The business operations require the workers to have a safe work environment, inventory is handled professionally and equipment used is serviced and up to standard. However, even with thorough preparation, things out of your control can happen and lead to financial loss.Having wholesale coffee distribution insurance will give you peace of mind. The policy will protect your business against any lawsuits.
Cost of Wholesale Coffee Distributor Insurance
Coffee distributors require a licensed insurance agent to advise on the best insurance coverage for their business. General liability insurance costs will depend on the location, the number of employees, revenue, claims history, and inventory.
Types of Insurance Coverage
There are several policies available for coffee distributors. However, the type of insurance you opt for will depend on your operations and business policies.
Here are some basic policies that a wholesale coffee distributor should have.
Commercial General liability
It protects your business against third-party claims such as bodily harm and property claims. The policy pays for legal fees and any other damages. It also covers any advertisement, slander, and claims against your business.
If your coffee causes an illness after consumption, a product liability policy will pay for medical bills, legal fees as well as any compensation granted.
It covers the cost of repair or replacement of equipment that cannot be repaired if there is a fire, theft, or vandalism within your commercial property.
This policy is a requirement for any business with employees. It covers all staff in case of a work-related accident. It covers medical bills, lost wages of the injured employee.
Covers all vehicles and persons who use the vehicles for the business in case of an accident.
As a wholesale coffee distributor, you can get individual policies or opt for a commercial package policy, which will combine policies under a single policy.