Businesses that operate in the distribution industry tend to face a lot of specific challenges. In order to meet the demands of your clients and avoid disrupting the supply chain, you absolutely need to take time to pick the right insurance coverage. There are many risks that you will face as you maintain and grow your business, so you want to ensure your policy covers all possible threats waiting on the horizon. Assessing the most common risks can be a great way to find a plan that fits your needs.
The Biggest Culprits
While there is no one specific distributors risk that outweighs the rest, there are a few that stand out above the crowd. For example, theft tends to be one of the biggest problems that distributors deal with. From internal stealing to outright robberies, you definitely want to cover your bases with this risk. Electrical failure can also be a point to consider, as this can lead to products spoiling or becoming damaged while in transit. Other points to consider when it comes to your insurance include:
- Accidents related to goods in transit
- Commercial vehicle accidents
- E&O coverage
A Variety of Options
While there might be a number of risks inherent in the distribution industry, there are also many easy ways to stay protected. Take time to learn more about your options with insurance and see how you can keep your assets safe.