Business Insurance for Wholesalers and Retailers in Alberta
As a retail business, your risks are unique. Not only do you have staff and customers to protect when visiting your locations, you’re dealing with the distribution and transportation of goods. With a constantly fluctuating global marketing this can make your work challenging.
Rogers McLean Shaw realizes the importance of the wholesale/retail industry, and we understand the kind of coverage needed to protect the inventories that comprise the bulk of property assets for these kinds of businesses.
What Is Wholesaler Distribution Insurance?
If you sell products, either in a physical location or online, you should have insurance to protect against inventory theft, equipment breakdown and other unexpected events. Our trusted Rogers McLean Shaw brokers can discuss your wholesale insurance and/or retail insurance needs to help build a package to keep you protected if something unfortunate happens.
Who Needs Wholesaler Insurance?
While insurance can’t prevent bad things from happening, like global supply chain issues, it can help protect your business if they do. If an unexpected event happens, wholesaler insurance can reduce some of the financial burden that you may experience.
It also provides an opportunity for risk management education so that you can learn how to safeguard your business.
Business Insurance Coverage for Wholesalers
Your insurance package can be customizable and should have some of the common coverages that include:
- Commercial General Liability – covers property damage, injuries and potential legal expenses caused by negligent acts by yourself or an employee.
- Commercial Auto Insurance – it is mandatory for all vehicles in Alberta to have insurance. This coverage must include third-party liability, which helps cover your expenses if you or an employee is an accident that causes property damage or injuries to another person.
- Commercial Property Insurance – protects your businesses physical assets that include equipment, tools, inventory, materials and more.
- Contents & Inventory Coverage – this coverage would help cover the costs to replace all of the contents in your building (including furniture, computer equipment, inventory etc.) in the event of a loss.
- Cargo Insurance – if you transport goods, cargo insurance helps cover damage or loss of the shipment while in transport.
- Equipment Breakdown Insurance – most equipment breakdowns aren’t under regular property insurance coverage. Equipment breakdown insurance helps provide coverage for repairs and replacements if something breaks.
How Much Does Wholesaler or Retailer Insurance Cost?
The cost of wholesaler or retail insurance will vary depending on the type of coverage you need and other factors that include:
- Your insurance and claims history
- The age, location, construction materials used and type of premises that your business operations are located in
- The value of your inventory
- Security features used by your business
Our brokers will look at all these factors and advice you on the types of coverage you would need and what would be the best value for your money. We can also work with you to manage your risks.
Rogers McLean Shaw: Trusted Wholesaler Insurance Broker
At Rogers McLean Shaw, we believe in putting the customer first. Our brokers are here to help you protect your business by building a policy that you understand. With over 65 years in the industry, we are a trusted Alberta-based company with deep ties to the businesses within our community.
As a partner of the Rogers Insurance Group of Companies, we have access to a variety of international insurance companies and can provide a range of comprehensive coverage options. Contact us today to learn more.