra expenses.
You must also consider how similar loss or damage at the premises of your suppliers or customers which may impact your own business and consider taking out cover for such supply chain failure eventualities.
Business interruption insurance will compensate for the short-fall in gross profit together with paying any increased working costs and extra accountants’ fees incurred.
When arranging this contingency insurance you will need to estimate the maximum time needed to get your business working normally following the most serious damage. The insurers will ask for an estimate of your anticipated gross profit. If an auditor later certifies an actual figure materially lower than this estimate, a return of premium is normally given.
Engineering insurance provides cover against electrical or mechanical breakdown for most machinery, including computers.
Under UK law, many items of plant such as boilers, lifts and lifting machinery must be inspected regularly by a qualified person. Our Insurers can arrange to provide this service.
Contents are usually covered against theft providing there has been forcible and violent entry to or exit from the premises. Damage to the building resulting from theft or attempted theft will also normally be covered. Theft by employees is usually not covered – cover against employee dishonesty can be arranged by a fidelity guarantee policy.
Money insurance is on an “all risks” basis and covers cash, cheques, postage stamps and certain other negotiable documents.
Different limits will apply to money on the premises in and out of business hours, in safes, at the homes of directors or employees and in transit. There may be requirements in the policy relating to safe keys and the method of transit.
Personal assault cover may be included, which will provide compensation for you or your employees following injury during theft or attempted theft of money.
WAREHOUSE LIABILTY INSURANCE
This provides you with cover and protection against claims for which you would be legally liable for and brought to you by anyone (other than your employees) for bodily injury or loss or damage to property arising in the course of your business.
This protects you against legal liability you may incur as a result of a product that you manufacture or supply is faulty or defective and causes loss or injury to a person or a business.
Eg manufacture of an article not finished properly leaving sharp edge which causes injury.
This is legally required if you have employees (including Directors in a Ltd Company) The Insurance is to protect employers against claims for bodily harm or death brought to employees in the course of employment( this also includes injury by other employees, for whom the employer is liable).
A certificate has to be displayed in a place that all can see.
GOODS IN TRANSIT
Goods in transit insurance covers goods against loss or damage while in your vehicle or when sent by carrier. The sum insured may be a limit for each vehicle or any one consignment.
This protects you against customers who fail to pay their invoices. Because the risk of bad debt can be high, you would probably find it hard to get cover for this unless your business has been successfully up and running for some time.
This covers you for fraud or dishonesty by employees; it can be taken out for specific employees or the whole staff.
LEGAL EXPENSES INSURANCE
This helps to cover the majority of your costs in the event of a legal dispute.
This usually covers legal costs for employment tribunals, prosecutions under Acts such as Health and Safety at Work (etc) 1974,contract disputes and costs caused by in-depth Internal Revenue or Custom and Excise investigation.
Some legal expenses policies also provide free legal advise as well as cover for employees time lost during jury service or as a witness in a case.
CONTACT US FOR COMPETITIVE WAREHOUSE INSURANCE QUOTES AND ADVICE
Warehouse Insurance risks are typically covered under a commercial combined policy which combines all or some of the covers available as mentioned above. In order to ensure that your business has the correct levels of cover and to avoid under-insurance in the event of a claim it is essential that you talk to a specialist warehouse insurance broker who will advise you and provide quotes. Please use the contact form below and we will contact you immediately during normal working hours.