The Top 3 Sources of Warehouse Property Loss

Orlando warehouse insurance

Property loss represents one of the costliest problems facing the warehouse industry. While misplacing products can be frustrating, it pales in comparison to the more serious concerns facing a storage facility. Here are the top three sources of property loss in the warehouse business.

1. Fire

Between 2009 and 2013, fires cost an average of $155 million dollars in property damage to warehouses each year. In addition to the damage from the fire, smoke, and water used in firefighting, disrupting supply chains also caused significant loss of business.

2. Water

In the United States, 85% of all business properties have had water damage at some time. Rain and burst water pipes can cause direct damage to stored objects, your structures, and electrical systems.

3. Crime

Florida is one of the top three states for cargo theft along with California and Texas. The highest value crimes virtually always happen at warehouses because the property is concentrated and relatively easy to access.

While facility owners can make preparations, inevitably problems will strike. Even with all the threats that surround the warehouse industry, business owners can gain some protection. Orlando warehouse insurance policies can help to cover losses and the cost of rebuilding. Finding the right insurance agency goes a long way to helping your company to have a secure future.