Issue link: https://read.dmtmag.com/i/147844
Feature Story It's important to note that many warehouseman's legal liability policies are designed for sale to "terminal" warehousemen, defined as facilities that store products, not used household goods. In conclusion, it's important to note that every policy covering liability as a carrier and as a warehouseman is unique. States do not regulate either the content of motor truck cargo or the warehouseman's legal liability insurance contracts. Each insurance company is free to tailor their policy terms and conditions to meet the unique requirements of their individual customers. You have a legal obligation to read and understand your insurance policies. If they don't address your operations and activities in the opening paragraph, then the absence of exclusion doesn't matter. If the risk hasn't been assumed by the insurance company in the very first paragraph, then it's not covered. Bottom line: when you are either transporting goods or warehousing goods, there is a world of difference between being insured and being covered. Make sure you know the difference. OO Robert Mucci of Wolpert Insurance Agency, Inc. in Worcester, MA is a Certified Insurance Councilor, Accredited Advisor in Insurance, a MA Licensed Insurance Advisor, a Certified Master Workers Compensation Advisor and a former Certified Public Accountant with PWc and Bain & Company, Inc. He has more than 25 years experience in the insurance industry specializing in commercial risk strategies. For additional information he can be reached at 508-459-4760 and robert@ wolpert.com. For more information visit www.wolpert.com. / Owner operator/August 2013 / / 40 OO 0813 edit.indd 40 7/8/13 11:53 AM