Warehouse Insurance

No. Our warehouse insurance can be made to fit your specific business requirements, so you will only pay for what you need to cover. Our advisers can recommend a policy that will suit your own business.

Not all businesses are the same and we recognise that trading and stock levels can fluctuate during the year. We offer flexible stock cover on a monthly declaration basis, allowing you to pay a deposit premium for stock insurance, adjusted annually in arrears. You benefit as stock cover for the maximum sum insured at your peak trading times is arranged. All we ask is that you send us month end stock value declarations. This enables premiums to be charged on the averaged stock value held during the year, and you still have cover throughout up to the maximum stock value held.

Remember, the valuation of stock is based on the replacement cost to you not the end customer sales price.

No, if you are renting your unit you do not need buildings cover, so make sure you actually need this before adding it to your policy. It’s normal for a lease to require you to contribute to the landlord’s buildings insurance costs. For long term leases there may be contractual insurance clauses requiring you to arrange cover. Check with your legal advisers. If in doubt, call one of our advisers and they will be happy to help.

Yes, our warehouse insurance can cover both standard storage and office portions. This is very common and catered for. It’s important that you tell us how you use the property. We cover trade warehouses for contractors’ supplies, engineering and precision engineering parts, spares, clothing and the like.

Our warehouse insurance can include business interruption cover to recompense loss of net profit and those continuing variable overheads if you have to close your premises following an insured loss or damage, such as a break in, burst pipe, flood or fire.

We can discuss your requirements, as an important aspect of business interruption cover relates to the length of time you will be affected by a severe loss and get back to trading at the same pre-loss levels. This is called the Indemnity period and it usual for cover to range from 12, 18, 24 or 36 months, depending on the rebuild time of the property and the time to reconnect with lost clients.

Yes, we can insure your stock when it is being transported between your premises, to and from suppliers and exporters, as well as your deliveries out to your own customers. Cover will be tailored to the types of carriage - do you use solely your own business vehicles, or a combination of vehicles, post, couriers and hauliers. If in doubt, call one of our advisers and they will be happy to help.

Yes, we can provide three months of 'seasonal' cover, where you can increase your stock by an agreed percentage above your normal stock sum insured insurance limit, without needing to amend your policy cover. If you want to extend your policy to include this cover, just speak to your adviser.

For larger warehousing businesses with higher sums insured – arranging cover on a stock declaration basis may be the most flexible and economic solution for you. Ask us for details.

If you would like to know more about our monthly payment option, please visit our dedicated Direct Debit page.