When you take on your clients’ property, you also take on a significant amount of liability. Even minor mistakes can quickly bankrupt you when you’re dealing with millions of dollars worth of property. Here’s how working with a specialized bailee insurance company can benefit your business.
Storing and transporting cargo is a 24-hour business. There’s no point in having an insurance company that is only available from 9-5. It should be easy to contact agents and have them respond to a claim.
While it seems counterintuitive, smaller agencies can often offer better prices over larger ones. The specialist understands exactly what coverage you need and won’t saddle you with extraneous policies. Better industry connections also generally enable them to reduce costs in working with you.
Bailee insurance can be a minefield to navigate with its difficult and unique problems. Even assuming a big box company offers the proper insurance, it’s rare that they have trained and experienced agents available. An agency that works primarily or exclusively in your industry gives you a major advantage in service.
The transportation industry is only growing as national business becomes a shared global economy. As new business opportunities appear, you need to be able to rise to the occasion. The right bailee insurance can help protect your company as it continues to operate.