Whether you store items in a warehouse or own one, it’s important to know the legal liabilities of warehouses. Warehouse legal liability insurance in Orlando is different than a standard commercial property policy. These differences can affect the property that is stored in the warehouse.
The details in the receipt, agreement or contract with the warehouse determines the coverage of the property. Ensure that you maintain the records of the contract or receipt in order to make a claim. Some policies pay only a specific amount per pound of goods and only with written documentation from the warehouse.
There are often more exclusions in a warehouse legal liability policy than a standard commercial property policy. Contract limitations often apply to covered risks. Knowing what those exclusions are can help you save time, money and hassle when disaster strikes. As an owner of the warehouse, it’s best to ensure the right information is listed on the contract or receipt about the insurance coverages.
Speak with your insurance agent to see if you need additional coverage beyond warehouse legal liability insurance in Orlando for items stored at a warehouse. Your commercial property insurance may extend to cover the items in the offsite location. Thoroughly understand the warehouse contract and insurance policies to see specific covered risks.