Warehouse Insurance Program! Exclusively From GDI Insurance Agency!
GDI Managing Your Total Cost of Risk. Including Savings On Your Insurance Costs!
GDI Insurance and Grant Davis are your Warehousing Partner
GDI Insurance agency can deliver the strategies, tools and resources that will help you manage your risks, control workers' compensation claim costs, advance
safety and boost employee morale. Let us show you how!
Warehouse Legal Liability Coverage
Warehouse owners are exposed to the risk of fire, flood, theft and damage of third-party owned materials stored in their facilities. A warehouse owner assumes responsibility for the materials they store for others for a fee. If your
facility experiences a loss, the third party must prove that you failed to exercise due care over their possessions. Regardless of the size of your
warehouse, either one room or a large-scale facility, you must protect yourself against potential liability with the proper insurance coverage.
Warehouse Legal Liability Insurance provides protection in the event that negligence on your part results in damage to someone else's property. "Damages may be limited by a term in the warehouse receipt or storage agreement limiting the
amount of liability in case of loss or damage, and setting forth a specific liability per article or item, or value per unit of weight, beyond
which the warehouse owner shall not be liable." This means that your contract must detail the value of what is placed in your storage facility to
determine damages in the event of a loss.
Warehouse Legal Liability policies cover your legal liability as the warehouse owner with regard to a failure to exercise due care to
prevent a loss. For example, you would be held liable if you forgot to set your facility's alarm and thieves stole materials stored by a third
- Bailees' Customers policies cover stored property with regard to loss or damage without taking your legal liability into account. This
protection is more encompassing but comes at a higher price tag.
A typical policy excludes the following:
Accounts, bills and currency
Delay, loss of market or loss of use
Loss caused by forged warehouse receipts
Change in temperature or increased humidity
Infestation or deterioration of the property
Legal defense costs
Materials not covered by a warehouse receipt