Warehouses are liable for unique possibilities than other types of commercial property. As someone who stores materials for others, you assume responsibility for them. If your customer’s goods become damaged, you as the warehouse owner can be liable for failing to care for the possessions. Learn why warehouse legal liability is a crucial aspect of commercial property insurance.
Are You Responsible for Losses?
Legal claims for warehoused goods can arise from several kinds of losses, including:
- Roof collapse
- Improper refrigeration
- Missing inventory
- Insufficient maintenance
- Damage during handling
While the losses you are responsible for may differ depending on the details of contractual agreements, these are some of the most common causes of claims.
How Does Protection Work?
Warehouse legal liability is a core component of commercial property insurance for warehouse owners. This coverage protects the property owner in the event of negligence resulting in damage to the other person’s property. Policies can be developed to cover defense and settlement costs.
It is crucial for property owners to fully understand their contractual agreements, including any warehouse receipts, bills of lading, and warehousing agreements. If you secure commercial property insurance that protects you from claims, you will feel relief and confidence knowing that you are safeguarded from unpredictable circumstances.