As a wholesaler, you should not expect coverage under a Homeowners Policy. Here are some coverage options for your consideration:
Business Owners Policy
If you are a manufacturer's representative with limited inventory, some insurance companies will cover your business with the Business Owners Policy, commonly called a BOP. The BOP provides broad coverage for the following:
-buildings
-personal property
-loss of business income
-extra expense incurred to remain in business (after a fire or other covered cause of loss)
-premises liability
-medical payments
If you have more than $1,000 of goods off premises in transit, you will need to add additional coverage. Coverage for goods stored at other locations must be added to the policy.
Commercial Package Policy
If you cannot qualify for a Business Owners Policy, your agent will probably have to build a special Commercial Package Policy to meet your needs. You will need a competent Commercial Lines agent to help you. Commercial Lines agents have both the expertise to design the appropriate coverage and the markets for your wholesale business.
Workers Compensation
You will need Workers Compensation Coverage for any employee - even part timers.
Commercial Auto Policy
You may need Commercial Automobile Insurance if you deliver anything or if your vehicle is larger than a car, van or small pickup, or if the vehicle is owned by a corporation.
