Warehouses and Manufacturing – All Property Insurance

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Insurance Solutions for Warehouses and Manufacturing

Whether you own the warehouse or you are leasing your warehouse there are a number of things you need to be aware of – APIS can assist with finding the right covers at a competitive premium – In addition to this our advice on risk management would see a reduction in your claims. (See FAQs)

What to look for

Sums Insured
Always ensure that your sums insured are accurate especially for buildings, stock and if applicable Tenants Improvements – Insurers operate a clause called “average” this clause will kick in if your sums insured are not adequate – Insurers are at liberty to deduct the % that you are under-insured from any settlement. For example if you get cover for £100k and it should be £200k and you claims for £50k then you will only get £25k.
All Risks
Always check that your policy provides cover for loss or damage on an All Risk Basis – There are policies available that will only cover certain perils – If you find yourself without all risk cover you could see your claim repudiated
Goods in Transit Insurance
Do you regularly send out goods? You might consider looking into a goods in transit insurance
Business Interruption Covers
Does your current policy provide – loss of profits, loss or rent and increased cost of working
Engineering Inspections Covers
Are your Fork lift trucks and any mechanical equipment insured and maintained on an annual basis
Stock Levels
Are stock levels increased seasonally

What Covers you may need

Employers Liability – Provides cover against your legal liability in the event of injury or illness to staff members as a result of your negligence
Public Liability – Provides cover against your legal liability in the event of injury or illness to members of the public or visitors to your site as result of your own negligence
Material Damage – These covers refer to damage or loss of property – for example buildings, contents, tenant’s improvements.
Vehicle Insurance – For your fleet of vans and any forklift trucks
Goods in Transit – Covers your goods while in the custody of third party – e.g. Courier or parcel service
Business Interruption – In the event that your premises cannot be operated from provides indemnity against loss of profits and any additional costs incurred
Legal Expenses – Covers the cost of legal expenses if someone sues
Engineering Inspection covers – Provides an annual inspection of any engineering inc conveyor belts and fork lifts

FAQs – Warehouses, Industrial and Manufacturing

What is commercial combined insurance? – Insurance for warehouses, wholesalers, manufacturers, workshops, factories, importers and hundreds of commercial properties and businesses is also known as commercial combined insurance.
Why must I give accurate sums insured? – An Insurance policy is a contract between you and the Insurance Company and is entered into on the basis of upmost good faith. If even as a mistake do not give accurate sums insured then Insurers can apply the average clause in the event of a claim – This clause simply puts will reduce any settlement by the percentage that you are under for example if you insurer for £100 but really should be £200 and you claims for £50, you’ll only receive £25. If you need assistance in calculating your sums insured the ABI (Association of British Insurers) has some advice on the following link https://abi.bcis.co.uk/

What is Business Interruption cover? – In event of a major claim it is likely that your premises will be unsafe to work from – Business Interruption cover provides indemnification against profits lost during this period and will assist with expenses for the additional cost of working

Why would I need Legal Expenses cover? Legal Expenses Insurance provides cover for Legal Expenses for the following occurrences (Always check the wording)
- Property Protection
- Repossesion
- Tenant default
- Contract disputes
- Debt Recovery
- Tax Protection
- Injury

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