I recently won a new client who operates from two large warehouses on an industrial estate. There was nothing out of the ordinary about this business, they had the usual racking with stock, a couple of forklift trucks, packing area, offices etc
What surprised me was their Commercial Combined Insurance policy had special conditions and exclusions that they were in breach of, and, by rights, could have given the insurance company or one of their Loss Adjusters a fair bit of room to wriggle out of paying a claim.
Their policy said they couldn’t store anything that wasn’t “so far” off the ground, then it said they couldn’t store anything “so high” in the air, and it completely excluded the use of portable heaters, which are often needed in cold warehouses.af
Every policy comes with some standard terms and conditions, and some are added specifically to that policy. Sometimes they are necessary, some might say otherwise.
As an Insurance Broker, it is important to me and my clients that the terms of their Insurance policy suit their needs – the policy needs to fit the business, not the other way around!
The outcome was I found a more suitable policy that didn’t have these restrictions at all, with a high quality insurer and a saving of over 25% on the price!
If your business operates from a warehouse at all, contact us for a no-obligation review of your Insurance policies.