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Whether youre new to the industry or have been working in it for 40 years, you know the importance of warehouse insurance. Insurance coverage is your safety net whenever something goes wrong at your facility. Mistakes in your policy can end up costing your business hundreds of thousands. Here are some of the most common mistakes warehouse owners make.
Not Shopping Around
Insurance companies arent all the same. Many agencies do not offer all the services you need to protect your business. Others might have complete coverage, but at double the price of their competitors. Always compare policies before selecting one.
Not Thinking Long-Term
If youre planning for business growth, why not apply that to every part of your business? Selecting an insurance agency that doesnt have the resources to handle your growth just means frustration down the line.
Not Choosing One Company
This may sound obvious, but its a bad idea to mix and match policies from different companies. While shopping around can be beneficial, partial policies generally create gaps in coverage akin to having no insurance at all.
Avoiding these mistakes will greatly benefit your company. If you do a little research, you should be able to find the right warehouse insurance company. An agency with experience in your industry can help you select a policy that fits the needs of your business perfectly.