Insurance for

Wholesale Distributors

At First Underwriters, we know all about the unique exposures and critical issues that confront companies in the retail and wholesale distribution industry. Inventory fluctuations make property valuation a challenge. Inventory can be spoiled when a pipe freezes and bursts. Extremes of temperature and humidity can be equally destructive. Electrical fires can happen when there’s no one around, and damage can be severe. Unfortunately, there is also a potential for employee theft.

The commercial automobile exposure can also be significant, based on the extensiveness of merchandise delivery. In addition, there may be a need for transportation or motor truck cargo insurance coverage on the merchandise. And the types of merchandise and material handled makes workers’ compensation insurance a significant exposure to loss.

For these reasons, adequate and appropriate customized property insurance coverage is important.

First Underwriters provides a comprehensive review of your exposures to develop an insurance program tailored to your size and scope – whether you are a small local supply business or a large multistate distributor – so you can focus on meeting the needs of your customers.

Commercial Insurance Coverages

Insurance exists for the purpose of protecting persons and organizations from the adverse financial consequences of certain unpredictable events, regardless of the coverage line being considered. For general liability insurance, the unpredictable event that constitutes the subject of the insurance is a claim of legal liability arising out of a company’s operations, premises, products, and completed work.

Commercial property  is the policy that an organization purchases to pay for damage to its own buildings and the personal property in them. A commercial property policy can also cover loss of income or increase in expenses that result from insured damage to buildings and their contents.

The hired auto and nonowned auto liability endorsement is appropriate for use only if the insured entity does not own any automobiles. In fact, ISO Commercial Lines Manual rules specify that the endorsement is not available to insureds that have another policy covering commercial auto exposures. It provides coverage for bodily injury and property damage liability in connection with just “hired autos,” just “nonowned autos,” or both, as indicated in the endorsement schedule.

Garagekeepers is coverage provided under a garage policy for auto and trailer dealers, particularly those dealers that maintain a service department or body shop, for liability exposures with respect to damage to a customer’s auto or auto equipment that has been left in the dealer’s care for service or repair, for example. For other types of auto-related businesses, such coverage is available under the garagekeepers coverage endorsement (CA 99 37). Coverage is contingent on establishing liability on the part of the insured.

The Commercial Auto policy will pay “sums” for which the insured is legally liable because of bodily injury or property damage to which the insurance applies. Therefore, while covered bodily injury or property damage is required to trigger coverage, recovery under the policy can actually go beyond these types of damages.

Auto Physical Damage is coverage for damage to autos owned by the insured, and it’s completely optional (unless required by a lender). Physical damage coverage is divided into loss caused by collision, and loss caused by something other than collision. (The latter category is frequently referred to as comprehensive coverage, but in reality, “comprehensive coverage” is one of two types of coverage for loss caused by “other than collision.”) These are separate coverages, with different rates, and at the insured’s option, different deductibles. They can be purchased separately or in combination.

On-Hook Towing coverage is a type of insurance policy that will protect the towing business in the event that there is damage or vandalism to the vehicle being towed. Basically, On-hook Towing insurance is self explanatory; the coverage is needed to protect vehicles owned by someone else during the actual towing process while the vehicle is hooked.

Without dealer plate insurance, car dealerships cannot legally offer test drives in their unregistered vehicles. This insurance covers the liability of a vehicle in case an accident happens during a test drive on public roads.

Umbrella liability insurance and excess liability insurance are two forms of secondary coverage—that is, they both sit above one or more underlying liability policies and do not attach until the underlying policy’s limit of insurance has been exhausted.

Umbrella liability insurance and excess liability insurance are two forms of secondary coverage—that is, they both sit above one or more underlying liability policies and do not attach until the underlying policy’s limit of insurance has been exhausted.

We Work For You!

7599 - Reliability

WE WORK WITH TOP RATED CARRIERS

There are more than 100 insurers licensed in the US, each with its own specialty. We will match them with your specific needs and requirements.

7612-Trust

WE ADVISE AND ACT IN YOUR BEST INTEREST

We will help you identify your individual and/or business risks to help you decide what to insure, and how to manage those risks in other ways.

7589 - Morality

WE PLACE YOUR CUSTOMIZED POLICY

We will arrange the right insurer, negotiate the terms and place the policy on your behalf, all while making the most of your insurance budget.

Ready to Apply?

You may submit an application online using this QUOTE REQUEST From to the right, or download and fill out the application and supplemental documentation. If you download the application you may either submit them via email, fax or postal mail.

- Wholesale Insurance -

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