Hardwood dimension and flooring mills operate on different scales, and in different lines of business. Some companies may provide hardwood floors for homes and small office buildings, while others construct wood beams for industrial structures, or work on multi-state operations. Whether a mill has two employees or two hundred, and whether they have branches across the country, or a single location in a small town, these companies and their owners and employees should be sufficiently protected with commercial insurance coverage. An independent business insurance agent who has experience working with hardwood dimension and flooring companies can guide owners in selecting a policy to keep their mill properly covered.
Commercial insurance for hardwood dimension and flooring mills protects against a variety of risks. Whether they want to change their company’s current coverage, discuss risk management, or buy a new policy altogether, an independent insurance agent is a valuable resource.
In working with a hardwood floor mill owner, an independent agent may have to fill out a loss control survey after inspecting the business’s premises. In some cases, this may be after an in-person inspection, while in other situations, he may be able to do it over the phone. Whether an inspection is live depends on various factors, including an organization’s workers’ compensation premium, and the number of commercial vehicles owned by a hardwood flooring business. An independent insurance might mention that certain insurance providers also require these kinds of inspections at the time a policy is renewed.
For business owners looking to purchase a new commercial insurance policy, or change their provider, an independent insurance agent will probably describe the basic kinds of coverage that should be included in their policy. He will mention commercial general liability insurance, property coverage, business owners’ insurance, and building coverage. Also, an independent insurance agent may provide an overview of commercial auto insurance, workers’ compensation coverage, crime insurance, and, depending on the nature of a business’s operations, inland marine coverage. Subject to the concerns of a particular hardwood floor business owner, he might mention crime insurance coverage, too.
To better assess a flooring mill business’s commercial insurance coverage needs, an independent insurance agent may ask an owner about whether any manufacturing other than that involving wood products takes place on the premises, such as chemical, auto parts, or food products manufacturing. And, he will likely want to know the number of square feet occupied by a flooring mill building. Also, an independent business insurance agent will want to find out whether a company has had more than one loss in the past three years, or a loss paid, or reserved in excess of $10,000 during that period. He might also want to discuss whether the federal government, an airport commission, or another public or governmental entity should be added as an additional insured under a hardwood dimension or flooring mill’s commercial insurance policy, and if a claim could be subject to the jurisdiction of an American Indian tribal court.
In working with an independent insurance agent to secure business insurance coverage for their organization, hardwood mill owners will probably get asked questions about whether flammables are used on site, or if flammable finishes are applied to flooring or other products, and whether any heat processing work is performed. An independent agent might also inquire about how long a company has been in operation, and he will want to know if they are looking for a differences in conditions (DIC) policy, flood or earthquake insurance, or mono-line windstorm insurance, since some companies do not offer these lines of coverage. If a hardwood flooring mill is located in a coastal state, or even along a large lake, an independent insurance agent may discuss various insurers’ guidelines for coastal properties, and if it is near dense woods, he may mention forest fire guidelines. Additionally, an experienced independent insurance agent may want to discuss annual sales at a business’s location, whether they have a parking lot adjacent to the mill building, or if any storage facilities are located on the premises.
An independent insurance agent can describe coverage limits, and umbrella limits, along with the specific provisions and exclusions in policies being considered by a hardwood dimension and flooring mill business. He will guide owners in finding a commercial insurance policy with the appropriate coverage for their organization, so that in case wooden beams are accidentally damaged while being transported to a customer, or an employee is injured on a miter saw, a mill’s owner and its workers can be shielded from financial or legal exposure during the claims process.
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