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Wholesale Insurance | Insurance For Warehouses
Wholesale Insurance
It can be tricky to know what cover you need as a wholesaler; since there are so many policies – getting the correct insurance can be complex. Wholesalers tend to run into many risks day to day; whether that’s something wrong with the products they sell, or an employee tripping on the job that results in them getting a serious injury.
Luckily, East Yorkshire Insurance Brokers are experts in what kind of wholesale insurance you need so that you’re always protected. So whether you’re a wholesaler or you run a warehouse (or any other similar trade), with our help we will get you the correct cover you need for your business today!
Trusted by 250+
Local Businesses
Access To Over 300
Insurance Markets
Our Clients Rate
EYIB 4.9/5 Stars
Trusted By 250+ Local Businesses
Access To Over 300 Insurance Markets
Our Clients Rate EYIB 4.9/5 Stars
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What Is Wholesale Insurance?
What Is It?
Typically called commercial combined insurance, wholesale insurance or insurance for warehouses is a policy that includes all the covers that this type of business will need. It’s useful for wholesalers and warehouses since it’s convenient and saves you the time it takes to arrange separate policies like stock or liability cover. Having commercial combined insurance means that you are covered from the financial repercussions if something happens and you are liable.
We can talk you through each cover and assess if you need to include each one or not in your policy, so you can get the peace of mind you need that your business won’t suffer financially if something does happen to go wrong.
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Why You Should Choose Us For Your Wholesale Insurance
Why Choose EYIB
We Have Experience
EYIB has been around for over 5 years and overall our brokers have over 15 years of experience in insurance for warehouse and wholesale businesses.
Local Businesses Love Us
Over 250 local businesses trust us with their insurance needs – we’re a wholesale insurance broker that you can be confident in.
We Can Access A Huge Market
Our connections include access to over 300 insurers; meaning we can typically get you the policy you need for your business.
Years Experience
Local Businesses Insured
Insurers
Our Insurance Partners
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What Covers Are Included In Wholesale Insurance
What’s Included?
Stock insurance
When you have a business that relies on stock and something happens to damage it, this could cost an extreme amount to replace and mean that you’re unable to trade until you get it sorted. Things like fires and floods could happen at any time, but with stock cover included this means that your finances don’t take a hit.
Building insurance
You don’t just have the risk of something happening to your stock but to the building itself. Storms, floods or fires could end up causing severe damage to your warehouse and the result? It is costly to repair and you are unable to run your business. Building insurance will cover the rebuild cost, giving you peace of mind.
Building insurance
Machinery and equipment cover
These kinds of businesses often use forklifts and pickers that are expensive but crucial for the operations of your business. This will cause downtime for your business whilst repairing these machines, not to mention, it will be expensive. Machinery and equipment insurance will cover the expenses from accidental damage and theft so you can address these problems as quickly as possible.
Business interruption
If your business has to temporarily shut down due to an unforeseen event taking place, then you won’t be able to make a living. Disasters like fires or even being targeted by thieves could disrupt your flow, but having business interruption cover in place means that your business can remain running after a disaster.
Business interruption
Goods in transit
If your warehouse regularly sends goods; there’s always the risk that they get damaged while in transit. By adding goods in transit cover to your commercial combined insurance, ensures that if something happens to your stock then you will get compensated for the value you’ve lost.
Product liability
Distributing a faulty product can be easily missed. If this happens you will be liable. Don’t take the risk – with product liability included in warehouse insurance you don’t have to worry if a mistake like this is made.
Product liability
Public liability
Customers or suppliers may visit your warehouse, and if they happen to slip and become injured, the legal expenses could be devastating to you and your business. Public liability means that legal costs will be covered if a claim is made against you.
Employers liability
Employers liability cover under your warehouse insurance is essential since it is a legal requirement in the UK if you have employees. You are responsible for your staff’s wellbeing; if they become injured or sick due to a work related incident, then you’re the one that’s liable. This insurance protects you from the costly legal expenses and medical bills if you are sued.
Employers liability
How Much Does It Cost?
The cost of your wholesale insurance depends on a variety of factors. The size of your business, how many employees you have and how expensive the stock that you hold is, all will contribute to how much your policy will be. Some warehouses that are larger than others may also require more additional covers than smaller ones. If you want to know how much your wholesale insurance will cost, give us a call at EYIB and we can provide you with a free insurance quote.
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How Much Does Wholesale Insurance Cost?
How Much Does It Cost?
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Do I Need Wholesale/ Warehouse Insurance?
Do I Need It?
Nobody thinks that something bad will happen to them… Until it does. And if you don’t have wholesale/ warehouse insurance in place then you may have to say goodbye to your business all together. Accidents can happen to anyone and you also can’t predict things like the weather. All it takes is for something expensive to get damaged or someone to make a claim against you and you could lose everything you worked so hard for. But having commercial combined insurance for warehouses acts as a safety net so you’re financially covered if something does go wrong.
Example Of How Wholesale Insurance Would Work
Dave runs a wholesale business that distributes kitchen appliances. One of the coffee makers that was purchased happens to have a faulty heating mechanism. The item then overheats and the customer who purchased this item has suffered serious burns and files a lawsuit against Dave’s business.
This could have been a financial disaster and Dave would have lost his business to pay off the legal expenses. But luckily Dave had a good head on his shoulders and took out commercial combined insurance for his wholesale business, which covered the legal costs and medical bills of the customer. Now Dave can continue to run his business successfully knowing that if something like this were to happen again, he’s got a financial safety net.
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More Potential Claims That You’ll Need Wholesale / Warehouse Insurance For
Wholesale Claim Example
A fire breaks out in your warehouse and destroys a large amount of stock and does some damage to the building as well. Commercial combined insurance has building and stock cover included covering your cost to replace your expensive stock and repairing the premises. This means that you can get your business up and running again without taking a huge financial hit.
An expensive item you’re distributing gets lost in transit and you now have to find the money to replace this, taking a large hit to your finances. Goods in transit insurance for warehouses covers the costs of replacing lost items so you don’t have to lose money if this occurs.
What Our Clients Think
John was amazing—friendly, patient, and full of great advice. He really took the time to understand our charity and made sure we got exactly the right insurance. Highly recommend East Yorkshire Insurance Brokers
Billy Dasein
East Marsh United
Sarah provided excellent service, taking the time to review our sums insured and ensure everything was accurate. She pointed out gaps in our cover we weren’t aware of and explained everything clearly. We feel much more confident now. Highly recommend East Yorkshire Insurance Brokers!
Connor Hewson
Assured Marketing
East Yorkshire Insurance Brokers have looked after our insurance for several years, and we’re always impressed by the great service they provide. They’re professional, reliable, and always find us a competitive deal. Couldn’t ask for better!
Jason Kay
H2MO Limited
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Introducing Your Wholesale Insurance Broker
Your Dedicated Insurance Broker
Meet John, your dedicated wholesale insurance broker. John knows all about insurance for warehouses and takes the time to understand what it is that your business needs while talking you through the policy, so you can make sure that you’re properly protected. John is also our managing director and has over a decade of experience in helping businesses with their insurance. With his knowledge of the ins and outs of commercial combined cover, you can relax knowing your business is in safe hands. Don’t put your business at risk, get in touch with EYIB today and protect yourself today.
What are wholesale insurance policies?
Wholesale insurance includes all the cover that you need to protect your business against the potential risks you may face day to day.
What are wholesale insurance policies?
What happens if inventory is damaged during transportation?
If the stock your distributing gets damaged and you have goods in transit insurance in place then the insurer will pay the cost it takes to repair or replace what was damaged during delivery.