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Commercial warehouses are a vital component of several industries. They're used to store materials, supplies, components, as well as finished products. The owner of a warehouse takes on the responsibility of providing adequate facilities so that their customers can properly store whatever they need to. Most times, commercial warehouse space is shared by a variety of entities, all with unique space needs. Some customers require climate-controlled areas, others need refrigerated or frozen storage, and other customers only need rack space. Regardless of the type of space provided, all warehouses must have proper warehouse insurance.
In simple terms, commercial warehouse insurance is a set of coverages that are designed to protect against the loss, damage, and other liabilities. It falls under the category of commercial insurance and the exact types of coverage depend upon the type of warehouse facility, services provided, and whether or not there are employees. Business of all varieties use storage and warehouse facilities to hold and protect their inventory. Property damage from fire or flood, vandalism and theft can destroy a facility in an instant. Take steps to safeguard your clients with the proper storage and warehouse insurance coverage.