Blog Articles Related To: Property Insurance

Property Insurance

Tom WallaceCommercial Coverage, Property Insurance

property insurance

Moving Parts of Property Insurance In our experience, General Liability insurance gets more attention than property insurance especially from smaller companies and startups. Protection from legal action and meeting qualifications of retailers and distributors is often on the top of the list for specialty food and beverage manufactures and importers. Producers often purchase their own General Liability coverage but often … Read More

Insurance Deductibles

Tom WallaceGeneral, Liability Insurance, Product Liability, Product Recall, Property Insurance

insurance deductibles

Types of Insurance Deductibles Insurance deductibles all serve one function, the insured shares in a portion of a covered loss. Deductibles help weed out small claims and force an insured to have some “skin in the game”. Most insurance buyers think of deductibles in property insurance. We are all used to having a deducible for home or car insurance. A … Read More

Buying US Insurance

Tom WallaceCommercial Coverage, Liability Insurance, Product Liability, Property Insurance

buying US insurance

Starts with a US entity We often get requests from companies domiciled in other countries about buying US insurance. Typically it involves purchasing General Liability insurance required by retailers and distributors here in the US. Insurance companies in the United States typically require the insured on the policy be a US entity in order to buy US insurance. Ownership by … Read More

Cargo Claims

Tom WallaceCargo, Property Insurance

Cargo Insurance

Freight Losses: Be Prepared All of our clients have cargo and property stored somewhere. Few own their own transport vehicles so common and contract carrier use is high. Therefore, cargo insurance is not a common and cargo claims must be filed against shippers. Certainly it is easy to let your shipping company worry about insuring your goods. However, be prepared … Read More

Dependent Property Insurance

Tom WallaceProperty Insurance, Risk Management

Who do you depend on? Production of a food or beverage product is labor intensive. It takes time regardless of who is manufacturing the product. Production modes vary by company. Maybe you own your facility and equipment. Renting commercial kitchens has long been popular. Many cities now have incubator kitchens that offer many services beyond just equipment and storage. However, … Read More

Homeowners Insurance to cover Business Property, Read On?

Tom WallaceHomeowners Insurance, Property Insurance

It is without fail that small business (and sometimes medium size as well) owners store business property at their homes. Homeowners insurance can provide some coverage but not much. Homeowners insurance coverage disputes can end up in court when it comes to covering business property. Case law exists but with mixed results for the policyholder.  Using a residence to store … Read More

Insuring Property for New Companies

Tom WallaceCommercial Coverage, Property Insurance

The Problem When a new specialty food or specialty beverage entrepreneur calls about insurance the conversation is usually about liability insurance because a certificate of liability insurance is the priority. Seems like insuring inventory and other property is not a consideration. Budget is a concern for sure. Amount to insure is a factor. Location of the property may be problematic. … Read More

Contract Review

Tom WallaceContracts, Product Recall, Property Insurance, Risk Management

Contract-A Good Read Contracts, lovely reading are they not? Not always easy to get through but if you are food and beverage manufacturer using a co-packer, distributor, or direct to retail , here are some things you want to keep in mind when reviewing for insurance purposes. Types of Liability Insurance A key contract item is insurance. This will usually … Read More

Brewery and Distillery Insurance for Older Buildings

Tom WallaceBrewery Industry, Distillery Insurance, Property Insurance

Insurance for older structures can be tricky, so if your operation is currently located in one of these structures or you are just thinking about it, take care to review your brewery insurance and distillery insurance. I am seeing more old structures revitalized in downtown areas for breweries and distilleries. The appeal is very obvious. Once renovated, these structures can … Read More