Warehouse Insurance and Storage Insurance

Warehouse Insurance and Storage Insurance

We are here to make finding the right warehouse and storage insurance for your business as easy as 1, 2, 3. As a broker we can tailor every policy to your individual needs so you get the cover you need.

As an insurance broker we have access to a wide range of insurers and types of cover – therefore we are perfectly placed to help you find the protection you’re looking for.

Simply put, we make buying insurance as easy as 1,2,3. Call on our expert team to help find the right engineering insurance – at the right price, quickly, and without fuss.

Why Insurance is Important for Warehousing and Storage Providers

Warehousing and storage businesses must navigate a complex set of risks if they are to truly protect themselves against the unexpected.

No two are the same of course, but diverse risks include incidents affecting that all important warehouse or storage facility – without which there is no business. But incidents affecting your building – from fire and flood, to theft - also have an unusually direct effect on customers. They trust you to store their goods or possessions safely and securely, so the ability to react quickly if something goes wrong is as much about your reputation as it is any physical damage or loss.

Then there are the liability risks associated with injury to people – staff and customers – on your premises, however unlikely they might seem. On top of that, there are risks to goods in transit, in your care, and things like book debts to consider.

That is why making sure you have the right warehouse insurance or storage business insurance in place is so vital – and finding it need not be complicated or time consuming if you turn to an expert for guidance. In fact, it’s vital to peace of mind – to knowing you have the right warehouse and storage insurance cover in place at the right price.

About the Warehousing and Storage Industry

Warehousing and storage are often overlooked, but are vital to the proper functioning of supply chains in a wide variety of industries – from retail and food, to manufacturing and transport[1]. Its importance is only underlined by the most pressing issue facing the sector today – a shortage of available warehousing and storage space and the amount of land available for new capacity[2].

The retail sector is by far the biggest consumer of the industry’s total current capacity, which stands at around 420 million square feet across some 1,500 facilities[3]. Retail consumes more than 150 million square feet in total, with online retail still only accounting for less than 10% of that figure[4]. Transport is a distant second, taking up around 84 million[5] square feet, while manufacturing firms use just over 30 million[6].

Meanwhile, the self-storage industry has grown rapidly since its arrival in the UK during the early 1980s[7]. Today the industry is comprised of around 1500 providers, between them offering about 45 million square feet of storage space – and, contrary to common belief, its use is not limited to consumers. Indeed, self-storage is extensively used by smaller businesses seeking affordable stock warehousing.

Naturally, both sectors face similar risks, albeit on different scales. On a sectoral level, the lack of space for growth is a real issue, but more everyday risks include those to property – which is exacerbated by the presence of large quantities of third-party property. Similarly, storage facilities are potentially hazardous environments, so employee and customer health and safety risks must be effectively managed and potential liabilities insured against.

There can be no doubt that these risks, as well as those arising from transportation, those arising from supply chain issues, and many more depending on the nature of the business, make seeking expert insurance support is a must.

Get a Warehouse Insurance or Storage Insurance Quote

We are here to guide you to the right warehousing insurance, at the right price. Our experienced and friendly team will help you work out what cover you need, before gathering no-obligation quotes. When your happy with the cover and the price we’ll getting cover set up quickly and easily. Contact us to find out more.

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^{[1] https://www.cambridgeshirechamber.co.uk/downloadlibrary/UKWA%20Savills.pdf
[2] https://www.cambridgeshirechamber.co.uk/downloadlibrary/UKWA%20Savills.pdf
[3] https://www.cambridgeshirechamber.co.uk/downloadlibrary/UKWA%20Savills.pdf
[4] https://www.cambridgeshirechamber.co.uk/downloadlibrary/UKWA%20Savills.pdf
[5] https://www.cambridgeshirechamber.co.uk/downloadlibrary/UKWA%20Savills.pdf
[6] https://www.cambridgeshirechamber.co.uk/downloadlibrary/UKWA%20Savills.pdf
[7] https://www.ssauk.com/industry-info/history-of-the-industry/}

^{smei is a trading name of Marsh Commercial, a UK award winning expert in insurance and risk management, and part of the same business family as Marsh, a global leader in insurance broking and risk management. Occasionally a representative from Marsh Commercial may contact you in response to your enquiry if your trade type is better suited to that area of the business.}