Insurance Requirements
Cargo insurance coverage, liability limits, and declared value requirements for stored and shipped inventory
Why Insurance Matters in 3PL
Insurance is critical to protect your inventory while it is in transit or stored at a 3PL facility. Unforeseen events can lead to losses that impact your business. At Founders 3PL, we emphasize comprehensive coverage to safeguard your goods.
Types of Insurance Coverage
General Liability Insurance
This covers third-party bodily injury and property damage claims. For instance, if a visitor is injured at our facility, this insurance helps cover the costs. It is a standard requirement for any reputable 3PL.
- Coverage for bodily injury claims
- Protection against property damage
- Legal fees coverage
Warehouse Legal Liability
Warehouse legal liability insurance is specific to the storage of goods. It covers damages to client goods caused by negligence or unforeseen events within the warehouse. This ensures your products are covered while in our care.
| Coverage Type | Standard Limits |
|---|---|
| General Liability | $1 million per occurrence |
| Warehouse Legal Liability | $500,000 per occurrence |
Cargo Insurance
Cargo insurance protects goods during transit. This is crucial for shipments, as it covers losses from accidents or theft while goods are on the move. Founders 3PL ensures your shipments have the necessary coverage for peace of mind.
Our Insurance Requirements for Clients
Clients are required to maintain their own insurance that covers their inventory. This should include coverage for inventory while stored at our facility and during transit. We recommend discussing specific needs with your insurance provider.
Verify your insurance policy includes coverage for goods stored at third-party locations and in transit to avoid unexpected gaps.
How We Assist with Claims
In the event of a claim, Founders 3PL offers support in navigating the process. We provide documentation and assistance to ensure a smooth and efficient resolution. Our team is here to help mitigate any impacts on your operations.
Insurance is not just a policy—it's peace of mind, ensuring your supply chain remains resilient against the unexpected.
Philip Quick, Founders 3PL
