photo credit: Gwan Kho
Factories are at the base of all of our heritages. From the birth of the car to mass production of androids, toys to wood products, we all have roots in the factory system, and in today’s workforce, none of it would be made possible without a proper factory and warehouse insurance policy in place to protect the robotic equipment and machines, and the hard working employees who handle all of the packing and shipping.

From forklifts to cranes, a policy of this magnitude covers every piece of equipment down to a micrometer. And coupled with other ‘rider’ policies such as employment liability insurance and public liability insurance, factories can take solace in knowing that production can take place, outputs can increase, and a perfect factory and warehouse insurance policy is in place to protect all assets and persons.

Every single factory around the world potentially has the demand for such a policy and, in fact, it is mandatory to have a factory and warehouse insurance policy in place before a lot of companies are allowed to turn on the first machine. This is in place due to the fact that so many injuries and equipment malfunctions are prevalent in the factory and warehouse sector. So, if you have company vehicles that are not for hire, and used for delivery, you can insure them under the factory and warehouse insurance policy and cover the people inside them, too. Getting injured and losing income because a forklift tipped over and crushed you is definitely not good, and from an employer’s perspective, could be a crushing legal blow if that situation occurred while the company was under- or uninsured.

If a plane flew into your storage facility, it would damage all of your package goods and, with a policy in place, would immediately be covered along with the building it damaged. Also, those who operate a mini warehouse where people rent space would have great use for this policy as well, especially if damage came to a person’s stored goods.

To obtain a factory and warehouse insurance policy, you should make sure to avoid forgetting to list items from your warehouse or factory to be covered and the approximate replacement costs of the items contained within the buildings. Different rates will probably apply towards different types of stock, so it’s important that a full disclosure is made of the items stored to obtain the cheapest and correct price possible for you policy.

Avoid companies who won’t cover the loss of income that would occur in the case of a warehouse disaster. Make certain that the factory has the correct number of exits and evacuation routes as failing to do so could cost your policy to increase, if a company will insure you at all. Finally, as with all companies, you should only deal with insurance companies that are reputable, have customer service available when you need them, and won’t overcharge you to pay with various methods.

Factory and warehouse companies are some of the most hard working and beneficial entities out today. Let us keep our worldwide tradition alive and keep factories moving forward with the proper care only a factory and warehouse insurance policy can bring you and your business.