Refrigerated Warehousing & Storage Insurance

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From devastating property damage due to poor weather conditions to employee injuries on the premise of their workplace - these are some of the reasons that can get your storage business in legal and financial trouble.

Getting your refrigerated warehousing and storage facility insured is essential if you want to protect its financial standing from any lawsuits or claims that may arise in the event of an accident.

How Much Does Refrigerated Warehousing & Storage Insurance Cost?

The total cost of your refrigerated warehousing and storage insurance will vary on a number of factors including the size of your business, the level of cover you’re taking out, the state you operate out of, and your insurance company.

Generally speaking, the average refrigerated warehousing and storage provider pays around $150 per month or $1,800 per year on general liability insurance.

Every physical business in the U.S. is recommended to take out a business owner’s insurance policy. Such a policy combined commercial property insurance and general liability insurance. So, in case your property gets damaged from vandalism or poor weather conditions, you’ll be covered. You can expect to pay around $100 per month.

Refrigerated warehousing and storage facilities that hire employees will also need to take out worker’s compensation insurance. This insurance will cover your employee’s medical bills, hospital fees, lost wages, and other costs in the event of an accident at their place of work. You can expect to pay around $250 per month for such a policy.

If your storage business also has company vehicles - commercial auto insurance will be necessary. That can cost you anywhere from a few hundred dollars up to a few thousand per month depending on the number of vehicles you have. Such a policy will protect your company's cars, employees, and any third party involved should a road accident take place.

What Types of Insurance Do Warehousing & Storage Providers Need?

There is a wide variety of insurance policies relevant for refrigerated warehousing and storage providers in the United States. Typically, the ideal level of cover for your business will depend on the scale of your business, the state it operates out of, and the level of coverage you want to opt-in for.

Below, you can discover the best insurance policies for refrigerated warehousing and storage providers.

Why Do Warehousing & Storage Providers Need Insurance?

The number one reason refrigerated warehousing and storage providers should take out insurance is to protect their business financially in case a lawsuit or a claim arises as a result of an accident.

Otherwise, without insurance, they will have to pay for any compensation, legal fees, repairs, and all other costs related to the accident out of pocket, which can seriously harm the financial standing of just about any storage business in the U.S.

For instance, if a tornado goes through your facility and damages all the stock that is being stored within the premises of your business - your clients might sue you so that they can get a reimbursement for the damaged products. With insurance in place - the insurance company will take care of all that for you.

In other cases, an employee might slip, trip, or fall and break a leg, and in case you didn’t provide them with all the necessary guidance and safety instructions - they can sue your business, which can land you in a lot of legal and financial trouble.

Whatever the case might be - when your refrigerate warehousing and storage business is insured - no matter the accident at hand - the financial standing of your business will be protected.

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